Marketing Mix Of TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE

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 TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE

TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE is presented below:

2.1. Product

Product is one of the most important components of the TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE Marketing mix. The distinctive characteristics of the product by TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE are:

2.1.1. Quality

• TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE 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 TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE 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

• TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE has a broad portfolio of products
• The broad portfolio helps TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE
• The broader product portfolio also adds more value for TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE 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 TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE in all markets
• Company-operated stores give TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE higher control over operations as well as store layout and design
• TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE 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 TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

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

2.3.3. E-commerce

• TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE has developed a successfully operational website for online order placement and order tracking
• TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE 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 TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE also places its products in supermarkets and hypermarkets across the country
• A large number of TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE

2.3.5. Partner agents

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

2.4.1. Digital marketing

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

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

2.4.3. Community Influencers

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

2.5. People

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

2.5.1. Training

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

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

• TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE employees are the face of the organization
• TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE 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

• TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE remains one of the leading players in the industry also because of its focus on succession planning
• TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE 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 TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE
• Strategic succession planning has allowed TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE are clearly defined and communicated to the employees
• TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE 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 TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE

2.6.2. People Management

• TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE has also defined clear processes for people management through streamlining its human resource management department
• TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE 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 TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE 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

• TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE 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 TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE 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 TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE include:

2.7.1. Store atmosphere

• The store design and management for TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE 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 TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE at ease
• The store design is also important for TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE 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 TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE 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

• TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE has unique packaging, which is different from other players in the industry
• TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE 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 TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE

2.7.3. Website design

• The website design is simple and easy to use
• TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of TRADITION TASTE EXPLORING CONSUMERS CHANGING ATTITUDE 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