Marketing Mix Of Wider Europe The Challenge of EU Enlargement

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 Wider Europe The Challenge of EU Enlargement

Wider Europe The Challenge of EU Enlargement makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix Wider Europe The Challenge of EU Enlargement is presented below:

2.1. Product

Product is one of the most important components of the Wider Europe The Challenge of EU Enlargement Marketing mix. The distinctive characteristics of the product by Wider Europe The Challenge of EU Enlargement are:

2.1.1. Quality

• Wider Europe The Challenge of EU Enlargement maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• Wider Europe The Challenge of EU Enlargement 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 Wider Europe The Challenge of EU Enlargement with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by Wider Europe The Challenge of EU Enlargement 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

• Wider Europe The Challenge of EU Enlargement has a broad portfolio of products
• The broad portfolio helps Wider Europe The Challenge of EU Enlargement in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to Wider Europe The Challenge of EU Enlargement
• The broader product portfolio also adds more value for Wider Europe The Challenge of EU Enlargement

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

Wider Europe The Challenge of EU Enlargement 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 Wider Europe The Challenge of EU Enlargement in all markets
• Company-operated stores give Wider Europe The Challenge of EU Enlargement higher control over operations as well as store layout and design
• Wider Europe The Challenge of EU Enlargement 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 Wider Europe The Challenge of EU Enlargement in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

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

2.3.3. E-commerce

• Wider Europe The Challenge of EU Enlargement has developed a successfully operational website for online order placement and order tracking
• Wider Europe The Challenge of EU Enlargement 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 Wider Europe The Challenge of EU Enlargement and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• Wider Europe The Challenge of EU Enlargement also places its products in supermarkets and hypermarkets across the country
• A large number of Wider Europe The Challenge of EU Enlargement target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for Wider Europe The Challenge of EU Enlargement

2.3.5. Partner agents

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

2.4.1. Digital marketing

• Wider Europe The Challenge of EU Enlargement has corporate profiles on all social media websites and portals
• Wider Europe The Challenge of EU Enlargement uses its social media presence to directly, engage with consumers
• This direct engagement and interaction allows Wider Europe The Challenge of EU Enlargement to understand the customers, their needs and demands
• Wider Europe The Challenge of EU Enlargement uses this feedback and incorporates it in its broader marketing and organizational strategy
• Wider Europe The Challenge of EU Enlargement 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

• Wider Europe The Challenge of EU Enlargement 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 Wider Europe The Challenge of EU Enlargement and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by Wider Europe The Challenge of EU Enlargement on high valued purchases
• Frequent usage and purchase of products by Wider Europe The Challenge of EU Enlargement also has rewards against the loyalty card

2.4.3. Community Influencers

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

2.5. People

The marketing mix of Wider Europe The Challenge of EU Enlargement also places an essential focus on people development and people building. This is because Wider Europe The Challenge of EU Enlargement realizes the importance of employees in building strong customer relationships. Wider Europe The Challenge of EU Enlargement develops its employee and people by focusing on the following aspects:

2.5.1. Training

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

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

• Wider Europe The Challenge of EU Enlargement employees are the face of the organization
• Wider Europe The Challenge of EU Enlargement are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that Wider Europe The Challenge of EU Enlargement 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

• Wider Europe The Challenge of EU Enlargement remains one of the leading players in the industry also because of its focus on succession planning
• Wider Europe The Challenge of EU Enlargement 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 Wider Europe The Challenge of EU Enlargement
• Strategic succession planning has allowed Wider Europe The Challenge of EU Enlargement to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

Wider Europe The Challenge of EU Enlargement has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at Wider Europe The Challenge of EU Enlargement are clearly defined and communicated to the employees
• Wider Europe The Challenge of EU Enlargement 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 Wider Europe The Challenge of EU Enlargement

2.6.2. People Management

• Wider Europe The Challenge of EU Enlargement has also defined clear processes for people management through streamlining its human resource management department
• Wider Europe The Challenge of EU Enlargement 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 Wider Europe The Challenge of EU Enlargement to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• Wider Europe The Challenge of EU Enlargement 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

• Wider Europe The Challenge of EU Enlargement 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 Wider Europe The Challenge of EU Enlargement 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 Wider Europe The Challenge of EU Enlargement as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for Wider Europe The Challenge of EU Enlargement include:

2.7.1. Store atmosphere

• The store design and management for Wider Europe The Challenge of EU Enlargement 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 Wider Europe The Challenge of EU Enlargement at ease
• The store design is also important for Wider Europe The Challenge of EU Enlargement 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 Wider Europe The Challenge of EU Enlargement 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

• Wider Europe The Challenge of EU Enlargement has unique packaging, which is different from other players in the industry
• Wider Europe The Challenge of EU Enlargement 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 Wider Europe The Challenge of EU Enlargement
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by Wider Europe The Challenge of EU Enlargement

2.7.3. Website design

• The website design is simple and easy to use
• Wider Europe The Challenge of EU Enlargement has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of Wider Europe The Challenge of EU Enlargement 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