Marketing Mix Of Progressive Corporation Variable Dividends

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 Progressive Corporation Variable Dividends

Progressive Corporation Variable Dividends makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix Progressive Corporation Variable Dividends is presented below:

2.1. Product

Product is one of the most important components of the Progressive Corporation Variable Dividends Marketing mix. The distinctive characteristics of the product by Progressive Corporation Variable Dividends are:

2.1.1. Quality

• Progressive Corporation Variable Dividends maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• Progressive Corporation Variable Dividends 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 Progressive Corporation Variable Dividends with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by Progressive Corporation Variable Dividends 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

• Progressive Corporation Variable Dividends has a broad portfolio of products
• The broad portfolio helps Progressive Corporation Variable Dividends in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to Progressive Corporation Variable Dividends
• The broader product portfolio also adds more value for Progressive Corporation Variable Dividends

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

Progressive Corporation Variable Dividends 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 Progressive Corporation Variable Dividends in all markets
• Company-operated stores give Progressive Corporation Variable Dividends higher control over operations as well as store layout and design
• Progressive Corporation Variable Dividends 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 Progressive Corporation Variable Dividends in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

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

2.3.3. E-commerce

• Progressive Corporation Variable Dividends has developed a successfully operational website for online order placement and order tracking
• Progressive Corporation Variable Dividends 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 Progressive Corporation Variable Dividends and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• Progressive Corporation Variable Dividends also places its products in supermarkets and hypermarkets across the country
• A large number of Progressive Corporation Variable Dividends target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for Progressive Corporation Variable Dividends

2.3.5. Partner agents

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

2.4.1. Digital marketing

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

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

2.4.3. Community Influencers

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

2.5. People

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

2.5.1. Training

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

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

• Progressive Corporation Variable Dividends employees are the face of the organization
• Progressive Corporation Variable Dividends are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that Progressive Corporation Variable Dividends 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

• Progressive Corporation Variable Dividends remains one of the leading players in the industry also because of its focus on succession planning
• Progressive Corporation Variable Dividends 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 Progressive Corporation Variable Dividends
• Strategic succession planning has allowed Progressive Corporation Variable Dividends to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

Progressive Corporation Variable Dividends has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at Progressive Corporation Variable Dividends are clearly defined and communicated to the employees
• Progressive Corporation Variable Dividends 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 Progressive Corporation Variable Dividends

2.6.2. People Management

• Progressive Corporation Variable Dividends has also defined clear processes for people management through streamlining its human resource management department
• Progressive Corporation Variable Dividends 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 Progressive Corporation Variable Dividends to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• Progressive Corporation Variable Dividends 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

• Progressive Corporation Variable Dividends 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 Progressive Corporation Variable Dividends 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 Progressive Corporation Variable Dividends as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for Progressive Corporation Variable Dividends include:

2.7.1. Store atmosphere

• The store design and management for Progressive Corporation Variable Dividends 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 Progressive Corporation Variable Dividends at ease
• The store design is also important for Progressive Corporation Variable Dividends 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 Progressive Corporation Variable Dividends 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

• Progressive Corporation Variable Dividends has unique packaging, which is different from other players in the industry
• Progressive Corporation Variable Dividends 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 Progressive Corporation Variable Dividends
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by Progressive Corporation Variable Dividends

2.7.3. Website design

• The website design is simple and easy to use
• Progressive Corporation Variable Dividends has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of Progressive Corporation Variable Dividends 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