Marketing Mix Of U K and the Gold Standard in 1925 Portuguese Version

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 U K and the Gold Standard in 1925 Portuguese Version

U K and the Gold Standard in 1925 Portuguese Version makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix U K and the Gold Standard in 1925 Portuguese Version is presented below:

2.1. Product

Product is one of the most important components of the U K and the Gold Standard in 1925 Portuguese Version Marketing mix. The distinctive characteristics of the product by U K and the Gold Standard in 1925 Portuguese Version are:

2.1.1. Quality

U K and the Gold Standard in 1925 Portuguese Version maintains the high quality of products
High product quality is maintained by adding value during different stages of the value chain
U K and the Gold Standard in 1925 Portuguese Version 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 U K and the Gold Standard in 1925 Portuguese Version with a distinctive competitive advantage

2.1.2. Ease of use

The products manufactured and sold by U K and the Gold Standard in 1925 Portuguese Version 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

U K and the Gold Standard in 1925 Portuguese Version has a broad portfolio of products
The broad portfolio helps U K and the Gold Standard in 1925 Portuguese Version in reaching different target groups in the market
Also, the broad portfolio allows financial strength to U K and the Gold Standard in 1925 Portuguese Version
The broader product portfolio also adds more value for U K and the Gold Standard in 1925 Portuguese Version

2.1.4. Benefits of product consumption

U K and the Gold Standard in 1925 Portuguese Version 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 U K and the Gold Standard in 1925 Portuguese Version is its delivery of emotional benefits to the consumer
Products manufactured and sold by U K and the Gold Standard in 1925 Portuguese Version promise consumers an ego boost, confidence, and security
U K and the Gold Standard in 1925 Portuguese Version 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 U K and the Gold Standard in 1925 Portuguese Version are available in different sizes
U K and the Gold Standard in 1925 Portuguese Version 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, U K and the Gold Standard in 1925 Portuguese Version has also increased the trial rate
Different SKUs have also helped U K and the Gold Standard in 1925 Portuguese Version improve its product accessibility

2.2. Price

U K and the Gold Standard in 1925 Portuguese Version marketing mix focuses on a hybrid strategy for pricing to obtain maximum value for its products. The marketing mix U K and the Gold Standard in 1925 Portuguese Version 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, U K and the Gold Standard in 1925 Portuguese Version encourages favorable brand and product perceptions in target consumer groups
Premium pricing for products also encourages a favorable quality perception of U K and the Gold Standard in 1925 Portuguese Version products amongst consumers
With premium prices, U K and the Gold Standard in 1925 Portuguese Version 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 U K and the Gold Standard in 1925 Portuguese Version products
Using elements of premium prices in other product ranges has also allowed U K and the Gold Standard in 1925 Portuguese Version to maintain significantly high profits and a consistent business growth

2.2.2. Psychological pricing

Since U K and the Gold Standard in 1925 Portuguese Version has a number of different product ranges and product groups, the use of psychological pricing has been beneficial
With the use of psychological pricing, U K and the Gold Standard in 1925 Portuguese Version also successfully adds more value to its products from the point of view of customers
U K and the Gold Standard in 1925 Portuguese Version also gains higher sales with psychological pricing
Consumer purchase a higher amount of U K and the Gold Standard in 1925 Portuguese Version products because of its use of psychological pricing
U K and the Gold Standard in 1925 Portuguese Version is able to increase its target audience and broaden its target purchaser groups

2.2.3. Geographical pricing

U K and the Gold Standard in 1925 Portuguese Version is able to penetrate different regional markets optimally with the use of geographical pricing
For offshore locations, geographical pricing also allows U K and the Gold Standard in 1925 Portuguese Version to cover shipping and customs expenses
Geographical pricing also allows U K and the Gold Standard in 1925 Portuguese Version 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, U K and the Gold Standard in 1925 Portuguese Version is also known to use bundle pricing strategy popularly
U K and the Gold Standard in 1925 Portuguese Version also uses bundle pricing during sales
Bundle pricing increases the trial rate for consumers
U K and the Gold Standard in 1925 Portuguese Version experiences higher return on the cost of gaining a new customer
With bundle pricing, U K and the Gold Standard in 1925 Portuguese Version 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 U K and the Gold Standard in 1925 Portuguese Version.

2.3. Placement

U K and the Gold Standard in 1925 Portuguese Version 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 U K and the Gold Standard in 1925 Portuguese Version in all markets
Company-operated stores give U K and the Gold Standard in 1925 Portuguese Version higher control over operations as well as store layout and design
U K and the Gold Standard in 1925 Portuguese Version 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 U K and the Gold Standard in 1925 Portuguese Version in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

U K and the Gold Standard in 1925 Portuguese Version 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 U K and the Gold Standard in 1925 Portuguese Version in unstable markets
Licensed stores have also given U K and the Gold Standard in 1925 Portuguese Version high business growth, and a boost for rapid market expansion and penetration
Through licensed stores, U K and the Gold Standard in 1925 Portuguese Version has also learned about local consumers and cultures
Licensed stores and shops encourage sales of products by U K and the Gold Standard in 1925 Portuguese Version by aligning it with local cultural values
Licensed stores also help U K and the Gold Standard in 1925 Portuguese Version in localizing its product offerings to enhance brand equity and band image

2.3.3. E-commerce

U K and the Gold Standard in 1925 Portuguese Version has developed a successfully operational website for online order placement and order tracking
U K and the Gold Standard in 1925 Portuguese Version 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 U K and the Gold Standard in 1925 Portuguese Version and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

U K and the Gold Standard in 1925 Portuguese Version also places its products in supermarkets and hypermarkets across the country
A large number of U K and the Gold Standard in 1925 Portuguese Version target groups shop from supermarkets and hypermarkets
Placement in supermarkets and hypermarkets also improve cost efficiency for U K and the Gold Standard in 1925 Portuguese Version

2.3.5. Partner agents

In offshore locations, U K and the Gold Standard in 1925 Portuguese Version also makes use of partner agents for its products’ placement
These partner agents are assessed and evaluated on strategic compatibility and reliance
U K and the Gold Standard in 1925 Portuguese Version 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 U K and the Gold Standard in 1925 Portuguese Version also places high importance on the promotional tactics and strategies used. The promotional strategies allow the U K and the Gold Standard in 1925 Portuguese Version to interact with the consumers and influence them directly. U K and the Gold Standard in 1925 Portuguese Version uses a 360-degree approach in its promotional activities, and makes use of the following means of promotion:

2.4.1. Digital marketing

U K and the Gold Standard in 1925 Portuguese Version has corporate profiles on all social media websites and portals
U K and the Gold Standard in 1925 Portuguese Version uses its social media presence to directly, engage with consumers
This direct engagement and interaction allows U K and the Gold Standard in 1925 Portuguese Version to understand the customers, their needs and demands
U K and the Gold Standard in 1925 Portuguese Version uses this feedback and incorporates it in its broader marketing and organizational strategy
U K and the Gold Standard in 1925 Portuguese Version 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

U K and the Gold Standard in 1925 Portuguese Version 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 U K and the Gold Standard in 1925 Portuguese Version and is valued for points against the products’ monetary value
The loyalty card can be purchased or is given complementary by U K and the Gold Standard in 1925 Portuguese Version on high valued purchases
Frequent usage and purchase of products by U K and the Gold Standard in 1925 Portuguese Version also has rewards against the loyalty card

2.4.3. Community Influencers

U K and the Gold Standard in 1925 Portuguese Version makes use of community influencers as its on-ground promotional efforts
U K and the Gold Standard in 1925 Portuguese Version identifies strong and confident individuals to be brand ambassadors in their communities
U K and the Gold Standard in 1925 Portuguese Version 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, U K and the Gold Standard in 1925 Portuguese Version also makes use of out of house hoardings
Hoardings increase visibility for U K and the Gold Standard in 1925 Portuguese Version and also work towards building stronger brand recall
U K and the Gold Standard in 1925 Portuguese Version also produces TV advertisements
All TV advertisements have an emotional appeal to them
TV advertisements by U K and the Gold Standard in 1925 Portuguese Version have progressed to include a slice of life elements and characteristics
TV advertisements by U K and the Gold Standard in 1925 Portuguese Version also highlight the functional benefits of the product

2.5. People

The marketing mix of U K and the Gold Standard in 1925 Portuguese Version also places an essential focus on people development and people building. This is because U K and the Gold Standard in 1925 Portuguese Version realizes the importance of employees in building strong customer relationships. U K and the Gold Standard in 1925 Portuguese Version develops its employee and people by focusing on the following aspects:

2.5.1. Training

U K and the Gold Standard in 1925 Portuguese Version makes sure that all employees undergo regular training sessions for skill development and enhancement
Trainings at U K and the Gold Standard in 1925 Portuguese Version are not the only field related, but also focus on essential management and organizational skills
Training sessions and activities at U K and the Gold Standard in 1925 Portuguese Version also identify with the employee's own needs of progression, development and growth
All training sessions and activities designed and carried out by U K and the Gold Standard in 1925 Portuguese Version take into consideration business goals and objectives, as well as employee's personal goals and aspirations
U K and the Gold Standard in 1925 Portuguese Version, 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

U K and the Gold Standard in 1925 Portuguese Version works on strengthening the organizational commitment in its employees
U K and the Gold Standard in 1925 Portuguese Version builds employee loyalty so that people can reflect their optimal best at work
U K and the Gold Standard in 1925 Portuguese Version also understands that satisfied employees will lead to happy and satisfied customers
U K and the Gold Standard in 1925 Portuguese Version regularly shares different reward programs for employees, including stock sharing, so that their organizational commitment and ownership is enhanced
U K and the Gold Standard in 1925 Portuguese Version 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

U K and the Gold Standard in 1925 Portuguese Version employees are the face of the organization
U K and the Gold Standard in 1925 Portuguese Version are motivated through the exciting and creative organizational culture
Employees are also motivated through different reward programs and bonuses that U K and the Gold Standard in 1925 Portuguese Version 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

U K and the Gold Standard in 1925 Portuguese Version remains one of the leading players in the industry also because of its focus on succession planning
U K and the Gold Standard in 1925 Portuguese Version 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 U K and the Gold Standard in 1925 Portuguese Version
Strategic succession planning has allowed U K and the Gold Standard in 1925 Portuguese Version to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

U K and the Gold Standard in 1925 Portuguese Version has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

All operations at U K and the Gold Standard in 1925 Portuguese Version are clearly defined and communicated to the employees
U K and the Gold Standard in 1925 Portuguese Version 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 U K and the Gold Standard in 1925 Portuguese Version

2.6.2. People Management

U K and the Gold Standard in 1925 Portuguese Version has also defined clear processes for people management through streamlining its human resource management department
U K and the Gold Standard in 1925 Portuguese Version 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 U K and the Gold Standard in 1925 Portuguese Version to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

U K and the Gold Standard in 1925 Portuguese Version 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

U K and the Gold Standard in 1925 Portuguese Version 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 U K and the Gold Standard in 1925 Portuguese Version 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 U K and the Gold Standard in 1925 Portuguese Version as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for U K and the Gold Standard in 1925 Portuguese Version include:

2.7.1. Store atmosphere

The store design and management for U K and the Gold Standard in 1925 Portuguese Version 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 U K and the Gold Standard in 1925 Portuguese Version at ease
The store design is also important for U K and the Gold Standard in 1925 Portuguese Version 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 U K and the Gold Standard in 1925 Portuguese Version 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

U K and the Gold Standard in 1925 Portuguese Version has unique packaging, which is different from other players in the industry
U K and the Gold Standard in 1925 Portuguese Version 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 U K and the Gold Standard in 1925 Portuguese Version
The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by U K and the Gold Standard in 1925 Portuguese Version

2.7.3. Website design

The website design is simple and easy to use
U K and the Gold Standard in 1925 Portuguese Version has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
The corporate website of U K and the Gold Standard in 1925 Portuguese Version 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

3. References

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