Marketing Mix Of MIT Mystery Hunt The Answer is Secondary Spanish Version

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 MIT Mystery Hunt The Answer is Secondary Spanish Version

MIT Mystery Hunt The Answer is Secondary Spanish Version makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix MIT Mystery Hunt The Answer is Secondary Spanish Version is presented below:

2.1. Product

Product is one of the most important components of the MIT Mystery Hunt The Answer is Secondary Spanish Version Marketing mix. The distinctive characteristics of the product by MIT Mystery Hunt The Answer is Secondary Spanish Version are:

2.1.1. Quality

• MIT Mystery Hunt The Answer is Secondary Spanish Version maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• MIT Mystery Hunt The Answer is Secondary Spanish Version 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 MIT Mystery Hunt The Answer is Secondary Spanish Version with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by MIT Mystery Hunt The Answer is Secondary Spanish Version 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

• MIT Mystery Hunt The Answer is Secondary Spanish Version has a broad portfolio of products
• The broad portfolio helps MIT Mystery Hunt The Answer is Secondary Spanish Version in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to MIT Mystery Hunt The Answer is Secondary Spanish Version
• The broader product portfolio also adds more value for MIT Mystery Hunt The Answer is Secondary Spanish Version

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

• Since MIT Mystery Hunt The Answer is Secondary Spanish Version has a number of different product ranges and product groups, the use of psychological pricing has been beneficial
• With the use of psychological pricing, MIT Mystery Hunt The Answer is Secondary Spanish Version also successfully adds more value to its products from the point of view of customers
• MIT Mystery Hunt The Answer is Secondary Spanish Version also gains higher sales with psychological pricing
• Consumer purchase a higher amount of MIT Mystery Hunt The Answer is Secondary Spanish Version products because of its use of psychological pricing
• MIT Mystery Hunt The Answer is Secondary Spanish Version is able to increase its target audience and broaden its target purchaser groups

2.2.3. Geographical pricing

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

2.3. Placement

MIT Mystery Hunt The Answer is Secondary Spanish Version 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 MIT Mystery Hunt The Answer is Secondary Spanish Version in all markets
• Company-operated stores give MIT Mystery Hunt The Answer is Secondary Spanish Version higher control over operations as well as store layout and design
• MIT Mystery Hunt The Answer is Secondary Spanish Version 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 MIT Mystery Hunt The Answer is Secondary Spanish Version in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

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

2.3.3. E-commerce

• MIT Mystery Hunt The Answer is Secondary Spanish Version has developed a successfully operational website for online order placement and order tracking
• MIT Mystery Hunt The Answer is Secondary Spanish Version 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 MIT Mystery Hunt The Answer is Secondary Spanish Version and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• MIT Mystery Hunt The Answer is Secondary Spanish Version also places its products in supermarkets and hypermarkets across the country
• A large number of MIT Mystery Hunt The Answer is Secondary Spanish Version target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for MIT Mystery Hunt The Answer is Secondary Spanish Version

2.3.5. Partner agents

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

2.4.1. Digital marketing

• MIT Mystery Hunt The Answer is Secondary Spanish Version has corporate profiles on all social media websites and portals
• MIT Mystery Hunt The Answer is Secondary Spanish Version uses its social media presence to directly, engage with consumers
• This direct engagement and interaction allows MIT Mystery Hunt The Answer is Secondary Spanish Version to understand the customers, their needs and demands
• MIT Mystery Hunt The Answer is Secondary Spanish Version uses this feedback and incorporates it in its broader marketing and organizational strategy
• MIT Mystery Hunt The Answer is Secondary Spanish Version 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

• MIT Mystery Hunt The Answer is Secondary Spanish Version 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 MIT Mystery Hunt The Answer is Secondary Spanish Version and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by MIT Mystery Hunt The Answer is Secondary Spanish Version on high valued purchases
• Frequent usage and purchase of products by MIT Mystery Hunt The Answer is Secondary Spanish Version also has rewards against the loyalty card

2.4.3. Community Influencers

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

2.5. People

The marketing mix of MIT Mystery Hunt The Answer is Secondary Spanish Version also places an essential focus on people development and people building. This is because MIT Mystery Hunt The Answer is Secondary Spanish Version realizes the importance of employees in building strong customer relationships. MIT Mystery Hunt The Answer is Secondary Spanish Version develops its employee and people by focusing on the following aspects:

2.5.1. Training

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

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

• MIT Mystery Hunt The Answer is Secondary Spanish Version employees are the face of the organization
• MIT Mystery Hunt The Answer is Secondary Spanish Version are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that MIT Mystery Hunt The Answer is Secondary Spanish Version 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

• MIT Mystery Hunt The Answer is Secondary Spanish Version remains one of the leading players in the industry also because of its focus on succession planning
• MIT Mystery Hunt The Answer is Secondary Spanish Version 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 MIT Mystery Hunt The Answer is Secondary Spanish Version
• Strategic succession planning has allowed MIT Mystery Hunt The Answer is Secondary Spanish Version to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

MIT Mystery Hunt The Answer is Secondary Spanish Version has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at MIT Mystery Hunt The Answer is Secondary Spanish Version are clearly defined and communicated to the employees
• MIT Mystery Hunt The Answer is Secondary Spanish Version 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 MIT Mystery Hunt The Answer is Secondary Spanish Version

2.6.2. People Management

• MIT Mystery Hunt The Answer is Secondary Spanish Version has also defined clear processes for people management through streamlining its human resource management department
• MIT Mystery Hunt The Answer is Secondary Spanish Version 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 MIT Mystery Hunt The Answer is Secondary Spanish Version to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• MIT Mystery Hunt The Answer is Secondary Spanish Version 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

• MIT Mystery Hunt The Answer is Secondary Spanish Version 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 MIT Mystery Hunt The Answer is Secondary Spanish Version 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 MIT Mystery Hunt The Answer is Secondary Spanish Version as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for MIT Mystery Hunt The Answer is Secondary Spanish Version include:

2.7.1. Store atmosphere

• The store design and management for MIT Mystery Hunt The Answer is Secondary Spanish Version 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 MIT Mystery Hunt The Answer is Secondary Spanish Version at ease
• The store design is also important for MIT Mystery Hunt The Answer is Secondary Spanish Version 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 MIT Mystery Hunt The Answer is Secondary Spanish Version 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

• MIT Mystery Hunt The Answer is Secondary Spanish Version has unique packaging, which is different from other players in the industry
• MIT Mystery Hunt The Answer is Secondary Spanish Version 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 MIT Mystery Hunt The Answer is Secondary Spanish Version
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by MIT Mystery Hunt The Answer is Secondary Spanish Version

2.7.3. Website design

• The website design is simple and easy to use
• MIT Mystery Hunt The Answer is Secondary Spanish Version has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of MIT Mystery Hunt The Answer is Secondary Spanish Version 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