Marketing Mix Of Medicines for Malaria Venture Accessing the Inaccessible

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 Medicines for Malaria Venture Accessing the Inaccessible

Medicines for Malaria Venture Accessing the Inaccessible makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix Medicines for Malaria Venture Accessing the Inaccessible is presented below:

2.1. Product

Product is one of the most important components of the Medicines for Malaria Venture Accessing the Inaccessible Marketing mix. The distinctive characteristics of the product by Medicines for Malaria Venture Accessing the Inaccessible are:

2.1.1. Quality

• Medicines for Malaria Venture Accessing the Inaccessible maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• Medicines for Malaria Venture Accessing the Inaccessible 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 Medicines for Malaria Venture Accessing the Inaccessible with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by Medicines for Malaria Venture Accessing the Inaccessible 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

• Medicines for Malaria Venture Accessing the Inaccessible has a broad portfolio of products
• The broad portfolio helps Medicines for Malaria Venture Accessing the Inaccessible in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to Medicines for Malaria Venture Accessing the Inaccessible
• The broader product portfolio also adds more value for Medicines for Malaria Venture Accessing the Inaccessible

2.1.4. Benefits of product consumption

• Medicines for Malaria Venture Accessing the Inaccessible 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 Medicines for Malaria Venture Accessing the Inaccessible is its delivery of emotional benefits to the consumer
• Products manufactured and sold by Medicines for Malaria Venture Accessing the Inaccessible promise consumers an ego boost, confidence, and security
• Medicines for Malaria Venture Accessing the Inaccessible 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 Medicines for Malaria Venture Accessing the Inaccessible are available in different sizes
• Medicines for Malaria Venture Accessing the Inaccessible 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, Medicines for Malaria Venture Accessing the Inaccessible has also increased the trial rate
• Different SKUs have also helped Medicines for Malaria Venture Accessing the Inaccessible improve its product accessibility

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

Medicines for Malaria Venture Accessing the Inaccessible 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 Medicines for Malaria Venture Accessing the Inaccessible in all markets
• Company-operated stores give Medicines for Malaria Venture Accessing the Inaccessible higher control over operations as well as store layout and design
• Medicines for Malaria Venture Accessing the Inaccessible 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 Medicines for Malaria Venture Accessing the Inaccessible in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

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

2.3.3. E-commerce

• Medicines for Malaria Venture Accessing the Inaccessible has developed a successfully operational website for online order placement and order tracking
• Medicines for Malaria Venture Accessing the Inaccessible 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 Medicines for Malaria Venture Accessing the Inaccessible and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• Medicines for Malaria Venture Accessing the Inaccessible also places its products in supermarkets and hypermarkets across the country
• A large number of Medicines for Malaria Venture Accessing the Inaccessible target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for Medicines for Malaria Venture Accessing the Inaccessible

2.3.5. Partner agents

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

2.4.1. Digital marketing

• Medicines for Malaria Venture Accessing the Inaccessible has corporate profiles on all social media websites and portals
• Medicines for Malaria Venture Accessing the Inaccessible uses its social media presence to directly, engage with consumers
• This direct engagement and interaction allows Medicines for Malaria Venture Accessing the Inaccessible to understand the customers, their needs and demands
• Medicines for Malaria Venture Accessing the Inaccessible uses this feedback and incorporates it in its broader marketing and organizational strategy
• Medicines for Malaria Venture Accessing the Inaccessible 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

• Medicines for Malaria Venture Accessing the Inaccessible 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 Medicines for Malaria Venture Accessing the Inaccessible and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by Medicines for Malaria Venture Accessing the Inaccessible on high valued purchases
• Frequent usage and purchase of products by Medicines for Malaria Venture Accessing the Inaccessible also has rewards against the loyalty card

2.4.3. Community Influencers

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

2.5. People

The marketing mix of Medicines for Malaria Venture Accessing the Inaccessible also places an essential focus on people development and people building. This is because Medicines for Malaria Venture Accessing the Inaccessible realizes the importance of employees in building strong customer relationships. Medicines for Malaria Venture Accessing the Inaccessible develops its employee and people by focusing on the following aspects:

2.5.1. Training

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

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

• Medicines for Malaria Venture Accessing the Inaccessible employees are the face of the organization
• Medicines for Malaria Venture Accessing the Inaccessible are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that Medicines for Malaria Venture Accessing the Inaccessible 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

• Medicines for Malaria Venture Accessing the Inaccessible remains one of the leading players in the industry also because of its focus on succession planning
• Medicines for Malaria Venture Accessing the Inaccessible 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 Medicines for Malaria Venture Accessing the Inaccessible
• Strategic succession planning has allowed Medicines for Malaria Venture Accessing the Inaccessible to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

Medicines for Malaria Venture Accessing the Inaccessible has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at Medicines for Malaria Venture Accessing the Inaccessible are clearly defined and communicated to the employees
• Medicines for Malaria Venture Accessing the Inaccessible 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 Medicines for Malaria Venture Accessing the Inaccessible

2.6.2. People Management

• Medicines for Malaria Venture Accessing the Inaccessible has also defined clear processes for people management through streamlining its human resource management department
• Medicines for Malaria Venture Accessing the Inaccessible 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 Medicines for Malaria Venture Accessing the Inaccessible to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• Medicines for Malaria Venture Accessing the Inaccessible 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

• Medicines for Malaria Venture Accessing the Inaccessible 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 Medicines for Malaria Venture Accessing the Inaccessible 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 Medicines for Malaria Venture Accessing the Inaccessible as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for Medicines for Malaria Venture Accessing the Inaccessible include:

2.7.1. Store atmosphere

• The store design and management for Medicines for Malaria Venture Accessing the Inaccessible 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 Medicines for Malaria Venture Accessing the Inaccessible at ease
• The store design is also important for Medicines for Malaria Venture Accessing the Inaccessible 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 Medicines for Malaria Venture Accessing the Inaccessible 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

• Medicines for Malaria Venture Accessing the Inaccessible has unique packaging, which is different from other players in the industry
• Medicines for Malaria Venture Accessing the Inaccessible 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 Medicines for Malaria Venture Accessing the Inaccessible
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by Medicines for Malaria Venture Accessing the Inaccessible

2.7.3. Website design

• The website design is simple and easy to use
• Medicines for Malaria Venture Accessing the Inaccessible has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of Medicines for Malaria Venture Accessing the Inaccessible 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