Marketing Mix Of Stormy Kromer

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 Stormy Kromer

Stormy Kromer makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix Stormy Kromer is presented below:

2.1. Product

Product is one of the most important components of the Stormy Kromer Marketing mix. The distinctive characteristics of the product by Stormy Kromer are:

2.1.1. Quality

• Stormy Kromer maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• Stormy Kromer 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 Stormy Kromer with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by Stormy Kromer 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

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

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

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

2.3.2. Licensed stores

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

2.3.3. E-commerce

• Stormy Kromer has developed a successfully operational website for online order placement and order tracking
• Stormy Kromer 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 Stormy Kromer and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

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

2.3.5. Partner agents

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

2.4.1. Digital marketing

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

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

2.4.3. Community Influencers

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

2.5. People

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

2.5.1. Training

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

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

• Stormy Kromer employees are the face of the organization
• Stormy Kromer are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that Stormy Kromer 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

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

2.6. Process

Stormy Kromer has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at Stormy Kromer are clearly defined and communicated to the employees
• Stormy Kromer 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 Stormy Kromer

2.6.2. People Management

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

2.6.3. Quality maintenance

• Stormy Kromer 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

• Stormy Kromer 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 Stormy Kromer 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 Stormy Kromer as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for Stormy Kromer include:

2.7.1. Store atmosphere

• The store design and management for Stormy Kromer 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 Stormy Kromer at ease
• The store design is also important for Stormy Kromer 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 Stormy Kromer 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

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

2.7.3. Website design

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