Marketing Mix Of Play On Building the Entrepreneurial Opportunity

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 Play On Building the Entrepreneurial Opportunity

Play On Building the Entrepreneurial Opportunity makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix Play On Building the Entrepreneurial Opportunity is presented below:

2.1. Product

Product is one of the most important components of the Play On Building the Entrepreneurial Opportunity Marketing mix. The distinctive characteristics of the product by Play On Building the Entrepreneurial Opportunity are:

2.1.1. Quality

• Play On Building the Entrepreneurial Opportunity maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• Play On Building the Entrepreneurial Opportunity 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 Play On Building the Entrepreneurial Opportunity with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by Play On Building the Entrepreneurial Opportunity 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

• Play On Building the Entrepreneurial Opportunity has a broad portfolio of products
• The broad portfolio helps Play On Building the Entrepreneurial Opportunity in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to Play On Building the Entrepreneurial Opportunity
• The broader product portfolio also adds more value for Play On Building the Entrepreneurial Opportunity

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

Play On Building the Entrepreneurial Opportunity 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 Play On Building the Entrepreneurial Opportunity in all markets
• Company-operated stores give Play On Building the Entrepreneurial Opportunity higher control over operations as well as store layout and design
• Play On Building the Entrepreneurial Opportunity 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 Play On Building the Entrepreneurial Opportunity in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

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

2.3.3. E-commerce

• Play On Building the Entrepreneurial Opportunity has developed a successfully operational website for online order placement and order tracking
• Play On Building the Entrepreneurial Opportunity 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 Play On Building the Entrepreneurial Opportunity and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• Play On Building the Entrepreneurial Opportunity also places its products in supermarkets and hypermarkets across the country
• A large number of Play On Building the Entrepreneurial Opportunity target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for Play On Building the Entrepreneurial Opportunity

2.3.5. Partner agents

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

2.4.1. Digital marketing

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

• Play On Building the Entrepreneurial Opportunity 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 Play On Building the Entrepreneurial Opportunity and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by Play On Building the Entrepreneurial Opportunity on high valued purchases
• Frequent usage and purchase of products by Play On Building the Entrepreneurial Opportunity also has rewards against the loyalty card

2.4.3. Community Influencers

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

2.5. People

The marketing mix of Play On Building the Entrepreneurial Opportunity also places an essential focus on people development and people building. This is because Play On Building the Entrepreneurial Opportunity realizes the importance of employees in building strong customer relationships. Play On Building the Entrepreneurial Opportunity develops its employee and people by focusing on the following aspects:

2.5.1. Training

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

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

• Play On Building the Entrepreneurial Opportunity employees are the face of the organization
• Play On Building the Entrepreneurial Opportunity are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that Play On Building the Entrepreneurial Opportunity 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

• Play On Building the Entrepreneurial Opportunity remains one of the leading players in the industry also because of its focus on succession planning
• Play On Building the Entrepreneurial Opportunity 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 Play On Building the Entrepreneurial Opportunity
• Strategic succession planning has allowed Play On Building the Entrepreneurial Opportunity to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

Play On Building the Entrepreneurial Opportunity has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at Play On Building the Entrepreneurial Opportunity are clearly defined and communicated to the employees
• Play On Building the Entrepreneurial Opportunity 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 Play On Building the Entrepreneurial Opportunity

2.6.2. People Management

• Play On Building the Entrepreneurial Opportunity has also defined clear processes for people management through streamlining its human resource management department
• Play On Building the Entrepreneurial Opportunity 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 Play On Building the Entrepreneurial Opportunity to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• Play On Building the Entrepreneurial Opportunity 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

• Play On Building the Entrepreneurial Opportunity 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 Play On Building the Entrepreneurial Opportunity 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 Play On Building the Entrepreneurial Opportunity as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for Play On Building the Entrepreneurial Opportunity include:

2.7.1. Store atmosphere

• The store design and management for Play On Building the Entrepreneurial Opportunity 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 Play On Building the Entrepreneurial Opportunity at ease
• The store design is also important for Play On Building the Entrepreneurial Opportunity 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 Play On Building the Entrepreneurial Opportunity 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

• Play On Building the Entrepreneurial Opportunity has unique packaging, which is different from other players in the industry
• Play On Building the Entrepreneurial Opportunity 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 Play On Building the Entrepreneurial Opportunity
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by Play On Building the Entrepreneurial Opportunity

2.7.3. Website design

• The website design is simple and easy to use
• Play On Building the Entrepreneurial Opportunity has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of Play On Building the Entrepreneurial Opportunity 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