Marketing Mix Of Managing Performance at Haier B

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 Managing Performance at Haier B

Managing Performance at Haier B makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix Managing Performance at Haier B is presented below:

2.1. Product

Product is one of the most important components of the Managing Performance at Haier B Marketing mix. The distinctive characteristics of the product by Managing Performance at Haier B are:

2.1.1. Quality

• Managing Performance at Haier B maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• Managing Performance at Haier B 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 Managing Performance at Haier B with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by Managing Performance at Haier B 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

• Managing Performance at Haier B has a broad portfolio of products
• The broad portfolio helps Managing Performance at Haier B in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to Managing Performance at Haier B
• The broader product portfolio also adds more value for Managing Performance at Haier B

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

Managing Performance at Haier B 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 Managing Performance at Haier B in all markets
• Company-operated stores give Managing Performance at Haier B higher control over operations as well as store layout and design
• Managing Performance at Haier B 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 Managing Performance at Haier B in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

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

2.3.3. E-commerce

• Managing Performance at Haier B has developed a successfully operational website for online order placement and order tracking
• Managing Performance at Haier B 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 Managing Performance at Haier B and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• Managing Performance at Haier B also places its products in supermarkets and hypermarkets across the country
• A large number of Managing Performance at Haier B target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for Managing Performance at Haier B

2.3.5. Partner agents

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

2.4.1. Digital marketing

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

• Managing Performance at Haier B 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 Managing Performance at Haier B and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by Managing Performance at Haier B on high valued purchases
• Frequent usage and purchase of products by Managing Performance at Haier B also has rewards against the loyalty card

2.4.3. Community Influencers

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

2.5. People

The marketing mix of Managing Performance at Haier B also places an essential focus on people development and people building. This is because Managing Performance at Haier B realizes the importance of employees in building strong customer relationships. Managing Performance at Haier B develops its employee and people by focusing on the following aspects:

2.5.1. Training

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

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

• Managing Performance at Haier B employees are the face of the organization
• Managing Performance at Haier B are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that Managing Performance at Haier B 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

• Managing Performance at Haier B remains one of the leading players in the industry also because of its focus on succession planning
• Managing Performance at Haier B 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 Managing Performance at Haier B
• Strategic succession planning has allowed Managing Performance at Haier B to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

Managing Performance at Haier B has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at Managing Performance at Haier B are clearly defined and communicated to the employees
• Managing Performance at Haier B 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 Managing Performance at Haier B

2.6.2. People Management

• Managing Performance at Haier B has also defined clear processes for people management through streamlining its human resource management department
• Managing Performance at Haier B 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 Managing Performance at Haier B to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• Managing Performance at Haier B 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

• Managing Performance at Haier B 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 Managing Performance at Haier B 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 Managing Performance at Haier B as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for Managing Performance at Haier B include:

2.7.1. Store atmosphere

• The store design and management for Managing Performance at Haier B 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 Managing Performance at Haier B at ease
• The store design is also important for Managing Performance at Haier B 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 Managing Performance at Haier B 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

• Managing Performance at Haier B has unique packaging, which is different from other players in the industry
• Managing Performance at Haier B 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 Managing Performance at Haier B
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by Managing Performance at Haier B

2.7.3. Website design

• The website design is simple and easy to use
• Managing Performance at Haier B has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of Managing Performance at Haier B 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