...Marketing Plan: Phase II MKT 412 Marketing Plan: Phase II As a continuation of Facebook’s Marketing Plan: Phase I, Phase II will begin. As Facebook grows from the new product line, Phase II will identify segmentation criteria that will impact our target market selection. Phase II will describe the organizational buyers and consumers of Facebook and factors that influence their purchasing behavior and discuss how these factors impact Facebook’s marketing strategy. Finally, this phase will analyze current competitors and define the competitive landscape for Facebook. Facebook approaches the geographic, demographic, psychographic, and behavioral segmentation variables for the consumer market. The next three months, from the release date, Facebook will start a series of advertisements such as, on the website itself, commercials, radio, and even in magazines and newspapers. The release of the new t-shirts will coincide with the holiday season. The t-shirts are first offered in the United States, Canada, and Mexico. Research is conducted to determine where it will be most effective to expand locations in various countries in which to conduct business. Facebook will continue to sell more t-shirts that will help to meet the needs of our consumers in various counties and states by providing a quick, convenient location, just around the corner. The demographic variable will be easy enough to cover considering the product has so many...
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...The Power of Like2 How Social Marketing Works ANDREW LIPSMAN VP, Marketing, comScore GRAHAM MUDD Head of Measurement Partnerships, Facebook CARMELA AQUINO Senior Marketing Manager, comScore PATRICK KEMP Senior Data Analyst, comScore Executive Summary The following white paper is the second in the U.S. Power of Like series, a research collaboration between comScore and Facebook to deliver unique insights on the impact of social media marketing. The research, which primarily leverages data and analysis from comScore Social Essentials™, comScore AdEffx™ and Facebook’s internal analytics platform, focuses on the impact of branded earned and paid media exposure on the behavior of Facebook Fans and Friends of Fans. The summary below establishes the key findings and implications of this research. Brands can maximize the impact of their social marketing programs on Facebook by leveraging a framework that helps them move beyond Fan acquisition to delivering reach, impact, and measurable marketing ROI. Using the Brand Page as a control panel for creating social marketing programs, brands should focus on benchmarking and optimizing on the following dimensions to deliver against their broader marketing objectives: Fan Reach Exposure in the News Feed Engagement Fans interacting with Brand Page marketing content Amplification Expanding reach by promoting content to Friends of Fans through both earned and paid means Most leading brands on Facebook achieve a monthly earned Amplification...
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...Wamalwa 04/14/13 Abstract Social networking sites are growing at a very fast rate. This paper discusses three possible marketing opportunities and risks associated with each opportunity of the three leading social networking sites: Facebook, Myspace, and LinkedIn. This paper will also assesses the public relations effect on the company, and the financial improvement that is due to each of the marketing opportunity’s. Based on the assessment, one marketing opportunity is recommended for each of the three companies. Facebook Facebook, the most well known social networking site, was started in 2004. Today, Facebook has over 800 million clients. (Eldon, 2008) The First Marketing Opportunity : Sell advertisement space. This advertising chance is classified as low hanging fruit. The No. of clients on Facebook surpassed the 1 billion mark by August 2012. (Bradley, 2012) Facebook can show advertisement to correlated clients dependent upon their demographics and engages. Promoting on Facebook is more successful as associations can achieve their target clients. Risk: Many users may consider this as violation of privacy. Second Marketing Opportunity : Introduce paid membership This marketing opportunity is single. Facebook has this elevated no. of clients in light of the fact that Facebook offers unlimited aids. Association can limit access to certain offers (like film imparting, review others photograph and what not). The aforementioned...
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...this paper is to evaluate the reasons social media marketing had become exceedingly popular with large businesses to entrepreneurs. To analyze the advantages and disadvantages of Social Media Marketing for business entrepreneurs; measure how Social Media Marketing is helping Pepsi gain more customer insight than it would have otherwise; measure how Social Media Marketing is helping Pepsi gain more customer insight than it would have otherwise; Research two (2) other businesses that have used Social Media Marketing to their advantage; Discuss how each of these businesses has utilized Social Media Marketing and provide examples with your discussion. Lastly, speculate what impact Social Media will have business over the next decade and identify what skills you need to improve to take advantage of the changes. 1. Evaluate the reasons Social Media Marketing has become exceedingly popular among businesses of all sizes. Social media marketing has become popular among business of all sizes. Companies use social media to expand products and services, and also to reach a larger audience. Not only will these products and services reach a domestic audience but also an international audience. Social media sites such as Facebook (www.facebook.com), Twitter (www.twitter.com), or YouTube (www.youtube.com) allow companies and entrepreneurs to market their products or services either for free or at fee based advertisement. Facebook is a global social media network with $400 million member...
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...Impact of Social Media on the Financial Services Industry: In today’s age everyone is well aware of the significant impact that social media has had on our lives in the way we communicate, socialise, conduct business and view the world. This case study however, will attempt to narrow the scope of this theme, by looking specifically at the way in which social media has influenced the financial services industry. The evolution of social media has facilitated a change in the nature of the relationship between institutions and consumers within the financial services sector. Not all of these changes have, however, had a positive effect on financial institutions. Media convergence and the growth of user-generated content has blurred the lines between different platforms of media, and the distinction between producers and consumers (Australian Communications and Media Authority, 2011). Social media outlets such as YouTube provide a platform for individual users to become producers by distributing content that can be viewed anywhere in the world. As a result, anyone with an internet connection has access to more knowledge and information than any time previously in history. This has impacted the financial services sector as non-mainstream media platforms are increasing awareness of the risky and often corrupt practises of financial institutions, particularly within the banking industry. For example, Peter Schiff, an American stockbroker and CEO of Euro Pacific Capital, has used...
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...Social media marketing refers to the process of gaining website traffic or attention through social media sites. Social media is a platform that is easily accessible to anyone with internet access. Increased communication for organizations fosters brand awareness and often, improved customer service. Additionally, social media serves as a relatively inexpensive platform for organizations to implement marketing campaigns. Social media marketing (SMM) is a form of Internet marketing that utilizes social networking websites as a marketing tool. The goal of SMM is to produce content that users will share with their social network to help a company increase brand exposure and broaden customer reach. Is social media marketing right for your business? * This is the question few companies ask themselves before launching into social media marketing. And, as a result, their forays into social media marketing often result in frustration and, sometimes, failure. Not because social media marketing doesn’t work – just because they didn’t do it correctly. Social media marketing is like any other campaign, it must have an objective and a strategy to achieve desired results. * There are many companies that think it's the quick fix to a struggling business or that it will generate revenue that will help them in a difficult economic time. Truth is that social media can, in fact, affect your bottom line – but, it takes time. * Social media has a sequence of events that transpire...
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...establish how Facebook utilizes the four components of a legally astute social media marketing manager who utilizes social media outlets for consumer transactions and how each component can mitigate the risk involved in doing business in cyberspace. Also, it will list and analyze methods of alternative dispute resolution and determine which would be most effective in resolving genuine disputes that arise with consumers who may make purchases from businesses that provide links via social media. I will also determine how the federal government can best control these transactions, since consumer transactions on social media can occur across state lines. In addition, I will also examine the three branches of government and discuss which can effectuate the most significant impact on regulation consumer transactions via social media outlets. Finally, I will explain the agency relationship that exists on social media sites between the social media provider and businesses that utilize the site for advertising. Facebook is the ranked number one is social media sites. The statute of this popular social media site is where users can share their ideas and feelings about events in an open environment. People exhibit this by writing statuses. The site is used to share pictures, videos, and other points of individual interest with the rest of the world, or at least the selected people that are able to view their profile. A growing trend, however, is the use of Facebook as a social media...
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...2013 Facebook is a very popular social media site where users can share their ideas and feelings about events in an open atmosphere. These ideas are known as “statuses”. Additionally, the site is used to share pictures, videos, and other points of individual interest with the rest of the world or just a selected few. This is totally up to your personnel preferences. A growing trend is using Facebook as a social media marketing arena. There are several home-based and populated sites that are dedicated to the sale of items or services. It is through this newly established media power, that many entrepreneurial individuals have been able to establish themselves a social media marketing giants, and have gained much attention and income from being able to do so. This new ability is just a start of the technological marketing revolutions. Last year, 73 percent of Fortune 500 companies were active on Twitter, while more than 80 percent of executives believed social media engagement led to increased sales (Savitz, 2012). Social media has gained so much notoriety that “the average return on social (media) engagement was calculated to be between 3-5% (Walker, 2012). The most engaged businesses are reporting a calculated 7.7% business impact specifically from social (media) engagement, which is four times the performance of the lowest performers who only achieved a 1.9% estimated return” (Walker, 2012). This is why the social media market is a haven for future marketing success...
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...Internet Technology, Marketing, and Security Professor Dr. John H. Carter Strayer University Contemporary Business-508 August 21, 2012 Question 1: Evaluate the reasons Social Media Marketing has become exceedingly popular among businesses of all sizes. Social media has become a part of my every day life. Our text describes marketing as the “activity, and processes for delivering, creating, and communicating” a variety of information for a particular product a company is looking to sell (Boone & Kurtz, 2012, pg 353). Surprising, the new evolution of attention and gaining additional traffic for any product or service is through social media marketing (“What,” 2012, para. 1). Social media is the new way of communication. It has been described as the “catch-all” term (“What,” 2012, para.1) for sites that may provide radically different “social actions” for today’s information. Examples of social media would consist of Facebook and Twitter (“Investor, 2012; “About, 2012). However, many times Google is used as a heavy search engine (“About, n.d.). I particularly use Google on a daily basis for information I may be interested in. Many businesses use different strategies to market their product or business (“What,” 2012, para. 2). I recently learned of a company called Atlanta Hot Yoga (“Atlanta,” n.d.). Surprisingly, upon entering the class, the instructor advised everyone to learn about updates and specials on Twitter and Facebook. Facebook has been defined as...
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...offers an insight on the Facebook phenomenon and how they are used by brands as one of their main marketing channel especially by food and beverage companies. It also describes on how it changes the way we communicate with one another and how it can have an impact on brands. The chapter further presents the problem statement of the study, research objectives, research questions and the significance of study. 1.2 Background of study As the world is moving in a faster pace, rapid changes have occurred in the way we live. The evolution of current internet had made our lives more interesting and convenient. Social media has been brought to a whole new level with the advents of social media on the new Web 2.0 where the Internet has gone social. The social media has transformed online monologues into engaging dialogues by redefining how people connect and communicate with other people as well as brands and businesses. This communication platform has now become imperative in being a part of the lives of the modern society by opening the door of endless possibilities of how information is being shared and exchanged. The social media as we know today encompasses all the social networking sites which include the top major players of the industry which is Facebook, Twitter, YouTube and LinkedIn. One such social networking site that grows in an instant rate is Facebook. In short, social media is the social software that improves human communication. Facebook started off with a humble...
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...Abstract Social media marketing refers to the process of gaining website traffic or attention through social media sites. Social media marketing programs usually center on efforts to create content that attracts attention and encourages readers to share it with their social networks. A corporate message spreads from user to user and presumably resonates because it appears to come from a trusted, third-party source, as opposed to the brand or company itself. Hence, this form of marketing is driven by word-of-mouth, meaning it results in earned media rather than paid media. This paper contents five items: 1. Evaluate the reasons Social Media Marketing has become exceedingly popular among businesses of all sizes. 2. Analyze the advantages and disadvantages of Social Media Marketing for business entrepreneurs. 3. Assess how Social Media Marketing is helping Pepsi gain more customer insight than it would have otherwise. 4. Discuss two other businesses that have used Social Media Marketing to their advantage. 5. Speculate what impact Social Media will have business over the next decade and identify what skills you need to improve to take advantage of the changes. (Nix, Gary Jul 18, 2012) Pepsi Refresh Project Online and interactive media have already changed the nature of advertising. Starting with simple banner ads, Internet advertising has become much more complex and sophisticated. Miniature television screen images, called widgets or gadgets, can carry marketing messages only a few...
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...Business Strategies: Marketing Heather Schmidt MKT/421 May 30, 2012 Ron Smith Business Strategies: Marketing Of all the business aspects one must consider when owning an organization, the most important business consideration involves a company’s marketing strategy. Marketing is the livelihood of any organization, for without it, a company’s existence may go unnoticed by the public, or whatever unique competitive edge an organization may possess ultimately might remain undiscovered. Marketing not only draws consumers to the goods or services offered by a business, but it also offers customers a chance to familiarize themselves with the business’ organizational atmosphere, products, services, and operational processes. It is important for a business to establish this familiarity to secure future business relationships with its customers, thus securing a future income for the business. The following will explain different definitions of marketing as well as elaborate on how marketing affects an organization’s success, including examples of marketing techniques used by businesses worldwide. According to the Merriam-Webster Dictionary (2012), marketing can be defined as “the process or technique of promoting, selling, and distributing a product or service.” A popular example of promotion includes the Coca-Cola Company that is well known for its Coca-Cola Polar Bear Campaign. These polar bears originally made their debut in a print advertisement in France in 1922. Until...
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...network applications for e.g. trip Advisor, Facebook and Pinterest allows guests to participate in business operation and functions. This means that, tourists and travellers provide a huge amount of information about their travel experiences. Many organizations use social media as a tool to connect to millions of potential guests. Therefore, this paper will analyse the importance of social media for the hospitality industry. The first paragraph aims to address the use and impact of social media in hospitality. The second part of this paper will focus and give more insight on the impact of social media on travellers’ behaviour and using social media from a customers’ perspective. Thirdly, the kinds of social media in the hospitality industry will be discussed. As last, conclusions will be drawn while taking personal perspective, studies and theory into consideration. Use and impact of social media in the hospitality Hospitality company participation in social media has been shown to be a cost-effective tool for interaction and involvement with potential guests. Social media that is easy accessible, straightforward and appealing enables potential guests to be involved in unique ways. Hotels and hospitality businesses are constantly interacting with guests, and online guests reviews on social media plays a very big part in the hotel industry today. (Kasavana, Nusair, & Teodosic,2010) The rise of websites like Yelp, Trip advisor and Facebook give potential guests the opportunity...
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...This paper will try to analyse and synthesize four article journals around the scope of marketing channel with social media. Analysis and recommendation to the problems identified about brand loyalty will be discussed after presentation and summary for all the journal articles. Jay M. Bernhardt Darren Mays Amanda K. Hall, (2012),"Social marketing at the right place and right timewith new media", Journal of Social Marketing, Vol. 2 Iss 2 pp. 130 - 137. This journal article is set to find out the effect of new media in social marketing. This paper is to seek to discuss how the new media revolution can improve social marketing by bringing the “place” closer to the consumer. The study utilised the authors viewpoint and arguments in understanding the impact that the social media brings to consumer and business owner in terms of bringing them closer together. No empirical methodology is used to present their arguments. The findings from this journal is that the rapid growth of social media and the massive use of mobile phones will give social marketers and advantage in engaging with the customers in a radical new way. This type of marketing channel is effective in relationship marketing and is potential in getting high volume of consumer-business owner engagement. In term of place, it brought them together in real time interactions. The authors suggested that social media has bring positive impact in consumer-business owner relationship. Not long ago, consumer may not be able to reach...
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...2011 Small Business Attitudes & Outlook Survey, 73% of small businesses & organizations have started using social media marketing and 62% of those not using it expect to start marketing through social media. (Inc., 2011) We are living in a world where technology is changing the way we live, entertain, communicate, interact and more so than ever before the way we do business. The most effective way that companies are promoting and marketing their business today is by means of social media. Social media is a great way to drive repeated business and to attract new customers. Social networks, like Facebook, Twitter, LinkedIn, and Pinterest are the places where social interactions occur more rapidly. In this article we will examine one of the world’s largest and well known social media that is used worldwide to promote and market their business, Facebook. We will look at the more suitable ADR that can be used to address issues that may arise. We will further analyze how the federal government controls the consumer transactions. This paper will further examine the agency relationship for utilizing Facebook for advertising. In conclusion we will look at the overall use and effect of using Facebook as a marketing medium. As social media continues to change and grow, more and more businesses are realizing how powerful social media marketing can be to their growth and development. Since there are billions of people who use social media, connecting those users...
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