Marketing Mix Of That Little Voice Inside A

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 That Little Voice Inside A

That Little Voice Inside A makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix That Little Voice Inside A is presented below:

2.1. Product

Product is one of the most important components of the That Little Voice Inside A Marketing mix. The distinctive characteristics of the product by That Little Voice Inside A are:

2.1.1. Quality

• That Little Voice Inside A maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• That Little Voice Inside A 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 That Little Voice Inside A with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by That Little Voice Inside A 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

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

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

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

2.3.2. Licensed stores

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

2.3.3. E-commerce

• That Little Voice Inside A has developed a successfully operational website for online order placement and order tracking
• That Little Voice Inside A 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 That Little Voice Inside A and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

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

2.3.5. Partner agents

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

2.4.1. Digital marketing

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

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

2.4.3. Community Influencers

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

2.5. People

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

2.5.1. Training

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

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

• That Little Voice Inside A employees are the face of the organization
• That Little Voice Inside A are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that That Little Voice Inside A 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

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

2.6. Process

That Little Voice Inside A has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at That Little Voice Inside A are clearly defined and communicated to the employees
• That Little Voice Inside A 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 That Little Voice Inside A

2.6.2. People Management

• That Little Voice Inside A has also defined clear processes for people management through streamlining its human resource management department
• That Little Voice Inside A 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 That Little Voice Inside A to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• That Little Voice Inside A 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

• That Little Voice Inside A 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 That Little Voice Inside A 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 That Little Voice Inside A as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for That Little Voice Inside A include:

2.7.1. Store atmosphere

• The store design and management for That Little Voice Inside A 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 That Little Voice Inside A at ease
• The store design is also important for That Little Voice Inside A 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 That Little Voice Inside A 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

• That Little Voice Inside A has unique packaging, which is different from other players in the industry
• That Little Voice Inside A 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 That Little Voice Inside A
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by That Little Voice Inside A

2.7.3. Website design

• The website design is simple and easy to use
• That Little Voice Inside A has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of That Little Voice Inside A 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