Marketing Mix Of Pan Pacific Petroleum Nl

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 Pan Pacific Petroleum Nl

Pan Pacific Petroleum Nl makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix Pan Pacific Petroleum Nl is presented below:

2.1. Product

Product is one of the most important components of the Pan Pacific Petroleum Nl Marketing mix. The distinctive characteristics of the product by Pan Pacific Petroleum Nl are:

2.1.1. Quality

• Pan Pacific Petroleum Nl maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• Pan Pacific Petroleum Nl 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 Pan Pacific Petroleum Nl with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by Pan Pacific Petroleum Nl 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

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

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

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

2.3.2. Licensed stores

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

2.3.3. E-commerce

• Pan Pacific Petroleum Nl has developed a successfully operational website for online order placement and order tracking
• Pan Pacific Petroleum Nl 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 Pan Pacific Petroleum Nl and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• Pan Pacific Petroleum Nl also places its products in supermarkets and hypermarkets across the country
• A large number of Pan Pacific Petroleum Nl target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for Pan Pacific Petroleum Nl

2.3.5. Partner agents

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

2.4.1. Digital marketing

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

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

2.4.3. Community Influencers

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

2.5. People

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

2.5.1. Training

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

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

• Pan Pacific Petroleum Nl employees are the face of the organization
• Pan Pacific Petroleum Nl are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that Pan Pacific Petroleum Nl 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

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

2.6. Process

Pan Pacific Petroleum Nl has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at Pan Pacific Petroleum Nl are clearly defined and communicated to the employees
• Pan Pacific Petroleum Nl 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 Pan Pacific Petroleum Nl

2.6.2. People Management

• Pan Pacific Petroleum Nl has also defined clear processes for people management through streamlining its human resource management department
• Pan Pacific Petroleum Nl 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 Pan Pacific Petroleum Nl to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• Pan Pacific Petroleum Nl 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

• Pan Pacific Petroleum Nl 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 Pan Pacific Petroleum Nl 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 Pan Pacific Petroleum Nl as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for Pan Pacific Petroleum Nl include:

2.7.1. Store atmosphere

• The store design and management for Pan Pacific Petroleum Nl 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 Pan Pacific Petroleum Nl at ease
• The store design is also important for Pan Pacific Petroleum Nl 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 Pan Pacific Petroleum Nl 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

• Pan Pacific Petroleum Nl has unique packaging, which is different from other players in the industry
• Pan Pacific Petroleum Nl 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 Pan Pacific Petroleum Nl
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by Pan Pacific Petroleum Nl

2.7.3. Website design

• The website design is simple and easy to use
• Pan Pacific Petroleum Nl has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of Pan Pacific Petroleum Nl 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