Introduction
Over the past years, marketing has become a critical operational function in business entities. In other words, this development has come directly following the acknowledgment that conventional business practice strategies are not significant in the cutting-edge business environment of the modern-day market. For quite a while, leadership in these business entities should have noticed the part of marketing. It paid much emphasis on developing and producing tangible goods and effective services. Nonetheless, in the ongoing day business world where competition is a significant determinant of the adaptability of a product by the consumer base, promoting has turned into an unavoidable utilitarian area of most business entities. The significance of marketing is that the company’s different offerings, services, and products availed by the business entity should be introduced to prospective buyers. In addition, because of the accessibility of competitor products and substitute goods in the market, marketing is vital in order to assist with promoting goods and services to consumers. Thus, Marketing in this manner takes various structures, and the last point of any marketing mix is to ensure the products being promoted get embraced by the prospective buyers. The outcome of a marketing mix and resulting promoting activities are decided by the expansion in how much sales have been generated from the process. Thus, this essay will expound on the marketing mix strategy applied by One NZ concerning pricing, distribution, product, branding, and ethical consideration.
Product strategy
Product is one of the four principal components in the marketing mix concerned with the product itself. An organization’s product is the sole justification behind the presence of the organization. In addition, this is because it addresses the clients’ issues, needs, and preferences. There are different traits of a product that help in the marketing and promotion of the company. A marketer ought to have the option to deal with the product or service in such a way that it is pertinent to the buyers’ requirements and needs. One NZ offers various products and services in the telecommunication sector, From mobiles and fixed-line connections to a wealth of broadband and networking solutions; this includes Business Wireless Broadband, Business Broadband, Business Broadband and Calling, Rural Broadband, and Secure Internet.
On the other hand, One NZ Organization has figured out how to integrate this marketing component to have the option to accomplish some marketing objectives that help boost sales. One approach to managing their products and services is through the continual reinvention of readily available offerings, which ensures that the consumer base continues to appreciate and benefit from the products and services of their liking (Wisesa, Adriansyah & Khalaf, 2020, p 103). Similarly, the alternate way is by expanding the offerings’ life cycle. In other words, One NZ has figured out how to consistently re-design its product and services throughout the years, and this has offered much help in holding the brand visibility among the consumer base. On the other hand, the use of added elements and value can, in this manner, increase the product or service’s value resulting in a significant price rise to the company’s offering. For instance, offering an extended period of free technical support on another system for an SME would be a value-added feature. People can likewise enhance their administrations, like carrying progressed abilities into the labor force. On the other hand, customers are interested in mobile phones, broadband, and communication enhancement, for instance, with WebEx, secure access and backup for business, cloud services, and IoT asset management and connectivity.
Branding strategies
One NZ declared a critical development of its brand positioning strategy, strapline, and visual identity worldwide – the principal changes to one of the world’s most popular brands starting from the acquaintance of the ‘Power with you’ strapline in 2009. In other words, this strategy is to be executed across every one of the 36 countries in which One NZ avails products and services, and it is – is intended to underline One NZ’s conviction that new advances and computerized services will play a vital role in changing society and improving individual personal satisfaction throughout the years to come. Before the Coronavirus pandemic, the effect and reach of Digital and Social Media Brand positioning were getting taken note. Even today, with practically all of us glued to our mobile devices and investing a huge part of our daily lives in social media platforms, it would be silly of One NZ not to utilize digital and social media branding. Organizations should focus on building their Brand and presence in the digital world and invest in forming a reputable social media presence to support other business activities (Altangerel & Munkhnasan, 2019). There are multiple ways One NZ can do that, content creation with products, leveraging on E-commerce, and Sponsored Advertisements on their social platforms on YouTube, Instagram, LinkedIn, and Twitter, among others. One NZ inevitably understands the competitive advantage that comes with these digital tools to make their pitch early and gain an edge. One NZ has a distinct personality in that it has New Zealand’s first 4G LTE network provision and has continued to offer and maintain a good connection concerning the 2G network. Having an established brand community will benefit One NZ in a market that faces dynamic changes. An extremely helpful capability of laying out a brand community is having a pool of loyal target consumers. You can send new products for sampling and testing, a compelling method for getting consumer criticism about updated product lines, new products, and old products so that what is provided to end users is of maximum satisfaction and appropriate for the market.
Pricing Strategies
Pricing is another component of the Marketing Mix that helps set the product and service prices. Price is normally the variable that decides the consumers’ willingness and capacity to pay for the product or service. In this case, One NZ should have a pricing strategy that does not exploit the customers, subsequently frightening them from buying their products and service. Nonetheless, One NZ utilizes both skimming and penetration pricing strategy. One NZ product and service are sold at relatively lower costs than the contenders. Furthermore, this has been accomplished through the capacity to acquire economies of scale, subsequently having low production costs per unit (Zhang & Beltrán, 2020). One NZ has utilized a strategy in this space by having a recommended retail cost. This keeps that buyer from being taken advantage of by the retailers and keeps up with the consumer base’s certainty in the Brand.
Distribution Strategies
In this case, this is accomplished by utilizing advertising strategies and incorporating another marketing mix to persuade the buyers to buy the offered products or services. The most well-known distribution strategy applicable by One NZ is the push-pull strategy and the message and media technique as well. The push-pull strategy deals directly with the company promoting the product to retail outlets to ensure that their. On the other hand, the message and media distribution strategy deals with the manufacturing firm’s promotional activities separate from retailers intending to create demand for their products and services in the market (Hume, Luhring, & Wagner, 2020). One NZ has significantly utilized the message and media distribution strategy. Their products and services are advertised through various media, for example, on-air television ads and billboards. Moreover, this strategy has impacted One NZ’s marketing strategy since it significantly utilizes marketing as the key advertising movement for its product and service line.
Ethical consideration
Present-day consumers, workers, procurers, and financial stakeholders anticipate specific ethical standards. They progressively maintain that organizations should treat workers decently, morally, and sustainably. Thus, New Zealanders are becoming more mindful of the abuse and abuse of workers, particularly migrants, and do not want to engage with organizations that exploit their workers. Great work practices can affect consumer base goodwill, demand, and loyalty for a company’s goods and services. New Zealand had a crisis as some organizations mistreated workers; unlike One NZ, their employment and working conditions are favorable, thus making them appreciated and valued in the market. Based on The Prevention Principle, One NZ adopts a profoundly mindful strategy toward ethical decision-making since it explicitly connects circumstances with the conviction of adverse results. It observes the overall rule that ” prevention is better than cure,” in this manner, it should be expected and pre-empted, as opposed to experienced and settled later (Lee & Jin, 2019). In this case, the working conditions offered by One NZ are conducive to workers of all decent, and there is no exploitation and discrimination, making One NZ stand out.
Conclusion and recommendation
The significance of incorporating a market mix in the functions and operations of One NZ must be emphasized. When an organization has completely expressed the necessities of the Marketing mix, the marketing department needs to consolidate the client-centered marketing focus centered towards ensuring the market mix is applied effectively and that it serves the market effectively. These are the Product, price, channel, and Communication. When these variables are set up, the marketing strategy can be finished, and positive outcomes can be anticipated from applying such an approach.
References
Altangerel, U., & Munkhnasan, T. A. (2019). Relationships of brand image, customer satisfaction, and brand loyalty: in the case of the telecommunication sector. International Journal of Business Management and Economic Review, 2(03), 39-48. Retrieved from https://ijbmer.org/uploads2019/BMER_2_92.pdf
Hume, J. B., Luhring, T. M., & Wagner, C. M. (2020). Push, pull, or push–pull? An alarm cue better guides sea lamprey towards capture devices than a mating pheromone during the reproductive migration. Biological Invasions, 22, 2129-2142. Retrieved from https://link.springer.com/article/10.1007/s10530-020-02242-4
Lee, J. Y., & Jin, C. H. (2019). The role of ethical marketing issues in consumer-brand relationship. Sustainability, 11(23), 6536. Retrieved from https://www.mdpi.com/2071-1050/11/23/6536
Wisesa, O., Adriansyah, A., & Khalaf, O. I. (2020, September). Prediction analysis sales for corporate services telecommunications company using gradient boost algorithm. In 2020 2nd International Conference on Broadband Communications, Wireless Sensors and Powering (BCWSP) (pp. 101-106). IEEE. Retrieved from https://ieeexplore.ieee.org/abstract/document/9249397
Zhang, M., & Beltrán, F. (2020). A survey of data pricing methods. Available at SSRN 3609120. Retrieved from https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3609120
write