The Marygold Companies, Inc. (MGLD): Marketing Mix Analysis [11-2024 Updated]

In 2024, The Marygold Companies, Inc. (MGLD) showcases a dynamic marketing mix that highlights its diverse offerings and strategic positioning. With a variety of products spanning fund management, gourmet food, beauty, and security services, Marygold is poised for growth. The company's focus on competitive pricing and innovative promotion strategies, coupled with its global place in the market, illustrates a robust approach to capturing consumer interest. Dive deeper to explore how these elements come together to drive Marygold's success.

The Marygold Companies, Inc. (MGLD) - Marketing Mix: Product

Diverse range of products across multiple sectors

The Marygold Companies, Inc. (MGLD) operates through a diverse array of subsidiaries, offering products and services across various sectors, which include fund management, food products, beauty products, security systems, and financial services. This extensive product range positions MGLD to cater to different market segments effectively.

Fund management services through USCF Investments

USCF Investments, a subsidiary of MGLD, plays a pivotal role in the company's fund management services. For the quarter ended September 30, 2024, USCF reported revenue of $4.591 million, a decrease of 9% from the $5.049 million recorded in the same quarter of 2023. This decline was attributed to a decrease in average Assets Under Management (AUM), which averaged $3.1 billion in Q3 2024, down from $3.5 billion in Q3 2023.

Food products including gourmet items from Gourmet Foods, Ltd.

Gourmet Foods, Ltd. contributes significantly to MGLD's product offerings with gourmet food items. The revenue for food products reached $1.822 million in Q3 2024, up 5% from $1.730 million in Q3 2023. This growth was driven by an increase in the printing segment of the business, although the bakery division experienced a decline.

Beauty products marketed under Original Sprout brand

The Original Sprout brand, specializing in beauty products, reported revenues of $597,000 for Q3 2024, a 23% decrease from $775,000 in the prior year. This decline was largely due to efforts to control discounted pricing from online resellers and a strategic shift to enhance retail presence.

Security systems provided by Brigadier Security Systems

Brigadier Security Systems reported revenue of $690,000 for Q3 2024, reflecting a 25% increase compared to $554,000 in Q3 2023. The growth was driven by increased sales to commercial customers and a focus on higher-margin installations.

Financial services through Marygold US and Marygold UK

The financial services segment, encompassing Marygold US and Marygold UK, generated $210,000 in revenue for Q3 2024, marking a 65% increase from $127,000 in Q3 2023. This growth was primarily due to contributions from Step-By-Step Financial Planners, acquired in April 2024.

Recent acquisition of Step-By-Step Financial Planners to enhance service offerings

The acquisition of Step-By-Step Financial Planners for $1.2 million has strengthened MGLD's financial services offerings. As of September 30, 2024, Step-By-Step managed assets totaling $80.1 million, enhancing the overall asset base and service capabilities of Marygold UK.

The Marygold Companies, Inc. (MGLD) - Marketing Mix: Place

Corporate Headquarters in Walnut Creek, California

The Marygold Companies, Inc. is headquartered in Walnut Creek, California. This location serves as the central hub for its various operations and subsidiaries, facilitating management and strategic decision-making.

Food Products Manufactured in New Zealand

Marygold's food products are produced by Gourmet Foods, Ltd., which operates out of Tauranga, New Zealand. The principal manufacturing facility is located in Napier, New Zealand. For the quarter ended September 30, 2024, revenue from food products was reported at $1.822 million, reflecting a 5% increase compared to the previous year.

Security Services Offered in Canada with Operations in Regina and Saskatoon

Brigadier Security Systems, a subsidiary of Marygold, provides security services in Canada, specifically in Regina and Saskatoon, Saskatchewan. For the quarter ended September 30, 2024, this segment reported an increase in revenue to $690,000, a 25% rise from $554,000 in the same quarter of 2023.

Beauty Products Distributed Through Online Platforms and Retail Stores

Marygold's beauty products, marketed under the brand Original Sprout, are distributed through various channels including online platforms and retail stores. Revenue from beauty products for the quarter ended September 30, 2024, was $597,000, a decrease of 23% from the previous year's $775,000. This decline is attributed to a strategy aimed at controlling discounted pricing through authorized resellers.

Financial Services Operating in the U.S. and U.K. Markets

The financial services segment includes operations in both the U.S. and the U.K. Marygold US has launched a mobile banking fintech app, generating minimal revenue since its soft launch in June 2023. For the quarter ended September 30, 2024, this segment earned $210,000, up from $127,000 in the same quarter of 2023, marking a 65% increase.

Expansion into International Markets Through Strategic Acquisitions

Marygold is actively pursuing expansion into international markets through strategic acquisitions. Notably, the acquisition of Step-By-Step Financial Planners Limited in April 2024 is expected to enhance their presence in the U.K. financial services sector. The agreed purchase price for this acquisition was $1.2 million.

The Marygold Companies, Inc. (MGLD) - Marketing Mix: Promotion

Marketing efforts aimed at increasing brand awareness for beauty products.

The beauty products segment, under Kahnalytics, Inc. (doing business as “Original Sprout”), reported revenues of $597,000 for the quarter ended September 30, 2024, down from $775,000 in the same quarter of 2023, reflecting a decrease of approximately 23%. This decline is attributed to the company's strategic decision to control discounted pricing through authorized resellers.

Focus on digital marketing for Fintech application launch.

Marygold US soft-launched a mobile banking fintech app in June 2023, generating minimal revenues to date. The app is designed to earn revenue through management fees based on account holder funds and transaction fees. As of September 30, 2024, Marygold US incurred an operating loss of $1.4 million related to the app's development and marketing expenses.

Reduced marketing expenses by 31% for strategic financial management.

For the quarter ended September 30, 2024, Marygold Companies reduced its marketing and advertising expenses to $669,000, down from $972,000 in the same quarter of 2023, resulting in a reduction of approximately 31%. This strategic cut is part of broader efforts to manage costs amid declining revenues across various segments.

Utilize social media and online campaigns to reach broader audiences.

Marygold Companies has focused on enhancing its online presence through social media engagement and targeted online campaigns to increase brand awareness and reach a wider audience. This digital approach aims to attract more customers to both its beauty products and fintech applications.

Emphasis on maintaining product quality to enhance customer loyalty.

The company emphasizes maintaining high product quality, especially in its beauty products, to foster customer loyalty. Despite the revenue decline in the beauty segment, the company aims to reposition its products on retail shelves and improve distribution strategies.

The Marygold Companies, Inc. (MGLD) - Marketing Mix: Price

Competitive pricing strategy across all product lines

The Marygold Companies, Inc. employs a competitive pricing strategy across its diverse product lines, which include fund management, food products, beauty products, and security systems. For the quarter ended September 30, 2024, total revenue was reported at $7.91 million, a decrease of 4% from $8.24 million in the same quarter of 2023. This revenue includes:

• Fund management: $4.59 million
• Food products: $1.82 million
• Beauty products: $0.60 million
• Security systems: $0.69 million
• Financial services: $0.21 million

These figures reflect the company's focus on maintaining market competitiveness while addressing customer needs.

Fund management fees based on assets under management (AUM)

Marygold’s fund management fees are structured based on a percentage of assets under management (AUM). For the quarter ended September 30, 2024, the average AUM was $3.1 billion, down from $3.5 billion in the prior year. This decline in AUM resulted in a 9% decrease in fund management revenue, illustrating how fluctuations in AUM directly impact the company’s revenue generation.

Adjustments in pricing for beauty products to control discounts

The beauty product segment has seen a 23% decline in revenue, dropping from $0.775 million in Q3 2023 to $0.597 million in Q3 2024. To manage this decline and control discounts, Marygold has adjusted its pricing strategy, focusing on maintaining perceived value while reducing promotional markdowns.

Monitoring of pricing strategies in response to market fluctuations

Marygold actively monitors its pricing strategies in response to market fluctuations and economic conditions. The company has noted that external factors such as commodity price volatility and high-interest rates have influenced its pricing tactics, particularly in the fund management segment. Continuous evaluation allows Marygold to adapt and respond effectively to changes in market demand.

Strategic pricing for security systems based on service level agreements

For its security systems division, pricing is strategically set based on service level agreements (SLAs) with clients. Revenue from security systems increased by 25%, rising from $0.554 million in Q3 2023 to $0.690 million in Q3 2024, indicating a successful pricing strategy that aligns with service delivery expectations and customer satisfaction.

In summary, The Marygold Companies, Inc. (MGLD) showcases a well-rounded marketing mix that emphasizes its diverse product offerings and strategic positioning across various markets. With a focus on digital promotion and a commitment to quality, MGLD is poised to enhance its brand presence while maintaining competitive pricing strategies. As it continues to expand its reach through international markets and targeted acquisitions, the company is well-equipped to navigate the evolving landscape of its industry.

Updated on 16 Nov 2024

Resources:

1. The Marygold Companies, Inc. (MGLD) Financial Statements – Access the full quarterly financial statements for Q1 2025 to get an in-depth view of The Marygold Companies, Inc. (MGLD)' financial performance, including balance sheets, income statements, and cash flow statements.
2. SEC Filings – View The Marygold Companies, Inc. (MGLD)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.