Marketing Mix Of Readiness to Internationalize at Maynooth Natural Granite

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 Readiness to Internationalize at Maynooth Natural Granite

Readiness to Internationalize at Maynooth Natural Granite makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix Readiness to Internationalize at Maynooth Natural Granite is presented below:

2.1. Product

Product is one of the most important components of the Readiness to Internationalize at Maynooth Natural Granite Marketing mix. The distinctive characteristics of the product by Readiness to Internationalize at Maynooth Natural Granite are:

2.1.1. Quality

• Readiness to Internationalize at Maynooth Natural Granite maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• Readiness to Internationalize at Maynooth Natural Granite 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 Readiness to Internationalize at Maynooth Natural Granite with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by Readiness to Internationalize at Maynooth Natural Granite 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

• Readiness to Internationalize at Maynooth Natural Granite has a broad portfolio of products
• The broad portfolio helps Readiness to Internationalize at Maynooth Natural Granite in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to Readiness to Internationalize at Maynooth Natural Granite
• The broader product portfolio also adds more value for Readiness to Internationalize at Maynooth Natural Granite

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

Readiness to Internationalize at Maynooth Natural Granite 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 Readiness to Internationalize at Maynooth Natural Granite in all markets
• Company-operated stores give Readiness to Internationalize at Maynooth Natural Granite higher control over operations as well as store layout and design
• Readiness to Internationalize at Maynooth Natural Granite 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 Readiness to Internationalize at Maynooth Natural Granite in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

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

2.3.3. E-commerce

• Readiness to Internationalize at Maynooth Natural Granite has developed a successfully operational website for online order placement and order tracking
• Readiness to Internationalize at Maynooth Natural Granite 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 Readiness to Internationalize at Maynooth Natural Granite and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• Readiness to Internationalize at Maynooth Natural Granite also places its products in supermarkets and hypermarkets across the country
• A large number of Readiness to Internationalize at Maynooth Natural Granite target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for Readiness to Internationalize at Maynooth Natural Granite

2.3.5. Partner agents

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

2.4.1. Digital marketing

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

• Readiness to Internationalize at Maynooth Natural Granite 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 Readiness to Internationalize at Maynooth Natural Granite and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by Readiness to Internationalize at Maynooth Natural Granite on high valued purchases
• Frequent usage and purchase of products by Readiness to Internationalize at Maynooth Natural Granite also has rewards against the loyalty card

2.4.3. Community Influencers

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

2.5. People

The marketing mix of Readiness to Internationalize at Maynooth Natural Granite also places an essential focus on people development and people building. This is because Readiness to Internationalize at Maynooth Natural Granite realizes the importance of employees in building strong customer relationships. Readiness to Internationalize at Maynooth Natural Granite develops its employee and people by focusing on the following aspects:

2.5.1. Training

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

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

• Readiness to Internationalize at Maynooth Natural Granite employees are the face of the organization
• Readiness to Internationalize at Maynooth Natural Granite are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that Readiness to Internationalize at Maynooth Natural Granite 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

• Readiness to Internationalize at Maynooth Natural Granite remains one of the leading players in the industry also because of its focus on succession planning
• Readiness to Internationalize at Maynooth Natural Granite 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 Readiness to Internationalize at Maynooth Natural Granite
• Strategic succession planning has allowed Readiness to Internationalize at Maynooth Natural Granite to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

Readiness to Internationalize at Maynooth Natural Granite has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at Readiness to Internationalize at Maynooth Natural Granite are clearly defined and communicated to the employees
• Readiness to Internationalize at Maynooth Natural Granite 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 Readiness to Internationalize at Maynooth Natural Granite

2.6.2. People Management

• Readiness to Internationalize at Maynooth Natural Granite has also defined clear processes for people management through streamlining its human resource management department
• Readiness to Internationalize at Maynooth Natural Granite 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 Readiness to Internationalize at Maynooth Natural Granite to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• Readiness to Internationalize at Maynooth Natural Granite 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

• Readiness to Internationalize at Maynooth Natural Granite 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 Readiness to Internationalize at Maynooth Natural Granite 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 Readiness to Internationalize at Maynooth Natural Granite as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for Readiness to Internationalize at Maynooth Natural Granite include:

2.7.1. Store atmosphere

• The store design and management for Readiness to Internationalize at Maynooth Natural Granite 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 Readiness to Internationalize at Maynooth Natural Granite at ease
• The store design is also important for Readiness to Internationalize at Maynooth Natural Granite 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 Readiness to Internationalize at Maynooth Natural Granite 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

• Readiness to Internationalize at Maynooth Natural Granite has unique packaging, which is different from other players in the industry
• Readiness to Internationalize at Maynooth Natural Granite 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 Readiness to Internationalize at Maynooth Natural Granite
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by Readiness to Internationalize at Maynooth Natural Granite

2.7.3. Website design

• The website design is simple and easy to use
• Readiness to Internationalize at Maynooth Natural Granite has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of Readiness to Internationalize at Maynooth Natural Granite 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