Marketing Mix Of Macquarie Bank Limited Executive Compensation

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 Macquarie Bank Limited Executive Compensation

Macquarie Bank Limited Executive Compensation makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix Macquarie Bank Limited Executive Compensation is presented below:

2.1. Product

Product is one of the most important components of the Macquarie Bank Limited Executive Compensation Marketing mix. The distinctive characteristics of the product by Macquarie Bank Limited Executive Compensation are:

2.1.1. Quality

• Macquarie Bank Limited Executive Compensation maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• Macquarie Bank Limited Executive Compensation 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 Macquarie Bank Limited Executive Compensation with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by Macquarie Bank Limited Executive Compensation 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

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

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

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

2.3.2. Licensed stores

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

2.3.3. E-commerce

• Macquarie Bank Limited Executive Compensation has developed a successfully operational website for online order placement and order tracking
• Macquarie Bank Limited Executive Compensation 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 Macquarie Bank Limited Executive Compensation and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• Macquarie Bank Limited Executive Compensation also places its products in supermarkets and hypermarkets across the country
• A large number of Macquarie Bank Limited Executive Compensation target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for Macquarie Bank Limited Executive Compensation

2.3.5. Partner agents

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

2.4.1. Digital marketing

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

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

2.4.3. Community Influencers

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

2.5. People

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

2.5.1. Training

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

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

• Macquarie Bank Limited Executive Compensation employees are the face of the organization
• Macquarie Bank Limited Executive Compensation are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that Macquarie Bank Limited Executive Compensation 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

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

2.6. Process

Macquarie Bank Limited Executive Compensation has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at Macquarie Bank Limited Executive Compensation are clearly defined and communicated to the employees
• Macquarie Bank Limited Executive Compensation 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 Macquarie Bank Limited Executive Compensation

2.6.2. People Management

• Macquarie Bank Limited Executive Compensation has also defined clear processes for people management through streamlining its human resource management department
• Macquarie Bank Limited Executive Compensation 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 Macquarie Bank Limited Executive Compensation to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• Macquarie Bank Limited Executive Compensation 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

• Macquarie Bank Limited Executive Compensation 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 Macquarie Bank Limited Executive Compensation 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 Macquarie Bank Limited Executive Compensation as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for Macquarie Bank Limited Executive Compensation include:

2.7.1. Store atmosphere

• The store design and management for Macquarie Bank Limited Executive Compensation 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 Macquarie Bank Limited Executive Compensation at ease
• The store design is also important for Macquarie Bank Limited Executive Compensation 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 Macquarie Bank Limited Executive Compensation 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

• Macquarie Bank Limited Executive Compensation has unique packaging, which is different from other players in the industry
• Macquarie Bank Limited Executive Compensation 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 Macquarie Bank Limited Executive Compensation
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by Macquarie Bank Limited Executive Compensation

2.7.3. Website design

• The website design is simple and easy to use
• Macquarie Bank Limited Executive Compensation has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of Macquarie Bank Limited Executive Compensation 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