Marketing Mix Of MacTara Limited and the Wood Products Industry in Nova Scotia

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 MacTara Limited and the Wood Products Industry in Nova Scotia

MacTara Limited and the Wood Products Industry in Nova Scotia makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix MacTara Limited and the Wood Products Industry in Nova Scotia is presented below:

2.1. Product

Product is one of the most important components of the MacTara Limited and the Wood Products Industry in Nova Scotia Marketing mix. The distinctive characteristics of the product by MacTara Limited and the Wood Products Industry in Nova Scotia are:

2.1.1. Quality

• MacTara Limited and the Wood Products Industry in Nova Scotia maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• MacTara Limited and the Wood Products Industry in Nova Scotia 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 MacTara Limited and the Wood Products Industry in Nova Scotia with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by MacTara Limited and the Wood Products Industry in Nova Scotia 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

• MacTara Limited and the Wood Products Industry in Nova Scotia has a broad portfolio of products
• The broad portfolio helps MacTara Limited and the Wood Products Industry in Nova Scotia in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to MacTara Limited and the Wood Products Industry in Nova Scotia
• The broader product portfolio also adds more value for MacTara Limited and the Wood Products Industry in Nova Scotia

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

• Since MacTara Limited and the Wood Products Industry in Nova Scotia has a number of different product ranges and product groups, the use of psychological pricing has been beneficial
• With the use of psychological pricing, MacTara Limited and the Wood Products Industry in Nova Scotia also successfully adds more value to its products from the point of view of customers
• MacTara Limited and the Wood Products Industry in Nova Scotia also gains higher sales with psychological pricing
• Consumer purchase a higher amount of MacTara Limited and the Wood Products Industry in Nova Scotia products because of its use of psychological pricing
• MacTara Limited and the Wood Products Industry in Nova Scotia is able to increase its target audience and broaden its target purchaser groups

2.2.3. Geographical pricing

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

2.3. Placement

MacTara Limited and the Wood Products Industry in Nova Scotia 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 MacTara Limited and the Wood Products Industry in Nova Scotia in all markets
• Company-operated stores give MacTara Limited and the Wood Products Industry in Nova Scotia higher control over operations as well as store layout and design
• MacTara Limited and the Wood Products Industry in Nova Scotia 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 MacTara Limited and the Wood Products Industry in Nova Scotia in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

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

2.3.3. E-commerce

• MacTara Limited and the Wood Products Industry in Nova Scotia has developed a successfully operational website for online order placement and order tracking
• MacTara Limited and the Wood Products Industry in Nova Scotia 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 MacTara Limited and the Wood Products Industry in Nova Scotia and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• MacTara Limited and the Wood Products Industry in Nova Scotia also places its products in supermarkets and hypermarkets across the country
• A large number of MacTara Limited and the Wood Products Industry in Nova Scotia target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for MacTara Limited and the Wood Products Industry in Nova Scotia

2.3.5. Partner agents

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

2.4.1. Digital marketing

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

• MacTara Limited and the Wood Products Industry in Nova Scotia 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 MacTara Limited and the Wood Products Industry in Nova Scotia and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by MacTara Limited and the Wood Products Industry in Nova Scotia on high valued purchases
• Frequent usage and purchase of products by MacTara Limited and the Wood Products Industry in Nova Scotia also has rewards against the loyalty card

2.4.3. Community Influencers

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

2.5. People

The marketing mix of MacTara Limited and the Wood Products Industry in Nova Scotia also places an essential focus on people development and people building. This is because MacTara Limited and the Wood Products Industry in Nova Scotia realizes the importance of employees in building strong customer relationships. MacTara Limited and the Wood Products Industry in Nova Scotia develops its employee and people by focusing on the following aspects:

2.5.1. Training

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

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

• MacTara Limited and the Wood Products Industry in Nova Scotia employees are the face of the organization
• MacTara Limited and the Wood Products Industry in Nova Scotia are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that MacTara Limited and the Wood Products Industry in Nova Scotia 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

• MacTara Limited and the Wood Products Industry in Nova Scotia remains one of the leading players in the industry also because of its focus on succession planning
• MacTara Limited and the Wood Products Industry in Nova Scotia 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 MacTara Limited and the Wood Products Industry in Nova Scotia
• Strategic succession planning has allowed MacTara Limited and the Wood Products Industry in Nova Scotia to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

MacTara Limited and the Wood Products Industry in Nova Scotia has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at MacTara Limited and the Wood Products Industry in Nova Scotia are clearly defined and communicated to the employees
• MacTara Limited and the Wood Products Industry in Nova Scotia 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 MacTara Limited and the Wood Products Industry in Nova Scotia

2.6.2. People Management

• MacTara Limited and the Wood Products Industry in Nova Scotia has also defined clear processes for people management through streamlining its human resource management department
• MacTara Limited and the Wood Products Industry in Nova Scotia 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 MacTara Limited and the Wood Products Industry in Nova Scotia to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• MacTara Limited and the Wood Products Industry in Nova Scotia 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

• MacTara Limited and the Wood Products Industry in Nova Scotia 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 MacTara Limited and the Wood Products Industry in Nova Scotia 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 MacTara Limited and the Wood Products Industry in Nova Scotia as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for MacTara Limited and the Wood Products Industry in Nova Scotia include:

2.7.1. Store atmosphere

• The store design and management for MacTara Limited and the Wood Products Industry in Nova Scotia 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 MacTara Limited and the Wood Products Industry in Nova Scotia at ease
• The store design is also important for MacTara Limited and the Wood Products Industry in Nova Scotia 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 MacTara Limited and the Wood Products Industry in Nova Scotia 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

• MacTara Limited and the Wood Products Industry in Nova Scotia has unique packaging, which is different from other players in the industry
• MacTara Limited and the Wood Products Industry in Nova Scotia 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 MacTara Limited and the Wood Products Industry in Nova Scotia
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by MacTara Limited and the Wood Products Industry in Nova Scotia

2.7.3. Website design

• The website design is simple and easy to use
• MacTara Limited and the Wood Products Industry in Nova Scotia has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of MacTara Limited and the Wood Products Industry in Nova Scotia 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