Marketing Mix Of Miles Davis Kind of Blue

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 Miles Davis Kind of Blue

Miles Davis Kind of Blue makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix Miles Davis Kind of Blue is presented below:

2.1. Product

Product is one of the most important components of the Miles Davis Kind of Blue Marketing mix. The distinctive characteristics of the product by Miles Davis Kind of Blue are:

2.1.1. Quality

• Miles Davis Kind of Blue maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• Miles Davis Kind of Blue 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 Miles Davis Kind of Blue with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by Miles Davis Kind of Blue 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

• Miles Davis Kind of Blue has a broad portfolio of products
• The broad portfolio helps Miles Davis Kind of Blue in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to Miles Davis Kind of Blue
• The broader product portfolio also adds more value for Miles Davis Kind of Blue

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

Miles Davis Kind of Blue 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 Miles Davis Kind of Blue in all markets
• Company-operated stores give Miles Davis Kind of Blue higher control over operations as well as store layout and design
• Miles Davis Kind of Blue 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 Miles Davis Kind of Blue in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

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

2.3.3. E-commerce

• Miles Davis Kind of Blue has developed a successfully operational website for online order placement and order tracking
• Miles Davis Kind of Blue 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 Miles Davis Kind of Blue and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• Miles Davis Kind of Blue also places its products in supermarkets and hypermarkets across the country
• A large number of Miles Davis Kind of Blue target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for Miles Davis Kind of Blue

2.3.5. Partner agents

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

2.4.1. Digital marketing

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

• Miles Davis Kind of Blue 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 Miles Davis Kind of Blue and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by Miles Davis Kind of Blue on high valued purchases
• Frequent usage and purchase of products by Miles Davis Kind of Blue also has rewards against the loyalty card

2.4.3. Community Influencers

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

2.5. People

The marketing mix of Miles Davis Kind of Blue also places an essential focus on people development and people building. This is because Miles Davis Kind of Blue realizes the importance of employees in building strong customer relationships. Miles Davis Kind of Blue develops its employee and people by focusing on the following aspects:

2.5.1. Training

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

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

• Miles Davis Kind of Blue employees are the face of the organization
• Miles Davis Kind of Blue are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that Miles Davis Kind of Blue 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

• Miles Davis Kind of Blue remains one of the leading players in the industry also because of its focus on succession planning
• Miles Davis Kind of Blue 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 Miles Davis Kind of Blue
• Strategic succession planning has allowed Miles Davis Kind of Blue to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

Miles Davis Kind of Blue has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at Miles Davis Kind of Blue are clearly defined and communicated to the employees
• Miles Davis Kind of Blue 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 Miles Davis Kind of Blue

2.6.2. People Management

• Miles Davis Kind of Blue has also defined clear processes for people management through streamlining its human resource management department
• Miles Davis Kind of Blue 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 Miles Davis Kind of Blue to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• Miles Davis Kind of Blue 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

• Miles Davis Kind of Blue 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 Miles Davis Kind of Blue 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 Miles Davis Kind of Blue as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for Miles Davis Kind of Blue include:

2.7.1. Store atmosphere

• The store design and management for Miles Davis Kind of Blue 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 Miles Davis Kind of Blue at ease
• The store design is also important for Miles Davis Kind of Blue 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 Miles Davis Kind of Blue 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

• Miles Davis Kind of Blue has unique packaging, which is different from other players in the industry
• Miles Davis Kind of Blue 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 Miles Davis Kind of Blue
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by Miles Davis Kind of Blue

2.7.3. Website design

• The website design is simple and easy to use
• Miles Davis Kind of Blue has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of Miles Davis Kind of Blue 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