Marketing Mix Of Repsol and YPF B Considering Options

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 Repsol and YPF B Considering Options

Repsol and YPF B Considering Options makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix Repsol and YPF B Considering Options is presented below:

2.1. Product

Product is one of the most important components of the Repsol and YPF B Considering Options Marketing mix. The distinctive characteristics of the product by Repsol and YPF B Considering Options are:

2.1.1. Quality

• Repsol and YPF B Considering Options maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• Repsol and YPF B Considering Options 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 Repsol and YPF B Considering Options with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by Repsol and YPF B Considering Options 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

• Repsol and YPF B Considering Options has a broad portfolio of products
• The broad portfolio helps Repsol and YPF B Considering Options in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to Repsol and YPF B Considering Options
• The broader product portfolio also adds more value for Repsol and YPF B Considering Options

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

Repsol and YPF B Considering Options 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 Repsol and YPF B Considering Options in all markets
• Company-operated stores give Repsol and YPF B Considering Options higher control over operations as well as store layout and design
• Repsol and YPF B Considering Options 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 Repsol and YPF B Considering Options in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

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

2.3.3. E-commerce

• Repsol and YPF B Considering Options has developed a successfully operational website for online order placement and order tracking
• Repsol and YPF B Considering Options 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 Repsol and YPF B Considering Options and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• Repsol and YPF B Considering Options also places its products in supermarkets and hypermarkets across the country
• A large number of Repsol and YPF B Considering Options target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for Repsol and YPF B Considering Options

2.3.5. Partner agents

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

2.4.1. Digital marketing

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

• Repsol and YPF B Considering Options 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 Repsol and YPF B Considering Options and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by Repsol and YPF B Considering Options on high valued purchases
• Frequent usage and purchase of products by Repsol and YPF B Considering Options also has rewards against the loyalty card

2.4.3. Community Influencers

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

2.5. People

The marketing mix of Repsol and YPF B Considering Options also places an essential focus on people development and people building. This is because Repsol and YPF B Considering Options realizes the importance of employees in building strong customer relationships. Repsol and YPF B Considering Options develops its employee and people by focusing on the following aspects:

2.5.1. Training

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

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

• Repsol and YPF B Considering Options employees are the face of the organization
• Repsol and YPF B Considering Options are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that Repsol and YPF B Considering Options 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

• Repsol and YPF B Considering Options remains one of the leading players in the industry also because of its focus on succession planning
• Repsol and YPF B Considering Options 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 Repsol and YPF B Considering Options
• Strategic succession planning has allowed Repsol and YPF B Considering Options to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

Repsol and YPF B Considering Options has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at Repsol and YPF B Considering Options are clearly defined and communicated to the employees
• Repsol and YPF B Considering Options 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 Repsol and YPF B Considering Options

2.6.2. People Management

• Repsol and YPF B Considering Options has also defined clear processes for people management through streamlining its human resource management department
• Repsol and YPF B Considering Options 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 Repsol and YPF B Considering Options to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• Repsol and YPF B Considering Options 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

• Repsol and YPF B Considering Options 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 Repsol and YPF B Considering Options 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 Repsol and YPF B Considering Options as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for Repsol and YPF B Considering Options include:

2.7.1. Store atmosphere

• The store design and management for Repsol and YPF B Considering Options 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 Repsol and YPF B Considering Options at ease
• The store design is also important for Repsol and YPF B Considering Options 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 Repsol and YPF B Considering Options 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

• Repsol and YPF B Considering Options has unique packaging, which is different from other players in the industry
• Repsol and YPF B Considering Options 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 Repsol and YPF B Considering Options
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by Repsol and YPF B Considering Options

2.7.3. Website design

• The website design is simple and easy to use
• Repsol and YPF B Considering Options has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of Repsol and YPF B Considering Options 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