Marketing Mix Of Landmark White Limited

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 Landmark White Limited

Landmark White Limited makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix Landmark White Limited is presented below:

2.1. Product

Product is one of the most important components of the Landmark White Limited Marketing mix. The distinctive characteristics of the product by Landmark White Limited are:

2.1.1. Quality

• Landmark White Limited maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• Landmark White Limited 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 Landmark White Limited with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by Landmark White Limited 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

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

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

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

2.3.2. Licensed stores

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

2.3.3. E-commerce

• Landmark White Limited has developed a successfully operational website for online order placement and order tracking
• Landmark White Limited 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 Landmark White Limited and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• Landmark White Limited also places its products in supermarkets and hypermarkets across the country
• A large number of Landmark White Limited target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for Landmark White Limited

2.3.5. Partner agents

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

2.4.1. Digital marketing

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

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

2.4.3. Community Influencers

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

2.5. People

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

2.5.1. Training

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

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

• Landmark White Limited employees are the face of the organization
• Landmark White Limited are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that Landmark White Limited 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

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

2.6. Process

Landmark White Limited has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at Landmark White Limited are clearly defined and communicated to the employees
• Landmark White Limited 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 Landmark White Limited

2.6.2. People Management

• Landmark White Limited has also defined clear processes for people management through streamlining its human resource management department
• Landmark White Limited 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 Landmark White Limited to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• Landmark White Limited 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

• Landmark White Limited 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 Landmark White Limited 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 Landmark White Limited as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for Landmark White Limited include:

2.7.1. Store atmosphere

• The store design and management for Landmark White Limited 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 Landmark White Limited at ease
• The store design is also important for Landmark White Limited 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 Landmark White Limited 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

• Landmark White Limited has unique packaging, which is different from other players in the industry
• Landmark White Limited 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 Landmark White Limited
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by Landmark White Limited

2.7.3. Website design

• The website design is simple and easy to use
• Landmark White Limited has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of Landmark White Limited 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