Marketing Mix Of LGBT Inclusion in Workplace An Evolving Conundrum

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 LGBT Inclusion in Workplace An Evolving Conundrum

LGBT Inclusion in Workplace An Evolving Conundrum makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix LGBT Inclusion in Workplace An Evolving Conundrum is presented below:

2.1. Product

Product is one of the most important components of the LGBT Inclusion in Workplace An Evolving Conundrum Marketing mix. The distinctive characteristics of the product by LGBT Inclusion in Workplace An Evolving Conundrum are:

2.1.1. Quality

• LGBT Inclusion in Workplace An Evolving Conundrum maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• LGBT Inclusion in Workplace An Evolving Conundrum 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 LGBT Inclusion in Workplace An Evolving Conundrum with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by LGBT Inclusion in Workplace An Evolving Conundrum 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

• LGBT Inclusion in Workplace An Evolving Conundrum has a broad portfolio of products
• The broad portfolio helps LGBT Inclusion in Workplace An Evolving Conundrum in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to LGBT Inclusion in Workplace An Evolving Conundrum
• The broader product portfolio also adds more value for LGBT Inclusion in Workplace An Evolving Conundrum

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

LGBT Inclusion in Workplace An Evolving Conundrum 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 LGBT Inclusion in Workplace An Evolving Conundrum in all markets
• Company-operated stores give LGBT Inclusion in Workplace An Evolving Conundrum higher control over operations as well as store layout and design
• LGBT Inclusion in Workplace An Evolving Conundrum 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 LGBT Inclusion in Workplace An Evolving Conundrum in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

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

2.3.3. E-commerce

• LGBT Inclusion in Workplace An Evolving Conundrum has developed a successfully operational website for online order placement and order tracking
• LGBT Inclusion in Workplace An Evolving Conundrum 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 LGBT Inclusion in Workplace An Evolving Conundrum and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• LGBT Inclusion in Workplace An Evolving Conundrum also places its products in supermarkets and hypermarkets across the country
• A large number of LGBT Inclusion in Workplace An Evolving Conundrum target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for LGBT Inclusion in Workplace An Evolving Conundrum

2.3.5. Partner agents

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

2.4.1. Digital marketing

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

• LGBT Inclusion in Workplace An Evolving Conundrum 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 LGBT Inclusion in Workplace An Evolving Conundrum and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by LGBT Inclusion in Workplace An Evolving Conundrum on high valued purchases
• Frequent usage and purchase of products by LGBT Inclusion in Workplace An Evolving Conundrum also has rewards against the loyalty card

2.4.3. Community Influencers

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

2.5. People

The marketing mix of LGBT Inclusion in Workplace An Evolving Conundrum also places an essential focus on people development and people building. This is because LGBT Inclusion in Workplace An Evolving Conundrum realizes the importance of employees in building strong customer relationships. LGBT Inclusion in Workplace An Evolving Conundrum develops its employee and people by focusing on the following aspects:

2.5.1. Training

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

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

• LGBT Inclusion in Workplace An Evolving Conundrum employees are the face of the organization
• LGBT Inclusion in Workplace An Evolving Conundrum are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that LGBT Inclusion in Workplace An Evolving Conundrum 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

• LGBT Inclusion in Workplace An Evolving Conundrum remains one of the leading players in the industry also because of its focus on succession planning
• LGBT Inclusion in Workplace An Evolving Conundrum 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 LGBT Inclusion in Workplace An Evolving Conundrum
• Strategic succession planning has allowed LGBT Inclusion in Workplace An Evolving Conundrum to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

LGBT Inclusion in Workplace An Evolving Conundrum has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at LGBT Inclusion in Workplace An Evolving Conundrum are clearly defined and communicated to the employees
• LGBT Inclusion in Workplace An Evolving Conundrum 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 LGBT Inclusion in Workplace An Evolving Conundrum

2.6.2. People Management

• LGBT Inclusion in Workplace An Evolving Conundrum has also defined clear processes for people management through streamlining its human resource management department
• LGBT Inclusion in Workplace An Evolving Conundrum 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 LGBT Inclusion in Workplace An Evolving Conundrum to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• LGBT Inclusion in Workplace An Evolving Conundrum 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

• LGBT Inclusion in Workplace An Evolving Conundrum 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 LGBT Inclusion in Workplace An Evolving Conundrum 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 LGBT Inclusion in Workplace An Evolving Conundrum as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for LGBT Inclusion in Workplace An Evolving Conundrum include:

2.7.1. Store atmosphere

• The store design and management for LGBT Inclusion in Workplace An Evolving Conundrum 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 LGBT Inclusion in Workplace An Evolving Conundrum at ease
• The store design is also important for LGBT Inclusion in Workplace An Evolving Conundrum 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 LGBT Inclusion in Workplace An Evolving Conundrum 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

• LGBT Inclusion in Workplace An Evolving Conundrum has unique packaging, which is different from other players in the industry
• LGBT Inclusion in Workplace An Evolving Conundrum 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 LGBT Inclusion in Workplace An Evolving Conundrum
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by LGBT Inclusion in Workplace An Evolving Conundrum

2.7.3. Website design

• The website design is simple and easy to use
• LGBT Inclusion in Workplace An Evolving Conundrum has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of LGBT Inclusion in Workplace An Evolving Conundrum 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