Social media in marketing

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MMK737 Online Marketing

Workshop 3

Assignment Queries

Assignment 1: The Proposal (1,000 words) Due 2nd April

Individual Assignment: ”Social Media in the Marketing Context
Social media has entered the lexicon of marketing management. But what is social media in the marketing context? How might organisations use social media to meet various marketing objectives? Can you point to examples of sound use of social media in marketing, or perhaps there are examples where social media has been used in ways that could never enable organisations to meet their marketing objectives.

Individual Assignment: ”Social Media in the Marketing Context
Your task is to research three organisational types (for-profit business, not-for-profit organisations, and government) seeking out at least two examples where organisations have embraced social media and integrated this with other marketing tools in order to meet identifiable marketing objectives–preferably with positive outcomes, but perhaps without positive outcomes . You must use secondary data only, unless the information is provided by companies in open forums, e.g., communities of interest. That is, time does not allow us to seek ethics clearance from the university to conduct interviews or use other research methods to collect the information upon which you will base your assignment. Google search and Google Scholar will be of great assistance to you in this task.

Individual Assignment: ”Social Media in the Marketing Context
Assignment 1: The Proposal (1,000 words) Due 2nd April
• You must firstly submit a proposal (worth 10% of the unit marks) via (New) DSO Drop Box. The aim with this approach is to ensure that you have interpreted the task correctly, and have a plan of attack in mind, including where you plan to look for information. It is also designed to ensure that you set out the planned structure of the main assignment (Assignment 2–40%). Be sure to examine the rubrics (basis for awarding marks) for each of Assignment 1 and 2, as they are different. Also, note that you need NOT use Turnitin to check your proposal, but that you should do so for the main assignment. Why? The answer is: to ensure that as you are probably discussing your assignment with others of a like mind, you should ensure that you are not using the work of others without acknowledgement, i.e., by way of citations and references.

Individual Assignment: ”Social Media in the Marketing Context
• Assignment 1 might adopt the following structure in a one-page submission:
1. Introduction 2. Aims of your study 3. Design: Secondary data sources; communities of interest; organisations 4. Anticipated Findings 5. Limitations/implications of your study. 6. Managerial value of your study 7. Theoretical value of your study 8. Originality 9. Reflection on your learning outcomes from the study

Online Marketing Value Adding Strategy

Learning objectives
• Relate Internet marketing strategy to marketing and business strategy; • Identify opportunities and threats arising from the Internet; • Evaluate alternative strategic approaches to the Internet.

Questions for marketers
• What approaches can be used to develop Internet marketing strategy? • How does Internet marketing strategy relate to other strategy development? • What are the key strategic options for Internet marketing?

Michael Porter on the Internet

• ‘The key question is not whether to deploy Internet technology – companies have no choice if they want to stay competitive – but how to deploy it.’

Porter, M. (2001) Strategy and the Internet, Harvard Business Review, March 2001, 62–78.

What is an Online Marketing strategy?
• What is strategy?
– “Defines how we will meet our objectives”

– “Sets allocation of resources to meet goals”
– “Selects preferred strategic options to compete within a market” – “Provides a long-term plan for the development of the organisation”

Online Marketing strategy essentials
• • • (Online) E-marketing strategy is a channel strategy Objectives for online contribution % - sales, service, profitability should drive our strategy E-marketing strategy defines how we should: 1. Communicate benefits of using this channel 2. Prioritise audiences targeted through channel 3. Prioritise products available through channel 4. Hit our channel leads & sales targets – Acquisition, Conversion, Retention Channel strategies thrives on differentials BUT, need to manage channel integration

• •

Figure 4.1

Internal and external influences on Internet marketing strategy

Hierarchy of organisation plans including e-marketing plans
Figure 4.2

Problems if no Online Marketing strategy
1 Underestimated demand for online services

2 Market share loss 3 Resource duplication 4 Insufficient resource 5 Insufficient customer data 6 Efficiencies available through online marketing 7 Opportunities for applying online marketing tols 8 Changes required to internal IT systems 9 Inadequate tracking 10 Senior management support limited

Figure 4.3

Usage of detailed e-marketing plans in UK e-commerce organisations
Source: EConsultancy (2008)

The SOSTAC® planning framework applied to digital Internet marketing strategy development
Figure 4.4 Source: Chaffey and Smith (2008)

Figure 4.5

Dynamic e-business strategy model

Source: Adapted from description in Kalakota and Robinson (2000)

Figure 4.6

Levels of website development in:

(a) the information to transaction model and (b) the transaction to information model of Quelch and Klein (1996)

Corporate stage model
E-commerce maturity stage
Stage 1. Unplanned Stage 2. Stage 1. Diffuse Unplanned management Stage 3. Stage 1. Centralised Unplanned management Stage 4. Stage 1. Decentralised Unplanned operations Stage 5. Stage 1. Integrated & Unplanned optimised

Strategy process and performance improvement process
Limited

Structure: Location of Ecommerce
Uncontrolled experimentation

Senior management buy-in
Limited

Marketing integration

Online marketing focus
Content: Brochureware Traffic: visitor acquisition Conversion & customer experience Retention

Discrete

Low-level objectives Specific organisational objectives Refined online channel improvement Integrated multi-channel improvement

Diffuse

Aware

Common initiatives Annual planning collaboration Partnership

Centralised

Involved Driving performance

Decentralised

Integrated

Integral

Complete

Whole lifecycle optimisation

Source: E-consultancy (2005) report ‘Managing an E-commerce team’ Author: Dave Chaffey

A generic Internet-specific SWOT analysis showing typical opportunities and threats presented by the Internet
Figure 4.7

Grid of product suitability against market adoption for transactional e-commerce
Figure 4.10

(online purchases)

Internet marketing benefits
Tangible benefits

Increased sales from new sales leads giving rise to increased revenue from: • new customers, new markets • existing customers (repeat-selling) • existing customers (cross-selling)

Cost reductions from: • reduced time in customer service • online sales • reduced printing and distribution costs of marketing communications

Internet marketing benefits
Intangible benefits
• Corporate image communication • Enhance brand

• More rapid, responsive marketing communications including PR
• Improved customer service • Learning for the future • Meeting customer expectations • Identify new partners, support existing partners

• Better management of marketing information and customer
information • Feedback from customers on products

Using the Internet to support different organisational growth strategies
Figure 4.12

Figure 4.13

Smile (www.smile.co.uk)

Figure 4.14 (www.ideastorm.com) © 2008 Dell Inc. All Rights Reserved

Dell Ideastorm

Figure 4.15

Stages in target marketing strategy development

Common online targeting options
– Brand loyalists – convert online – Not brand loyal – encourage trial – Most profitable – deepen relationships – Larger companies (B2B) – Smaller companies(B2B) – Key members of the buying unit (B2B) – Difficult to reach using other media

Figure 4.16 Dell Singapore site segmentation Source: http://www.ap.dell.com/content/default.aspx?c=sg&1=en&s=gen. © 2008 Dell Inc. All Rights Reserved

Figure 4.17

Customer lifecycle segmentation

Figure 4.23 Strategic options for a company in relation to

the importance of the Internet as a channel

Flow chart for deciding on the significance of the Internet to a business
Figure 4.24 Source: After Kumar (1999)

Figure 4.25

Channel coverage map

(showing the company’s preferred strategy for communications with different customer segments with different value)

Summary of alternative organisational structures for e-commerce
Figure 4.27 suggested in Parsons et al. (1996)

Figure 4.30

Example of risk–reward analysis

ANY QUESTIONS????
• Break for 10 mins

TUTORIAL QUESTIONS
• Rappa, Michael 2001, ‘Business models on the Web’, Available at: <http://digitalenterprise.org/models/models.html>, accessed 23 January 2012. • Discuss Michael Rappa's Business Models concerning the Web. • Do his models still hold?

TUTORIAL QUESTIONS “Another Kodak moment”
Dawn McCarty Wilmington. Reprinted in The Australian Financial Review, 20 January 2012, p. 35

• Eastman Kodak, the photography pioneer that introduced its $US1 Brownie Camera more than a century ago, filed for bankruptcy protection from creditors after consumers worldwide moved from film to digital technology.The Rochester, New York-based company, which traces its roots to 1880, listed assets of $US5.1Bn and debt of $US6.8Bn. • "They were a company stuck in time," said Robert Burley, an associate professor at Toronto's Ryerson University. • "Their history was so important to them, this rich century-old history when they made a lot of amazing things and a lot of money along the way. Now their history has become a liability." • The company's credit deteriorated as revenue tumbled from traditional film, and the inventor of the Instamatic cameras was slow during the past decade to compete with Canon and Hewlett-Packard in digital cameras and printers.

TUTORIAL QUESTIONS “Another Kodak moment” - cont..
• Moody's Investors Service on January 5 cut ratings on about $US1Bn of Kodak debt with a negative outlook, and cited "a heightened probability of a bankruptcy over the near-term as liquidity deteriorates. • Citigroup agreed to provide a $US950 million debtor-in-possession loan to help Kodak operate during bankruptcy. The loan must be approved by a bankruptcy judge. • "Kodak is taking a significant step toward enabling our enterprise to complete its transformation," chief executive Antonio Perez said in the statement. • The company planned to sell "significant assets" during the bankruptcy, chief financial officer Antoinette McCovey said in a court filing. • Kodak, headed for its sixth annual loss in the past seven years, tried to sell more than 1100 digital-imaging patents and pursued royalties to fund a shift to modern commercial and consumer digital printers. Apply Rappa's models to Kodak? Discuss

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