Marketing Mix Of MARS INCORPORATED ONLINE PROCUREMENT

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 MARS INCORPORATED ONLINE PROCUREMENT

MARS INCORPORATED ONLINE PROCUREMENT makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix MARS INCORPORATED ONLINE PROCUREMENT is presented below:

2.1. Product

Product is one of the most important components of the MARS INCORPORATED ONLINE PROCUREMENT Marketing mix. The distinctive characteristics of the product by MARS INCORPORATED ONLINE PROCUREMENT are:

2.1.1. Quality

• MARS INCORPORATED ONLINE PROCUREMENT maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• MARS INCORPORATED ONLINE PROCUREMENT 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 MARS INCORPORATED ONLINE PROCUREMENT with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by MARS INCORPORATED ONLINE PROCUREMENT 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

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

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

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

2.3.2. Licensed stores

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

2.3.3. E-commerce

• MARS INCORPORATED ONLINE PROCUREMENT has developed a successfully operational website for online order placement and order tracking
• MARS INCORPORATED ONLINE PROCUREMENT 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 MARS INCORPORATED ONLINE PROCUREMENT and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

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

2.3.5. Partner agents

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

2.4.1. Digital marketing

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

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

2.4.3. Community Influencers

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

2.5. People

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

2.5.1. Training

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

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

• MARS INCORPORATED ONLINE PROCUREMENT employees are the face of the organization
• MARS INCORPORATED ONLINE PROCUREMENT are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that MARS INCORPORATED ONLINE PROCUREMENT 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

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

2.6. Process

MARS INCORPORATED ONLINE PROCUREMENT has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at MARS INCORPORATED ONLINE PROCUREMENT are clearly defined and communicated to the employees
• MARS INCORPORATED ONLINE PROCUREMENT 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 MARS INCORPORATED ONLINE PROCUREMENT

2.6.2. People Management

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

2.6.3. Quality maintenance

• MARS INCORPORATED ONLINE PROCUREMENT 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

• MARS INCORPORATED ONLINE PROCUREMENT 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 MARS INCORPORATED ONLINE PROCUREMENT 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 MARS INCORPORATED ONLINE PROCUREMENT as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for MARS INCORPORATED ONLINE PROCUREMENT include:

2.7.1. Store atmosphere

• The store design and management for MARS INCORPORATED ONLINE PROCUREMENT 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 MARS INCORPORATED ONLINE PROCUREMENT at ease
• The store design is also important for MARS INCORPORATED ONLINE PROCUREMENT 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 MARS INCORPORATED ONLINE PROCUREMENT 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

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

2.7.3. Website design

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