Marketing Mix Of Kyle s Kayaks Managerial Budget Case Sales to Financial Statements

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 Kyle s Kayaks Managerial Budget Case Sales to Financial Statements

Kyle s Kayaks Managerial Budget Case Sales to Financial Statements makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix Kyle s Kayaks Managerial Budget Case Sales to Financial Statements is presented below:

2.1. Product

Product is one of the most important components of the Kyle s Kayaks Managerial Budget Case Sales to Financial Statements Marketing mix. The distinctive characteristics of the product by Kyle s Kayaks Managerial Budget Case Sales to Financial Statements are:

2.1.1. Quality

• Kyle s Kayaks Managerial Budget Case Sales to Financial Statements maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• Kyle s Kayaks Managerial Budget Case Sales to Financial Statements 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 Kyle s Kayaks Managerial Budget Case Sales to Financial Statements with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by Kyle s Kayaks Managerial Budget Case Sales to Financial Statements 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

• Kyle s Kayaks Managerial Budget Case Sales to Financial Statements has a broad portfolio of products
• The broad portfolio helps Kyle s Kayaks Managerial Budget Case Sales to Financial Statements in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to Kyle s Kayaks Managerial Budget Case Sales to Financial Statements
• The broader product portfolio also adds more value for Kyle s Kayaks Managerial Budget Case Sales to Financial Statements

2.1.4. Benefits of product consumption

• Kyle s Kayaks Managerial Budget Case Sales to Financial Statements 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 Kyle s Kayaks Managerial Budget Case Sales to Financial Statements is its delivery of emotional benefits to the consumer
• Products manufactured and sold by Kyle s Kayaks Managerial Budget Case Sales to Financial Statements promise consumers an ego boost, confidence, and security
• Kyle s Kayaks Managerial Budget Case Sales to Financial Statements 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 Kyle s Kayaks Managerial Budget Case Sales to Financial Statements are available in different sizes
• Kyle s Kayaks Managerial Budget Case Sales to Financial Statements 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, Kyle s Kayaks Managerial Budget Case Sales to Financial Statements has also increased the trial rate
• Different SKUs have also helped Kyle s Kayaks Managerial Budget Case Sales to Financial Statements improve its product accessibility

2.2. Price

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

2.2.2. Psychological pricing

• Since Kyle s Kayaks Managerial Budget Case Sales to Financial Statements has a number of different product ranges and product groups, the use of psychological pricing has been beneficial
• With the use of psychological pricing, Kyle s Kayaks Managerial Budget Case Sales to Financial Statements also successfully adds more value to its products from the point of view of customers
• Kyle s Kayaks Managerial Budget Case Sales to Financial Statements also gains higher sales with psychological pricing
• Consumer purchase a higher amount of Kyle s Kayaks Managerial Budget Case Sales to Financial Statements products because of its use of psychological pricing
• Kyle s Kayaks Managerial Budget Case Sales to Financial Statements is able to increase its target audience and broaden its target purchaser groups

2.2.3. Geographical pricing

• Kyle s Kayaks Managerial Budget Case Sales to Financial Statements is able to penetrate different regional markets optimally with the use of geographical pricing
• For offshore locations, geographical pricing also allows Kyle s Kayaks Managerial Budget Case Sales to Financial Statements to cover shipping and customs expenses
• Geographical pricing also allows Kyle s Kayaks Managerial Budget Case Sales to Financial Statements 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, Kyle s Kayaks Managerial Budget Case Sales to Financial Statements is also known to use bundle pricing strategy popularly
• Kyle s Kayaks Managerial Budget Case Sales to Financial Statements also uses bundle pricing during sales
• Bundle pricing increases the trial rate for consumers
• Kyle s Kayaks Managerial Budget Case Sales to Financial Statements experiences higher return on the cost of gaining a new customer
• With bundle pricing, Kyle s Kayaks Managerial Budget Case Sales to Financial Statements 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 Kyle s Kayaks Managerial Budget Case Sales to Financial Statements.

2.3. Placement

Kyle s Kayaks Managerial Budget Case Sales to Financial Statements 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 Kyle s Kayaks Managerial Budget Case Sales to Financial Statements in all markets
• Company-operated stores give Kyle s Kayaks Managerial Budget Case Sales to Financial Statements higher control over operations as well as store layout and design
• Kyle s Kayaks Managerial Budget Case Sales to Financial Statements 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 Kyle s Kayaks Managerial Budget Case Sales to Financial Statements in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

• Kyle s Kayaks Managerial Budget Case Sales to Financial Statements 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 Kyle s Kayaks Managerial Budget Case Sales to Financial Statements in unstable markets
• Licensed stores have also given Kyle s Kayaks Managerial Budget Case Sales to Financial Statements high business growth, and a boost for rapid market expansion and penetration
• Through licensed stores, Kyle s Kayaks Managerial Budget Case Sales to Financial Statements has also learned about local consumers and cultures
• Licensed stores and shops encourage sales of products by Kyle s Kayaks Managerial Budget Case Sales to Financial Statements by aligning it with local cultural values
• Licensed stores also help Kyle s Kayaks Managerial Budget Case Sales to Financial Statements in localizing its product offerings to enhance brand equity and band image

2.3.3. E-commerce

• Kyle s Kayaks Managerial Budget Case Sales to Financial Statements has developed a successfully operational website for online order placement and order tracking
• Kyle s Kayaks Managerial Budget Case Sales to Financial Statements 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 Kyle s Kayaks Managerial Budget Case Sales to Financial Statements and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• Kyle s Kayaks Managerial Budget Case Sales to Financial Statements also places its products in supermarkets and hypermarkets across the country
• A large number of Kyle s Kayaks Managerial Budget Case Sales to Financial Statements target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for Kyle s Kayaks Managerial Budget Case Sales to Financial Statements

2.3.5. Partner agents

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

2.4.1. Digital marketing

• Kyle s Kayaks Managerial Budget Case Sales to Financial Statements has corporate profiles on all social media websites and portals
• Kyle s Kayaks Managerial Budget Case Sales to Financial Statements uses its social media presence to directly, engage with consumers
• This direct engagement and interaction allows Kyle s Kayaks Managerial Budget Case Sales to Financial Statements to understand the customers, their needs and demands
• Kyle s Kayaks Managerial Budget Case Sales to Financial Statements uses this feedback and incorporates it in its broader marketing and organizational strategy
• Kyle s Kayaks Managerial Budget Case Sales to Financial Statements 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

• Kyle s Kayaks Managerial Budget Case Sales to Financial Statements 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 Kyle s Kayaks Managerial Budget Case Sales to Financial Statements and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by Kyle s Kayaks Managerial Budget Case Sales to Financial Statements on high valued purchases
• Frequent usage and purchase of products by Kyle s Kayaks Managerial Budget Case Sales to Financial Statements also has rewards against the loyalty card

2.4.3. Community Influencers

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

2.5. People

The marketing mix of Kyle s Kayaks Managerial Budget Case Sales to Financial Statements also places an essential focus on people development and people building. This is because Kyle s Kayaks Managerial Budget Case Sales to Financial Statements realizes the importance of employees in building strong customer relationships. Kyle s Kayaks Managerial Budget Case Sales to Financial Statements develops its employee and people by focusing on the following aspects:

2.5.1. Training

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

• Kyle s Kayaks Managerial Budget Case Sales to Financial Statements works on strengthening the organizational commitment in its employees
• Kyle s Kayaks Managerial Budget Case Sales to Financial Statements builds employee loyalty so that people can reflect their optimal best at work
• Kyle s Kayaks Managerial Budget Case Sales to Financial Statements also understands that satisfied employees will lead to happy and satisfied customers
• Kyle s Kayaks Managerial Budget Case Sales to Financial Statements regularly shares different reward programs for employees, including stock sharing, so that their organizational commitment and ownership is enhanced
• Kyle s Kayaks Managerial Budget Case Sales to Financial Statements 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

• Kyle s Kayaks Managerial Budget Case Sales to Financial Statements employees are the face of the organization
• Kyle s Kayaks Managerial Budget Case Sales to Financial Statements are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that Kyle s Kayaks Managerial Budget Case Sales to Financial Statements 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

• Kyle s Kayaks Managerial Budget Case Sales to Financial Statements remains one of the leading players in the industry also because of its focus on succession planning
• Kyle s Kayaks Managerial Budget Case Sales to Financial Statements 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 Kyle s Kayaks Managerial Budget Case Sales to Financial Statements
• Strategic succession planning has allowed Kyle s Kayaks Managerial Budget Case Sales to Financial Statements to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

Kyle s Kayaks Managerial Budget Case Sales to Financial Statements has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at Kyle s Kayaks Managerial Budget Case Sales to Financial Statements are clearly defined and communicated to the employees
• Kyle s Kayaks Managerial Budget Case Sales to Financial Statements 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 Kyle s Kayaks Managerial Budget Case Sales to Financial Statements

2.6.2. People Management

• Kyle s Kayaks Managerial Budget Case Sales to Financial Statements has also defined clear processes for people management through streamlining its human resource management department
• Kyle s Kayaks Managerial Budget Case Sales to Financial Statements 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 Kyle s Kayaks Managerial Budget Case Sales to Financial Statements to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• Kyle s Kayaks Managerial Budget Case Sales to Financial Statements 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

• Kyle s Kayaks Managerial Budget Case Sales to Financial Statements 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 Kyle s Kayaks Managerial Budget Case Sales to Financial Statements 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 Kyle s Kayaks Managerial Budget Case Sales to Financial Statements as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for Kyle s Kayaks Managerial Budget Case Sales to Financial Statements include:

2.7.1. Store atmosphere

• The store design and management for Kyle s Kayaks Managerial Budget Case Sales to Financial Statements 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 Kyle s Kayaks Managerial Budget Case Sales to Financial Statements at ease
• The store design is also important for Kyle s Kayaks Managerial Budget Case Sales to Financial Statements 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 Kyle s Kayaks Managerial Budget Case Sales to Financial Statements 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

• Kyle s Kayaks Managerial Budget Case Sales to Financial Statements has unique packaging, which is different from other players in the industry
• Kyle s Kayaks Managerial Budget Case Sales to Financial Statements 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 Kyle s Kayaks Managerial Budget Case Sales to Financial Statements
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by Kyle s Kayaks Managerial Budget Case Sales to Financial Statements

2.7.3. Website design

• The website design is simple and easy to use
• Kyle s Kayaks Managerial Budget Case Sales to Financial Statements has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of Kyle s Kayaks Managerial Budget Case Sales to Financial Statements 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