Marketing Mix Of Malaysia s Genting Gambling on the West

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 s Genting Gambling on the West

Malaysia s Genting Gambling on the West makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix Malaysia s Genting Gambling on the West is presented below:

2.1. Product

Product is one of the most important components of the Malaysia s Genting Gambling on the West Marketing mix. The distinctive characteristics of the product by Malaysia s Genting Gambling on the West are:

2.1.1. Quality

• Malaysia s Genting Gambling on the West maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• Malaysia s Genting Gambling on the West 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 s Genting Gambling on the West with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by Malaysia s Genting Gambling on the West 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 s Genting Gambling on the West has a broad portfolio of products
• The broad portfolio helps Malaysia s Genting Gambling on the West in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to Malaysia s Genting Gambling on the West
• The broader product portfolio also adds more value for Malaysia s Genting Gambling on the West

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

• Since Malaysia s Genting Gambling on the West 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 s Genting Gambling on the West also successfully adds more value to its products from the point of view of customers
• Malaysia s Genting Gambling on the West also gains higher sales with psychological pricing
• Consumer purchase a higher amount of Malaysia s Genting Gambling on the West products because of its use of psychological pricing
• Malaysia s Genting Gambling on the West is able to increase its target audience and broaden its target purchaser groups

2.2.3. Geographical pricing

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

2.3. Placement

Malaysia s Genting Gambling on the West 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 s Genting Gambling on the West in all markets
• Company-operated stores give Malaysia s Genting Gambling on the West higher control over operations as well as store layout and design
• Malaysia s Genting Gambling on the West 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 s Genting Gambling on the West in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

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

2.3.3. E-commerce

• Malaysia s Genting Gambling on the West has developed a successfully operational website for online order placement and order tracking
• Malaysia s Genting Gambling on the West 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 s Genting Gambling on the West and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• Malaysia s Genting Gambling on the West also places its products in supermarkets and hypermarkets across the country
• A large number of Malaysia s Genting Gambling on the West target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for Malaysia s Genting Gambling on the West

2.3.5. Partner agents

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

2.4.1. Digital marketing

• Malaysia s Genting Gambling on the West has corporate profiles on all social media websites and portals
• Malaysia s Genting Gambling on the West uses its social media presence to directly, engage with consumers
• This direct engagement and interaction allows Malaysia s Genting Gambling on the West to understand the customers, their needs and demands
• Malaysia s Genting Gambling on the West uses this feedback and incorporates it in its broader marketing and organizational strategy
• Malaysia s Genting Gambling on the West 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 s Genting Gambling on the West 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 s Genting Gambling on the West and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by Malaysia s Genting Gambling on the West on high valued purchases
• Frequent usage and purchase of products by Malaysia s Genting Gambling on the West also has rewards against the loyalty card

2.4.3. Community Influencers

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

2.5. People

The marketing mix of Malaysia s Genting Gambling on the West also places an essential focus on people development and people building. This is because Malaysia s Genting Gambling on the West realizes the importance of employees in building strong customer relationships. Malaysia s Genting Gambling on the West develops its employee and people by focusing on the following aspects:

2.5.1. Training

• Malaysia s Genting Gambling on the West makes sure that all employees undergo regular training sessions for skill development and enhancement
• Trainings at Malaysia s Genting Gambling on the West are not the only field related, but also focus on essential management and organizational skills
• Training sessions and activities at Malaysia s Genting Gambling on the West also identify with the employee's own needs of progression, development and growth
• All training sessions and activities designed and carried out by Malaysia s Genting Gambling on the West take into consideration business goals and objectives, as well as employee's personal goals and aspirations
• Malaysia s Genting Gambling on the West, 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 s Genting Gambling on the West works on strengthening the organizational commitment in its employees
• Malaysia s Genting Gambling on the West builds employee loyalty so that people can reflect their optimal best at work
• Malaysia s Genting Gambling on the West also understands that satisfied employees will lead to happy and satisfied customers
• Malaysia s Genting Gambling on the West regularly shares different reward programs for employees, including stock sharing, so that their organizational commitment and ownership is enhanced
• Malaysia s Genting Gambling on the West 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 s Genting Gambling on the West employees are the face of the organization
• Malaysia s Genting Gambling on the West are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that Malaysia s Genting Gambling on the West 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 s Genting Gambling on the West remains one of the leading players in the industry also because of its focus on succession planning
• Malaysia s Genting Gambling on the West 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 s Genting Gambling on the West
• Strategic succession planning has allowed Malaysia s Genting Gambling on the West to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

Malaysia s Genting Gambling on the West has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at Malaysia s Genting Gambling on the West are clearly defined and communicated to the employees
• Malaysia s Genting Gambling on the West 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 s Genting Gambling on the West

2.6.2. People Management

• Malaysia s Genting Gambling on the West has also defined clear processes for people management through streamlining its human resource management department
• Malaysia s Genting Gambling on the West 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 s Genting Gambling on the West to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• Malaysia s Genting Gambling on the West 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 s Genting Gambling on the West 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 s Genting Gambling on the West 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 s Genting Gambling on the West as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for Malaysia s Genting Gambling on the West include:

2.7.1. Store atmosphere

• The store design and management for Malaysia s Genting Gambling on the West 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 s Genting Gambling on the West at ease
• The store design is also important for Malaysia s Genting Gambling on the West 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 s Genting Gambling on the West 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 s Genting Gambling on the West has unique packaging, which is different from other players in the industry
• Malaysia s Genting Gambling on the West 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 s Genting Gambling on the West
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by Malaysia s Genting Gambling on the West

2.7.3. Website design

• The website design is simple and easy to use
• Malaysia s Genting Gambling on the West has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of Malaysia s Genting Gambling on the West 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