Marketing Mix Of MANUFACTURING 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 MANUFACTURING INVESTMENT

MANUFACTURING INVESTMENT makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix MANUFACTURING INVESTMENT is presented below:

2.1. Product

Product is one of the most important components of the MANUFACTURING INVESTMENT Marketing mix. The distinctive characteristics of the product by MANUFACTURING INVESTMENT are:

2.1.1. Quality

• MANUFACTURING INVESTMENT maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• MANUFACTURING 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 MANUFACTURING INVESTMENT with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by MANUFACTURING 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

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

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

• Since MANUFACTURING 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, MANUFACTURING INVESTMENT also successfully adds more value to its products from the point of view of customers
• MANUFACTURING INVESTMENT also gains higher sales with psychological pricing
• Consumer purchase a higher amount of MANUFACTURING INVESTMENT products because of its use of psychological pricing
• MANUFACTURING INVESTMENT is able to increase its target audience and broaden its target purchaser groups

2.2.3. Geographical pricing

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

2.3. Placement

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

2.3.2. Licensed stores

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

2.3.3. E-commerce

• MANUFACTURING INVESTMENT has developed a successfully operational website for online order placement and order tracking
• MANUFACTURING 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 MANUFACTURING INVESTMENT and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

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

2.3.5. Partner agents

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

2.4.1. Digital marketing

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

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

2.4.3. Community Influencers

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

2.5. People

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

2.5.1. Training

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

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

• MANUFACTURING INVESTMENT employees are the face of the organization
• MANUFACTURING INVESTMENT are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that MANUFACTURING 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

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

2.6. Process

MANUFACTURING INVESTMENT has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at MANUFACTURING INVESTMENT are clearly defined and communicated to the employees
• MANUFACTURING 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 MANUFACTURING INVESTMENT

2.6.2. People Management

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

2.6.3. Quality maintenance

• MANUFACTURING 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

• MANUFACTURING 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 MANUFACTURING 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 MANUFACTURING INVESTMENT as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for MANUFACTURING INVESTMENT include:

2.7.1. Store atmosphere

• The store design and management for MANUFACTURING 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 MANUFACTURING INVESTMENT at ease
• The store design is also important for MANUFACTURING 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 MANUFACTURING 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

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

2.7.3. Website design

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