Improving Brand Value and Lowering Production Costs for a Steel Company with a Marketing Mix Analysis | A Quantzig Success Story
LONDON--(BUSINESS WIRE)--Sep 26, 2018--Quantzig, a pure-play analytics solutions provider, has announced the completion of their latest . A leading steel manufacturer, wanted to improve the pricing of their end products and identify and analyze the factors affecting brand growth. In a bid to improve their processes, the steel company undertook an initiative which greatly impacted the pricing of their finished end-products. The client, by leveraging Quantzig’s analytics capabilities, wanted to implement a precise marketing strategy to overcome their challenges.
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Marketing Mix Strategy for a Leading Steel Industry Firm. (Graphic: Business Wire)
“ The initial phase of this engagement revolved around the identification of key marketing mix elements for which our experts adopted a quantitative analytic approach for analyzing the collected data,”says an expert from Quantzig.
To increase the annual turnover, it is important for every organization to understand and implement the right marketing mix strategy. There are four prime factors playing a major role in developing the right marketing mix strategy. These factors include – Product, Pricing, Promotion, and Place. Each of these factors when implemented strategically, give rise to a solid marketing mix strategy, which plays a very crucial role in brand development. Marketing mix elements play a very important role in securing a strong brand position in the landscape globally. Hence, players in the steel industry must focus on all key aspects while building a marketing mix strategy that favors brand development. A better understanding of these factors will help attain a better growth in terms of revenue, thereby, aiding in development of brand.
During the course of this engagement, the client was able to gain in-depth insights into the key elements that were greatly affected by the industrial developments undertaken by them. Also, with the aid of Quantzig, the steel company realized that ‘price’ was the key marketing mix element that had the highest influence on their developmental processes.
Marketing mix strategy benefits for the client:Identified the key reasons affecting their brand value. Gained in-depth insights into the key elements that were greatly affected by the industrial developments undertaken by them. To know more about the benefits of marketing mix strategy,
This marketing mix strategy offered predictive insights on:Assessing the impact of factors influencing prices of the finished steel products. Implementing a precise marketing strategy to overcome the challenges. To know more about our engagement models and pricing plans,
View the complete marketing mix strategy engagement here:
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on all of Quantzig’s services and the solutions they have provided to Fortune 500 clients across all industries, please contact us.
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INDUSTRY KEYWORD: MANUFACTURING STEEL COMMUNICATIONS MARKETING
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PUB: 09/26/2018 09:32 AM/DISC: 09/26/2018 09:32 AM