Marketing Mix Of Transforming Singapore s Public Libraries

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 Transforming Singapore s Public Libraries

Transforming Singapore s Public Libraries makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix Transforming Singapore s Public Libraries is presented below:

2.1. Product

Product is one of the most important components of the Transforming Singapore s Public Libraries Marketing mix. The distinctive characteristics of the product by Transforming Singapore s Public Libraries are:

2.1.1. Quality

• Transforming Singapore s Public Libraries maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• Transforming Singapore s Public Libraries 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 Transforming Singapore s Public Libraries with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by Transforming Singapore s Public Libraries 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

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

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

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

2.3.2. Licensed stores

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

2.3.3. E-commerce

• Transforming Singapore s Public Libraries has developed a successfully operational website for online order placement and order tracking
• Transforming Singapore s Public Libraries 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 Transforming Singapore s Public Libraries and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• Transforming Singapore s Public Libraries also places its products in supermarkets and hypermarkets across the country
• A large number of Transforming Singapore s Public Libraries target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for Transforming Singapore s Public Libraries

2.3.5. Partner agents

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

2.4.1. Digital marketing

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

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

2.4.3. Community Influencers

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

2.5. People

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

2.5.1. Training

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

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

• Transforming Singapore s Public Libraries employees are the face of the organization
• Transforming Singapore s Public Libraries are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that Transforming Singapore s Public Libraries 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

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

2.6. Process

Transforming Singapore s Public Libraries has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at Transforming Singapore s Public Libraries are clearly defined and communicated to the employees
• Transforming Singapore s Public Libraries 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 Transforming Singapore s Public Libraries

2.6.2. People Management

• Transforming Singapore s Public Libraries has also defined clear processes for people management through streamlining its human resource management department
• Transforming Singapore s Public Libraries 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 Transforming Singapore s Public Libraries to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• Transforming Singapore s Public Libraries 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

• Transforming Singapore s Public Libraries 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 Transforming Singapore s Public Libraries 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 Transforming Singapore s Public Libraries as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for Transforming Singapore s Public Libraries include:

2.7.1. Store atmosphere

• The store design and management for Transforming Singapore s Public Libraries 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 Transforming Singapore s Public Libraries at ease
• The store design is also important for Transforming Singapore s Public Libraries 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 Transforming Singapore s Public Libraries 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

• Transforming Singapore s Public Libraries has unique packaging, which is different from other players in the industry
• Transforming Singapore s Public Libraries 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 Transforming Singapore s Public Libraries
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by Transforming Singapore s Public Libraries

2.7.3. Website design

• The website design is simple and easy to use
• Transforming Singapore s Public Libraries has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of Transforming Singapore s Public Libraries 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