Marketing Mix Of TRAPPED IN THE DATA-SHARING DILEMMA

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 TRAPPED IN THE DATA-SHARING DILEMMA

TRAPPED IN THE DATA-SHARING DILEMMA makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix TRAPPED IN THE DATA-SHARING DILEMMA is presented below:

2.1. Product

Product is one of the most important components of the TRAPPED IN THE DATA-SHARING DILEMMA Marketing mix. The distinctive characteristics of the product by TRAPPED IN THE DATA-SHARING DILEMMA are:

2.1.1. Quality

• TRAPPED IN THE DATA-SHARING DILEMMA maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• TRAPPED IN THE DATA-SHARING DILEMMA 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 TRAPPED IN THE DATA-SHARING DILEMMA with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by TRAPPED IN THE DATA-SHARING DILEMMA 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

• TRAPPED IN THE DATA-SHARING DILEMMA has a broad portfolio of products
• The broad portfolio helps TRAPPED IN THE DATA-SHARING DILEMMA in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to TRAPPED IN THE DATA-SHARING DILEMMA
• The broader product portfolio also adds more value for TRAPPED IN THE DATA-SHARING DILEMMA

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

TRAPPED IN THE DATA-SHARING DILEMMA 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 TRAPPED IN THE DATA-SHARING DILEMMA in all markets
• Company-operated stores give TRAPPED IN THE DATA-SHARING DILEMMA higher control over operations as well as store layout and design
• TRAPPED IN THE DATA-SHARING DILEMMA 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 TRAPPED IN THE DATA-SHARING DILEMMA in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

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

2.3.3. E-commerce

• TRAPPED IN THE DATA-SHARING DILEMMA has developed a successfully operational website for online order placement and order tracking
• TRAPPED IN THE DATA-SHARING DILEMMA 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 TRAPPED IN THE DATA-SHARING DILEMMA and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• TRAPPED IN THE DATA-SHARING DILEMMA also places its products in supermarkets and hypermarkets across the country
• A large number of TRAPPED IN THE DATA-SHARING DILEMMA target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for TRAPPED IN THE DATA-SHARING DILEMMA

2.3.5. Partner agents

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

2.4.1. Digital marketing

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

• TRAPPED IN THE DATA-SHARING DILEMMA 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 TRAPPED IN THE DATA-SHARING DILEMMA and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by TRAPPED IN THE DATA-SHARING DILEMMA on high valued purchases
• Frequent usage and purchase of products by TRAPPED IN THE DATA-SHARING DILEMMA also has rewards against the loyalty card

2.4.3. Community Influencers

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

2.5. People

The marketing mix of TRAPPED IN THE DATA-SHARING DILEMMA also places an essential focus on people development and people building. This is because TRAPPED IN THE DATA-SHARING DILEMMA realizes the importance of employees in building strong customer relationships. TRAPPED IN THE DATA-SHARING DILEMMA develops its employee and people by focusing on the following aspects:

2.5.1. Training

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

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

• TRAPPED IN THE DATA-SHARING DILEMMA employees are the face of the organization
• TRAPPED IN THE DATA-SHARING DILEMMA are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that TRAPPED IN THE DATA-SHARING DILEMMA 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

• TRAPPED IN THE DATA-SHARING DILEMMA remains one of the leading players in the industry also because of its focus on succession planning
• TRAPPED IN THE DATA-SHARING DILEMMA 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 TRAPPED IN THE DATA-SHARING DILEMMA
• Strategic succession planning has allowed TRAPPED IN THE DATA-SHARING DILEMMA to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

TRAPPED IN THE DATA-SHARING DILEMMA has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at TRAPPED IN THE DATA-SHARING DILEMMA are clearly defined and communicated to the employees
• TRAPPED IN THE DATA-SHARING DILEMMA 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 TRAPPED IN THE DATA-SHARING DILEMMA

2.6.2. People Management

• TRAPPED IN THE DATA-SHARING DILEMMA has also defined clear processes for people management through streamlining its human resource management department
• TRAPPED IN THE DATA-SHARING DILEMMA 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 TRAPPED IN THE DATA-SHARING DILEMMA to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• TRAPPED IN THE DATA-SHARING DILEMMA 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

• TRAPPED IN THE DATA-SHARING DILEMMA 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 TRAPPED IN THE DATA-SHARING DILEMMA 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 TRAPPED IN THE DATA-SHARING DILEMMA as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for TRAPPED IN THE DATA-SHARING DILEMMA include:

2.7.1. Store atmosphere

• The store design and management for TRAPPED IN THE DATA-SHARING DILEMMA 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 TRAPPED IN THE DATA-SHARING DILEMMA at ease
• The store design is also important for TRAPPED IN THE DATA-SHARING DILEMMA 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 TRAPPED IN THE DATA-SHARING DILEMMA 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

• TRAPPED IN THE DATA-SHARING DILEMMA has unique packaging, which is different from other players in the industry
• TRAPPED IN THE DATA-SHARING DILEMMA 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 TRAPPED IN THE DATA-SHARING DILEMMA
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by TRAPPED IN THE DATA-SHARING DILEMMA

2.7.3. Website design

• The website design is simple and easy to use
• TRAPPED IN THE DATA-SHARING DILEMMA has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of TRAPPED IN THE DATA-SHARING DILEMMA 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