Marketing Mix Of Patrik Bernstein A From Suit to Jeans

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 Patrik Bernstein A From Suit to Jeans

Patrik Bernstein A From Suit to Jeans makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix Patrik Bernstein A From Suit to Jeans is presented below:

2.1. Product

Product is one of the most important components of the Patrik Bernstein A From Suit to Jeans Marketing mix. The distinctive characteristics of the product by Patrik Bernstein A From Suit to Jeans are:

2.1.1. Quality

• Patrik Bernstein A From Suit to Jeans maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• Patrik Bernstein A From Suit to Jeans 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 Patrik Bernstein A From Suit to Jeans with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by Patrik Bernstein A From Suit to Jeans 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

• Patrik Bernstein A From Suit to Jeans has a broad portfolio of products
• The broad portfolio helps Patrik Bernstein A From Suit to Jeans in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to Patrik Bernstein A From Suit to Jeans
• The broader product portfolio also adds more value for Patrik Bernstein A From Suit to Jeans

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

Patrik Bernstein A From Suit to Jeans 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 Patrik Bernstein A From Suit to Jeans in all markets
• Company-operated stores give Patrik Bernstein A From Suit to Jeans higher control over operations as well as store layout and design
• Patrik Bernstein A From Suit to Jeans 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 Patrik Bernstein A From Suit to Jeans in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

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

2.3.3. E-commerce

• Patrik Bernstein A From Suit to Jeans has developed a successfully operational website for online order placement and order tracking
• Patrik Bernstein A From Suit to Jeans 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 Patrik Bernstein A From Suit to Jeans and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• Patrik Bernstein A From Suit to Jeans also places its products in supermarkets and hypermarkets across the country
• A large number of Patrik Bernstein A From Suit to Jeans target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for Patrik Bernstein A From Suit to Jeans

2.3.5. Partner agents

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

2.4.1. Digital marketing

• Patrik Bernstein A From Suit to Jeans has corporate profiles on all social media websites and portals
• Patrik Bernstein A From Suit to Jeans uses its social media presence to directly, engage with consumers
• This direct engagement and interaction allows Patrik Bernstein A From Suit to Jeans to understand the customers, their needs and demands
• Patrik Bernstein A From Suit to Jeans uses this feedback and incorporates it in its broader marketing and organizational strategy
• Patrik Bernstein A From Suit to Jeans 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

• Patrik Bernstein A From Suit to Jeans 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 Patrik Bernstein A From Suit to Jeans and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by Patrik Bernstein A From Suit to Jeans on high valued purchases
• Frequent usage and purchase of products by Patrik Bernstein A From Suit to Jeans also has rewards against the loyalty card

2.4.3. Community Influencers

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

2.5. People

The marketing mix of Patrik Bernstein A From Suit to Jeans also places an essential focus on people development and people building. This is because Patrik Bernstein A From Suit to Jeans realizes the importance of employees in building strong customer relationships. Patrik Bernstein A From Suit to Jeans develops its employee and people by focusing on the following aspects:

2.5.1. Training

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

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

• Patrik Bernstein A From Suit to Jeans employees are the face of the organization
• Patrik Bernstein A From Suit to Jeans are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that Patrik Bernstein A From Suit to Jeans 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

• Patrik Bernstein A From Suit to Jeans remains one of the leading players in the industry also because of its focus on succession planning
• Patrik Bernstein A From Suit to Jeans 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 Patrik Bernstein A From Suit to Jeans
• Strategic succession planning has allowed Patrik Bernstein A From Suit to Jeans to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

Patrik Bernstein A From Suit to Jeans has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at Patrik Bernstein A From Suit to Jeans are clearly defined and communicated to the employees
• Patrik Bernstein A From Suit to Jeans 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 Patrik Bernstein A From Suit to Jeans

2.6.2. People Management

• Patrik Bernstein A From Suit to Jeans has also defined clear processes for people management through streamlining its human resource management department
• Patrik Bernstein A From Suit to Jeans 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 Patrik Bernstein A From Suit to Jeans to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• Patrik Bernstein A From Suit to Jeans 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

• Patrik Bernstein A From Suit to Jeans 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 Patrik Bernstein A From Suit to Jeans 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 Patrik Bernstein A From Suit to Jeans as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for Patrik Bernstein A From Suit to Jeans include:

2.7.1. Store atmosphere

• The store design and management for Patrik Bernstein A From Suit to Jeans 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 Patrik Bernstein A From Suit to Jeans at ease
• The store design is also important for Patrik Bernstein A From Suit to Jeans 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 Patrik Bernstein A From Suit to Jeans 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

• Patrik Bernstein A From Suit to Jeans has unique packaging, which is different from other players in the industry
• Patrik Bernstein A From Suit to Jeans 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 Patrik Bernstein A From Suit to Jeans
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by Patrik Bernstein A From Suit to Jeans

2.7.3. Website design

• The website design is simple and easy to use
• Patrik Bernstein A From Suit to Jeans has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of Patrik Bernstein A From Suit to Jeans 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