Marketing Mix Of Steve Parker and the GFS-China Technologies Venture A B C and D

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 Steve Parker and the GFS-China Technologies Venture A B C and D

Steve Parker and the GFS-China Technologies Venture A B C and D makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix Steve Parker and the GFS-China Technologies Venture A B C and D is presented below:

2.1. Product

Product is one of the most important components of the Steve Parker and the GFS-China Technologies Venture A B C and D Marketing mix. The distinctive characteristics of the product by Steve Parker and the GFS-China Technologies Venture A B C and D are:

2.1.1. Quality

• Steve Parker and the GFS-China Technologies Venture A B C and D maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• Steve Parker and the GFS-China Technologies Venture A B C and D 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 Steve Parker and the GFS-China Technologies Venture A B C and D with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by Steve Parker and the GFS-China Technologies Venture A B C and D 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

• Steve Parker and the GFS-China Technologies Venture A B C and D has a broad portfolio of products
• The broad portfolio helps Steve Parker and the GFS-China Technologies Venture A B C and D in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to Steve Parker and the GFS-China Technologies Venture A B C and D
• The broader product portfolio also adds more value for Steve Parker and the GFS-China Technologies Venture A B C and D

2.1.4. Benefits of product consumption

• Steve Parker and the GFS-China Technologies Venture A B C and D 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 Steve Parker and the GFS-China Technologies Venture A B C and D is its delivery of emotional benefits to the consumer
• Products manufactured and sold by Steve Parker and the GFS-China Technologies Venture A B C and D promise consumers an ego boost, confidence, and security
• Steve Parker and the GFS-China Technologies Venture A B C and D 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 Steve Parker and the GFS-China Technologies Venture A B C and D are available in different sizes
• Steve Parker and the GFS-China Technologies Venture A B C and D 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, Steve Parker and the GFS-China Technologies Venture A B C and D has also increased the trial rate
• Different SKUs have also helped Steve Parker and the GFS-China Technologies Venture A B C and D improve its product accessibility

2.2. Price

Steve Parker and the GFS-China Technologies Venture A B C and D marketing mix focuses on a hybrid strategy for pricing to obtain maximum value for its products. The marketing mix Steve Parker and the GFS-China Technologies Venture A B C and D 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, Steve Parker and the GFS-China Technologies Venture A B C and D encourages favorable brand and product perceptions in target consumer groups
• Premium pricing for products also encourages a favorable quality perception of Steve Parker and the GFS-China Technologies Venture A B C and D products amongst consumers
• With premium prices, Steve Parker and the GFS-China Technologies Venture A B C and D 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 Steve Parker and the GFS-China Technologies Venture A B C and D products
• Using elements of premium prices in other product ranges has also allowed Steve Parker and the GFS-China Technologies Venture A B C and D to maintain significantly high profits and a consistent business growth

2.2.2. Psychological pricing

• Since Steve Parker and the GFS-China Technologies Venture A B C and D has a number of different product ranges and product groups, the use of psychological pricing has been beneficial
• With the use of psychological pricing, Steve Parker and the GFS-China Technologies Venture A B C and D also successfully adds more value to its products from the point of view of customers
• Steve Parker and the GFS-China Technologies Venture A B C and D also gains higher sales with psychological pricing
• Consumer purchase a higher amount of Steve Parker and the GFS-China Technologies Venture A B C and D products because of its use of psychological pricing
• Steve Parker and the GFS-China Technologies Venture A B C and D is able to increase its target audience and broaden its target purchaser groups

2.2.3. Geographical pricing

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

2.3. Placement

Steve Parker and the GFS-China Technologies Venture A B C and D 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 Steve Parker and the GFS-China Technologies Venture A B C and D in all markets
• Company-operated stores give Steve Parker and the GFS-China Technologies Venture A B C and D higher control over operations as well as store layout and design
• Steve Parker and the GFS-China Technologies Venture A B C and D 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 Steve Parker and the GFS-China Technologies Venture A B C and D in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

• Steve Parker and the GFS-China Technologies Venture A B C and D 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 Steve Parker and the GFS-China Technologies Venture A B C and D in unstable markets
• Licensed stores have also given Steve Parker and the GFS-China Technologies Venture A B C and D high business growth, and a boost for rapid market expansion and penetration
• Through licensed stores, Steve Parker and the GFS-China Technologies Venture A B C and D has also learned about local consumers and cultures
• Licensed stores and shops encourage sales of products by Steve Parker and the GFS-China Technologies Venture A B C and D by aligning it with local cultural values
• Licensed stores also help Steve Parker and the GFS-China Technologies Venture A B C and D in localizing its product offerings to enhance brand equity and band image

2.3.3. E-commerce

• Steve Parker and the GFS-China Technologies Venture A B C and D has developed a successfully operational website for online order placement and order tracking
• Steve Parker and the GFS-China Technologies Venture A B C and D 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 Steve Parker and the GFS-China Technologies Venture A B C and D and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• Steve Parker and the GFS-China Technologies Venture A B C and D also places its products in supermarkets and hypermarkets across the country
• A large number of Steve Parker and the GFS-China Technologies Venture A B C and D target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for Steve Parker and the GFS-China Technologies Venture A B C and D

2.3.5. Partner agents

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

2.4.1. Digital marketing

• Steve Parker and the GFS-China Technologies Venture A B C and D has corporate profiles on all social media websites and portals
• Steve Parker and the GFS-China Technologies Venture A B C and D uses its social media presence to directly, engage with consumers
• This direct engagement and interaction allows Steve Parker and the GFS-China Technologies Venture A B C and D to understand the customers, their needs and demands
• Steve Parker and the GFS-China Technologies Venture A B C and D uses this feedback and incorporates it in its broader marketing and organizational strategy
• Steve Parker and the GFS-China Technologies Venture A B C and D 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

• Steve Parker and the GFS-China Technologies Venture A B C and D 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 Steve Parker and the GFS-China Technologies Venture A B C and D and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by Steve Parker and the GFS-China Technologies Venture A B C and D on high valued purchases
• Frequent usage and purchase of products by Steve Parker and the GFS-China Technologies Venture A B C and D also has rewards against the loyalty card

2.4.3. Community Influencers

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

2.5. People

The marketing mix of Steve Parker and the GFS-China Technologies Venture A B C and D also places an essential focus on people development and people building. This is because Steve Parker and the GFS-China Technologies Venture A B C and D realizes the importance of employees in building strong customer relationships. Steve Parker and the GFS-China Technologies Venture A B C and D develops its employee and people by focusing on the following aspects:

2.5.1. Training

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

• Steve Parker and the GFS-China Technologies Venture A B C and D works on strengthening the organizational commitment in its employees
• Steve Parker and the GFS-China Technologies Venture A B C and D builds employee loyalty so that people can reflect their optimal best at work
• Steve Parker and the GFS-China Technologies Venture A B C and D also understands that satisfied employees will lead to happy and satisfied customers
• Steve Parker and the GFS-China Technologies Venture A B C and D regularly shares different reward programs for employees, including stock sharing, so that their organizational commitment and ownership is enhanced
• Steve Parker and the GFS-China Technologies Venture A B C and D 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

• Steve Parker and the GFS-China Technologies Venture A B C and D employees are the face of the organization
• Steve Parker and the GFS-China Technologies Venture A B C and D are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that Steve Parker and the GFS-China Technologies Venture A B C and D 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

• Steve Parker and the GFS-China Technologies Venture A B C and D remains one of the leading players in the industry also because of its focus on succession planning
• Steve Parker and the GFS-China Technologies Venture A B C and D 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 Steve Parker and the GFS-China Technologies Venture A B C and D
• Strategic succession planning has allowed Steve Parker and the GFS-China Technologies Venture A B C and D to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

Steve Parker and the GFS-China Technologies Venture A B C and D has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at Steve Parker and the GFS-China Technologies Venture A B C and D are clearly defined and communicated to the employees
• Steve Parker and the GFS-China Technologies Venture A B C and D 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 Steve Parker and the GFS-China Technologies Venture A B C and D

2.6.2. People Management

• Steve Parker and the GFS-China Technologies Venture A B C and D has also defined clear processes for people management through streamlining its human resource management department
• Steve Parker and the GFS-China Technologies Venture A B C and D 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 Steve Parker and the GFS-China Technologies Venture A B C and D to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• Steve Parker and the GFS-China Technologies Venture A B C and D 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

• Steve Parker and the GFS-China Technologies Venture A B C and D 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 Steve Parker and the GFS-China Technologies Venture A B C and D 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 Steve Parker and the GFS-China Technologies Venture A B C and D as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for Steve Parker and the GFS-China Technologies Venture A B C and D include:

2.7.1. Store atmosphere

• The store design and management for Steve Parker and the GFS-China Technologies Venture A B C and D 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 Steve Parker and the GFS-China Technologies Venture A B C and D at ease
• The store design is also important for Steve Parker and the GFS-China Technologies Venture A B C and D 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 Steve Parker and the GFS-China Technologies Venture A B C and D 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

• Steve Parker and the GFS-China Technologies Venture A B C and D has unique packaging, which is different from other players in the industry
• Steve Parker and the GFS-China Technologies Venture A B C and D 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 Steve Parker and the GFS-China Technologies Venture A B C and D
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by Steve Parker and the GFS-China Technologies Venture A B C and D

2.7.3. Website design

• The website design is simple and easy to use
• Steve Parker and the GFS-China Technologies Venture A B C and D has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of Steve Parker and the GFS-China Technologies Venture A B C and D 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