Marketing Mix Of Sanderson Farms Inc

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 Sanderson Farms Inc

Sanderson Farms Inc makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix Sanderson Farms Inc is presented below:

2.1. Product

Product is one of the most important components of the Sanderson Farms Inc Marketing mix. The distinctive characteristics of the product by Sanderson Farms Inc are:

2.1.1. Quality

• Sanderson Farms Inc maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• Sanderson Farms Inc 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 Sanderson Farms Inc with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by Sanderson Farms Inc 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

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

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

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

2.2.3. Geographical pricing

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

2.3. Placement

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

2.3.2. Licensed stores

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

2.3.3. E-commerce

• Sanderson Farms Inc has developed a successfully operational website for online order placement and order tracking
• Sanderson Farms Inc 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 Sanderson Farms Inc and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

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

2.3.5. Partner agents

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

2.4.1. Digital marketing

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

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

2.4.3. Community Influencers

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

2.5. People

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

2.5.1. Training

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

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

• Sanderson Farms Inc employees are the face of the organization
• Sanderson Farms Inc are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that Sanderson Farms Inc 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

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

2.6. Process

Sanderson Farms Inc has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at Sanderson Farms Inc are clearly defined and communicated to the employees
• Sanderson Farms Inc 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 Sanderson Farms Inc

2.6.2. People Management

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

2.6.3. Quality maintenance

• Sanderson Farms Inc 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

• Sanderson Farms Inc 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 Sanderson Farms Inc 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 Sanderson Farms Inc as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for Sanderson Farms Inc include:

2.7.1. Store atmosphere

• The store design and management for Sanderson Farms Inc 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 Sanderson Farms Inc at ease
• The store design is also important for Sanderson Farms Inc 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 Sanderson Farms Inc 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

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

2.7.3. Website design

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