...Do I need a marketing strategy? Making and using a marketing strategy has a strong positive impact on profitability. This is because small businesses that employ a marketing strategy tend to focus on their customers and markets, integrate their marketing responses and work out in advance where their profits will come from. This briefing answers a range of questions people in small business often ask about marketing strategy: * what is a marketing strategy? * what's the difference between marketing strategy and business strategy? * where does the marketing mix fit in? * what is a marketing plan? * what information do I need and where do I get it? * what should my marketing strategy consist of? * how do I get started? What is a marketing strategy? A marketing strategy defines objectives and describes the way you're going to satisfy customers in your chosen markets. It does not have to be written down but it is easier to communicate to outsiders, like your bank manager or other investors, when it is. A set of strategies found quite commonly in smaller businesses are growth strategies. One way to look at strategies to grow your business is through the way you will use products and markets or customers. * Current product/current market Market penetration is a strategy of increasing your share of existing markets. You might achieve this by raising customers' awareness of your products and services or finding new customers. For further information...
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...and technology, I automatically think of the internet. If ever there was a medium for these three entities to come together, the internet is certainly it. Marketers will try to place advertisements anywhere possible, but they will especially try to saturate mediums that they know will have the most potential viewers. The popularity of entertainment sites, like Hulu.com, on the internet makes it an ideal location for advertising. This is apparent to anyone who has ever watched a t.v. program, movie, or music videos online because before you get to view the program that you want, you are forced to endure advertisements that can last up to 90 seconds and then your program will start. Also, one of the biggest new trends in advertising is “viral marketing” which encourages the passing on of a marketing message and creates rapid and explosive exposure and influence to the message. Social networking is probably the newest marketing trend where entertainment, communications and technology converge. Anyone who uses Facebook or MySpace is familiar with not only the advertising that is visible right on their home page, but also the fan pages that businesses have created for users to add to their friend...
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...Content Recent Trends in Viral Marketing In: Business and Management Recent Trends in Viral Marketing RECENT TRENDS IN VIRAL MARKETING *Ritu ABSTRACT 2010 looks to be the biggest year ever for online marketing. With more and more marketers demanding results-based advertising, it is no wonder viral marketing is becoming one of the fastest-growing trends. Nothing captures the essence of viral marketing better than the description of how a virus grows. It is uncanny in its ability to remain shrouded in secrecy till it wins by sheer weight of numbers. It piggybacks on other hosts, and grows by feeding on their resources, not its own. It doesn’t need to mate- it replicates itself. And with the right kind of environment, it can grow exponentially, as can be seen by the 1’s above. Viral Marketing, naturally, is something that draws upon these fundamental characteristics of a virus- exponential growth with minimum use of one’s own resources. It refers to any strategy that encourages individuals to pass on a ‘message’ to other individuals, who in turn pass it on to other people, and so on and so forth, thereby allowing for an exponential growth in the popularity and exposure of the message. This paper examines as to how viral marketing can make a brand name stand out from the competition and some strategies important to make viral marketing campaigns unique . The paper identifies trends that will increase the likelihood of a successful online viral marketing campaign and demonstrate...
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...Digital agency 10 Yetis has revealed the results from its review into how the music video Gangnam Style became so popular online, finding that the campaign was an organic natural hit with little if any “gaming” (false manipulation) of traffic volumes and online mentions. Overall the report found that, rather than being celebrity tweets which drove the popularity, it was a well structured and meticulously executed campaign by the South Korean label company behind the song; YG Entertainment. The report was broken down into three stages; firstly the set-up by YG Entertainment, secondly the song and the video content and finally the media push. Stage 1: The Set-Up Driven by the record label behind Psy (the star of Gangnam Style), YG Entertainment, the video formed part of a wider business goal to push into the US and UK music industry. The report found that YG Entertainment had spent a significant amount of time, before the song came along, setting up an office in America and exploring partnerships with artists such as Will.i.Am. A deal announced with record label Scooter Braun was also brokered in advance, and planned to be announced at the right, strategic, time, so as to give the campaign a further boost. The company also invested in organically growing an engaged audience, so that when the right song came along, they had a large platform on which to seed the campaign to ensure maximum exposure and a surefire online hit. In addition YG's seeding platform, pre-Gangnam, it...
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...Monitoring Employees on Networks: Unethical or Good Business IT/205 July 19, 2013 Beverly Scott Monitoring Employees on Networks: Unethical or Good Business Since email first emerged as a business tool, companies have increased productivity, decreased costs and found new marketing venues. From collaborated group work to encouraging management messages, the advantages of email in business can be seen in small and large organizations. Rapid Communication Email communications blaze through the Internet with amazing speed. This speed allows businesses to work at a faster pace and communicate more effectively, even in large organizations. Executives are able to receive almost real-time status updates and can therefore make well-informed decisions. Email can also be used to rapidly disseminate information to multiple employees at the same time. Decreased Cost One of the biggest business advantages of using email in business is the cost savings. The overhead to maintain an email system is relatively low. Small businesses can utilize free online email services for no cost beyond their computer and Internet connection expenses. The decreased costs for businesses can be seen in their postage usage, telephony expenses and even travel expenses. Decreased Layers of Management Email effectively decreases the layers of management because everyone in a company can email the company president with ideas, suggestions or comments. Management can obtain opinions from the front lines...
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...Franko Ali, Stephanie Eckart, Yevgeniya Litvinenko, Kathrine Marazita DOMINO’S “SPECIAL” DELIVERY: Going Viral Through Social Media Pizza is one of the most well known American dining staples, and is considered easy and inexpensive for the average consumer. Domino’s Pizza is one of the most recognized and largest pizza outlets out of thousands of pizza brands around today. In a market segment that is highly competitive with numerous options of different brand options, each company works tirelessly to maintain brand image and corporate standards. DEFINING THE PROBLEM The Domino’s Pizza Company faced its largest problem in its 49-year history in April 2009. The Vice President of Corporate Communications, Tim McIntyre was alerted to an issue regarding two Domino’s store employees, who would be later identified as Kristy Hammond and Michael Setzer, were behaving inappropriately. These employees posted videos online of themselves depicting unsanitary, disrespectful and inappropriate behavior on the job. These two employees didn’t think anything of their behavior until they got caught, then offered a lousy and unprofessional apology. Once the uploaded videos surfaced, Domino’s corporate executives were forced to act quickly. In order to do this they needed to ensure that no more videos would be posted, identify the employees and repair any possible damage to the reputation. McIntyre knew the videos could easily have had a larger impact on the Domino’s brand. All major...
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...HIV/AIDS & HOMELESSNESS Recommendations for Clinical Practice and Public Policy Developed for The Bureau of Primary Health Care and The HIV/AIDS Bureau Health Resources and Services Administration by John Song, M.D., M.P.H., M.A.T. November 1999 Financial and other support for the development and distribution of this paper were provided by the Bureau of Primary Health Care and the HIV/AIDS Bureau, Health Resources Services Administration, United States Department of Health and Human Services, to the National Health Care for the Homeless Council, Inc., and its subsidiary, the Health Care for the Homeless Clinicians’ Network. The views presented in this paper are those of the author and do not necessarily represent those of the United States government or of the National Health Care for the Homeless Council. Nothing in this paper should be construed as providing authoritative guidelines for the practice of medicine or for treatment of medical conditions. This paper may be reproduced in whole or in part with appropriate recognition to the author, John Y. Song, MD, and the publisher, the Health Care for the Homeless Clinicians’ Network, National Health Care for the Homeless Council, Inc. Second Printing February, 2000 National Health Care for the Homeless Council Health Care for the Homeless Clinicians’ Network Post Office Box 60427 Nashville TN 37206-0427 Phone 615/226-2292 Fax 615/226-1656 council@nhchc.org or network@nhchc.org http://www.nhchc.org i PREFACE HIV/AIDS...
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...C. Burton C2 Montana Mountain Biking 1.) According to the five stages of customer loyalty, the MMB’s customers lye mostly in the commitment category. Given the rate of repeat customers (80%) . it would be reasonable to assume a similar report of the customers (60-75%) are in the familiarity or commitment stages, due to the fact the MMB is very serious about their enthusiasts. This would probably mean very few (10%) have reached the separation stage. MMB has had a very consistent business plan. Giving customers little reason to be pushed away from them. The article makes it sound like mountain biking enthusiast would not be quick to give up their hobby at all. The leaves roughly 15-20% exploration or familiarity. I feel that slightly more (10-15%) to exploration because of the new website traffic as well as email inquiries. They would not be inquiring about the photos if they understood the website. 2.) Given the large percentage of MMB’s customers are repeat visitors, I would recommend that adding a option to their website would allow users to submit their e-mail address so they can receive a monthly newsletter or updates about featured tours. In the e-mail messages I would also include links to the photo galleries that are posted on the website. They are appealing to the eye enough to draw people all on their own. The links are convenient for customers to be able to forward the e-mail to their friends who might be interested or are photo enthusiast. This strategy...
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...It is crucial that any new business start-up carefully considers the significance of various key managerial issues surrounding the multiple departments, that when functioning coherently, formulate the organisation as a whole. The aim of this report is to identify the essential requirements of four key areas within Baggers Originals Ltd following the re-launch of the company. The report will address questions which may be raised regarding financial resources; such as how to avoid problematic cash flow difficulties and how to increase the profitability of the business. Secondly, I will consider the best ways to market the Baggers brand both with and without the use of electronic platforms such as social media and the internet in order to drive sales, to create an increased awareness of the brand and place the company at the forefront of the customers mind. Additionally, the final two considerations will relate to the operational aspects of the business including the staffing and managerial procedures, as well as the analysis of which key areas of the business should be particularly focused upon in terms of the future growth of the company. Financial resources refer to the ‘money available to a business for spending in the form of cash’, securities such as shares and credit facilities such as a bank overdraft. Sound management of these financial resources is a necessity in order to ensure the long term viability of the business. When deciding which procedure is best to follow regarding...
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...ONLINE FORMS OF ADS AND PROMOTIONS 1.0 BANNER ADS/TICKERS 1.1 OBJECTIVES The objectives of the banner ads/tickers are to increase customer traffic, to sell specific products, to attract attentions and to announce specials and discounts. 1.2 IMPORTANCE This type of ads has a lot of importance such as building a brand recognition. This is a good step to introduce the brand to the customers because they will not know there is a new brand coming out unless they have the information. 1.3 THE PLACE ITS DISPLAY Sometimes, this banner is put in the website in the corner of the page with a variety of size. The common one is 480 x 60. It is easy for people to read it in this size but nowadays the size become smaller and smaller because people are hated to see the pop-out ads. 1.4 EXAMPLE Example of banner ads from ADIDAS. 2.0 SKYSCRAPERS 2.1 OBJECTIVE The objective of building a skyscraper to get the greatest measure of usable space out of the littlest measure of area. By building a building with many stories to it, the area space on which the building sits is duplicated by the greatest number of floors as the building can bolster. On the other hand, put another way, if the majority of the floors on a skyscraper were put at ground level, the building would possess a horrendous parcel of space. 2.3 IMPORTANCE Basically, this ads also has the same interest as banner ads which is to build the brand recognition but this type of ads give more information...
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...Viral marketing, viral advertising, referring to marketing techniques that use pre-existing social networking services and other technologies to try to produce increases in brand awareness or to achieve other marketing objectives (such as product sales) through self-replicating viral processes, analogous to the spread of viruses or computer viruses (cf. Internet memes and memetics). It can be delivered by word of mouth or enhanced by the network effects of the Internet and mobile networks.[1] Viral advertising is personal and, while coming from an identified sponsor, it does not mean businesses pay for its distribution.[2] Most of the well-known viral ads circulating online are ads paid by a sponsor company, launched either on their own platform (company webpage or social media profile) or on social media websites such as YouTube.[3] Consumers receive the page link from a social media network or copy the entire ad from a website and pass it along through e-mail or posting it on a blog, webpage or social media profile. Viral marketing may take the form of video clips, interactive Flash games, advergames, ebooks, brandable software, images, text messages, email messages, or web pages. The most commonly utilized transmission vehicles for viral messages include: pass-along based, incentive based, trendy based, and undercover based. However, the creative nature of viral marketing enables an "endless amount of potential forms and vehicles the messages can utilize for transmission",...
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...methods to specifically target them. However, in 2003 BK found itself in a situation where they were alienating their main customers by not focusing on them, the “super fan.” Since the “super fan” accounts for more than fifty percent of total sales, it made a lot of sense for BK to attempt to get back into good standing with this segment of the population. People tend to visit restaurants in groups and BK knows this. Therefore, by attracting their biggest fans back to the stores they are in turn also attracting their family and friends whom they share a meal with. By focusing on a more targeted audience to advertise to BK did risk losing some customers in the process, but the net net gained a larger more loyal customer base. Why is viral or buzz marketing effective? Analyze the design of the Subservient Chicken Web sites message, including content, structure, and format. What can you conclude from this analysis? How can you not go eat at a restaurant that brings you the subserviant chicken?...
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...Social Advertising Social media exists in the context of communities that are built of people who develop and nurture relationships by creating, co-creating, sharing, commenting, and engaging in content (Tuten, 2008). Advertising on such social platform is what accounts to social advertisement. Most of these communities are made up by our sponsors, believers, assistants, coaches, cheerleaders, and friends. Advertising has always been a means of mass communication with a great persuasive force. Thus with the current up rise in social networking in the current world, many advertisers are now turning their heads towards social media and networking. There are various social benefits from advertising that are explained as follows (Kaptan, 2003). * Increased social awareness: Social advertising has created much awareness for certain problems faced in the society today such as virtual eco-rallies and such protests instead of blocking down the streets and such. * Faster informational reviews on newer products: The information reviews and critics have reached the consumers faster than the products itself, along with their availability in the market, creating decision options for consumers. * Advertising is Entertaining: Social advertising is also considered as entertainment for some but its goal is not to entertain but actually to move communities through the hierarchy of response so they purchase, subscribe and become loyal to the brand. Along with these benefits, social...
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...E- Business QRT Task 1 Craig Foreman April 18, 2014 Western Governors University A1. Viability of Product or Service A local business named K9 College is well known in the community for providing expert dog training. Customers can choose to participate in training that ranges from basic obedience to complicated areas such as training assistance animals for the handicapped. The most popular training option available to customers is agility training, a sport in which dogs are trained to compete on an obstacle course and points are awarded for time and accuracy. K9 College has always provided a limited product line. Dog toys, leashes, and grooming supplies are available for purchase in the training facility, but with the increasing popularity of agility training dog owners are asking to purchase the obstacles for practice at home in preparation for agility events. K9 College has started to stock a small inventory of obstacles that can be purchased at the training facility. Dog agility events are increasing in popularity nationwide and K9 College participates in events held in many different venues across the country. Because of their training background, K9 College is invited to present workshops during events to help beginners learn the basics of the sport and give experienced participants an opportunity to hone their skills. With this increasing exposure, K9 College is seeing a steady increase in the amount of traffic visiting their website and Facebook...
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...From an analytical prospective, explain why do you think PayPal has been so successful throughout the world? PayPal had become the largest, faster and secure online payment system. It is founded in the year 1998 that provided services of transfer money from one another via internet. It started to provide internet payment services in 1999. At first PayPal named as Confinity. In 2001, the name had been changed from Confinity to PayPal. Unluckily, in 2002, eBay successes bought PayPal with US $ 1.5 million. Now, PayPal can said as successful online payment system which recognised by everyone around the world. It is because PayPal have more than 132 million active accounts and operates in 193 worldwide markets. Also, PayPal providing 26 currencies around the world that enabling customers to send, receive and hold funds. PayPal a successful globalization services handled around 8 million of payment every day. In 2012, PayPal which is under eBay organization had contributed 40% of eBay Inc’s revenues. (PayPal, n.d.) PayPal can be said as the leader of secure and convenience online service. It is because PayPal have many year experiences in this field and cooperate with many partners for survival. (Paypal Introduction, n.d.) To sign up an account of PayPal is very easy and fast its only takes few minutes. Customers must provide a valid debit or credit cards number and linked it with own account. PayPal not only a platform for transferring money to sellers, it also can be used...
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