Marketing Mix Of Return Logic Inc A

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 Return Logic Inc A

Return Logic Inc A makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix Return Logic Inc A is presented below:

2.1. Product

Product is one of the most important components of the Return Logic Inc A Marketing mix. The distinctive characteristics of the product by Return Logic Inc A are:

2.1.1. Quality

• Return Logic Inc A maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• Return Logic Inc A 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 Return Logic Inc A with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by Return Logic Inc A 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

• Return Logic Inc A has a broad portfolio of products
• The broad portfolio helps Return Logic Inc A in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to Return Logic Inc A
• The broader product portfolio also adds more value for Return Logic Inc A

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

Return Logic Inc A 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 Return Logic Inc A in all markets
• Company-operated stores give Return Logic Inc A higher control over operations as well as store layout and design
• Return Logic Inc A 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 Return Logic Inc A in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

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

2.3.3. E-commerce

• Return Logic Inc A has developed a successfully operational website for online order placement and order tracking
• Return Logic Inc A 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 Return Logic Inc A and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• Return Logic Inc A also places its products in supermarkets and hypermarkets across the country
• A large number of Return Logic Inc A target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for Return Logic Inc A

2.3.5. Partner agents

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

2.4.1. Digital marketing

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

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

2.4.3. Community Influencers

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

2.5. People

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

2.5.1. Training

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

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

• Return Logic Inc A employees are the face of the organization
• Return Logic Inc A are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that Return Logic Inc A 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

• Return Logic Inc A remains one of the leading players in the industry also because of its focus on succession planning
• Return Logic Inc A 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 Return Logic Inc A
• Strategic succession planning has allowed Return Logic Inc A to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

Return Logic Inc A has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at Return Logic Inc A are clearly defined and communicated to the employees
• Return Logic Inc A 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 Return Logic Inc A

2.6.2. People Management

• Return Logic Inc A has also defined clear processes for people management through streamlining its human resource management department
• Return Logic Inc A 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 Return Logic Inc A to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• Return Logic Inc A 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

• Return Logic Inc A 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 Return Logic Inc A 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 Return Logic Inc A as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for Return Logic Inc A include:

2.7.1. Store atmosphere

• The store design and management for Return Logic Inc A 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 Return Logic Inc A at ease
• The store design is also important for Return Logic Inc A 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 Return Logic Inc A 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

• Return Logic Inc A has unique packaging, which is different from other players in the industry
• Return Logic Inc A 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 Return Logic Inc A
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by Return Logic Inc A

2.7.3. Website design

• The website design is simple and easy to use
• Return Logic Inc A has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of Return Logic Inc A 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