Strategic marketing entails that an organization utilizes its resources in adapting with the changes in the marketing environment in which it operates. For an organization to gain competitive advantage and curve a niche over its rivals it need to cultivate and implement a niche marketing strategy that would make it capture consumers to its products in the mist of other competitive goods. In an ever increasing competitive global business arena, the need to strategies and be in tune with current trends in an industry where an organization operates, this is very germane to the success level the organization would attain. Strategic marketing entails that the organization carries out an effective planning that would coordinate the whole marketing operates of the organization and make it adapt to its environment through effective utilization of available resources. Thus, the different marketing strategies; pricing strategy, distributive strategy, promotional strategy, sales strategy, product creation and branding strategy, among others, these are synchronize in meeting the marketing objectives of the organization. The strategic marketing and management pattern goes to reflect the structure of the organization. One strategic marketing pattern adopted in contemporary times is niche marketing.
Niche Marketing Concept
Niche marketing is a marketing concept where a producer tries to differentiate his/her product from what is obtainable from the industry in which it operates. Niche marketing cuts across every industries and it is operational when an organization exhibit a product differentiation strategy, in order to make its product unique in quality, branding, taste, size and shapes. In this regards, Fuduric, et al (2005, pg 3) defines niche marketing as “a marketing scheme designed to distinguish a product from its competition, in regards to products elements such as taste or freshness, inter-alia. This is done with the motive to increase consumer product awareness and demand”.
Producers of goods use niche marketing to catch those opportunities that exist in the industries they operate, as the uniqueness and quality of the niche catcher’s product would be attractive to consumers. The product uniqueness increases consumers’ awareness of the product. For example in the agricultural industry, such professionals that grows cash crops or engage in fish farming have ways of branding their product in such as a way that would differentiate their product from others engaging in the same product production. Examples of such thriving niche marketing in the agriculture industry include the producer of certified Angus beef and Mississippi catfish.
As earlier stated niche marketing is applicable to different industries, be it in agriculture, confectionaries, electronic, automobiles, fashion, among others. Where there exist competition for products in an industry, niche marketing is applicable for gaining market opportunity, and curve greater advantage over market competitors.
Niche marketing, also deals with product value build up, alongside with product differentiation. The producer using niche marketing should be ready to add more value to the organization product in order to give it that unique quality that attracts consumers to it. Branding and labelling plays significant role in niche marketing.
The branding of a product goes a long to determine the first impression that consumers would form concerning such product. Thus, the appeal attached to a product is contributed through branding and the product’s quality.
In creating niche market, the producer, apart from laying emphases on the product’s quality, as demanded by consumers, need to adopt methods that would enhance the product’s production, and structure channel marketing that would give the product its regional identity. When this is done, the advantages associated with niche marketing would be attained. Those advantages associated with niche marketing include the following:
Niche marketing gives uniqueness associated with a product, thus differentiating it to enable producers earn more;
It creates avenue for product rearrangement in a food chain structure, in order to discover more appropriate ways of product distribution to bypass intermediaries;
Niche marketing also, intensifies the communication bond between the producer and consumers of the products. Those salient qualities the consumers desire would be easily communicated to the producer as a way of improving the quality of the product;
By satisfying the consumer through niche marketing, the producer stands to gain greater market share in the industry it operates.
In this era where consumers are becoming conscious to the effect products have on the environment, their choice and taste for products graves fro those with little or no harmful effect to the environment. Many consumers of fresh fruits and vegetables, seafood, among others, would prefer those produce with less chemical hazard causing substance. For instance, many consumer do not want organic products, they prefer those grown naturally. With this level of taste and awareness, a producer can make his product with in line with those tastes and wants the consumers’ desires. When this is done the process of niche marketing is enhanced.
Niche Marketing
A successive niche marketing strategy should be able to adequately utilize the organization’s resources in adapting to the business environment in which it operates. Here, through the strategic moves the organization is able to increase the sales level for the organization and customer patronage. In doing this, the organization’s strategy should be centred round the customers through its marketing mix. Here, strategizing should take acknowledgement of the product, place (distribution), the price, and promotional strategies in building a competitive base for the organization, through customer’s satisfaction. In this view, Oden (1997:3) argues that “many of today’s most successful organizations continue to survive because many years ago they offered the right product at the right time. Most product, market, and process venture decisions of the past were made without the benefit of strategic thinking or planning. However, present-day managers increasingly recognize that venture decisions must be made in the context of a venture strategy. As they find themselves in ever more complex and turbulent environments, their past internally oriented, reactive approach to decision making is giving way to an externally oriented proactive approach that requires more analysis”. Communication plays a significant role in contemporary marketing strategy, even more in an organization that adopts niche marketing strategy. Thus, for an organization to put up a good niche marketing strategy it must always communicate with consumer to know those changes they desire in its products, so as to keep them attracted to the product continually.
How Innocent Drinks Organization Has Adopted Niche Marketing In Its Product Enhancement
Innocent Drinks organization started operation in the production of drinks since 1998. The name ‘Innocent’ for the organization is derived to symbolize the organization’s products that are naturally made and unadulterated. “We call them innocent because our drinks are always completely pure, fresh, and unadulterated. Anything you ever find in an innocent bottle will always be 100% natural and delicious -and if it isn’t, get on the banana phone and make us beg for forgiveness” (Innocent Drinks, 2006). Innocent drinks organization involve in the production of drinks derived from its cow milk and fruit drinks. The organization has variety of brands of drinks, which are produced to give delight to its customers. The different range of the organization’s product range from smoothies; with brand for children and other varieties; superfoods; a natural smoothies produced for specific purpose such as when one feels tender; big carton smoothies for home keep and refrigeration. There is also thickies; probiotic yoghurt, and juicy waters containing juice and spring water all mixed up to make customers feel wonderful and satisfy.
Innocent Drinks has utilized the process of niche marketing in sustaining itself in the drink industry where it operates in European countries, and the United States.
The products of Innocent organization are produced in ways that consumers get the natural taste of the drinks they consume. Here, pure, fresh, and unadulterated drinks are produced in their quality form for customer’s satisfaction. The products are 100% pure of fruits or milk according to the different brands. Thus, customers are guaranteed that they are consuming hygienic, natural, and unadulterated drinks. Furthermore, the Innocent Drinks organization has different varieties of assorted smoothies, made of fruits and milk. The different brands of the organization are made to satisfy customers taste both young and old. The prices of the Innocent drinks are moderate and customer friendly. The drinks come in small bottled pack, which costs are affordable by all and sundry. Given the quality and pure unadulterated drinks consumers get from the Innocent drinks product range, they get the worth for their money. The strategy embarked by the Innocent organization where it recycle its products containers and bottles, this goes to reduce the cost of production of the organization’s product, hence, the price set for its products are low. “We are moving away from virgin finite materials to renewable materials, such as recycled plastic and plastic alternatives such as bottles made out of corn starch – a material known as Polylactic. To date, we have managed to get our plastic smoothie bottles to 50% recycled plastic (we’re working on the rest) and we have a corn starch, commercially compostable bottle due to launch in September 2006” (Innocent Drinks, 2006).
The distribution of the organization’s product is carried out through direct sales of the organization’s products to consumers by the aid of the organization’s cow van. The cow van helps to carry the organization’s product every nooks and crannies in the United Kingdom where it operates.
The promotion of the organization’s products is done through the strong brand it has built for itself. The cow van is easily recognized, and this serves as a medium of promoting the organization’s products as the vans engages in the distribution and sales of the organization varieties of drinks. The well-structured websites of the organization is another medium in which the organization promotes its ranges of products to a wider market in the international level.
All these 4 Ps of the organization’s strategic marketing are integrated to bring about the effective increase in sales of the organization’s products. Each of the strategies for product manufacturing, pricing system, promotion and distribution all are built in an integrated pattern to bring about the effective distribution of quality product at an affordable price to customers. Moreover, satisfaction of customers taste is the overall focus of the Innocent niche marketing strategies.
Reference
Fuduric, Joseph A., et al (2005) “Marketing Wild Caught South Carolina Shrimp: Lessons Learned from Agricultural Niche Marketing Programs” pp. 3
Innocent Drinks (2006) “The Innocent Foundation Organization”
Oden, Howard W. (1997) Managing Corporate Culture, Innovation and Entrepreneurship. Westport, CT: Quorum Books pp. 51
Rahmann, G., et al (2001) “Opportunities and Barriers for Niche Marketing of Lamb in
European LFAs Based on Consumer attitudes to Product Quality” pp. 42
The Impact of Web 2.0 on International Marketing Practices
This essay is about Web 2.0 and its impact on international market. Before going in detail we will see what actually Web 2.0 is. The Web 2.0 is basically a term that is used for describing a variety of different web sites along with different applications that mainly allow the users to create and at the same time share their online information or any material that they have created. One of the key elements of the technology since the beginning of time was that it allows the users to share what they create, collaborate and also actively communicate. The Web 2.0 specifically differs from the other types of websites due to the fact that it does not need any additional web designing or even publishing skills for participating and this makes it very easy for the people to create and also to publish and throughout the world (Thomson 2008).
To go in detail, the Web 2.0 is more commonly referred to as the second generation of World Wide Web and it is basically a set of tools allowing the people build up their personal social or business connection and share information along with collaboration of their project online. Its common features include wiki along with social- networking sites, online communities, virtual worlds and many others (Parise, Guinan & Weinberg 2008).
Since the emergence of the Internet back in the 1990’s, it has created tremendous global effects on mostly every human being, learning inclusive. In terms of globalization, it has stimulated a wide shift mainly in the traditional boundaries in terms of teaching and this has further broadened the act of education horizon greatly. At the end of 20th century, the gradual switching mainly from monopolistic (Web 1.0) to the democratic (Web 2.0) eventually stimulated radical changes most importantly in the fields of learning and teaching (Enobun 2010).
Like many new software, this new generation of Web 2.0 basically includes many new features along with many new functions that were not available during the past years. However, this Web 2.0 is not any specific version of Web, but it is rather a set of series of different technological improvements (Tech Terms, 2008).
The most remarkable contributions of Web 2.0 are listed here with further detail discussions later on. Firstly, there are blogs which are also known as the Web logs and these are mostly involved in allowing the users to post their thoughts, their updates and stories related to their lives on the web. Secondly, there are the Wikis. These are mostly the sites like Wikipedia and many others which enable the users from all across the world to write, add and update their content regularly. Thirdly, there are the social networking sites. Different sites like Facebook, Twitter and MySpace offer the users in building and customizing their own profiles and also to communicate with their friends situated all around the world (Tech Terms, 2008).
Web 2.0 Marketing
Fourthly, there are the web applications. These are a broad range of modern and new applications which makes it possible for the users that they run their desired programs directly in any of the Web browser. The fifth most important contribution is the podcasting. Podcasting is basically a way in which the users make audio or even video files that are available on the internet and which can either be listened or viewed on any portable PC or any hand-held devices like an iPod or any mp3 player. The sixth major contribution is content hosting services. The content hosting or better called as the content sharing sites mainly allow the users to upload their content and these mostly includes YouTube, Flickr, etc. The next major contribution can be the sites which allow online shopping and lastly sites which allow users to book their hotel rooms, their flights simply through internet and drop the idea of going personally.
To go in detail of the above mentioned contributions, there are many soft drink companies which use the internet fir their marketing. The company, which greatly relies on the internet for its local and international marketing, has eventually brought every Web 2.0 technology into play to gain more profit and customers. Until recently, many of its ‘social media’ steps and efforts have openly been engaged in different blogging sites. Most commonly, the companies own historians are making daily posts on their Coca-Cola Conversations blogs; which are mostly included in the virtual worlds as discussed above. The company also employs sites like Facebook and Twitter to increase their publicity by creating their own company’s page to increase consumers and fans.
Secondly, if we talk about social networking sites in detail, then in this paragraph we will discuss about Facebook. It is the most popular site of recent times mostly in terms of social networking that is included in the Web 2.0. It actively allows the users in creating their own personalized profiles; share their profiles with many other users with similar choices and tastes hence increase the act of social networking. Besides this, the user can also choose to create their own profiles and later on make them private or even public. Facebook is known to allow the users to post their photographs, their videos, articles, music, statuses and many other things. Moreover, some of the users can also find their close friends simply by typing their names in the search box (Swabey 2008).
In order to gain popularity, Facebook and the companies who seek to increase their marketing value should efficiently achieve the following objectives. Their pages should be visually very attractive, they should be easy-recognizable and most importantly they should post content regularly. The companies should actively advertise their pages to gain more fans and more supporters otherwise no one would know of the page. Thirdly, it is very important to communicate with the fellow followers in a well-mannered and in an appropriate way. The main reason behind this is that the users will be able to open themselves and also provide feedback to the company (Podobnik, Ackermann, Grubisic and Lovrek 2013).
Web 2.0 Marketing
There are many sports company which also uses social networking sites. An example of includes Nike. Like many other global brands, Nike also has a number of Facebook pages for their fans for each of its famous product categories, including the golf line, their shoes, cloths, snowboarding along with football. Nike also has its own famous official website which mainly includes all the important product categories where the consumers can easily search for their review content for instance such as the buyer’s feedback, the number of people who has already bought any particular product or even the list of the people who has viewed any particular item before they can decide what to buy and what not to. Similarly, the users can also click on the button that is present under each item and this tells the users which product is popular and which are not. This is mostly seen in the Facebook pages (Moth 2013).
Twitter is another example of Web 2.0 with its social media marketing sites and this is also very similar to the Facebook page. Here different companies can edit their own official Twitter profile along with their backgrounds mainly as the brand image promotion. Moreover, the associated administrator of the related company can also upload different Tweets which are only allowed up to 140 characters, and eventually every user can give their feedbacks in the form of replies and even follow them just as in the case of Facebook (Moth 2013).
Another major contribution as discussed above include sites like Media toolkit which is a very useful web service that was initially developed in Croatia and it enables only real-time discovery most commonly on the global scale for most of the popular as well as some of the shared content that mainly originates from web sites in which the user seems interested in. Additionally, this Media toolkit site also predicts which of the contents will become popular in the near time. It is a very common fact that the SNSs like Twitter, Facebook, LinkedIn and many others are known to influence the overall consumption of the news mainly on the web. So we should know that whatever is shared is also being read, thus this generates more traffic to the different web sites that are sharing friendly content (Podobnik, Ackermann, Grubisic and Lovrek 2013).
Another common example which lies under the contribution of Web 2.0 includes Foursquare which is a common location that is based in SNS with around more than 1 million brands and they are using it as their SMM channel. The most common difference between this and other social networking sites like Facebook and Twitter is that the users cannot exchange their status updates along with tweets about their day to day activities but they can only exchange information that is related to their current location by simply checking into those places. Although this feature is available in Facebook, many users still prefer this site. (Podobnik, Ackermann, Grubisic and Lovrek 2013)
If we look ahead, then this Web 2.0 used by different companies may be developing some hardy roots. Over around half of the companies all across the world still plan increasing their investments mainly in different Web 2.0 technologies just to increase their international value and to gain profit (Mckinsey 2009).
References
Thomson, H. (2008) What is Web 2.0 Technology? Wikis, Blogs & Web 2.0 technology, 1, 1-5.
Parise, S., Guinan, P. J., & Weinberg, B. D. (2008) The Secrets of Marketing in a Web 2.0 World.
Enonbun, O. (2010) Constructivism and Web 2.0 in the Emerging Learning Era: A Global Perspective. Journal of Strategic Innovation and Sustainability, 6(4), 17-25.
Swabey, P. (2008) Coca Cola stays young with Web2.0.
Podobnik, V., Ackermann, D., Grubisic, T., & Lovrek, I. (2013) Web 2.0 as a foundation for Social Media Marketing: global perspectives and the local case of Croatia. Cases on Web 2.0 in Developing Countries: Studies on Implementation, Application and Use.
Moth, D. (2013) How Nike uses Facebook, Twitter, Pinterest and Google+.
Mckinsey (2009) How companies are benefiting from Web 2.
Project Management Standardization Dissertation – Poor project performance has led to industry calling for Standardized Project Management tools, yet it is the organizations themselves who have chosen to overlook or ignore the tools while implementing organization strategy that exists for their assistance. This paper investigates the implications change management practices have on individuals as a result of strategy change, whilst challenging the poor Project Management knowledge and understanding of individuals within project based organizations.
It also identifies the currently poor application of Project Management theory including the alarming levels of academic qualifications many practicing Project Managers currently hold. The purpose of the dissertation was to explore this call for standardization by conducting a review of the knowledge, understanding and opinions of individuals regarding: change management implications of organization strategy implementation; and organizations? application of Project Management theory.
Project Management Standardization
However, while conducting the review, offering discussion points or arguments, it is important to recognize when talking about Project Management Standardization, it is not an exact science and there are several fundamental floors such as the theory is relatively abstract and many parameters are difficult to be measured as they are usually based upon the opinion of industry personnel with predetermined beliefs.
The aim of the dissertation was to identify and understand evolving management theory and how it aligns with organization strategy as it was believed that with such a large amount of capital being spent on projects, organizations did not place a high enough level of priority on Project Management processes or academic qualifications. Whether this is a result of ignorance, or just a pure lack of understanding of the implications on the behalf of executive level management, was the basis for discussion throughout the dissertation. Finally projects are aimed solely at either increasing profit in line with organizational mission requirements or increasing efficiency through productivity. So the dissertation is written with the intention of raising awareness to improve project performance and not just to highlight organizational short comings.
The dissertation aim is to investigate how evolving Project Management theory, organizational strategy and change management implementation and Project Management academic levels influence individual’s perceptions and actions within project based organizations.
To identify and introduce evolving management theory
To analyze the role that Project Management has within organizations strategic management processes
To investigate the level of understanding individuals within organizations have of Project Management processes
To investigate the academic levels of individuals within project based positions
Conduct a questionnaire based on the aims, objectives, and literature review formulating a strategic set of questions to challenge senior managers with an interview in relation to the concerning trends
If you enjoyed reading this post on standardization of project management, I would be very grateful if you could help spread this knowledge by emailing this post to a friend, or sharing it on Twitter or Facebook. Thank you.
Buzz marketing is defined as “thepromotion of a company or its products and services through initiatives conceived and designed to get the media and the public talking positively about that company, product or service”, according to Kirby and Marsden (2006, p.xviii). Buzz marketing involves word of mouth propagation of the products and services of the company through the “vibes” or the buzz created through other customers or a form of a campaign driven by customer hype, says Dye (2000). According to Carl (2006), though marketers knew the power of relationship based recommendations to be very powerful as a persuader of consumer decisions, the dimension of marketers “engineering” peer opinions in social networks is little understood. Therefore, the buzz can come from paid sources who muster up support for their opinions in their social circle or individuals who voluntarily express such opinions positive for the company and both the forms of communication can be included in buzz marketing (Carl, 2006).
The key enabler of buzz marketing is the influence the opinions of individuals have on other individuals known to them. “A third party is involved in the amplification of the initial marketing efforts of the company in his or her relational networks” (Thomas, 2004, p.64). Often, a company has loyal and disloyal customers, and the disloyal ones are more influential in spreading the buzz. The loyal customer already may have influenced his or her networks and the greatest impact for marketers lies in tapping the opinions of the disloyal customers (Carl, 2006). Therefore, the company need not rely on its own customer culture for the creation of the buzz, but can actively look for counter cultures, which can be real value additions to the campaign. This implies that not all individuals have the same level of ability to influence others. Therefore, the concern of marketers is to find the most influential set of people to create the buzz if it has to succeed in its campaign, be it its own set of customers or a group of individuals who have remained out of the influence of the marketer.
Apart from the people who spread the buzz, other factors aid in the success of the marketer. People cherish owning something that most others cannot. This must be used effectively by creating the urgency in influencing the customer decision. The endorsement of a celebrity can also trigger wide spread in buzz marketing, with the critical thing being how the celebrity is made to handle such a communication, according to Dye (2000). The author cites many examples, for instance, the books selected by Oprah Winfrey for her book club invariably become best sellers and publishers lobby to get their work featured by her.
Identifying the best sources that can start the buzz is crucial and the process of identification involves grouping customers according to their purchase behaviors (buzz marketing), understanding how each group influence the other groups, identifying the paths of influential communications through simulation and finding the strongest path and group, according to Dye (2000). The structured approach also dispels the myth that buzz cannot be planned and executed, but highly random.
One of the key approaches to creating buzz marketing strategy lies in getting the influential group of people or some individuals or an individual from the group to experience the product or the service of the company. If the company is right about the selection of the group, the buzz will be created invariably because of the Hawthorne effect; when people feel valued and feel an increase in their self-esteem in being the pioneers in using a product, goodwill is created (Kirby & Marsden, 2006). Buzz marketing can be peer-to-peer and performer-to-peer. While in the former, individuals voluntarily become brand ambassadors for the company, in the latter, the company uses carefully planned seeding into relational networks through rehearsed campaigns. Marketers can also launch covert buzz campaigns, where customers are not aware that they are being marketed to. But the downside is that when customers know that they have been part of a campaign, they may fee duped and this may lead to backlash for the company, according to Kirby and Marsden (2006).
The field of marketing has become so cluttered that customers view all marketing communications skeptically and the importance of buzz marketing comes from the fact that the concept relies on communications from non-marketing sources, which are perceived to be more trustworthy by customers, say Darke and Ritchie (2007). Therefore, when a message reaches the customer from a friend with the intent of convincing him about the superiority of a brand or a product, it is bound to be a sensitive issue in the ethical sense. While the receiver of the communication may place value on the opinion of the friend, the friend may be motivated by the financial and other benefits from the company (Petty & Andrews, 2008). Thus, buzz marketing poses a big ethical question on the marketing community – to what level can marketers legally invade the lives and relationships of individuals in a conscientious manner.
Buzz Marketing
According to research, the best way to ensure that the campaign is ethical is by being completely transparent to customers and the influencers in the initial stages of the campaign and that the credibility and the trustworthiness of the influencer were not negatively affected by disclosure of the affiliation of the latter with the marketing company (Creamer, 2005; Carl, 2006). Most covert communications happen to ensure the credibility of the influencer is not affected through any disclosure of benefits or affiliation to the brand or the product of the company. Such fears seem to be unfounded, considering the impact of any adverse reactions from customer who realize that they have been marketed to at a later stage.
The role of the internet in buzz marketing is being studied by marketers and the role of internet based social networking portals needs to be understood better. Though there is much hype about the potential of the internet in buzz marketing, the reality is that face-to-face interactions carry more influence compared to an online opinion from an acquaintance or a friend (Carl, 2006). But the potential of this media is very high, as the sophistication of social networking portals is increasing and the level of interactions which are happening between individuals at a great distance to each other physically is becoming higher (Kirby & Marsden, 2006). Therefore, the role of the internet cannot be ignored as the principal tool for buzz marketing in the future.
Corporate Reputation Management
According to the resource based view of management, organizations with valuable and rare tangible and intangible assets enjoy competitive advantage in the market and can be expected to yield superior returns. When the assets are not easily imitable by competition, the advantage of the company can be sustained for superior value creation and market dominance; corporate reputation is one such intangible asset that cannot be replicated by a competitor in the short term, according to Roberts and Dowling (2002). According to Fombrun and Riel (1997), it is relatively unexplored as a concept and its importance is realized only when it is threatened.
Corporate reputation is the collective opinion of the stakeholders of an organization based on its past record, according to Nakra (2000). Reputation management is about building and maintaining the repute of an organization and generating positive feedback or word of mouth. The reputation of a company not only impacts the ability of the company to sell its products, but also in securing investments, shareholder confidence, governmental support and hiring talented employees (Nakra, 2000). Once lost, it is very difficult to regain, says Winkleman (1999). This concept comes within the function of public relations and corporate communications, which concern how the organization is viewed by its different stakeholders (Nakra, 2000). While organizations have measures and checks and balances for the other performance parameters of the organization, including effectiveness, financial performance and other tangible factors, the factor of the reputation of the organization that aids in the achievement of the overall goals of the organization are not measured and grossly ignored (Nakra, 2000). This is critical for a robust buzz marketing campaign.
Reputation management for organizations is important due to the changing dimensions of product marketing, diverse communication channels, mergers and acquisitions and high levels of global activism against corporates, say Argenti and Druckenmiller (2004). As businesses go global, they face a number of public relations issues, in having to deal with a new culture and policy environment and this necessitates a good corporate reputation for the process to be smooth (Pinkham, 1998). Customer expectations from companies have also become more stringent, with more choices available. Customers base their decisions based on the level of information available about the company and the reputation of the company before committing to a deal (Nakra, 2000).
Reputation of organization arises from the past, where the actions and performance of the organization in various aspects determine the present reputation. Stake holders consider the performance and success enjoyed by the organization, especially the financial performance as an important indicator of the goodness of the organization, according to Roberts and Dowling (2002). In fact, the correlation between the financial success of the firm and its reputation can be very high. A reputed firm will be able to charge a premium for its products and services from the market. It also has the benefits of being able to attract and retain the best talent in the industry at the lowest possible costs among its competitors. It will be able to generate more value from its supply chain and thus be able to save costs, resulting in higher margins and realizations. Similar relationships are visible in the function of buzz marketing too; reputed organizations are able to sell more with a lower effort at the best prices, due to its superior products, better sales force, better channel partners and a number of other enablers, according to Dowling (2001). These are the views of the external world of the reputed organizations or the collective perception of the market or the society on the characteristics of the firm. This means that to manage reputation, organizations have to be critical of all their interactions with the stakeholders and society, as each of these interactions, from a product launch to a simple customer query have the potential to enhance or spoil the reputation of the company.
Buzz Marketing Reputation
The reputation of the organization is deeply embedded within the experiences of the employees of the organization and manifests itself as a dimension of the working culture. When an organization is reputed and this is part of the organizational perceptions of the managers in the company, the nature of their interactions with their employees and other stakeholders will be in the manner which safeguards the reputation, say Fombrun and Riel (1997). The culture of the organization is manifested in the behaviors and attitudes of the individuals and in their interactions with each other; the organizational reputation becomes an invisible part in the culture and influences it, according to the authors. Therefore, the actions of the individuals and their perceptions within the organization, or the internal identity of the organization is manifested to the external world by means of its corporate reputation (Fombrun & Rindova, 1996). The organizational culture, therefore, plays an important role in determining the reputation of the organization to the outside world, through its policies, stand on its role in society and its responsibility to the world and how these are perceived by the stakeholders.
The reputation of an organization cannot be managed if the perception of society is not considered in the picture. Corporate social responsibility (CSR) is a philosophy advocating that organizations have a moral responsibility in helping overall social development and uplift through strategic philanthropic activities, according to Carroll (1991). The sustainability of organizations depends on the environmental, social and financial sustainability (Wempe & Kaptein, 2002). The role of philanthropy and other social benefits in the development of the reputation of an organization cannot be ignored. Organizations sometime spend more on advertising their good work than doing the good work (Alsop, 2002). This has led people to view corporate philanthropy as designed for corporate gain in some covert fashion (Porter & Kramer, 2002). This can be potentially damaging to the reputation of firms. The social responsibility when met has to be advertized at the right levels of austerity. If this is not executed properly, either the organization will be accused of doing too little or of being too brash in its claims of being a caring social entity. Therefore, the CSR activities of organizations are an effective tool for the management of corporate reputation and buzz marketing.
References
Alsop, R. (2002). Perils of corporate philanthropy. Touting good works offends the public, but reticence is misperceived as inaction. The Wall Street Journal, 16 Jan 2002, Print Edition.
Argenti, P. & Druckenmiller,B. (2004). Reputation and the corporate brand. Corporate Reputation Review, Vol.6, No.4, pp.368-374.
Carl, W. (2006). Whats all the buzz about? Everyday communication and the relational basis of word of mouth and buzz marketing practices. Management Communication Quarterly, Vol.19, No.1, pp.601-634.
Carroll A.B. (1991). The pyramid of CSR: toward the moral management of organisational stakeholders. Business Horizons, July/August(1991), pp.39-48.
Darke, P. & Ritchie, R. (2007). The defensive consumer: advertizing deception, defensive processing, and distrust. Journal of Marketing Research, Vol.44(Feb), pp.114-127.
Dowling, G.R. (2001). Creating corporate reputations using buzz marketing. Oxford: Oxford University Press.
Fombrun. C & Riel, Van C. (1997). The reputational landscape. Corporate Reputation Review, Vol.1, No.1&2, pp.5-13.
Fombrun, C.J. & Rindova, V. (1996). Who’s Tops and Who Decides? The Social Construction of Corporate Reputations’, New York University, Stern School of Business, Working Paper.
Kirby, J. & Marsden, P. (2006). Connected buzz marketing: the viral, buzz and word of mouth revolution. Oxford: Butterworth-Heinemann. ISBN: 978750666343, 075066634X.
Nakra, P. (2000). Corporate reputation management: CRM with a strategic twist? Public Relations Quarterly, Summer(2000), pp.35-42.
Petty, R. & Andrews, C. (2008). Covert buzz marketing unmasked: a legal and regulatory guide to practices that mask marketing messages. American Marketing Association, Vol.27, No.1, pp.7-18.
Porter M.E. & Kramer, R.M. (2002). The competitive advantage of corporate philanthropy. Harvard Business Review, December 2002, pp.18-27.
Pinkham, D. (1998). Corporate public affairs: running faster, jumping higher. Public Relations Quarterly, Summer(1998), pp.33-37.
Roberts, P. & Dowling, G. (2002). Corporate reputation and sustained superior financial performance. Strategic Management Journal, Vol.23(2002), pp.1077-1093.
Thomas, G.M. (2004). Building the buzz marketing in the hive mind. Journal of Consumer Behaviour, Vol.4, No.1, pp.64-72.
Winkleman, M. (1999). The fickle finger of reputation. Chief Executive, Vol. 44, No.1, pp.79-86.
Wempe, J. & Kaptein, M. (2002). The Balanced Company: a Theory of Corporate Integrity. UK: Oxford Univ. Press.
Facebook Marketing Essay – Marketing in the current era is believed to take a different dimension to hit its target. With the fast growing technology in the current word professional marketers are widely relying on technology to promote and advertise their goods and services. For this initiative to perform comfortably they need to ensure that engaging customer interrelation by electronic means will work effectively and deliver the best result. When using technology or online marketing sometimes it does not seem to be real to customers and internet users, and they get to prefer television marketing which might be effective to the surrounding environment.
This act as a problem or difficulty in effective marketing and it will automatically lead to poor responsiveness on the organization. Some of the social network working well is face book marketing, they have handled there problems effectively when it gets to advertising measurements. For instance the click-through rate for face book marketing which has done very well over throwing placard advertisement which has dropped over time.
(R., U.M., & A., 2005) Supported that there is a study that published the part of customer overview of social network marketing; this networks grow quickly over a short time of period. In this case study, little is discovered on the behavior of online marketing to the internet users. Due to problems and difficulties capital ventures produce incorrect and insufficient facts which lend to a problem for the advertisers loose track and cannot even identify the targeted viewers.
The new research is carried out to accomplish the research on internet users approach to social networks marketing. The area of study will be Facebook. Facebook is a one of the popularly, most used and known social network used by both young and old. It is commonly used for business matters or personal matters. Facebook marketing is much different from other customary marketing. This is a service that is mostly used by start-up organization to involve the social network people. This means that Facebook marketing is still at its early age and it is a beginning dimension of marketing which is growing very fast.
However this research entailed aims and objectives, a purpose and also some of the encountered problems. The purpose of this study was to analyse Facebook marketing on how to approach it, measurements on how to appraise their efficiency and also Facebook marketing strategies. There are some challenges and problems of this study this include increasing a close view and analyse measurement of Facebook marketing strategies adapted by different organizations.
The main aim of this study is to find out what influences users on quantity of time they spend on Facebook. This was done at a view point of the kind of usage, brand and how much they are involved in advertisement. The managed result also showed that Facebook usage was on: post on timeline, fun, looking for friends and during free time. It also showed that gender and marital status contribute to the time spent on Facebook. Objectives of this study are:
To view Facebook marketing activities
To evaluate the intensity of Facebook marketing strategies
To examine the consequence of Facebook marketing activities
To charge the helpfulness of Facebook marketing measurements in terms of importance of social network sites
To find out how marketers are adapting to the advertisement changing world.
Reason for the study
Facebook was first discovered in 2004 by Mark Zuckerberg, it was confined to college students requiring users to use their email ids connected with their colleges. Facebook movement enlarged new has association and today Facebook gets 200000 memberships daily and 54 billion standard page view. Social networking sites they are no longer innovative but Facebook marketing has tried to improve and maintain its users. Facebook is a website equipped with different types of software that are needed in the internet to allow user to perform activities that can be performed on different website making it an outstanding social networking. Apart from the marketing function, Facebook marketing is also used for public communication and personal private communication like sending family pictures.
View of the study
Communication occurs where there is a sender and a receiver of a message being transmitted. Computer application is one of the ways that that is used to communicate; IT modification has developed the mode of communication making it acceptable for social work communication to be accepted. This has allowed users to acquire widespread awareness. Availability of different software that make up Facebook it is possible to use Facebook marketing instead of using other different websites to promote and advertise you product.
This are things like uploading an image or a video so as customers can view all the features of the product. It has also been discovered that most of the users do not pay attention to the advertisement in there profile and this can lead to companies developing a communication direction with their clients and this is much better than social marketing (Bakker, 2003).
Social networks
Social networking has affected individuals differently. The networks link connect individually online all around the word. IT development has put together the daily lives activities of individuals. Out of curiosity people have widely accepted social networking and they engage more on social networking. They send links to their friends and also write more on their profiles. Some websites have restrictions on who is to join in terms age, gender or religious and others group there members into different categories like mutual racial or gender but there are some other groups that do not carry any restrictions and anybody can join.
Competitive market structure
Social networking is based on a competitive market where they work hard for each website to increase its competitiveness advantage for each site to emerge the best then they should be creative and come up with something unique. This is done by working and coming up with new and more resolution to get hold of their clients. Marketers work on this by making simple online brand communities, this are social sites that depend on structure position of their relationship among their brand followers and they are focused; non- geological limit communities.
This communities influence their customer intentions and behavior due to their good relationship. They also create an easy working environment for their customers like providing contact information. Facebook being one of the social network sites with billions of users they take advantage the relationship to market products. They are different methods used to market in Facebook like rumor marketing, dispersal of modernization, buzz marketing and viral marketing. Rumor marketing is one that is mostly used.
Social network analysis
Social network examination is quite important to search for the best technique to determine “who talks to whom” in a group of people. It is also very important to analyse a social network to understand which group suits you and also to understand the type of information that is required.
Importance of Facebook marketing
Facebook marketing has become one of the best marketing channels in the word of businesses. One of the major importance of Facebook marketing is has varied areas and also makes things appear to be more real. It can also advise and help organizations on how to get new clients. The development of Facebook marketing has helped user to rely on online communication whereby you don’t have to appear face to face. Facebook has turned out to be one of the social networks which have grown drastically in rumor marketing.
In most cases rumor Facebook marketing requires a face to face appearance so as it can be more effective for buyers to buy the product. Companies that want to introduce a new product in the market mostly go for internet marketing. This is because there are several users and also rumor marketing is more effective if used on social sites. This is also cheaper than employing other classical advertising channels and also Facebook is managed by individuals and their relationship among each other helps them to communicate effectively.
You should also consider the most effective and persuasive to use for good promotion. Nielsen researched and found out that 78% of 26000 Facebook users are invited by the Facebook old members. Deloitte consumer products group found out that 62% percent of clients are influenced by user appraisal to read more about products.
Empirical researches inspected that new ideas are passed through interpersonal statement. In the current generation every business has have an online Facebook account this helps in targeting the young generation are also it gives everybody an opportunity to give out there views. (Bakker, 2003) defined the Facebook marketing method as that includes electric media of channel where a buyer and seller interact. These suggest that e-marketing is concerned with promoting products through technology.
Facebook Marketing Essay
Facebook marketing and business
According to researcher It was discovered that Facebook marketing has altered marketing communication in business and company. Most of the vendors use Facebook marketing to look compare and contrast products and services offered by different companies. This also helps to analyse the strength and weaknesses of the rival company. Clients also consider the security of each website.
(Kozinets, 2009, pp. 252-264) Confirms that business that engage in Facebook and e-marketing grow by 46% quicker than those that use classical advertising. Online usage of marketing by companies has believed to be of an advantage over their rival companies. Facebook is the most essential social media platform in e-commerce business has large companies. For instance Ebay and Amazon are the largest e-commerce to reach its vast extensive users.
(C.M., Anthony, & E.A., 2004, pp. 90-204) investigated on possible measure that Facebook marketing can advice the development of the young and growing business to increase their sales and their profits. On the other hand (Henkin, 2006, pp. 109-483) insists that Facebook marketing can be used as an outstanding media off communication and can also assist clients to come up with what they want. (DiClemente & Hantula, 2003, p. 785) emphasized that there was truth in (Henkin, 2006) suggests that Facebook can be used by small companies to gain big numbers of people and increase their sales.
Facebook creates a good customer relationship; this is by a close supervision to assess the customers’ feedback and also to monitor your rivals at a close watch. Del and Fedex Company are some are some of the companies that employ Facebook marketing to promote their products. For instance Del uses Facebook to get rid of the supply chain offer this will offer a reader a design of how straight selling has contributed to the company to be the word class firm while Fedex company concentrate on creating a simple order which directs them to the achievement of the courier organization not only in America but everywhere in the word. (C.M., Anthony, & E.A., 2004).
The development of technology has helped Facebook marketing to play other important role other than just helping in business representation or supervising in the supply chain then they can help the company to understand how they can produce their products. (Briggs & Burke, 2002). To achieve an efficient firm then Facebook can advice on it is important for firm to have self belief and also put more effort in Facebook marketing. In a number of cases Facebook marketing is believed to have achieved the best like. Big companies like Amazon, Fedex and Dell they have grown rapidly and this is made possible the individual examination of each company to ensure that face book marketing is working effectively in the companies.
Marketing plans
To come up with effective marketing plans the organization should involve the community to get opinions on what their products should have and what is the best time to release their products this will help the organizations to have the best market plan. Advertising is one of the ways that you can involve the viewers and get their opinions. This can be done through television advertisement. In the current years Facebook advertisement is considered to be the best since the viewers can easily live there comment. (Steinfield Ellison Lampe 2008 434–445). This is essential to Facebook marketing plans.
Perceptions of advertising relevance and value
In another research it discovered that clients have a different reaction of online marketing. These reactions can be identified on the use of Facebook marketing. One of the client behaviors is seen on Facebook marketing offered as a two level arrangement showing widespread insight of Facebook marketing and the personal insight with marketing. The other effect is seen at an individual level where one is able to converse with each other regardless the distance (Alwitt & Prabhaker, 2004). Facebook has gain popularity and it is highly praised for its power to influence more and more people to use.
It contains unique measures like image sending, text sending and also sending video links. It is possible and very easy for Facebook marketing affiliates to access information regarding a company when they view the multilingual profile of the business. It also helps business organization to describe more about their products in there profiles (B. & Ellison, 2007).
Advertising avoidance
This may appear mostly when viewers don’t pay attention to the advertisement this can occur when people don’t pay attention to the pop ups in the internet or when people revolve to other programs on the television when there is a ads break. Others don’t even pay attention to the ads place on the newspaper. Advertising confusion may appear when there is over advertising in a well known advertising media (Palmer and Koenig Lewis 2009 pp 162-176).
Credibility
Credibility can be defined as the belief or a personal thinking of something. Media and marketing credibility could be described as the perspective of the customer thinking and customer believe about media advertising. It has been discovered that online media credibility can be measured. Another research carried out discovered that internet information is not restricted. This makes online information not to be trusted since it is not restricted. Peoples mostly don’t pay attention to online pop up advertisement because they don’t trust in it.
Privacy
Privacy matters in social internet sites have become one on of the problems. People don’t trust internet with their information. Some people end up exposing extremely personal information on their website which can be accessed by everybody.
Evaluation
Social media use different methods to converse which are innovative shift. Some of the social media are blogs, wikis which are similar to Facebook as well as LinkedIn. With the developing technology more and more social sites are coming up but customers’ use this websites after lawyers have inspected them and they are found fit to use.
New FTC Guidelines Implicate Social Media
The Federal trade Commission issues testimonials or improvement guidelines that are relevant to social media whether it is a sponsor or not. In Inadvertent liability may affect not present wary monitor. In fabric association a company as well as a blogger or tweeter, it has got to be released by the blogger or tweeter as well as accountability for deteriorating.
Company Sponsored Social Media
Companies using Facebook marketing, YouTube and all the other social media they need there pages to be well regulate in matters of law or trademark and copyright infringement. Facebook is one of the sites that are much easier to regulate and still deliver all your messages.
Employers/Employees Issues
Both the employers and employee play a role in the development of the company. The two parties use social media for business and personal matters. This requires one to be more careful about the laws governing the company. All business is based under laws that that should be well followed by both the employs and the employer.
Employee Use of Social Media
If a company is not allowed to use social media the employees should be fully educated on the consequences of social media participation and they should also know how to differentiate their private and professional life. If a company uses social media then they should know how to handle the business matters to portray a good picture of the company.
Employer Use of Social Media
Companies are more application amusing media to
Awning abeyant job applicants.
Investigate doubtable counterfeit claims for workers’ advantage or unemployment benefits.
Adviser agent conduct, which may reflect ailing on the company.
This amusing media is still evolving in the favor of accepting an accounting policy. As an employer you should acknowledge any risk that can be encountered by the company if the product is posted online.
Intellectual Acreage Issues
For a company to be full recognized it should have a trademark or a copyright to help it protect the company brand. This trademark should appear on the ambit of the product or article for it to be recognized easily.
Policing One’s Bookish Acreage is Essential
This is analyzing amusing media sites for crooked use of a company’s batter name, logo or more bookish property. By quickly policing a company’s bookish acreage on amusing media sites, an aggregation can more acceptable bulwark off an affirmation. Although this can be time arresting there are abundant accouterments a business may use to advise the web.
Trademark Aegis in Basic Worlds
The use of barter names and logos are so essentials and it has become a rising concern. The law is much concerned on these items. Brand support argument has become one of the issues that are a concern online.
Misappropriation of Corporate Bookish Acreage for Amusing Media User Names
Misuse of logo and name is growing rapidly and it has become of allot of concern. People have been using logo and names that resemble. An example is where there are hundred Starbucks sucks pages and groups as well as fake and totally disapproved hundred Starbucks suck pages and groups. Facebook is one social site that has adopted an action to accord with incidents of brand imposters and fake brands.
Copyright Infringement
Agenda Millennium Absorb act was established to the accepted amusing media sites has created a specific action to approve dispute. Most of the sites have begun these procedures that are the agreement of service and a quicker action and also a sure way to accomplish copyrights than litigation.
Facebook Marketing and Litigation Issues
The development of technology is governed by lawsuits that are not supposed to be violated by the company or the users. The use of the amusing media is all about having fun and a lot of excitement. In most cases amusing media acutely expands the cosmos of potentially accountability abstract and impact destruction. In all cases of social media legal matters should be kept into consideration despite the category of the social media.
Contemplating the Close Consumption Experience
A lot of research and investigation have been carried out about the amusing networking website. This website frequently pop up questions like “What is on your mind?” to the members this question helps people to give their real life emotions and experience. These make a lot of users to spend a lot of their time examining their own thoughts. In a business with a customer research may encounter problems during their research. If a business uses Facebook marketing then it will help the owners to get the real expression of the customers. According to Mathews inculcated a thoroughly civil appearance of empiric absoluteness beyond all bookish disciplines, such that the article of our observations is accepted to disentangle in a law like way, uninterrupted by chat with its assemblage or eruptions of anapestic self-disclosure or promptings of close will.
For Virginia Woolf, it was a moment of being; for James Joyce, an epiphany; Ezra Pound, a magic moment; Walter Benjamin, shock; and for T. S. Eliot, the still point of the axis world. Introspection then, bedridden with what a lot of accurate scholars, and absolutely customer ability theorists, would accede a too baby sample, never had a chance, (Wasserman Faust 2004 46-90) which is an abashment accustomed its inherent abeyant to abduction the abstruse moment. Companies like Google and Facebook they have a secret writing system which cause the rising of salaries.
Some of the well paid technology professionals are from Silicon Valley rose. In 2011 it was 5.2% to breach $100000 barrier, while pay rose just 2% nationally, according to a contemporary bacon survey. One admission academy senior, announcement anonymously on the Web, claimed that Facebook marketing office offered a $100,000 salary, a $50,000 signing bonus, and $120,000 in banal options. According to the announcement filed in affiliation with Facebook’s planned antecedent accessible alms of stock, the company’s headcount jumped from 2,127 to 3,200 full-time advisers in 2011. Unlike some ample companies, Facebook marketing does not leave recruiting programmers to its animal assets department.
One thing is that most companies don’t hire for specific jobs Facebook puts new hires through a six-week Cossack affected area they circle through projects, allotment one that apparel them best. “Facebook marketing and added companies accomplishing this are saying, (Simonite 2012) ‘You can plan for us and still be ambitious and actualize your own thing.
Although the coder antagonism looks like a fun and able meritocracy, it as well reflects problems in the U.S. apprenticeship system. Very few women participate, and a lot of the winners are from overseas. “Facebook [is] aggressively traveling to added countries because there aren not abundant accomplished humans in the U.S. Facebook marketing has a able ability of ‘hacking’ and already a month, advisers are accustomed 24 hours to absorb developing a new app. Successful ideas, which were prototype at a drudge day, cover the Like button and Timeline.
The affair of the day was ‘distribution’ via the Open Graph API. By positing user ‘actions’ (such as read, share, like, ate etc) to the Open Graph (OG), this advice can be aggregate beyond the After three added circuit of academician teasers, Facebook marketing will fly the top 25 coders to its arch appointment in Menlo Park, for an adrenaline-soaked after piece this March that will accolade the best $5,000. In return, Facebook marketing gets an attempt at hiring the stars apparent forth the way.
Online marketing has become one of the most leading systems of marketing that is applied by both large and smalls business, both old and new they all engage in online marketing. Some of the social website that rare widely used is Facebook marketing. Therefore, Facebook marketing is believed to be one of the modern ways that people can use to promote and advertise their products. In the current year email marketing and mobile marketing are used. What makes Facebook the best among is that it contains both Emails marketing and online marketing to.
Companies that use Facebook marketing capture more clients thus making more sales. The coming up of Facebook marketing and all other social networking websites in businesses and observation of laws ensuring that they don’t violate any laws has created a remarkable marketing environment for business and its client. Facebook having its positive side it still have some negativity that might cause damage to the business.
Some of the problems faced by Facebook marketers are: some of the people may end up revealing their personal information on the website which will be accessible by anybody; this shows that Facebook does not provide privacy. Social website also does not restrict information this can lead to people sending counterfeit information which is not reliable to the users. This leads to many viewers not relying on internet advertisement and they prefer to use TV advertisement.
This causes decline of sale in internet marketing. For a business to be successful on e-marketing they should educate there both the users and the employees on how they should use the internet without violating the laws. According to the objectives of the research it has been proved that most of the marketers and business owners have adapted technological method of promoting their products. All the problems that were encountered by the marketers were noticed and it became easy for them to come up with the effective solutions. All the measure of how to appraise Facebook marketing strategies were analysed and they can now be practiced.
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