Marketing Mix Of Merging Esso Iceland and Bilanaust C

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 Merging Esso Iceland and Bilanaust C

Merging Esso Iceland and Bilanaust C makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix Merging Esso Iceland and Bilanaust C is presented below:

2.1. Product

Product is one of the most important components of the Merging Esso Iceland and Bilanaust C Marketing mix. The distinctive characteristics of the product by Merging Esso Iceland and Bilanaust C are:

2.1.1. Quality

• Merging Esso Iceland and Bilanaust C maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• Merging Esso Iceland and Bilanaust C 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 Merging Esso Iceland and Bilanaust C with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by Merging Esso Iceland and Bilanaust C 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

• Merging Esso Iceland and Bilanaust C has a broad portfolio of products
• The broad portfolio helps Merging Esso Iceland and Bilanaust C in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to Merging Esso Iceland and Bilanaust C
• The broader product portfolio also adds more value for Merging Esso Iceland and Bilanaust C

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

Merging Esso Iceland and Bilanaust C 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 Merging Esso Iceland and Bilanaust C in all markets
• Company-operated stores give Merging Esso Iceland and Bilanaust C higher control over operations as well as store layout and design
• Merging Esso Iceland and Bilanaust C 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 Merging Esso Iceland and Bilanaust C in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

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

2.3.3. E-commerce

• Merging Esso Iceland and Bilanaust C has developed a successfully operational website for online order placement and order tracking
• Merging Esso Iceland and Bilanaust C 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 Merging Esso Iceland and Bilanaust C and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• Merging Esso Iceland and Bilanaust C also places its products in supermarkets and hypermarkets across the country
• A large number of Merging Esso Iceland and Bilanaust C target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for Merging Esso Iceland and Bilanaust C

2.3.5. Partner agents

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

2.4.1. Digital marketing

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

• Merging Esso Iceland and Bilanaust C 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 Merging Esso Iceland and Bilanaust C and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by Merging Esso Iceland and Bilanaust C on high valued purchases
• Frequent usage and purchase of products by Merging Esso Iceland and Bilanaust C also has rewards against the loyalty card

2.4.3. Community Influencers

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

2.5. People

The marketing mix of Merging Esso Iceland and Bilanaust C also places an essential focus on people development and people building. This is because Merging Esso Iceland and Bilanaust C realizes the importance of employees in building strong customer relationships. Merging Esso Iceland and Bilanaust C develops its employee and people by focusing on the following aspects:

2.5.1. Training

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

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

• Merging Esso Iceland and Bilanaust C employees are the face of the organization
• Merging Esso Iceland and Bilanaust C are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that Merging Esso Iceland and Bilanaust C 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

• Merging Esso Iceland and Bilanaust C remains one of the leading players in the industry also because of its focus on succession planning
• Merging Esso Iceland and Bilanaust C 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 Merging Esso Iceland and Bilanaust C
• Strategic succession planning has allowed Merging Esso Iceland and Bilanaust C to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

Merging Esso Iceland and Bilanaust C has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at Merging Esso Iceland and Bilanaust C are clearly defined and communicated to the employees
• Merging Esso Iceland and Bilanaust C 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 Merging Esso Iceland and Bilanaust C

2.6.2. People Management

• Merging Esso Iceland and Bilanaust C has also defined clear processes for people management through streamlining its human resource management department
• Merging Esso Iceland and Bilanaust C 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 Merging Esso Iceland and Bilanaust C to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• Merging Esso Iceland and Bilanaust C 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

• Merging Esso Iceland and Bilanaust C 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 Merging Esso Iceland and Bilanaust C 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 Merging Esso Iceland and Bilanaust C as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for Merging Esso Iceland and Bilanaust C include:

2.7.1. Store atmosphere

• The store design and management for Merging Esso Iceland and Bilanaust C 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 Merging Esso Iceland and Bilanaust C at ease
• The store design is also important for Merging Esso Iceland and Bilanaust C 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 Merging Esso Iceland and Bilanaust C 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

• Merging Esso Iceland and Bilanaust C has unique packaging, which is different from other players in the industry
• Merging Esso Iceland and Bilanaust C 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 Merging Esso Iceland and Bilanaust C
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by Merging Esso Iceland and Bilanaust C

2.7.3. Website design

• The website design is simple and easy to use
• Merging Esso Iceland and Bilanaust C has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of Merging Esso Iceland and Bilanaust C 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