Marketing Mix Of Indonesia Attracting Foreign Investment

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 Indonesia Attracting Foreign Investment

Indonesia Attracting Foreign Investment makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix Indonesia Attracting Foreign Investment is presented below:

2.1. Product

Product is one of the most important components of the Indonesia Attracting Foreign Investment Marketing mix. The distinctive characteristics of the product by Indonesia Attracting Foreign Investment are:

2.1.1. Quality

• Indonesia Attracting Foreign Investment maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• Indonesia Attracting Foreign Investment 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 Indonesia Attracting Foreign Investment with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by Indonesia Attracting Foreign Investment 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

• Indonesia Attracting Foreign Investment has a broad portfolio of products
• The broad portfolio helps Indonesia Attracting Foreign Investment in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to Indonesia Attracting Foreign Investment
• The broader product portfolio also adds more value for Indonesia Attracting Foreign Investment

2.1.4. Benefits of product consumption

• Indonesia Attracting Foreign Investment 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 Indonesia Attracting Foreign Investment is its delivery of emotional benefits to the consumer
• Products manufactured and sold by Indonesia Attracting Foreign Investment promise consumers an ego boost, confidence, and security
• Indonesia Attracting Foreign Investment 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 Indonesia Attracting Foreign Investment are available in different sizes
• Indonesia Attracting Foreign Investment 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, Indonesia Attracting Foreign Investment has also increased the trial rate
• Different SKUs have also helped Indonesia Attracting Foreign Investment improve its product accessibility

2.2. Price

Indonesia Attracting Foreign Investment marketing mix focuses on a hybrid strategy for pricing to obtain maximum value for its products. The marketing mix Indonesia Attracting Foreign Investment 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, Indonesia Attracting Foreign Investment encourages favorable brand and product perceptions in target consumer groups
• Premium pricing for products also encourages a favorable quality perception of Indonesia Attracting Foreign Investment products amongst consumers
• With premium prices, Indonesia Attracting Foreign Investment 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 Indonesia Attracting Foreign Investment products
• Using elements of premium prices in other product ranges has also allowed Indonesia Attracting Foreign Investment to maintain significantly high profits and a consistent business growth

2.2.2. Psychological pricing

• Since Indonesia Attracting Foreign Investment has a number of different product ranges and product groups, the use of psychological pricing has been beneficial
• With the use of psychological pricing, Indonesia Attracting Foreign Investment also successfully adds more value to its products from the point of view of customers
• Indonesia Attracting Foreign Investment also gains higher sales with psychological pricing
• Consumer purchase a higher amount of Indonesia Attracting Foreign Investment products because of its use of psychological pricing
• Indonesia Attracting Foreign Investment is able to increase its target audience and broaden its target purchaser groups

2.2.3. Geographical pricing

• Indonesia Attracting Foreign Investment is able to penetrate different regional markets optimally with the use of geographical pricing
• For offshore locations, geographical pricing also allows Indonesia Attracting Foreign Investment to cover shipping and customs expenses
• Geographical pricing also allows Indonesia Attracting Foreign Investment 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, Indonesia Attracting Foreign Investment is also known to use bundle pricing strategy popularly
• Indonesia Attracting Foreign Investment also uses bundle pricing during sales
• Bundle pricing increases the trial rate for consumers
• Indonesia Attracting Foreign Investment experiences higher return on the cost of gaining a new customer
• With bundle pricing, Indonesia Attracting Foreign Investment 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 Indonesia Attracting Foreign Investment.

2.3. Placement

Indonesia Attracting Foreign Investment 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 Indonesia Attracting Foreign Investment in all markets
• Company-operated stores give Indonesia Attracting Foreign Investment higher control over operations as well as store layout and design
• Indonesia Attracting Foreign Investment 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 Indonesia Attracting Foreign Investment in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

• Indonesia Attracting Foreign Investment 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 Indonesia Attracting Foreign Investment in unstable markets
• Licensed stores have also given Indonesia Attracting Foreign Investment high business growth, and a boost for rapid market expansion and penetration
• Through licensed stores, Indonesia Attracting Foreign Investment has also learned about local consumers and cultures
• Licensed stores and shops encourage sales of products by Indonesia Attracting Foreign Investment by aligning it with local cultural values
• Licensed stores also help Indonesia Attracting Foreign Investment in localizing its product offerings to enhance brand equity and band image

2.3.3. E-commerce

• Indonesia Attracting Foreign Investment has developed a successfully operational website for online order placement and order tracking
• Indonesia Attracting Foreign Investment 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 Indonesia Attracting Foreign Investment and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• Indonesia Attracting Foreign Investment also places its products in supermarkets and hypermarkets across the country
• A large number of Indonesia Attracting Foreign Investment target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for Indonesia Attracting Foreign Investment

2.3.5. Partner agents

• In offshore locations, Indonesia Attracting Foreign Investment also makes use of partner agents for its products’ placement
• These partner agents are assessed and evaluated on strategic compatibility and reliance
• Indonesia Attracting Foreign Investment 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 Indonesia Attracting Foreign Investment also places high importance on the promotional tactics and strategies used. The promotional strategies allow the Indonesia Attracting Foreign Investment to interact with the consumers and influence them directly. Indonesia Attracting Foreign Investment uses a 360-degree approach in its promotional activities, and makes use of the following means of promotion:

2.4.1. Digital marketing

• Indonesia Attracting Foreign Investment has corporate profiles on all social media websites and portals
• Indonesia Attracting Foreign Investment uses its social media presence to directly, engage with consumers
• This direct engagement and interaction allows Indonesia Attracting Foreign Investment to understand the customers, their needs and demands
• Indonesia Attracting Foreign Investment uses this feedback and incorporates it in its broader marketing and organizational strategy
• Indonesia Attracting Foreign Investment 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

• Indonesia Attracting Foreign Investment 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 Indonesia Attracting Foreign Investment and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by Indonesia Attracting Foreign Investment on high valued purchases
• Frequent usage and purchase of products by Indonesia Attracting Foreign Investment also has rewards against the loyalty card

2.4.3. Community Influencers

• Indonesia Attracting Foreign Investment makes use of community influencers as its on-ground promotional efforts
• Indonesia Attracting Foreign Investment identifies strong and confident individuals to be brand ambassadors in their communities
• Indonesia Attracting Foreign Investment 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, Indonesia Attracting Foreign Investment also makes use of out of house hoardings
• Hoardings increase visibility for Indonesia Attracting Foreign Investment and also work towards building stronger brand recall
• Indonesia Attracting Foreign Investment also produces TV advertisements
• All TV advertisements have an emotional appeal to them
• TV advertisements by Indonesia Attracting Foreign Investment have progressed to include a slice of life elements and characteristics
• TV advertisements by Indonesia Attracting Foreign Investment also highlight the functional benefits of the product

2.5. People

The marketing mix of Indonesia Attracting Foreign Investment also places an essential focus on people development and people building. This is because Indonesia Attracting Foreign Investment realizes the importance of employees in building strong customer relationships. Indonesia Attracting Foreign Investment develops its employee and people by focusing on the following aspects:

2.5.1. Training

• Indonesia Attracting Foreign Investment makes sure that all employees undergo regular training sessions for skill development and enhancement
• Trainings at Indonesia Attracting Foreign Investment are not the only field related, but also focus on essential management and organizational skills
• Training sessions and activities at Indonesia Attracting Foreign Investment also identify with the employee's own needs of progression, development and growth
• All training sessions and activities designed and carried out by Indonesia Attracting Foreign Investment take into consideration business goals and objectives, as well as employee's personal goals and aspirations
• Indonesia Attracting Foreign Investment, 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

• Indonesia Attracting Foreign Investment works on strengthening the organizational commitment in its employees
• Indonesia Attracting Foreign Investment builds employee loyalty so that people can reflect their optimal best at work
• Indonesia Attracting Foreign Investment also understands that satisfied employees will lead to happy and satisfied customers
• Indonesia Attracting Foreign Investment regularly shares different reward programs for employees, including stock sharing, so that their organizational commitment and ownership is enhanced
• Indonesia Attracting Foreign Investment 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

• Indonesia Attracting Foreign Investment employees are the face of the organization
• Indonesia Attracting Foreign Investment are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that Indonesia Attracting Foreign Investment 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

• Indonesia Attracting Foreign Investment remains one of the leading players in the industry also because of its focus on succession planning
• Indonesia Attracting Foreign Investment 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 Indonesia Attracting Foreign Investment
• Strategic succession planning has allowed Indonesia Attracting Foreign Investment to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

Indonesia Attracting Foreign Investment has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at Indonesia Attracting Foreign Investment are clearly defined and communicated to the employees
• Indonesia Attracting Foreign Investment 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 Indonesia Attracting Foreign Investment

2.6.2. People Management

• Indonesia Attracting Foreign Investment has also defined clear processes for people management through streamlining its human resource management department
• Indonesia Attracting Foreign Investment 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 Indonesia Attracting Foreign Investment to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• Indonesia Attracting Foreign Investment 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

• Indonesia Attracting Foreign Investment 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 Indonesia Attracting Foreign Investment 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 Indonesia Attracting Foreign Investment as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for Indonesia Attracting Foreign Investment include:

2.7.1. Store atmosphere

• The store design and management for Indonesia Attracting Foreign Investment 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 Indonesia Attracting Foreign Investment at ease
• The store design is also important for Indonesia Attracting Foreign Investment 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 Indonesia Attracting Foreign Investment 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

• Indonesia Attracting Foreign Investment has unique packaging, which is different from other players in the industry
• Indonesia Attracting Foreign Investment 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 Indonesia Attracting Foreign Investment
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by Indonesia Attracting Foreign Investment

2.7.3. Website design

• The website design is simple and easy to use
• Indonesia Attracting Foreign Investment has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of Indonesia Attracting Foreign Investment 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