Marketing Mix Of Whose Money Is It Anyway C

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 Whose Money Is It Anyway C

Whose Money Is It Anyway C makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix Whose Money Is It Anyway C is presented below:

2.1. Product

Product is one of the most important components of the Whose Money Is It Anyway C Marketing mix. The distinctive characteristics of the product by Whose Money Is It Anyway C are:

2.1.1. Quality

• Whose Money Is It Anyway C maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• Whose Money Is It Anyway C 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 Whose Money Is It Anyway C with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by Whose Money Is It Anyway C 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

• Whose Money Is It Anyway C has a broad portfolio of products
• The broad portfolio helps Whose Money Is It Anyway C in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to Whose Money Is It Anyway C
• The broader product portfolio also adds more value for Whose Money Is It Anyway C

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

Whose Money Is It Anyway C 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 Whose Money Is It Anyway C in all markets
• Company-operated stores give Whose Money Is It Anyway C higher control over operations as well as store layout and design
• Whose Money Is It Anyway C 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 Whose Money Is It Anyway C in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

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

2.3.3. E-commerce

• Whose Money Is It Anyway C has developed a successfully operational website for online order placement and order tracking
• Whose Money Is It Anyway C 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 Whose Money Is It Anyway C and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• Whose Money Is It Anyway C also places its products in supermarkets and hypermarkets across the country
• A large number of Whose Money Is It Anyway C target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for Whose Money Is It Anyway C

2.3.5. Partner agents

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

2.4.1. Digital marketing

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

• Whose Money Is It Anyway C 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 Whose Money Is It Anyway C and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by Whose Money Is It Anyway C on high valued purchases
• Frequent usage and purchase of products by Whose Money Is It Anyway C also has rewards against the loyalty card

2.4.3. Community Influencers

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

2.5. People

The marketing mix of Whose Money Is It Anyway C also places an essential focus on people development and people building. This is because Whose Money Is It Anyway C realizes the importance of employees in building strong customer relationships. Whose Money Is It Anyway C develops its employee and people by focusing on the following aspects:

2.5.1. Training

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

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

• Whose Money Is It Anyway C employees are the face of the organization
• Whose Money Is It Anyway C are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that Whose Money Is It Anyway C 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

• Whose Money Is It Anyway C remains one of the leading players in the industry also because of its focus on succession planning
• Whose Money Is It Anyway C 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 Whose Money Is It Anyway C
• Strategic succession planning has allowed Whose Money Is It Anyway C to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

Whose Money Is It Anyway C has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at Whose Money Is It Anyway C are clearly defined and communicated to the employees
• Whose Money Is It Anyway C 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 Whose Money Is It Anyway C

2.6.2. People Management

• Whose Money Is It Anyway C has also defined clear processes for people management through streamlining its human resource management department
• Whose Money Is It Anyway C 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 Whose Money Is It Anyway C to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• Whose Money Is It Anyway C 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

• Whose Money Is It Anyway C 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 Whose Money Is It Anyway C 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 Whose Money Is It Anyway C as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for Whose Money Is It Anyway C include:

2.7.1. Store atmosphere

• The store design and management for Whose Money Is It Anyway C 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 Whose Money Is It Anyway C at ease
• The store design is also important for Whose Money Is It Anyway C 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 Whose Money Is It Anyway C 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

• Whose Money Is It Anyway C has unique packaging, which is different from other players in the industry
• Whose Money Is It Anyway C 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 Whose Money Is It Anyway C
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by Whose Money Is It Anyway C

2.7.3. Website design

• The website design is simple and easy to use
• Whose Money Is It Anyway C has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of Whose Money Is It Anyway C 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