Marketing Mix Of UCB B Growth Strategy

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 UCB B Growth Strategy

UCB B Growth Strategy makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix UCB B Growth Strategy is presented below:

2.1. Product

Product is one of the most important components of the UCB B Growth Strategy Marketing mix. The distinctive characteristics of the product by UCB B Growth Strategy are:

2.1.1. Quality

• UCB B Growth Strategy maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• UCB B Growth Strategy 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 UCB B Growth Strategy with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by UCB B Growth Strategy 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

• UCB B Growth Strategy has a broad portfolio of products
• The broad portfolio helps UCB B Growth Strategy in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to UCB B Growth Strategy
• The broader product portfolio also adds more value for UCB B Growth Strategy

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

UCB B Growth Strategy 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 UCB B Growth Strategy in all markets
• Company-operated stores give UCB B Growth Strategy higher control over operations as well as store layout and design
• UCB B Growth Strategy 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 UCB B Growth Strategy in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

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

2.3.3. E-commerce

• UCB B Growth Strategy has developed a successfully operational website for online order placement and order tracking
• UCB B Growth Strategy 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 UCB B Growth Strategy and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• UCB B Growth Strategy also places its products in supermarkets and hypermarkets across the country
• A large number of UCB B Growth Strategy target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for UCB B Growth Strategy

2.3.5. Partner agents

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

2.4.1. Digital marketing

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

• UCB B Growth Strategy 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 UCB B Growth Strategy and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by UCB B Growth Strategy on high valued purchases
• Frequent usage and purchase of products by UCB B Growth Strategy also has rewards against the loyalty card

2.4.3. Community Influencers

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

2.5. People

The marketing mix of UCB B Growth Strategy also places an essential focus on people development and people building. This is because UCB B Growth Strategy realizes the importance of employees in building strong customer relationships. UCB B Growth Strategy develops its employee and people by focusing on the following aspects:

2.5.1. Training

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

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

• UCB B Growth Strategy employees are the face of the organization
• UCB B Growth Strategy are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that UCB B Growth Strategy 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

• UCB B Growth Strategy remains one of the leading players in the industry also because of its focus on succession planning
• UCB B Growth Strategy 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 UCB B Growth Strategy
• Strategic succession planning has allowed UCB B Growth Strategy to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

UCB B Growth Strategy has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at UCB B Growth Strategy are clearly defined and communicated to the employees
• UCB B Growth Strategy 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 UCB B Growth Strategy

2.6.2. People Management

• UCB B Growth Strategy has also defined clear processes for people management through streamlining its human resource management department
• UCB B Growth Strategy 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 UCB B Growth Strategy to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• UCB B Growth Strategy 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

• UCB B Growth Strategy 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 UCB B Growth Strategy 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 UCB B Growth Strategy as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for UCB B Growth Strategy include:

2.7.1. Store atmosphere

• The store design and management for UCB B Growth Strategy 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 UCB B Growth Strategy at ease
• The store design is also important for UCB B Growth Strategy 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 UCB B Growth Strategy 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

• UCB B Growth Strategy has unique packaging, which is different from other players in the industry
• UCB B Growth Strategy 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 UCB B Growth Strategy
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by UCB B Growth Strategy

2.7.3. Website design

• The website design is simple and easy to use
• UCB B Growth Strategy has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of UCB B Growth Strategy 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