...micro-messaging –Indeed, 2008 was a year of tremendous growth and media coverage for Twitter. Even CNN and NPR incorporated Twitter into their election coverage. Nielsen Online reported that Twitter's userbase grew 343% last year, from about 500,000 users in September 2007 to more than 2.3 million users in September 2008. On the web, Social Net works –Satisfying people’s desire of knowing other people’s lives –Easy following people –Being followed, and also easily block others •Live Searching •Link Sharing •Very open with the API –Twitter allows users to post text updates via SMS, instant messaging, email –Real time web, you can easily through sms to twitter –O2 has only been operating its Twitter SMS service for two weeks, and has already reached the milestone of a million Tweets having been delivered through the service. –such growth can bring some bad attention along with the good Weakness Lack of a viable business model Difficult to reply to specific tweets Searching on Twitter is almost worthless. Easy to have fake account IT Instability Opportunity powful Influences towards the world I don’t know if this is as good for Twitter as the Charlie Rose incident was for Apple, but it’s close. UC Berkeley graduate journalism student James Karl Buck was arrested on April 10 without any charges in Egypt for photographing a demonstration. He used his mobile phone to twitter the message “Arrested” to his 48 followers, who contacted UC Berkeley, the US Embassy...
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...finally done, there is a surprise it’s not better”, says Avinash Kaushik, co-Founder of Market Motive Inc and the Digital Marketing Evangelist for Google. In just a few short years, social media has revolutionized the way people communicate and share information, turning conversations into 140-words blips and making e-mail- the original electronic communication tool- seem quaint. In the business perspective, social media creates a kinship between the brand and its consumers and prospective consumers, which drives purchase intent and word of mouth. In this context, I will address the role of social media in revolutionizing the apparel industry as a business model, and its challenges and projections. Why Is Now the Right Time for Social Media? Growth & Interest Are High. A recent survey from eConsultancy shows that social networks and blogs are the fourth most popular activities online, (ahead of personal email, even) and that 10 percent of all time spent on the Internet is spent on social media sites. Statistics on the leading social networking sites are equally impressive: Facebook now lists more than 500 million users, with an estimated 500,000 new users signing up each day. In total, people spend more than 700 billion minutes per month on Facebook.On YouTube, users are watching 2 billion videos each day and uploading hundreds of thousands of videos daily, while Twitter is now attracting 190 million visitors per month and generating 65 million Tweets a day. All those users and all...
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...How should Sephora allocate budget across the various digital categories? <Chart 1 – Marketing vehicle, directions of media in IMC process> Sephora’s digital media budget allocation should be planned to execute distinctive strategy and exploit on-line market growth. After analyzing Sephora’s differential advantages over other competitors from customers’ view of purchase process, we could concluded that it should strengthen advantages of ‘Conviction’ stage as differential sources which represent ‘Beauty experts’ and ‘advice’. Furthermore, we also decided that it is vital to consider repetition-purchase-rate and get additional investment on mobile applications to respond to increase of on-line formats. Since the case did not provide customers’ purchase process of Sephora specifically, we analyzed the case by using basic model of integrated marketing communications (IMC) and defined each media’s attribute by evaluating qualities of them through team discussion. We considered directions of each media in the process not allocating budget quantitatively since there was no conversion rate, unique visitor and unit cost in the case. A. Conviction efficiency – 40% ($ 400,000) : Beauty Talk It is very necessary for Sephora to make positive conviction to potential consumers to retain more actual purchase from them. Actually, it should focus on marketing resources and make company’s differential strategy by activating interactive resources, Sephora’s advantage. According...
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...THE LUXURY CONSUMER IN THE NEW DIGITAL WORLD: THEN & NOW 201 Four Seasons Luxury T 2 rend Report Luxury Trend Report | 1 The global luxury landscape and the luxury customer have evolved dramatically over the last tumultuous and transformative three years. The advent of unprecedented new technological innovations, coupled with the increased skepticism left over from the global financial crisis, mean that today’s consumers are demanding honest, accurate, timely and engaging information. They are looking for intrinsic value and a deeper relationship with the brands with whom they choose to support and interact. According to The Affluence Collaborative1, a research powerhouse that dives deep into the habits of high-income consumers, the affluent2 seek out companies and brands that can simplify and improve their lives. In the travel sector, this translates into increased expectations around personalization cutting across all touch points – including digital media platforms – as luxury travellers research, purchase, engage in and reflect upon their travel experiences. The Luxury Traveller Technology Survey3, commissioned by Four Seasons, coupled with leading luxury market research and brand insight, sets out to uncover how consumers want technology to blend seamlessly into their experience, and how those preferences have changed in recent years. strong performance in China and Latin America, are driving growth in the sector. All combined, the global luxury market is expected...
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...Social Media Marketing Abstract Keywords: social media marketing, advantages, electronic word-of-mouth (e-WOM), disadvantages. Introduction Marketing is a well-built methodological science and is continuously changing its rules to adapt to the new developments. Internet development and especially social media is one of the recent changes that happened to the market and it has a major impact on the communication between the firms and customers. Internet helps people to share, to create, to adjust content, and to get informed. It has certain characteristics (Peterson et al., 1997) such as: * Stores vast amounts of information at different virtual locations inexpensively * Distributes, searches, and organizes the information powerfully and inexpensively * Serves as a transaction medium * Low cost and easy entrance * Serves as a physical distribution medium for certain goods such as software. Social media is different from traditional media as it provides quality, regularity, usability, proximity, and eternity, which makes it efficient for the firms. According to a report from the Center of Marketing Research (CMR), more large companies are using social media to promote their brand online (Belicove, 2012). The introduction of social media to the market has changed the way businesses operate and advertise. The largest mediums have been pages such as Facebook, Pinterest, FourSquare, Youtube, and Twitter. In 2012, the yearly report showed that large companies...
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...Marketing & its Evolution over the years Marketing is not the art of finding clever ways to dispose of what you make. Marketing is the art of creating genuine customer value. It is the art of helping your customer become better off. The marketer’s watchwords are quality, service, and value – Dr. Philip Kotler. (Kotler, 2012) Marketing is the science of choosing target markets through market analysis and market segmentation, as well as understanding consumer buying behavior and providing superior customer value. (Wikepedia, 2012) With the growing consumer demands & their technologies growing at such a large pace, the traditional marketing methods have seen a complete turn-around. Until very recently, marketers focused on outbound marketing techniques, which communicated with the consumer with a “AT them” approach instead of “WITH” them approach. But, with the onset of dotcom industry and over-the-night changing competitions, the marketers had to change their game plan. Ever since, people had something to sell, We’ve been marketing. During the period from 1450-1900s, Printed advertising remained to be a powerful marketing tool. This came with the magazines, billboards, pamphlets & posters being used for mass marketing of consumer commodities, movies & even freedom-fight related campaigns. The main idea was to target consumers on the basis of what they see & perceive. Printed advertising is used till date as a major tool for marketing. From early 1900s...
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...promotion Content Abstract 3 1. Introduction 4 2. Industry Context 5 3. Management Issue 9 4. Literature Review 15 4.1 Digital Music Market and Retailer 15 4.2 Social media 18 4.3 Social Media Tool and Music Retailer 21 5. Research Gap and Significance 25 6. Research Aims 25 7. Research Methodology 27 7.1 Research Source: Secondary data 27 7.2 Research Method: Case study 28 7.3 Research Steps 29 8. Research Analysis and Findings 31 8.1 Research Analysis 31 8.1.1 Audience Insight 32 8.1.2 Direct, Simple and Convenient Design 37 8.1.3 Insider Strengthening 39 8.2 Research Findings 41 8.3 Research Recommendation 42 9. Research Limitation 43 10. Conclusion 44 References 46 Abstract HMV is a British entertainment retailer, which is selling music including physical music and digital music. However, HMV does not runs good social media. In this dissertation, I will explain music industry context and HMV’s social media issue, followed by reviewing literatures about digital market, social media and music retailers. Furthermore, I design a research with secondary data research and case study method, and investigate how to deal with HMV’s social media issue through exploring what and how do other successful cases do for this challenge especially on social media. Key words: Digital market, Music, Retailer, Social media, Introduction HMV, which is a short name of “HIS MASTER’S VOICE”, is a British entertainment...
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...good use of various mass media to initiate, maintain and develop interact with their suppliers, customers, distributors and other organizations. Organizations make use of a wide variety of social media such as Facebook, Twitter, Youtube, and so on. Currently, the development of the internet and increased usage of mobile devices such as smart phones, tablets, and laptops have contributed significantly to the availability of various content online, the content that previously used to be available only on the mainstream media outlets such as newspaper, radio and television. Besides, they used these various media to boost their marketing campaigns, advertising, PR campaign, sales promotion and so forth. All in the bid to achieve their marketing goals and objectives. Consumers are exposed to thousands of commercials, sales and promotional messages through these media. This in turn has resulted in a growing trend in social media influencing consumers (Bagaturia & Johnson,...
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...labels, music marketing professionals, promoters, and others in the music industry. Direct-to-Fan is also becoming a model used by the broad definition of artists, including comedians, visual artists, and other entertainers looking to build and leverage a fan community throughout their career. The Direct-to-Fan model bypasses the major record label model that historically controlled radio, venue, and distribution channels, and lets the artist (or the team that supports that musician) create interest in their music directly with their fans, identify those fans, market directly to and develop relationships with those fans, sell directly to and monetize those relationships, and use those relationships to expand their fan base. Foundation components of this model include music discovery sites, and Direct-to-Fan music sales, marketing, and business solutions. Direct-to-Fan models encourage engaging directly between the artist and their fans, keeping the fans engaged, knowing who they are (who, what, when, where, why), building the artist's brand, and developing the artist-to-fan relationship over time. Direct-to-fan tools Some tools supporting Direct-to-Fan include: Storefronts to sell direct-to-fan on Band Websites and on social networking sites such as Facebook or MySpace, Widget tools to embed sales, gig or event calendar, profile info anywhere including blogs, Marketing tools such as email marketing and messaging, Event tools, Central Content Management tools, and Central...
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...prepared by me specifically for this course. ____________ 03/02/20xx Signature Date Today, Facebook, Linkedin, Twitter, MySpace are well-known social networking brand names that many of us have grown accustomed to making part of our daily routine, whether it be for staying in touch with friends, networking, or micro-blogging. Social networking tools have the potential to revolutionize e-commerce as we know it today through “social commerce” platforms. A 2011 study by Booz & Co estimates that social commerce is currently a $5 billion market with the potential to grow to $30 billion in five years (Booz & Co., 2011). Social commerce's transformational power lies in its personalization of the internet experience, connectivity with an individual’s network, and the dynamic customer data collection that can drive current and future marketing and sales efforts. In this paper, the author will introduce the social commerce concept, examine the social commerce market, explore the effect of social commerce on consumer behavior, discuss social commerce pricing strategies and valuation of social commerce networks, evaluate the industry concentration and look at the future of the social commerce. What is Social Commerce? Even though today we equate social networking with Facebook and Twitter, social networking itself is not a brand new concept. “Early forms...
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...DIGITAL MARKETING Name Course Name Instructor Date EXECUTIVE SUMMARY Digital marketing is dependent mostly on technology that is evolving and rapidly changing and thus similar features are to be projected from digital marketing strategies and developments. The swift evolution of digital media has brought innovative changes and opportunities for marketing. Fueled via an increase in devices to read digital media, it has resulted in the simultaneous growth of digital marketing. With the rapid growth of possession of tablet devices and smart phones, today's consumer desires to be able to explore, buy, and control their monetary services on demand with their device(s) and in nearly any locality. Reinventing the fiscal services purchase channel, the way customers perform daily banking, the conveyance of insight, and the interface between channels, the drive-to-digital will present opportunities for retail banking. According to a recent financial report "The Best Thing to Do With Your PFM Tools May Be to Get Rid of Them": "motivating revenue for banks will demand that personal financial management (PFM) tools advance to suit actual digital personal financial advisors (DPFAs). The digital advisors are set to use a customers' personal data and other business intellect to find out about personal monetary habits. It will thus enable the bank to assist proactively the client execute the transitional steps involved in achieving both short and...
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...E-sport tournaments and customer engagements Name Course Title Instructor Date The role of the e-sport tournaments activities in increasing customer engagement in video game industry in China E-sport tournaments E-sport is basically, competitive gaming that involves computer games and other related forms of games that can be addictive. Many people who involve themselves in the sports can get addicted to them in the case where there are structures that enhance their engagement in the games and tournaments. The customer can easily be engaged when the sports have aspects of addiction that can come as a result of elements of reward. The Chinese video game industry is worth millions of dollars and needs to keep the customers in order to enhance the flow of profits and growth of the e-games through addictive tournaments. E-tournaments do engage customers and make the games addictive because of the continuous engagement in the same and the rewards that come from customer performance. Gaming is a popular TV sport in Korea with channels, leagues, teams, superstar players dedicated, adoring opportunities of multinationals and female fans have ignored. Ongagemenet, the first cable TV channel solely devoted to online gaming, celebrated the 10th anniversary of the Star League, which was a testament to the popularity and longevity of a phenomenon of TV gaming that is popularly known as e-sports. The popularity of a single platform of a game, Starcraft has swept the Korean nation...
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...ENGAGING AUDIENCES: AN ANALYSIS OF SOCIAL MEDIA USAGE IN ADVERTISING A Thesis Submitted to the Graduate Faculty of the Louisiana State University and Agricultural and Mechanical College in partial fulfillment of the requirements for the degree of Master of Mass Communication in The Manship School of Mass Communication by Emily Fay Mabry B.S., Louisiana State University, 2008 May 2010 ACKNOWLEDGEMENTS The inspiration for this research emerged from the opportunity to live in New York City during the summer of 2009 and intern at a premier digital agency. I would like to thank my committee chair and boss, Dr. Lance Porter, who helped me realize this opportunity and nurture my research interests into a thesis project. His guidance and encouragement over the past two years have helped me in my attempts to decipher my future and achieve success. I would also like to express appreciation to my committee members: Dr. Anne Osborne for her insight into instrumentally combining my research into a seamless product and Dr. Felicia Song for her thorough contribution and dedication to this project. Finally, thanks to my parents who have always supported me in everything I do. ii TABLE OF CONTENTS ACKNOWLEDGEMENTS ............................................................................................................ ii ABSTRACT ................................................................................................................................... iv CHAPTER 1....
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...CHAPTER 7 UNDERSTANDING NETWORK EFFECTS Introduction * Network effects: When the value of a product or service increases as its number of users expands * Also known as network externalities or Metcalfe’s Law * When network effects are present: * The value of a product or service increases as the number of users grows * They’re among the most important reasons you’ll pick one product or service over another Where’s all that Value Come From? * The value derived from network effects comes from three sources: * Exchange * Exchange creates value and every product or service subject to network effects fosters some kind of exchange * Staying power: The long-term viability of a product or service * Networks with greater numbers of users suggest a stronger staying power * Complementary benefits: Products or services that add additional value to the network * The three value-adding sources work together to reinforce one another in a way that makes the network effect even stronger * When users exchanging information attract more users, they can also attract firms offering complementary products * When developers of complementary products invest time writing software switching costs are created that enhance the staying power of a given network One-Sided or Two-Sided Markets? One-sided markets * A market that derives most of its value from a single class of users * Have same-side...
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...MINI COOPER: MARKETING STRATEGY, DIGITAL MARKETING, BRAND & ETHICS 10.2478/cris-2013-0005 MINI COOPER: MARKETING STRATEGY, DIGITAL MARKETING, BRAND & ETHICS MARIIA MOISEIEVA The report is designed to examine, analyse, and evaluate where appropriately the current Mini Cooper’s marketing strategy, its digital marketing initiative, branding, and the importance of ethical values in Mini Cooper as well as other organisations. That is important for understanding of the practical applications of marketing is achieved by applying theory to them. It is determined that Mini’s marketing strategy has shifted in terms of targeting and brand positioning. As previously it was an affordable iconic British car, now it has become a cool luxury car dominantly for a young segment. Its international marketing strategy is differentiated in a way that a brand is built up on the historical iconic image of Mini for the UK and associated market, but it is not associated with any values in the past for the US customers. Overall, Mini’s marketing strategy is considered to be innovative, creative, and sometimes ‘silly’, which is of great value for its young energetic target audience. Digital marketing initiative also corresponds to the latest IT and social trends worldwide by ‘digitalising’ marketing initiatives and active social networking with the consumers. Brand is a core competence and ‘everything’ for Mini. Marketing is centered on its brand, not vice versa. An analysis of the Mini’s strategy...
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