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| media content used for social interactions such as youtube, twitter, facebook. |
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| 4E framework for social media: |
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Excitement
Education
Experience
Engagement |
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Use of social media to excite customers about a brand, idea, product, or company
Offer must be relevant to its target customers
Hashtag campaigns on twitter. |
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A method to develop a sustainable competitive advantage
Educate customers about its value proposition and communicate the offered benefits. |
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| Experience the product or Service: |
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Sampling a song, month free software, etc.
Creating blogs / review pages |
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With engagement comes action, the potential for a new relationship, and long time customer.
Positively engaged customers tend to be more profitable consumers, purchasing 20 to 40 percent more than less engaged customers |
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| Categories of Social Media |
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Social Networking sites:
Media Sharing Sites:
Thought Sharing Sites:
(blogs; corporate, professional, personal, mirco) |
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Excellent way to create excitement
More than 1.4 billion active facebook users give companies a forum for interacting with their fans.
Example: forever 21 facebook page ( customers like page and create a huge multiplier effect)
More than 12 million of Linkedins users are small business owners making it an excellent resource for entrepreneurs
Google+, not as interacting but often used to share social media. |
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Youtube, 1 billion unique members monthly, share videos and ad’s based on clicks
Instagram 300 million customers, can upload photos to carious sites ( not just IG)
Flickr, some innovative companies have found ways to engage with customers such as hosting picture posting competitions |
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| (blogs; corporate, professional, personal, mirco)Companies educate and engage by providing product information, and providing a platform for two-way communication |
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| a web page that contains periodic posts; corporate blogs are a new form of marketing communications |
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a website created by a company and often used to educate customers ( highest control, can control content posted on them)
Corporate blogs illustrate the importance of engaging customers around the core brand tenets without being overly concerned with a hard sell. *Wegmans* |
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Websites written by a person who reviews and gives recommendations on products and services
Blogs educate and engage users, and enhance their experience with products and services being discussed. |
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| website written by a person who receives no products or remunerations for his or her efforts. ( less control in marketplace) |
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| differs from a traditional blog in size. Consists of short sentences, short videos, or individual images. Twitter is an example of a micro blog. |
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| customers visit a store to touch, feel and even discuss a product's features with a sales associate, and then purchase it online from another retailer at a lower price. |
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| Seven Primary Motivations for Mobile App Usage: |
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Me time; seek relaxation & entertainment 46% ( candy crush, netflix )
Socializing; interacting with other people 19% ( facebook, twitter )
Shopping; seeking a product or service ( amazon)
Accomplishing; managing finances health and productivity 11% ( my fitnesspal)
Preparation; planning for upcoming activities 7% (google calendar)
Discovery; seeking news and information 4% ( cnn )
Self expression; participating in hobbies and interests 1% ( tapatalk) |
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Ad supported apps: apps that are free to download, but place ads on the screen when using the program to generate revenue.
Freemium app: Apps that are free to download but include in-app purchases
In-app purchases: when a game or app prompts or allows customers to make small “micro purchases” to enhance an app or game.
Paid App: Apps that charge the customer an up-front price to download the app ($.99 is the most common) but offer full functionality once downloaded.
Paid Apps with in-app purchase: Apps that require the consumer to pay initially to download the app and then offer then ability to buy additional functionality.
Research has shown freemium to be the most successful thus far. |
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| Social Media Engagement Process |
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Definition
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| Listening to what customers have to say on social networks, blogs, review sites, etc. |
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| a technique that allows marketers to analyze data from social media sites to collect consumer comments about companies and their products. |
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| 3 main categories used to understanding data collected from social media: |
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| amount of traffic using their sites, visiting their blogs, or tweeting about them. |
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| Measures Used:( social media engagement process) |
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Hits ( total requests for a page)
Visits to a particular site or page
Unique visitors to the site
Page views ( the number of times any page gets viewed by any visitor) |
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| the percentage of times a visitor leaves the website almost immediately, such as after viewing only one page. |
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| shows how users proceed through the information on a website- not unlike how grocery stores try to track the way shopper move through their aisles |
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| percentage of consumers who buy a product after viewing it. |
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| an evaluation of what keywords people use to search on the internet for their products and services. |
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| "do" ( social media engagement process) |
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Definition
Identify strategy & goals ( increase awareness to product? More facebook likes?)
identify target audience ( target based on gender, location, etc)
Campaign ( strong eye catching images, and appeal to the right customers)
develop budget ( daily budgets, per clicks)
monitor and change ( review success, view metrics and reports such as audience demographics) |
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| refers to the moral or ethical dilemmas that might arise in a business setting ( underpaying employees= bad ethics) |
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| refers to those ethical problems that are specific to the domain of marketing. ( continuous and dynamic process ) |
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| a representation, omission, act, or practice in an advertisement that is likely to mislead consumers acting reasonably under the circumstances. |
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| Corporate social responsibility (CSR) |
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| refers to the voluntary actions taken by a company to address the ethical, social, and environmental impacts of its business operations and the concerns of its stakeholders ( donations, charities) |
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| Ethical Decision Making Framework: |
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Identifying issues: ( ex: misuse of collecting info from consumers)
Gather information and identify stakeholders: facts important to the issue
Brainstorm and evaluate alternatives: brainstorm course of action
Choose a course of action: generate the best solution for the stakeholders, using ethical practices. |
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Include ethical statements in the firm's mission or vision statements
( newman own story) |
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| Implementation Phase in Ethics |
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When firms are identifying potential markets and ways to deliver the 4 p’s to them, firms must consider several ethical issues
Once a strategy is implemented, control must be in place to be certain that the fir, has actually done what it has set out to do. |
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| Managers must be evaluated on their actions from an ethical perspective |
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| Examples of Corporate Social Responsibility |
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| Corporate charitable foundations, supporting and associating with existing nonprofit groups, supporting minority activities |
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Employees ( employees and their families): make the workplace a nice place to work by incorporating good ethics
Customers (current and potential): donating to charities in trend ( kids, health, etc.)
Marketplace(partners and competitors): addressing issues such as global warming, electric) forces companies to adopt more responsible practices
Society (community/environment): companies can’t ignore societal demands for them to act responsible. |
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| sustainable actions includes sustainable marketing. |
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| Understanding the marketing environment: |
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Consumers (circle)
Immediate environment (triangle) company, corporate partners, competition
Macroenvironment (hexagon) culture, demographics, social, technology, economic, political/legal. |
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Company competency ( existing knowledge, facilities, patents >> applied to new markets, new products)
Competition ( know strengths & weaknesses, proactive rather than reactive strategy)
Corporate Partners ( firms are apart of alliances, align with competitors suppliers, etc., just in time delivery service) |
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| Microenvironmental Factors: |
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Culture
Demographics
Social Trends
Technological Advances
Economic Situation
Political/Regulatory Environment |
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| Country culture vs. Regional Culture. |
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| information about the characteristics of human populations and segments, especially those used to identify consumer markets such as by age, gender, income, and education. |
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a group of people of the same generation , similar purchase behaviors because of shared experiences in the same stage of life.
Baby boomers(1946-1964) Gen X (1965-1976) Gen Y(1977-2000) GenZ(2001-2014) |
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Health and Wellness Concerns
Greener Consumers
Privacy Concerns |
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| exploiting a consumer by disingenuously marketing products or services as environmentally friendly, with the goal of gaining public approval and sales. |
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| involves a strategic effort by firms to supply customers with environmentally friendly merch |
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Technology has impacted every aspect of marketing
New products, new forms of communication, new ways to pay, new retail channels |
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Affects the way consumers buy merchandise and spend money, both in a marketers home country and abroad.
Major factors that influence that state of an economy include that rate of inflation, foreign currency exchange rate, and interest rates. |
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| increase in price and goods |
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| these represent the cost of borrowing money |
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| Foreign currency fluctuations |
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| changes in the value of a country's currency relative to the currency of another country |
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| Political/Regulatory Environment |
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| Comprises political parties, government organizations and legislation and laws. |
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