Marketing Mix Of ScPharmaceuticals 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 ScPharmaceuticals Inc

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

Marketing Mix ScPharmaceuticals Inc is presented below:

2.1. Product

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

2.1.1. Quality

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

2.1.2. Ease of use

• The products manufactured and sold by ScPharmaceuticals 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

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

2.1.4. Benefits of product consumption

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

2.2. Price

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

2.2.2. Psychological pricing

• Since ScPharmaceuticals 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, ScPharmaceuticals Inc also successfully adds more value to its products from the point of view of customers
• ScPharmaceuticals Inc also gains higher sales with psychological pricing
• Consumer purchase a higher amount of ScPharmaceuticals Inc products because of its use of psychological pricing
• ScPharmaceuticals Inc is able to increase its target audience and broaden its target purchaser groups

2.2.3. Geographical pricing

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

2.3. Placement

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

2.3.2. Licensed stores

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

2.3.3. E-commerce

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

2.3.4. Supermarkets and hypermarkets

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

2.3.5. Partner agents

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

2.4.1. Digital marketing

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

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

2.4.3. Community Influencers

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

2.5. People

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

2.5.1. Training

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

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

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

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

2.6. Process

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

2.6.1. Operations

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

2.6.2. People Management

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

2.6.3. Quality maintenance

• ScPharmaceuticals 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

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

2.7.1. Store atmosphere

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

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

2.7.3. Website design

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