Marketing Mix Of Malaysia Airlines Bouncing Back from the Brink

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 Malaysia Airlines Bouncing Back from the Brink

Malaysia Airlines Bouncing Back from the Brink makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix Malaysia Airlines Bouncing Back from the Brink is presented below:

2.1. Product

Product is one of the most important components of the Malaysia Airlines Bouncing Back from the Brink Marketing mix. The distinctive characteristics of the product by Malaysia Airlines Bouncing Back from the Brink are:

2.1.1. Quality

• Malaysia Airlines Bouncing Back from the Brink maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• Malaysia Airlines Bouncing Back from the Brink 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 Malaysia Airlines Bouncing Back from the Brink with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by Malaysia Airlines Bouncing Back from the Brink 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

• Malaysia Airlines Bouncing Back from the Brink has a broad portfolio of products
• The broad portfolio helps Malaysia Airlines Bouncing Back from the Brink in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to Malaysia Airlines Bouncing Back from the Brink
• The broader product portfolio also adds more value for Malaysia Airlines Bouncing Back from the Brink

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

Malaysia Airlines Bouncing Back from the Brink 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 Malaysia Airlines Bouncing Back from the Brink in all markets
• Company-operated stores give Malaysia Airlines Bouncing Back from the Brink higher control over operations as well as store layout and design
• Malaysia Airlines Bouncing Back from the Brink 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 Malaysia Airlines Bouncing Back from the Brink in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

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

2.3.3. E-commerce

• Malaysia Airlines Bouncing Back from the Brink has developed a successfully operational website for online order placement and order tracking
• Malaysia Airlines Bouncing Back from the Brink 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 Malaysia Airlines Bouncing Back from the Brink and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• Malaysia Airlines Bouncing Back from the Brink also places its products in supermarkets and hypermarkets across the country
• A large number of Malaysia Airlines Bouncing Back from the Brink target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for Malaysia Airlines Bouncing Back from the Brink

2.3.5. Partner agents

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

2.4.1. Digital marketing

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

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

2.4.3. Community Influencers

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

2.5. People

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

2.5.1. Training

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

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

• Malaysia Airlines Bouncing Back from the Brink employees are the face of the organization
• Malaysia Airlines Bouncing Back from the Brink are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that Malaysia Airlines Bouncing Back from the Brink 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

• Malaysia Airlines Bouncing Back from the Brink remains one of the leading players in the industry also because of its focus on succession planning
• Malaysia Airlines Bouncing Back from the Brink 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 Malaysia Airlines Bouncing Back from the Brink
• Strategic succession planning has allowed Malaysia Airlines Bouncing Back from the Brink to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

Malaysia Airlines Bouncing Back from the Brink has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at Malaysia Airlines Bouncing Back from the Brink are clearly defined and communicated to the employees
• Malaysia Airlines Bouncing Back from the Brink 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 Malaysia Airlines Bouncing Back from the Brink

2.6.2. People Management

• Malaysia Airlines Bouncing Back from the Brink has also defined clear processes for people management through streamlining its human resource management department
• Malaysia Airlines Bouncing Back from the Brink 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 Malaysia Airlines Bouncing Back from the Brink to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• Malaysia Airlines Bouncing Back from the Brink 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

• Malaysia Airlines Bouncing Back from the Brink 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 Malaysia Airlines Bouncing Back from the Brink 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 Malaysia Airlines Bouncing Back from the Brink as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for Malaysia Airlines Bouncing Back from the Brink include:

2.7.1. Store atmosphere

• The store design and management for Malaysia Airlines Bouncing Back from the Brink 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 Malaysia Airlines Bouncing Back from the Brink at ease
• The store design is also important for Malaysia Airlines Bouncing Back from the Brink 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 Malaysia Airlines Bouncing Back from the Brink 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

• Malaysia Airlines Bouncing Back from the Brink has unique packaging, which is different from other players in the industry
• Malaysia Airlines Bouncing Back from the Brink 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 Malaysia Airlines Bouncing Back from the Brink
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by Malaysia Airlines Bouncing Back from the Brink

2.7.3. Website design

• The website design is simple and easy to use
• Malaysia Airlines Bouncing Back from the Brink has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of Malaysia Airlines Bouncing Back from the Brink 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