Thank You!
Thank you for your email subscription. Check your email to get Coupon Code.
Marketing Mix (4Ps) Analysis of Advanced Energy Programs for Energy Conservation
Posted by Addison on Jul-19-2022
About 4Ps Model
The 4p model of marketing comprises elements of the product, price, promotion, and place (Chernev, 2018; Kucuk, 2017). The model is commonly referred to as the marketing mix. The marketing mix of the Advanced Energy Programs for Energy Conservation allows and facilitates it in achieving its marketing objectives as well as in positively influencing the target audience (Baines, Fill, & Rosengren, 2017). The elements identified in the marketing mix are typically used by the Advanced Energy Programs for Energy Conservation for marketing its product and service, and for brand development and building activities. These elements are critically fundamental for the development and creation of marketing plans and marketing strategies by the Advanced Energy Programs for Energy Conservation – especially for developing and sustaining competitive advantage (Chernev, 2018; Stead & Hastings, 2018; Grewal & Levy, 2021). Advanced Energy Programs for Energy Conservation ensures that the elements identified for the marketing mix model work together cohesively, and complement each other in all its marketing strategies and plans (Abratt & Bendixen, 2018; Deepak & Jeyakumar, 2019).
Product
The product refers to the actual good or service that is being marketed to the consumers by Advanced Energy Programs for Energy Conservation, and which will be consumed by the target audience of the Advanced Energy Programs for Energy Conservation (Groucutt & Hopkins, 2015). The product or the service being offered by Advanced Energy Programs for Energy Conservation largely aims to fulfill a market need and demand, as well as works to create demand by providing a unique and fulfilling customer experience (Stead & Hastings, 2018; Sahaf, 2019).
Quality
Product quality for Advanced Energy Programs for Energy Conservation largely refers to how well the company is able to satisfy the customers’ needs and demands through its product and service offerings (Baines, Fill, & Rosengren, 2017; Deepak & Jeyakumar, 2019). In addition to this, the product quality for Advanced Energy Programs for Energy Conservation further includes the adherence of the company and its product and service offerings to industry standards and benchmarks as well as the ability of the same to serve its meaning and purpose comprehensively (Iacobucci, 2021; Groucutt & Hopkins, 2015; Chernev, 2018).
Customer demand fulfillment
The ability of the product and service to fulfill customer demands as well as its purpose, and to work efficiently and effectively are important facets of product quality for Advanced Energy Programs for Energy Conservation (Iacobucci, 2021; Deepak & Jeyakumar, 2019). Advanced Energy Programs for Energy Conservation ensures that its products are available for customers at affordable prices by controlling internal costs (Wu & Li, 2018).
Warranty
The warranty extended by Advanced Energy Programs for Energy Conservation includes the guarantee that the company to its customers regarding the functioning and the quality of the purchased food and service (Abratt & Bendixen, 2018). In addition, Advanced Energy Programs for Energy Conservation’s warranty also includes any compensation that the company has promised to give the customers in case the product and service fall short of the marketed benefits and functionalities (Išoraitė, 2016; Grewal & Levy, 2021; Kucuk, 2017).
Packaging
Advanced Energy Programs for Energy Conservation focuses thoroughly on the packaging and makes sure it includes the process of designing, evaluating, and developing a container for the products and services being manufactured and marketed (Deepak & Jeyakumar, 2019; Baines, Fill, & Rosengren, 2017). The packaging of the product and the service allows Advanced Energy Programs for Energy Conservation to highlight the product's purpose, as well as provides ease in transportation, gives room for more prolonged shelf life, and creates a unique and delightful customer experience (Kareh, 2018; Park, 2020).
Brand
The Advanced Energy Programs for Energy Conservation invests in developing brands out of its products and service offerings. This means that the Advanced Energy Programs for Energy Conservation engages in brand-building activities for its offerings i.e. associating specific designs and communications with its products to ensure differentiation, and easier communication with the target audience (Gillespie & Swan, 2021).
Building the brand
The branding-building activities undertaken by the Advanced Energy Programs for Energy Conservation ensure that its target audience is better able to relate to the offerings (Abratt & Bendixen, 2018). Through this, the Advanced Energy Programs for Energy Conservation ensures higher loyalty and repeat purchases, as well as positive perception creation for its offerings (Khan, 2014; Kareh, 2018).
Features
Product features or characteristics refer to the product traits and attributes present in the offerings of Advanced Energy Programs for Energy Conservation that allow the company to successfully deliver unique value to customers through the products and services manufactured and offered (Varadarajan, 2015; Kotler & Keller, 2021). The product traits and features also allow Advanced Energy Programs for Energy Conservation to create points of differentiation from the competition for its offering (Kotler & Keller, 2021; Park, 2020).
Product style
Advanced Energy Programs for Energy Conservation makes sure to focus on the design and the look of the product, and the ability of the same to meet the expectations and lifestyle of the target audience (Groucutt & Hopkins, 2015). The Advanced Energy Programs for Energy Conservation ensures that the product style and design complement its features and purpose.
Functionality
Advanced Energy Programs for Energy Conservation makes sure that the product manufactured fulfills its purpose, and meets customer expectations (Abratt & Bendixen, 2018). Advanced Energy Programs for Energy Conservation focuses on the product design, and how well it is able to fulfill the demands of the customers, as well as fill in the market gap (Baines, Fill, & Rosengren, 2017)
Experience
Advanced Energy Programs for Energy Conservation products provide the customers with an exceptional and unique experience upon consumption (Kotler & Keller, 2021). This experience includes interaction with the products that leads to different unique and positive customer feelings and helps the Advanced Energy Programs for Energy Conservation maintain differentiation from the competition (Varadarajan, 2015; Kotabe & Helsen, 2020).
Availability
Advanced Energy Programs for Energy Conservation ensures that its product and service offerings are available for its target consumers at various retail setups. The easy availability ensures that consumers are able to purchase the offerings of Advanced Energy Programs for Energy Conservation from various locations, allowing the Advanced Energy Programs for Energy Conservation to create an advantage over competing players (Kotler & Keller, 2021; Chernev, 2018).
Convenience
One point of focus for Advanced Energy Programs for Energy Conservation in its product offering is convenience. The Advanced Energy Programs for Energy Conservation ensures that its products and service are easy and convenient to use. The factor of convenience allows Advanced Energy Programs for Energy Conservation to enjoy a higher consumption rate, as well as increased sales and trials (Kotabe & Helsen, 2020; Kucuk, 2017).
After-sales service
Advanced Energy Programs for Energy Conservation caters to after-sales queries and demands of customers, which also includes processes of returns as well as exchanges. The after-sales service of company Advanced Energy Programs for Energy Conservation is detrimental and critical in determining customer satisfaction with its offerings (Iacobucci, 2021; Chernev, 2018).
Sizes
Advanced Energy Programs for Energy Conservation has different SKUs in the product available. Advanced Energy Programs for Energy Conservation has its products available in various SKU sizes which helps the company boost its sales, as different customer groups have different demands for the product quantity – depending on their usage, income as well as lifestyle (Grewal & Levy, 2021; Deepak & Jeyakumar, 2019).
Price
The element of price in the marketing mix refers to the value that customers pay for the service or the product offered by Advanced Energy Programs for Energy Conservation. The pricing strategy and the price of the offerings are critical because it determines three success for Advanced Energy Programs for Energy Conservation by directly influencing the profit levels and revenue for the company (Kotabe & Helsen, 2020; Kotler & Keller, 2021; Deepak & Jeyakumar, 2019).
Discounts
One of the ways through which the Advanced Energy Programs for Energy Conservation influences its pricing strategies is through offering discounts on its product and service offerings. Discounted pricing for the Advanced Energy Programs for Energy Conservation means that Advanced Energy Programs for Energy Conservation decreases the price of the product and service in order to generate interest, or even unload excessive inventory and stock; as well as for boosting sales (Baines, Fill, & Rosengren, 2017).
Margins
Advanced Energy Programs for Energy Conservation makes room for margins through the additional value charged in price over the cost – which allows the Advanced Energy Programs for Energy Conservation to build profit for its offerings (Kucuk, 2017). The margins available to the Advanced Energy Programs for Energy Conservation largely depend on the offering and its quality itself, in addition to the brand equity and brand value of the company.
Payment method
A significant factor of the pricing element of the marketing mix for the Advanced Energy Programs for Energy Conservation includes the payment methods that the company offers (Kotler & Keller, 2021; Abratt & Bendixen, 2018). Since the Advanced Energy Programs for Energy Conservation largely operates distribution to retail via agents and retailers, it ensures the inclusion of different payment methods. This includes digital payment, cash payment, as well as credit allowances (Grewal & Levy, 2021; Groucutt & Hopkins, 2015).
Pricing strategy
Penetrative pricing strategy
For Advanced Energy Programs for Energy Conservation, the penetrative pricing strategy is adopted as it allows the company higher trial generation of its products and services in the desired target market, as well as allows the building of a broader reach for its product offerings by ensuring easier affordability (Baines, Fill, & Rosengren, 2017).
Introductory pricing strategy
For new products that the company launches, Advanced Energy Programs for Energy Conservation ensures to adopt an introductory pricing strategy. This means that the company prices its products and service offerings at relatively lower prices than the competition. This introductory pricing strategy allows the company to increase trial generation, achieve higher penetration, as well as lead to the generation of increased brand awareness and recall (Kucuk, 2017).
Aggressive/competitive pricing strategy
For existing products, Advanced Energy Programs for Energy Conservation uses a competitive and aggressive pricing strategy. This ensures that the products are available readily at competitive prices. Aggressive and competitive pricing strategies allow the Advanced Energy Programs for Energy Conservation to experience high rates of growth and experience by allowing the buildup of consumer loyalty and following based largely on product attributes and quality instead of price– leading to the generation of higher brand equity and value for Advanced Energy Programs for Energy Conservation (Deepak & Jeyakumar, 2019).
Place
The element of place within the 4Ps model of the marketing mix largely refers to the locations where company Advanced Energy Programs for Energy Conservation stocks its product and service offerings for consumers' accessibility and purchase. Advanced Energy Programs for Energy Conservation ensures to include all possible placements which are easily accessible to and available for the company's target audience (Iacobucci, 2021; Išoraitė, 2016). With the advancement of technology, Advanced Energy Programs for Energy Conservation has expanded the placement of its products beyond the traditional brick-and-mortar retail spaces, to include modern Omni channel retail platforms as well (Iacobucci, 2021).
Physical stores/retail
The physical retail and stores i.e. the traditional brick and mortar spaces continue to be the prioritized locations for product placement by Advanced Energy Programs for Energy Conservation (Iacobucci, 2021; Groucutt & Hopkins, 2015; Abratt & Bendixen, 2018).
Retail types
These include hypermarkets, upper markets, and smaller grocery stores - all of which allow increased accessibility and availability of Advanced Energy Programs for Energy Conservation’s products and services to its target audience. Physical retail has a higher footfall and allows direct interaction of the Advanced Energy Programs for Energy Conservation brand and its product offerings with the consumers (Groucutt & Hopkins, 2015; Groucutt & Hopkins, 2015; Chernev, 2018).
E-commerce
E-tailers
The Advanced Energy Programs for Energy Conservation also stocks its products on e-commerce retail shops – such as amazon. This allows the Advanced Energy Programs for Energy Conservation higher access and penetration in other markets, as well as in secondary consumer groups. Moreover, e-commerce retailing is more cost-effective for the Advanced Energy Programs for Energy Conservation (Wu & Li, 2018; Chernev, 2018; Baines, Fill, & Rosengren, 2017).
Company-owned website
In addition to stocking products with other e-trailers, the Advanced Energy Programs for Energy Conservation also manages orders through its own website, where consumers can place orders for Advanced Energy Programs for Energy Conservation’s products directly. This allows the Advanced Energy Programs for Energy Conservation greater control over stock and inventory management, as well as distribution networks – allowing the buildup of stronger relations with consumers.
Lastly, the Advanced Energy Programs for Energy Conservation also takes limited orders through social media pages and platforms (Wu & Li, 2018; Baines, Fill, & Rosengren, 2017).
Aggregators
Another way through which Advanced Energy Programs for Energy Conservation uses e-commerce is by stocking its offerings with aggregators (Kucuk, 2017). This allows the Advanced Energy Programs for Energy Conservation to maximize its reach and increase penetration. At the same time, it also allows increased trial generation and repeats purchases for the Advanced Energy Programs for Energy Conservation product offerings (Išoraitė, 2016; Groucutt & Hopkins, 2015).
Specialty stores
Interestingly, the Advanced Energy Programs for Energy Conservation also stocks its products with specialty stores (Grewal & Levy, 2021). This gives the company direct exposure to its target market and audience and allows the consumers to directly interact with the brand and its offerings- without too much clutter (Kotler & Keller, 2021; Gillespie & Swan, 2021). The specialty stores are located in prime locations, and allow Advanced Energy Programs for Energy Conservation higher penetration and reach, leading to increased brand awareness for its product offerings (Groucutt & Hopkins, 2015; Išoraitė, 2016).
Direct sales
The Advanced Energy Programs for Energy Conservation also has a trained sales team for making direct sales (Kotler & Keller, 2021). Advanced Energy Programs for Energy Conservation targets not only B2C consumers but also B2-B consumers (Chernev, 2018; Grewal & Levy, 2021). Both these categories, also make use of direct marketing whereby the sales agents and teams visit the target audience and business directly and detail the product features and benefits (Kotler & Keller, 2021; Groucutt & Hopkins, 2015).
B2B and direct sales
Advanced Energy Programs for Energy Conservation’s team makes sales instantly during field visits for the company (Sahaf, 2019; Stead & Hastings, 2018). The target audience is carefully profiled and selected by the Advanced Energy Programs for Energy Conservation so that the sales representatives are able to filter out the clutter (Gillespie & Swan, 2021; Išoraitė, 2016). Advanced Energy Programs for Energy Conservation is able to easily contact and communicate with the desired business groups only (Groucutt & Hopkins, 2015; Abratt & Bendixen, 2018).
Inventory management
Advanced Energy Programs for Energy Conservation effectively manages its inventory and fulfills the retailer's demand in time to ensure that it manages customer relations efficiently – and does not lose any customers. Advanced Energy Programs for Energy Conservation has also introduced automation in inventory management which allows it to improve efficiency and speed, and reduce error rates (Park, 2020; Gillespie & Swan, 2021; Kucuk, 2017).
Transportation
For Advanced Energy Programs for Energy Conservation, this includes choosing cos effective transportation means for inventory handling, as well as order deliveries to customers, as well as retailers. The company uses third-party transportation, as well as manages its own in-house transportation networks for ensuring on-time order deliveries (Abratt & Bendixen, 2018; Chernev, 2018; Grewal & Levy, 2021).
Promotion
The element of promotion in the marketing mix for Advanced Energy Programs for Energy Conservation largely refers to the tactics and activities of communication that the company has adopted for promoting its products and services – including the brand, and its offerings, as well as other product features, characteristics, and activities (Varadarajan, 2015; Gillespie & Swan, 2021). The communication is largely targeted toward the Advanced Energy Programs for Energy Conservation's target audience and is aimed to increase brand awareness, brand loyalty as well as sales of the company (Wu & Li, 2018; Grewal & Levy, 2021).
Direct marketing
For its more specific products and offerings, Advanced Energy Programs for Energy Conservation uses direct marketing. Advanced Energy Programs for Energy Conservation directly emails potential customers- especially its B2B consumers for detailing its product offerings and features. Advanced Energy Programs for Energy Conservation uses personalized messages and captures new clients and customers for the business. In addition to direct emailing, the Advanced Energy Programs for Energy Conservation also makes use of telemarketing and direct mail for targeting audiences through direct marketing (Chernev, 2018; Sahaf, 2019).
In-store promotion
Advanced Energy Programs for Energy Conservation also focuses on in-store promotions for appealing to the customers, and boosting sales as well as raising brand awareness and profile of its offerings (Baines, Fill, & Rosengren, 2017). For Advanced Energy Programs for Energy Conservation, the in-store promotions include offering price discounts, loyalty points, and flash sales for its products. In addition, the company also invests in building up the POS within the store locations (Stead & Hastings, 2018; Groucutt & Hopkins, 2015).
Social media marketing
One of the more contemporary forms of marketing and promotion for Advanced Energy Programs for Energy Conservation includes social media marketing. The company has an official presence and profiles on social media platforms such as Facebook and Instagram, and regularly uses these platforms to promote its offerings, and product features and characteristics (Stead & Hastings, 2018). In addition, these platforms are also used by Advanced Energy Programs for Energy Conservation to inform consumers about using sales and discounts to increase in-store footfall.
Traditional advertising
The Advanced Energy Programs for Energy Conservation continues to use traditional marketing tactics and promotional platforms as well – largely for mass marketing purposes. The company especially focuses on TV advertisements, ad print media advertising for this purpose (Išoraitė, 2016; Iacobucci, 2021).
TV
TV advertisements are generally placed in prime time for higher visibility and reach by Advanced Energy Programs for Energy Conservation. The TV advertisements use functional as well as emotional appeals to communicate the message of the Advanced Energy Programs for Energy Conservation to the audiences (Iacobucci, 2021; Stead & Hastings, 2018).
Print media and advertisements are published in newspapers and magazines – both of which are generally consumed in high proportion by the broader target audience of the Advanced Energy Programs for Energy Conservation (Chernev, 2018; Iacobucci, 2021; Stead & Hastings, 2018).
Radio
The Advanced Energy Programs for Energy Conservation also places advertisements on the radio to appeal to a segment of the target population. The radio communications by the Advanced Energy Programs for Energy Conservation are usually shorter and focus on functional appeal only (Park, 2020; Išoraitė, 2016; Groucutt & Hopkins, 2015).
Integrated marketing communications
The advertisement and promotional messages by Advanced Energy Programs for Energy Conservation for all mediums and channels however are built on an integrated plan, and ensure that they reflect messages and communication that is similar to the overall campaign to void confusion and discrepancies (Gillespie & Swan, 2021; Kotler & Keller, 2021). The use of integrated marketing and integrated media has allowed the Advanced Energy Programs for Energy Conservation to build strong relations with the consumers through prompting conversations and discussions directly with them (Deepak & Jeyakumar, 2019; Sahaf, 2019; Stead & Hastings, 2018).
Conclusion
The 4p model or the marketing mix is an important aspect of brand building and development for the Advanced Energy Programs for Energy Conservation and significantly guides the company in the chalking out of its strategic marketing goals and plans. The marketing mix model or the 4P model has helped the Advanced Energy Programs for Energy Conservation in increasing its products’ and services’ reach and penetration and witness high levels of expansion and growth. The model has also led Advanced Energy Programs for Energy Conservation towards a better understanding of its target audience and consumers. This understanding, in turn, has fostered strong emotional relations and increased loyalty on part of consumers towards the company – leading to an overall increase in the brand value and brand equity, as well as higher levels of brand affiliation, brand awareness, and brand recall. Together, the marketing mix has helped the company boost its sales and revenue by aligning its offerings with the needs and demands of the consumers, and the market more effectively and efficiently.
References
Abratt, R., & Bendixen, M. (2018). Strategic marketing: Concepts and cases. New York, United States: Routledge.
Baines, P., Fill, C., & Rosengren, S. (2017). Marketing. New York, United States: Oxford University Press.
Chernev, A. (2018). Strategic marketing management. Berlin/Heidelberg, Germany: Cerebellum Press.
Deepak, R., & Jeyakumar, S. (2019). Marketing management. New Delhi, India: Educreation Publishing.
Gillespie, K., & Swan, K. (2021). Global marketing. New York, United States: Routledge.
Grewal, D., & Levy, M. (2021). M: marketing. New York, United States: McGraw-Hill Education.
Groucutt, J., & Hopkins, C. (2015). Marketing. London: Macmillan International Higher Education.
Iacobucci, D. (2021). Marketing management. Boston, Massachusetts, United States: Cengage Learning.
Išoraitė, M. (2016). Marketing mix theoretical aspects. International Journal of Research-Granthaalayah, 4(6), 25-37.
Kareh, A. (2018). Evolution of the four Ps: Revisiting the marketing mix. Retrieved June 2022, from https://www.forbes.com/sites/forbesagencycouncil/2018/01/03/evolution-of-the-four-ps-revisiting-the-marketing-mix/
Khan, M. (2014). The concept of ‘marketing mix’and its elements. International journal of information, business and management, 6(2), 95-107.
Kotabe, M., & Helsen, K. (2020). Global marketing management. Hoboken, New Jersey, United States: John Wiley & Sons.
Kotler, P., & Keller, K. (2021). Marketing Management (15th global edition). London, United Kingdom: Pearson Education Limited.
Kucuk, S. (2017). Marketing and Marketing Mix. In Visualizing Marketing (pp. 3-7). London, United Kingdom: Palgrave Macmillan.
Park, S. (2020). Marketing management (Vol. 3). Retrieved June 2022, from https://books.google.com.pk/books/about/Marketing_Management.html?id=p6v7DwAAQBAJ&redir_esc=y
Sahaf, A. (2019). Strategic marketing: Making decisions for strategic advantage. New Delhi, India: PHI Learning Pvt. Ltd.
Stead, M., & Hastings, G. (2018). Advertising in the social marketing mix: getting the balance right. In Social Marketing (pp. 29-43). London, England: Psychology Press.
Varadarajan, R. (2015). Strategic marketing, marketing strategy and market strategy. AMS review , 5(3), 78-90.
Wu, Y., & Li, E. (2018). Marketing mix, customer value, and customer loyalty in social commerce: A stimulus-organism-response perspective. Internet Research., 28(1), 74-104.
Related Article
- PESTEL Analysis of Advanced Energy Programs for Energy Conservation
- Hofstede Cultural Model of Advanced Energy Programs for Energy Conservation
- Net Present Value (NPV) Analysis of Advanced Energy Programs for Energy Conservation
- Corporate Social Responsibility of Advanced Energy Programs for Energy Conservation
- Advanced Energy Programs for Energy Conservation Discounted Cash Flow (DCF) Analysis
- VRIO Analysis of Advanced Energy Programs for Energy Conservation
- Advanced Energy Programs for Energy Conservation Case Solution
- Marketing Strategy for Advanced Energy Programs for Energy Conservation
- Blue Ocean Strategy of Advanced Energy Programs for Energy Conservation
Latest Feedback
Austin John
Verified
First experience was excellent with them, so I always land on this service and improve the grades.
Cody Lachlan
Verified
Nice service! Thanks to this company because it brought me to success. Thank you so much!
Matteo Braulio
Verified
I am super happy with what I received from this service. Highly recommended!
Nelson Zeo
Verified
I got above 80% marks. I'll absolutely refer this service to all my friends. Thanks!
Penni Sagar
Verified
I’ve worked a few times with this service and it used to send a useful paper to me. Highly recommended!
Emily Josh
Verified
Writer took my advice seriously when I shared points with respect to the dissertation. I'm well pleased to have a service like this. Thanks a lot!
Calculate the Price of Your Order
Next Article
- Yancoal: The Saskatchewan Potash Question Marketing Mix
- BP: Beyond Petroleum? Marketing Mix
- Bougainville Copper Ltd. (D) Marketing Mix
- The Offshore Drilling Industry in 2011 Marketing Mix
- Germany's Green Energy Revolution Marketing Mix
- Environmental Compliance at Suncor Energy's Firebag Facility Marketing Mix
- DONG Energy: Clean and Reliable Energy Marketing Mix
- Bougainville Copper Ltd. (Condensed) Marketing Mix
- eStore at Shell Canada Limited Marketing Mix
- The Pacific LNG Project Marketing Mix
Previuos Article
- Making the Case Marketing Mix
- Joe Smith's Closing Analysis (B) Marketing Mix
- Joe Smith's Closing Analysis (A), Spanish Version Marketing Mix
- GMAC: The Pipeline Marketing Mix
- On Writing Teaching Notes Well Marketing Mix
- Exxon Corp.: Trouble at Valdez Marketing Mix
- Ashland Oil, Inc.: Trouble at Floreffe (A) Marketing Mix
- Ashland Oil, Inc.: Trouble at Floreffe (B) Marketing Mix
- Ashland Oil, Inc.: Trouble at Floreffe (C) Marketing Mix
- Ashland Oil, Inc.: Trouble at Floreffe (D) Marketing Mix
Be a great writer or hire a greater one!
Academic writing has no room for errors and mistakes. If you have BIG dreams to score BIG, think out of the box and hire EssayPandas with BIG enough reputation.
Our Guarantees
- Quality assured
- Proof of no plagiarism
- Qualified writers
- Data security
- 24/7 support
- On time delivery
Interesting Fact
Most recent surveys suggest that around 76 % students try professional academic writing services at least once in their lifetime!
Order Now