Marketing Mix Of Implementing Global Corporate Citizenship An Integrated Business Framework

Posted by Zander Henry on Aug-22-2018

1. marketing mix

1.1. Understanding the marketing mix

• The marketing mix is an important set of marketing tools and characteristics that a firm uses to increase penetration in the target market groups
• Using the marketing mix strategically includes focusing on seven important aspects of marketing and branding for an organization, namely: product, place, price, promotion, people, process, and physical evidence

1.2. Importance of marketing mix

• The marketing mix helps a company choose and decide on a suitable marketing strategy
• The marketing mix also helps a company in resource and budget allocation to different aspects of the marketing strategy and product development
• The marketing mix also allows a company to choose the right and effective marketing tactics for its promotional needs

2. Marketing mix for Implementing Global Corporate Citizenship An Integrated Business Framework

Implementing Global Corporate Citizenship An Integrated Business Framework makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix Implementing Global Corporate Citizenship An Integrated Business Framework is presented below:

2.1. Product

Product is one of the most important components of the Implementing Global Corporate Citizenship An Integrated Business Framework Marketing mix. The distinctive characteristics of the product by Implementing Global Corporate Citizenship An Integrated Business Framework are:

2.1.1. Quality

• Implementing Global Corporate Citizenship An Integrated Business Framework maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• Implementing Global Corporate Citizenship An Integrated Business Framework procures raw materials from reliable and trusted suppliers only
• These raw materials are processed under carefully maintained environments to maintain high and consistent quality of the products
• High quality promise and delivery also provides Implementing Global Corporate Citizenship An Integrated Business Framework with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by Implementing Global Corporate Citizenship An Integrated Business Framework are relatively easy to use
• All products come with a user manual, which is easy to understand and which provides simple instructions for product use
• The consumers can also call the 24/7 helpline to understand details about product usage
• Also, retail representatives provide detailed instructions and explanations regarding the use of the product at the time of the sale

2.1.3. Portfolio broadness

• Implementing Global Corporate Citizenship An Integrated Business Framework has a broad portfolio of products
• The broad portfolio helps Implementing Global Corporate Citizenship An Integrated Business Framework in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to Implementing Global Corporate Citizenship An Integrated Business Framework
• The broader product portfolio also adds more value for Implementing Global Corporate Citizenship An Integrated Business Framework

2.1.4. Benefits of product consumption

• Implementing Global Corporate Citizenship An Integrated Business Framework offers functional benefits to consumers of the product use
• These functional benefits are promised and delivered – however, they are also delivered by other similar products
• The distinguishing aspect of Implementing Global Corporate Citizenship An Integrated Business Framework is its delivery of emotional benefits to the consumer
• Products manufactured and sold by Implementing Global Corporate Citizenship An Integrated Business Framework promise consumers an ego boost, confidence, and security
• Implementing Global Corporate Citizenship An Integrated Business Framework also promises fulfilment of psychological needs on product consumption
• These psychological needs include, for example, the need for empathy, the need for belonging, and the need of feeling loved.

2.1.5. Different SKUs

• The products by Implementing Global Corporate Citizenship An Integrated Business Framework are available in different sizes
• Implementing Global Corporate Citizenship An Integrated Business Framework has made use of different SKUs to increase market penetration
• Different SKUs can be brought and used as per the consumption needs of the consumers, and the target markets
• Through the production of different SKUs, Implementing Global Corporate Citizenship An Integrated Business Framework has also increased the trial rate
• Different SKUs have also helped Implementing Global Corporate Citizenship An Integrated Business Framework improve its product accessibility

2.2. Price

Implementing Global Corporate Citizenship An Integrated Business Framework marketing mix focuses on a hybrid strategy for pricing to obtain maximum value for its products. The marketing mix Implementing Global Corporate Citizenship An Integrated Business Framework uses a combination of a number of techniques for pricing its products, which are detailed below:

2.2.1. Premium pricing

• By using premium pricing for some of its product ranges, Implementing Global Corporate Citizenship An Integrated Business Framework encourages favorable brand and product perceptions in target consumer groups
• Premium pricing for products also encourages a favorable quality perception of Implementing Global Corporate Citizenship An Integrated Business Framework products amongst consumers
• With premium prices, Implementing Global Corporate Citizenship An Integrated Business Framework has successfully also made some of its product ranges exclusive by restricting sales and production. This, in turn, leads to a perception g luxury in consumption products
• Premium prices add a touch of privilege and high value in Implementing Global Corporate Citizenship An Integrated Business Framework products
• Using elements of premium prices in other product ranges has also allowed Implementing Global Corporate Citizenship An Integrated Business Framework to maintain significantly high profits and a consistent business growth

2.2.2. Psychological pricing

• Since Implementing Global Corporate Citizenship An Integrated Business Framework has a number of different product ranges and product groups, the use of psychological pricing has been beneficial
• With the use of psychological pricing, Implementing Global Corporate Citizenship An Integrated Business Framework also successfully adds more value to its products from the point of view of customers
• Implementing Global Corporate Citizenship An Integrated Business Framework also gains higher sales with psychological pricing
• Consumer purchase a higher amount of Implementing Global Corporate Citizenship An Integrated Business Framework products because of its use of psychological pricing
• Implementing Global Corporate Citizenship An Integrated Business Framework is able to increase its target audience and broaden its target purchaser groups

2.2.3. Geographical pricing

• Implementing Global Corporate Citizenship An Integrated Business Framework is able to penetrate different regional markets optimally with the use of geographical pricing
• For offshore locations, geographical pricing also allows Implementing Global Corporate Citizenship An Integrated Business Framework to cover shipping and customs expenses
• Geographical pricing also allows Implementing Global Corporate Citizenship An Integrated Business Framework to maintain consistent revenue growth by altering pricing in different markets based on local currency value

2.2.4. Bundle pricing

• For some product ranges, Implementing Global Corporate Citizenship An Integrated Business Framework is also known to use bundle pricing strategy popularly
• Implementing Global Corporate Citizenship An Integrated Business Framework also uses bundle pricing during sales
• Bundle pricing increases the trial rate for consumers
• Implementing Global Corporate Citizenship An Integrated Business Framework experiences higher return on the cost of gaining a new customer
• With bundle pricing, Implementing Global Corporate Citizenship An Integrated Business Framework is also able to control costs and prices by lowering marketing and distribution expenses
• The use of bundle pricing also adds value to the umbrella brand name of Implementing Global Corporate Citizenship An Integrated Business Framework.

2.3. Placement

Implementing Global Corporate Citizenship An Integrated Business Framework places high importance on the placement of its products because it directly relates to accessibility for consumers.

2.3.1. Company-operated stored

• The company maintains stores operated by the management of Implementing Global Corporate Citizenship An Integrated Business Framework in all markets
• Company-operated stores give Implementing Global Corporate Citizenship An Integrated Business Framework higher control over operations as well as store layout and design
• Implementing Global Corporate Citizenship An Integrated Business Framework also interacts directly with the consumers and gathers important details regarding consumer behavior and consumer feedback through company-operated stores
• The company operated stores also give leverage to Implementing Global Corporate Citizenship An Integrated Business Framework in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

• Implementing Global Corporate Citizenship An Integrated Business Framework licensed stores also allow consumers to enjoy the various product offerings by the company
• Licensed stores also decrease the risk of financial and physical investment for Implementing Global Corporate Citizenship An Integrated Business Framework in unstable markets
• Licensed stores have also given Implementing Global Corporate Citizenship An Integrated Business Framework high business growth, and a boost for rapid market expansion and penetration
• Through licensed stores, Implementing Global Corporate Citizenship An Integrated Business Framework has also learned about local consumers and cultures
• Licensed stores and shops encourage sales of products by Implementing Global Corporate Citizenship An Integrated Business Framework by aligning it with local cultural values
• Licensed stores also help Implementing Global Corporate Citizenship An Integrated Business Framework in localizing its product offerings to enhance brand equity and band image

2.3.3. E-commerce

• Implementing Global Corporate Citizenship An Integrated Business Framework has developed a successfully operational website for online order placement and order tracking
• Implementing Global Corporate Citizenship An Integrated Business Framework also encourages sales through social media portals, where the company takes orders through direct messages, as well as through a mini-shop model
• The company also stocks products with online retailers such as Amazon and eBay, as well as smaller local online retailers as well
• Online retailing, and using the internet to make sales has boosted the sales for Implementing Global Corporate Citizenship An Integrated Business Framework and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• Implementing Global Corporate Citizenship An Integrated Business Framework also places its products in supermarkets and hypermarkets across the country
• A large number of Implementing Global Corporate Citizenship An Integrated Business Framework target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for Implementing Global Corporate Citizenship An Integrated Business Framework

2.3.5. Partner agents

• In offshore locations, Implementing Global Corporate Citizenship An Integrated Business Framework also makes use of partner agents for its products’ placement
• These partner agents are assessed and evaluated on strategic compatibility and reliance
• Implementing Global Corporate Citizenship An Integrated Business Framework contracts with partner agents in other countries and markets for its product placement to ensure quality control and terms of negotiation

2.4. Promotion

The marketing strategy for Implementing Global Corporate Citizenship An Integrated Business Framework also places high importance on the promotional tactics and strategies used. The promotional strategies allow the Implementing Global Corporate Citizenship An Integrated Business Framework to interact with the consumers and influence them directly. Implementing Global Corporate Citizenship An Integrated Business Framework uses a 360-degree approach in its promotional activities, and makes use of the following means of promotion:

2.4.1. Digital marketing

• Implementing Global Corporate Citizenship An Integrated Business Framework has corporate profiles on all social media websites and portals
• Implementing Global Corporate Citizenship An Integrated Business Framework uses its social media presence to directly, engage with consumers
• This direct engagement and interaction allows Implementing Global Corporate Citizenship An Integrated Business Framework to understand the customers, their needs and demands
• Implementing Global Corporate Citizenship An Integrated Business Framework uses this feedback and incorporates it in its broader marketing and organizational strategy
• Implementing Global Corporate Citizenship An Integrated Business Framework also maintains a corporate website – which highlights company information, product information as well as information regarding any ongoing campaigns and sales

2.4.2. Reward Programs

• Implementing Global Corporate Citizenship An Integrated Business Framework has a loyalty card program for its customers
• The loyalty card allows customers to redeem points in exchange for products or other exciting gifts, as directed by the company
• Each purchase is entered into the loyalty card by Implementing Global Corporate Citizenship An Integrated Business Framework and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by Implementing Global Corporate Citizenship An Integrated Business Framework on high valued purchases
• Frequent usage and purchase of products by Implementing Global Corporate Citizenship An Integrated Business Framework also has rewards against the loyalty card

2.4.3. Community Influencers

• Implementing Global Corporate Citizenship An Integrated Business Framework makes use of community influencers as its on-ground promotional efforts
• Implementing Global Corporate Citizenship An Integrated Business Framework identifies strong and confident individuals to be brand ambassadors in their communities
• Implementing Global Corporate Citizenship An Integrated Business Framework provides these brand ambassadors and community influencers with its product range and invites them to use it themselves to see benefits

2.4.4. Conventional marketing

• The company places advertisements in consumer-related magazines. This largely includes home decor, and home management magazines
• Magazine ads are not very frequent, but appear twice every quarter of the fiscal year
• In high-density locations, Implementing Global Corporate Citizenship An Integrated Business Framework also makes use of out of house hoardings
• Hoardings increase visibility for Implementing Global Corporate Citizenship An Integrated Business Framework and also work towards building stronger brand recall
• Implementing Global Corporate Citizenship An Integrated Business Framework also produces TV advertisements
• All TV advertisements have an emotional appeal to them
• TV advertisements by Implementing Global Corporate Citizenship An Integrated Business Framework have progressed to include a slice of life elements and characteristics
• TV advertisements by Implementing Global Corporate Citizenship An Integrated Business Framework also highlight the functional benefits of the product

2.5. People

The marketing mix of Implementing Global Corporate Citizenship An Integrated Business Framework also places an essential focus on people development and people building. This is because Implementing Global Corporate Citizenship An Integrated Business Framework realizes the importance of employees in building strong customer relationships. Implementing Global Corporate Citizenship An Integrated Business Framework develops its employee and people by focusing on the following aspects:

2.5.1. Training

• Implementing Global Corporate Citizenship An Integrated Business Framework makes sure that all employees undergo regular training sessions for skill development and enhancement
• Trainings at Implementing Global Corporate Citizenship An Integrated Business Framework are not the only field related, but also focus on essential management and organizational skills
• Training sessions and activities at Implementing Global Corporate Citizenship An Integrated Business Framework also identify with the employee's own needs of progression, development and growth
• All training sessions and activities designed and carried out by Implementing Global Corporate Citizenship An Integrated Business Framework take into consideration business goals and objectives, as well as employee's personal goals and aspirations
• Implementing Global Corporate Citizenship An Integrated Business Framework, therefore, tries to develop the employee as an organizational member, as well as an individual
• All training is engaging, and hands-on so that employees do not only learn but also experience

2.5.2. Organizational ownership

• Implementing Global Corporate Citizenship An Integrated Business Framework works on strengthening the organizational commitment in its employees
• Implementing Global Corporate Citizenship An Integrated Business Framework builds employee loyalty so that people can reflect their optimal best at work
• Implementing Global Corporate Citizenship An Integrated Business Framework also understands that satisfied employees will lead to happy and satisfied customers
• Implementing Global Corporate Citizenship An Integrated Business Framework regularly shares different reward programs for employees, including stock sharing, so that their organizational commitment and ownership is enhanced
• Implementing Global Corporate Citizenship An Integrated Business Framework also includes employees in decision making at different managerial levels, and regularly takes their feedback for different projects and products – which also work towards building organizational ownership

2.5.3. Motivation building

• Implementing Global Corporate Citizenship An Integrated Business Framework employees are the face of the organization
• Implementing Global Corporate Citizenship An Integrated Business Framework are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that Implementing Global Corporate Citizenship An Integrated Business Framework distributes
• Another source of motivation is appreciation programs where management appreciates and acknowledges the work and performance of different employees

2.5.4. Succession planning

• Implementing Global Corporate Citizenship An Integrated Business Framework remains one of the leading players in the industry also because of its focus on succession planning
• Implementing Global Corporate Citizenship An Integrated Business Framework conducts succession planning for all managerial levels
• Succession planning is done through internal promotions as well as external recruitments to meet the needs and demands of the vacant job position at Implementing Global Corporate Citizenship An Integrated Business Framework
• Strategic succession planning has allowed Implementing Global Corporate Citizenship An Integrated Business Framework to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

Implementing Global Corporate Citizenship An Integrated Business Framework has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at Implementing Global Corporate Citizenship An Integrated Business Framework are clearly defined and communicated to the employees
• Implementing Global Corporate Citizenship An Integrated Business Framework makes sure that employees are well trained, and knowledgeable of all processes relates to operations
• All stages of operational processes focus on maintaining a high quality level and standard of the products
• Systematic process re in place for all operation – from procurement to the final sale of the products
• All operational processes are maintained, checked, and uploaded through the internal portal of the organization for supervisory purposes
• The use of online portals for operational processes also builds a strong backup for managerial purposes at Implementing Global Corporate Citizenship An Integrated Business Framework

2.6.2. People Management

• Implementing Global Corporate Citizenship An Integrated Business Framework has also defined clear processes for people management through streamlining its human resource management department
• Implementing Global Corporate Citizenship An Integrated Business Framework has defined guidelines regarding recruitment, training, compensation management, and performance appraisal of employees
• All people related processes are not only communicated to the management and supervisors, but also to employees to create a sense of transparency, and an environment of trust
• Progressive people management systems and processes have allowed Implementing Global Corporate Citizenship An Integrated Business Framework to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• Implementing Global Corporate Citizenship An Integrated Business Framework also has defined policies and processes for managing and maintaining quality
• All products undergo triple quality checks to ensure that customers receive the best product
• In addition to quality checks at the production and distribution level, the management has also placed separate quality maintenance and quality check department
• The quality maintenance department has experts who make sure that not only the final product but also the processes involved in producing the product were infused with quality

2.6.4. Store management

• Implementing Global Corporate Citizenship An Integrated Business Framework manages store management through stringent and closely monitored policies and processes
• These processes relate to not only the floor and space design but also to the performance of the employees at the store
• The processes for store management also regularly monitor footfall and work on strategies to increase footfall through different tactics, and changes in the store design and store management
• The company also has a systematic process for customers who interact with the products and feel them before making the purchase
• The final sale at the store is also clearly defined – for the employees and the customers both
• Processes and policies are important for Implementing Global Corporate Citizenship An Integrated Business Framework for maintaining quality of the products, and for ensuring that the company does not experience any unnecessary expenses and costs

2.7. Physical evidence

The physical evidence is also important in the marketing strategy for Implementing Global Corporate Citizenship An Integrated Business Framework as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for Implementing Global Corporate Citizenship An Integrated Business Framework include:

2.7.1. Store atmosphere

• The store design and management for Implementing Global Corporate Citizenship An Integrated Business Framework is exciting and creative
• The store atmosphere makes the customers feel relaxed and comfortable –so that they can interact with, and enjoy product offerings by Implementing Global Corporate Citizenship An Integrated Business Framework at ease
• The store design is also important for Implementing Global Corporate Citizenship An Integrated Business Framework because it controls the level and nature of experience and interaction that the customers have with the product and the brand
• With company-operated stores, it is easier for Implementing Global Corporate Citizenship An Integrated Business Framework to control and manage the store atmosphere to be able to positively influence customers and to be able to appeal to them emotionally

2.7.2. Packaging

• Implementing Global Corporate Citizenship An Integrated Business Framework has unique packaging, which is different from other players in the industry
• Implementing Global Corporate Citizenship An Integrated Business Framework also has a vibrant touché to its packaging, which is regularly changed in terms of colors and patterns
• The logo for the company is simple, and recognizable by the consumers easily
• The brand logo has also become a symbol of confidence, ambition, and aspiration for consumers who use products by Implementing Global Corporate Citizenship An Integrated Business Framework
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by Implementing Global Corporate Citizenship An Integrated Business Framework

2.7.3. Website design

• The website design is simple and easy to use
• Implementing Global Corporate Citizenship An Integrated Business Framework has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of Implementing Global Corporate Citizenship An Integrated Business Framework also has the brand logo, and is packaged similarly to the products offered by the company
• The design patterns, and color change on the website with changes to the product packaging to match various campaign needs and sale offerings