Marketing Mix Of CIM Commercial Trust Corporation

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 CIM Commercial Trust Corporation

CIM Commercial Trust Corporation makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix CIM Commercial Trust Corporation is presented below:

2.1. Product

Product is one of the most important components of the CIM Commercial Trust Corporation Marketing mix. The distinctive characteristics of the product by CIM Commercial Trust Corporation are:

2.1.1. Quality

• CIM Commercial Trust Corporation maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• CIM Commercial Trust Corporation 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 CIM Commercial Trust Corporation with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by CIM Commercial Trust Corporation 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

• CIM Commercial Trust Corporation has a broad portfolio of products
• The broad portfolio helps CIM Commercial Trust Corporation in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to CIM Commercial Trust Corporation
• The broader product portfolio also adds more value for CIM Commercial Trust Corporation

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

CIM Commercial Trust Corporation 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 CIM Commercial Trust Corporation in all markets
• Company-operated stores give CIM Commercial Trust Corporation higher control over operations as well as store layout and design
• CIM Commercial Trust Corporation 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 CIM Commercial Trust Corporation in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

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

2.3.3. E-commerce

• CIM Commercial Trust Corporation has developed a successfully operational website for online order placement and order tracking
• CIM Commercial Trust Corporation 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 CIM Commercial Trust Corporation and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• CIM Commercial Trust Corporation also places its products in supermarkets and hypermarkets across the country
• A large number of CIM Commercial Trust Corporation target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for CIM Commercial Trust Corporation

2.3.5. Partner agents

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

2.4.1. Digital marketing

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

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

2.4.3. Community Influencers

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

2.5. People

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

2.5.1. Training

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

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

• CIM Commercial Trust Corporation employees are the face of the organization
• CIM Commercial Trust Corporation are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that CIM Commercial Trust Corporation 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

• CIM Commercial Trust Corporation remains one of the leading players in the industry also because of its focus on succession planning
• CIM Commercial Trust Corporation 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 CIM Commercial Trust Corporation
• Strategic succession planning has allowed CIM Commercial Trust Corporation to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

CIM Commercial Trust Corporation has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at CIM Commercial Trust Corporation are clearly defined and communicated to the employees
• CIM Commercial Trust Corporation 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 CIM Commercial Trust Corporation

2.6.2. People Management

• CIM Commercial Trust Corporation has also defined clear processes for people management through streamlining its human resource management department
• CIM Commercial Trust Corporation 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 CIM Commercial Trust Corporation to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• CIM Commercial Trust Corporation 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

• CIM Commercial Trust Corporation 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 CIM Commercial Trust Corporation 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 CIM Commercial Trust Corporation as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for CIM Commercial Trust Corporation include:

2.7.1. Store atmosphere

• The store design and management for CIM Commercial Trust Corporation 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 CIM Commercial Trust Corporation at ease
• The store design is also important for CIM Commercial Trust Corporation 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 CIM Commercial Trust Corporation 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

• CIM Commercial Trust Corporation has unique packaging, which is different from other players in the industry
• CIM Commercial Trust Corporation 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 CIM Commercial Trust Corporation
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by CIM Commercial Trust Corporation

2.7.3. Website design

• The website design is simple and easy to use
• CIM Commercial Trust Corporation has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of CIM Commercial Trust Corporation 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