Marketing Mix Of Quik Six Convenience Stores The Anatomy of an Expense Reduction Project

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 Quik Six Convenience Stores The Anatomy of an Expense Reduction Project

Quik Six Convenience Stores The Anatomy of an Expense Reduction Project makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix Quik Six Convenience Stores The Anatomy of an Expense Reduction Project is presented below:

2.1. Product

Product is one of the most important components of the Quik Six Convenience Stores The Anatomy of an Expense Reduction Project Marketing mix. The distinctive characteristics of the product by Quik Six Convenience Stores The Anatomy of an Expense Reduction Project are:

2.1.1. Quality

• Quik Six Convenience Stores The Anatomy of an Expense Reduction Project maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• Quik Six Convenience Stores The Anatomy of an Expense Reduction Project 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 Quik Six Convenience Stores The Anatomy of an Expense Reduction Project with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by Quik Six Convenience Stores The Anatomy of an Expense Reduction Project 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

• Quik Six Convenience Stores The Anatomy of an Expense Reduction Project has a broad portfolio of products
• The broad portfolio helps Quik Six Convenience Stores The Anatomy of an Expense Reduction Project in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to Quik Six Convenience Stores The Anatomy of an Expense Reduction Project
• The broader product portfolio also adds more value for Quik Six Convenience Stores The Anatomy of an Expense Reduction Project

2.1.4. Benefits of product consumption

• Quik Six Convenience Stores The Anatomy of an Expense Reduction Project 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 Quik Six Convenience Stores The Anatomy of an Expense Reduction Project is its delivery of emotional benefits to the consumer
• Products manufactured and sold by Quik Six Convenience Stores The Anatomy of an Expense Reduction Project promise consumers an ego boost, confidence, and security
• Quik Six Convenience Stores The Anatomy of an Expense Reduction Project 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 Quik Six Convenience Stores The Anatomy of an Expense Reduction Project are available in different sizes
• Quik Six Convenience Stores The Anatomy of an Expense Reduction Project 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, Quik Six Convenience Stores The Anatomy of an Expense Reduction Project has also increased the trial rate
• Different SKUs have also helped Quik Six Convenience Stores The Anatomy of an Expense Reduction Project improve its product accessibility

2.2. Price

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

2.2.2. Psychological pricing

• Since Quik Six Convenience Stores The Anatomy of an Expense Reduction Project has a number of different product ranges and product groups, the use of psychological pricing has been beneficial
• With the use of psychological pricing, Quik Six Convenience Stores The Anatomy of an Expense Reduction Project also successfully adds more value to its products from the point of view of customers
• Quik Six Convenience Stores The Anatomy of an Expense Reduction Project also gains higher sales with psychological pricing
• Consumer purchase a higher amount of Quik Six Convenience Stores The Anatomy of an Expense Reduction Project products because of its use of psychological pricing
• Quik Six Convenience Stores The Anatomy of an Expense Reduction Project is able to increase its target audience and broaden its target purchaser groups

2.2.3. Geographical pricing

• Quik Six Convenience Stores The Anatomy of an Expense Reduction Project is able to penetrate different regional markets optimally with the use of geographical pricing
• For offshore locations, geographical pricing also allows Quik Six Convenience Stores The Anatomy of an Expense Reduction Project to cover shipping and customs expenses
• Geographical pricing also allows Quik Six Convenience Stores The Anatomy of an Expense Reduction Project 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, Quik Six Convenience Stores The Anatomy of an Expense Reduction Project is also known to use bundle pricing strategy popularly
• Quik Six Convenience Stores The Anatomy of an Expense Reduction Project also uses bundle pricing during sales
• Bundle pricing increases the trial rate for consumers
• Quik Six Convenience Stores The Anatomy of an Expense Reduction Project experiences higher return on the cost of gaining a new customer
• With bundle pricing, Quik Six Convenience Stores The Anatomy of an Expense Reduction Project 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 Quik Six Convenience Stores The Anatomy of an Expense Reduction Project.

2.3. Placement

Quik Six Convenience Stores The Anatomy of an Expense Reduction Project 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 Quik Six Convenience Stores The Anatomy of an Expense Reduction Project in all markets
• Company-operated stores give Quik Six Convenience Stores The Anatomy of an Expense Reduction Project higher control over operations as well as store layout and design
• Quik Six Convenience Stores The Anatomy of an Expense Reduction Project 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 Quik Six Convenience Stores The Anatomy of an Expense Reduction Project in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

• Quik Six Convenience Stores The Anatomy of an Expense Reduction Project 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 Quik Six Convenience Stores The Anatomy of an Expense Reduction Project in unstable markets
• Licensed stores have also given Quik Six Convenience Stores The Anatomy of an Expense Reduction Project high business growth, and a boost for rapid market expansion and penetration
• Through licensed stores, Quik Six Convenience Stores The Anatomy of an Expense Reduction Project has also learned about local consumers and cultures
• Licensed stores and shops encourage sales of products by Quik Six Convenience Stores The Anatomy of an Expense Reduction Project by aligning it with local cultural values
• Licensed stores also help Quik Six Convenience Stores The Anatomy of an Expense Reduction Project in localizing its product offerings to enhance brand equity and band image

2.3.3. E-commerce

• Quik Six Convenience Stores The Anatomy of an Expense Reduction Project has developed a successfully operational website for online order placement and order tracking
• Quik Six Convenience Stores The Anatomy of an Expense Reduction Project 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 Quik Six Convenience Stores The Anatomy of an Expense Reduction Project and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• Quik Six Convenience Stores The Anatomy of an Expense Reduction Project also places its products in supermarkets and hypermarkets across the country
• A large number of Quik Six Convenience Stores The Anatomy of an Expense Reduction Project target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for Quik Six Convenience Stores The Anatomy of an Expense Reduction Project

2.3.5. Partner agents

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

2.4.1. Digital marketing

• Quik Six Convenience Stores The Anatomy of an Expense Reduction Project has corporate profiles on all social media websites and portals
• Quik Six Convenience Stores The Anatomy of an Expense Reduction Project uses its social media presence to directly, engage with consumers
• This direct engagement and interaction allows Quik Six Convenience Stores The Anatomy of an Expense Reduction Project to understand the customers, their needs and demands
• Quik Six Convenience Stores The Anatomy of an Expense Reduction Project uses this feedback and incorporates it in its broader marketing and organizational strategy
• Quik Six Convenience Stores The Anatomy of an Expense Reduction Project 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

• Quik Six Convenience Stores The Anatomy of an Expense Reduction Project 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 Quik Six Convenience Stores The Anatomy of an Expense Reduction Project and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by Quik Six Convenience Stores The Anatomy of an Expense Reduction Project on high valued purchases
• Frequent usage and purchase of products by Quik Six Convenience Stores The Anatomy of an Expense Reduction Project also has rewards against the loyalty card

2.4.3. Community Influencers

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

2.5. People

The marketing mix of Quik Six Convenience Stores The Anatomy of an Expense Reduction Project also places an essential focus on people development and people building. This is because Quik Six Convenience Stores The Anatomy of an Expense Reduction Project realizes the importance of employees in building strong customer relationships. Quik Six Convenience Stores The Anatomy of an Expense Reduction Project develops its employee and people by focusing on the following aspects:

2.5.1. Training

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

• Quik Six Convenience Stores The Anatomy of an Expense Reduction Project works on strengthening the organizational commitment in its employees
• Quik Six Convenience Stores The Anatomy of an Expense Reduction Project builds employee loyalty so that people can reflect their optimal best at work
• Quik Six Convenience Stores The Anatomy of an Expense Reduction Project also understands that satisfied employees will lead to happy and satisfied customers
• Quik Six Convenience Stores The Anatomy of an Expense Reduction Project regularly shares different reward programs for employees, including stock sharing, so that their organizational commitment and ownership is enhanced
• Quik Six Convenience Stores The Anatomy of an Expense Reduction Project 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

• Quik Six Convenience Stores The Anatomy of an Expense Reduction Project employees are the face of the organization
• Quik Six Convenience Stores The Anatomy of an Expense Reduction Project are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that Quik Six Convenience Stores The Anatomy of an Expense Reduction Project 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

• Quik Six Convenience Stores The Anatomy of an Expense Reduction Project remains one of the leading players in the industry also because of its focus on succession planning
• Quik Six Convenience Stores The Anatomy of an Expense Reduction Project 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 Quik Six Convenience Stores The Anatomy of an Expense Reduction Project
• Strategic succession planning has allowed Quik Six Convenience Stores The Anatomy of an Expense Reduction Project to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

Quik Six Convenience Stores The Anatomy of an Expense Reduction Project has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at Quik Six Convenience Stores The Anatomy of an Expense Reduction Project are clearly defined and communicated to the employees
• Quik Six Convenience Stores The Anatomy of an Expense Reduction Project 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 Quik Six Convenience Stores The Anatomy of an Expense Reduction Project

2.6.2. People Management

• Quik Six Convenience Stores The Anatomy of an Expense Reduction Project has also defined clear processes for people management through streamlining its human resource management department
• Quik Six Convenience Stores The Anatomy of an Expense Reduction Project 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 Quik Six Convenience Stores The Anatomy of an Expense Reduction Project to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• Quik Six Convenience Stores The Anatomy of an Expense Reduction Project 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

• Quik Six Convenience Stores The Anatomy of an Expense Reduction Project 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 Quik Six Convenience Stores The Anatomy of an Expense Reduction Project 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 Quik Six Convenience Stores The Anatomy of an Expense Reduction Project as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for Quik Six Convenience Stores The Anatomy of an Expense Reduction Project include:

2.7.1. Store atmosphere

• The store design and management for Quik Six Convenience Stores The Anatomy of an Expense Reduction Project 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 Quik Six Convenience Stores The Anatomy of an Expense Reduction Project at ease
• The store design is also important for Quik Six Convenience Stores The Anatomy of an Expense Reduction Project 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 Quik Six Convenience Stores The Anatomy of an Expense Reduction Project 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

• Quik Six Convenience Stores The Anatomy of an Expense Reduction Project has unique packaging, which is different from other players in the industry
• Quik Six Convenience Stores The Anatomy of an Expense Reduction Project 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 Quik Six Convenience Stores The Anatomy of an Expense Reduction Project
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by Quik Six Convenience Stores The Anatomy of an Expense Reduction Project

2.7.3. Website design

• The website design is simple and easy to use
• Quik Six Convenience Stores The Anatomy of an Expense Reduction Project has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of Quik Six Convenience Stores The Anatomy of an Expense Reduction Project 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