Marketing Mix Of Save-A-Buck Grocery Increasing Its Sales Through a Raffle

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 Save-A-Buck Grocery Increasing Its Sales Through a Raffle

Save-A-Buck Grocery Increasing Its Sales Through a Raffle makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix Save-A-Buck Grocery Increasing Its Sales Through a Raffle is presented below:

2.1. Product

Product is one of the most important components of the Save-A-Buck Grocery Increasing Its Sales Through a Raffle Marketing mix. The distinctive characteristics of the product by Save-A-Buck Grocery Increasing Its Sales Through a Raffle are:

2.1.1. Quality

• Save-A-Buck Grocery Increasing Its Sales Through a Raffle maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• Save-A-Buck Grocery Increasing Its Sales Through a Raffle 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 Save-A-Buck Grocery Increasing Its Sales Through a Raffle with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by Save-A-Buck Grocery Increasing Its Sales Through a Raffle 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

• Save-A-Buck Grocery Increasing Its Sales Through a Raffle has a broad portfolio of products
• The broad portfolio helps Save-A-Buck Grocery Increasing Its Sales Through a Raffle in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to Save-A-Buck Grocery Increasing Its Sales Through a Raffle
• The broader product portfolio also adds more value for Save-A-Buck Grocery Increasing Its Sales Through a Raffle

2.1.4. Benefits of product consumption

• Save-A-Buck Grocery Increasing Its Sales Through a Raffle 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 Save-A-Buck Grocery Increasing Its Sales Through a Raffle is its delivery of emotional benefits to the consumer
• Products manufactured and sold by Save-A-Buck Grocery Increasing Its Sales Through a Raffle promise consumers an ego boost, confidence, and security
• Save-A-Buck Grocery Increasing Its Sales Through a Raffle 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 Save-A-Buck Grocery Increasing Its Sales Through a Raffle are available in different sizes
• Save-A-Buck Grocery Increasing Its Sales Through a Raffle 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, Save-A-Buck Grocery Increasing Its Sales Through a Raffle has also increased the trial rate
• Different SKUs have also helped Save-A-Buck Grocery Increasing Its Sales Through a Raffle improve its product accessibility

2.2. Price

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

2.2.2. Psychological pricing

• Since Save-A-Buck Grocery Increasing Its Sales Through a Raffle has a number of different product ranges and product groups, the use of psychological pricing has been beneficial
• With the use of psychological pricing, Save-A-Buck Grocery Increasing Its Sales Through a Raffle also successfully adds more value to its products from the point of view of customers
• Save-A-Buck Grocery Increasing Its Sales Through a Raffle also gains higher sales with psychological pricing
• Consumer purchase a higher amount of Save-A-Buck Grocery Increasing Its Sales Through a Raffle products because of its use of psychological pricing
• Save-A-Buck Grocery Increasing Its Sales Through a Raffle is able to increase its target audience and broaden its target purchaser groups

2.2.3. Geographical pricing

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

2.3. Placement

Save-A-Buck Grocery Increasing Its Sales Through a Raffle 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 Save-A-Buck Grocery Increasing Its Sales Through a Raffle in all markets
• Company-operated stores give Save-A-Buck Grocery Increasing Its Sales Through a Raffle higher control over operations as well as store layout and design
• Save-A-Buck Grocery Increasing Its Sales Through a Raffle 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 Save-A-Buck Grocery Increasing Its Sales Through a Raffle in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

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

2.3.3. E-commerce

• Save-A-Buck Grocery Increasing Its Sales Through a Raffle has developed a successfully operational website for online order placement and order tracking
• Save-A-Buck Grocery Increasing Its Sales Through a Raffle 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 Save-A-Buck Grocery Increasing Its Sales Through a Raffle and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• Save-A-Buck Grocery Increasing Its Sales Through a Raffle also places its products in supermarkets and hypermarkets across the country
• A large number of Save-A-Buck Grocery Increasing Its Sales Through a Raffle target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for Save-A-Buck Grocery Increasing Its Sales Through a Raffle

2.3.5. Partner agents

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

2.4.1. Digital marketing

• Save-A-Buck Grocery Increasing Its Sales Through a Raffle has corporate profiles on all social media websites and portals
• Save-A-Buck Grocery Increasing Its Sales Through a Raffle uses its social media presence to directly, engage with consumers
• This direct engagement and interaction allows Save-A-Buck Grocery Increasing Its Sales Through a Raffle to understand the customers, their needs and demands
• Save-A-Buck Grocery Increasing Its Sales Through a Raffle uses this feedback and incorporates it in its broader marketing and organizational strategy
• Save-A-Buck Grocery Increasing Its Sales Through a Raffle 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

• Save-A-Buck Grocery Increasing Its Sales Through a Raffle 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 Save-A-Buck Grocery Increasing Its Sales Through a Raffle and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by Save-A-Buck Grocery Increasing Its Sales Through a Raffle on high valued purchases
• Frequent usage and purchase of products by Save-A-Buck Grocery Increasing Its Sales Through a Raffle also has rewards against the loyalty card

2.4.3. Community Influencers

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

2.5. People

The marketing mix of Save-A-Buck Grocery Increasing Its Sales Through a Raffle also places an essential focus on people development and people building. This is because Save-A-Buck Grocery Increasing Its Sales Through a Raffle realizes the importance of employees in building strong customer relationships. Save-A-Buck Grocery Increasing Its Sales Through a Raffle develops its employee and people by focusing on the following aspects:

2.5.1. Training

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

• Save-A-Buck Grocery Increasing Its Sales Through a Raffle works on strengthening the organizational commitment in its employees
• Save-A-Buck Grocery Increasing Its Sales Through a Raffle builds employee loyalty so that people can reflect their optimal best at work
• Save-A-Buck Grocery Increasing Its Sales Through a Raffle also understands that satisfied employees will lead to happy and satisfied customers
• Save-A-Buck Grocery Increasing Its Sales Through a Raffle regularly shares different reward programs for employees, including stock sharing, so that their organizational commitment and ownership is enhanced
• Save-A-Buck Grocery Increasing Its Sales Through a Raffle 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

• Save-A-Buck Grocery Increasing Its Sales Through a Raffle employees are the face of the organization
• Save-A-Buck Grocery Increasing Its Sales Through a Raffle are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that Save-A-Buck Grocery Increasing Its Sales Through a Raffle 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

• Save-A-Buck Grocery Increasing Its Sales Through a Raffle remains one of the leading players in the industry also because of its focus on succession planning
• Save-A-Buck Grocery Increasing Its Sales Through a Raffle 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 Save-A-Buck Grocery Increasing Its Sales Through a Raffle
• Strategic succession planning has allowed Save-A-Buck Grocery Increasing Its Sales Through a Raffle to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

Save-A-Buck Grocery Increasing Its Sales Through a Raffle has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at Save-A-Buck Grocery Increasing Its Sales Through a Raffle are clearly defined and communicated to the employees
• Save-A-Buck Grocery Increasing Its Sales Through a Raffle 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 Save-A-Buck Grocery Increasing Its Sales Through a Raffle

2.6.2. People Management

• Save-A-Buck Grocery Increasing Its Sales Through a Raffle has also defined clear processes for people management through streamlining its human resource management department
• Save-A-Buck Grocery Increasing Its Sales Through a Raffle 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 Save-A-Buck Grocery Increasing Its Sales Through a Raffle to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• Save-A-Buck Grocery Increasing Its Sales Through a Raffle 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

• Save-A-Buck Grocery Increasing Its Sales Through a Raffle 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 Save-A-Buck Grocery Increasing Its Sales Through a Raffle 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 Save-A-Buck Grocery Increasing Its Sales Through a Raffle as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for Save-A-Buck Grocery Increasing Its Sales Through a Raffle include:

2.7.1. Store atmosphere

• The store design and management for Save-A-Buck Grocery Increasing Its Sales Through a Raffle 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 Save-A-Buck Grocery Increasing Its Sales Through a Raffle at ease
• The store design is also important for Save-A-Buck Grocery Increasing Its Sales Through a Raffle 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 Save-A-Buck Grocery Increasing Its Sales Through a Raffle 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

• Save-A-Buck Grocery Increasing Its Sales Through a Raffle has unique packaging, which is different from other players in the industry
• Save-A-Buck Grocery Increasing Its Sales Through a Raffle 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 Save-A-Buck Grocery Increasing Its Sales Through a Raffle
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by Save-A-Buck Grocery Increasing Its Sales Through a Raffle

2.7.3. Website design

• The website design is simple and easy to use
• Save-A-Buck Grocery Increasing Its Sales Through a Raffle has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of Save-A-Buck Grocery Increasing Its Sales Through a Raffle 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