Positioning
Today companies are all fighting for a share in market. New brands take their share stealing from existing brands. So what are brands all about? Does two brands from two different companies are any different from each other in product features or superiority? The answer is no, its just they are positioned differently. Ask any smoker who is loyal towards Malboro he will say Malboro is different. Is it really different to other cigarettes? It is not if we take a blind test the smoker wont be able to make out any difference. So why Malboro loyalist has to say its different, it is only because of Position that Malboro has created in prospects minds.
Situation Analysis (5 'C)
In order to profitably satisfy customer needs, the firm first must understand its external and internal situation, including the customer, the market environment, and the firm's own capabilities. Furthermore, it needs to forecast trends in the dynamic environment in which it operates.
A useful framework for performing a situation analysis is the 5 C Analysis. The 5C analysis is an environmental scan on five key areas especially applicable to marketing decisions. It covers the internal, the micro-environmental, and the macro-environmental situation. The 5 C analysis is an extension of the 3 C analysis (company, customers, and competitors), to which some marketers added the 4th C of collaborators. The further addition of a macro-environmental analysis (climate) results in a 5 C analysis, some aspects of which are outlined below.
Company
- Product line
- Image in the market
- Technology and experience
- Culture
- Goals
Collaborators
- Distributors
- Suppliers
- Alliances
Customers
- Market size and growth
- Market segments
- Benefits that consumer is seeking, tangible and intangible.
- Motivation behind purchase; value drivers, benefits vs. costs
- Decision maker or decision-making unit
- Retail channel - where does the consumer actually purchase the product?
- Consumer information sources - where does the customer obtain information about the product?
- Buying process; e.g. impulse or careful comparison
- Frequency of purchase, seasonal factors
- Quantity purchased at a time
- Trends - how consumer needs and preferences change over time
Competitors
- Actual or potential
- Direct or indirect
- Products
- Positioning
- Market shares
- Strengths and weaknesses of competitors
Climate (or context)
The climate or macro-environmental factors are:- Political & regulatory environment - governmental policies and regulations that affect the market
- Economic environment - business cycle, inflation rate, interest rates, and other macroeconomic issues
- Social/Cultural environment - society's trends and fashions
- Technological environment - new knowledge that makes possible new ways of satisfying needs; the impact of technology on the demand for existing products.
Information Sources
Customer and competitor information specifically oriented toward marketing decisions can be found in market research reports, which provide a market analysis for a particular industry. For foreign markets, country reports can be used as a general information source for the macro-environment. By combining the regional and market analysis with knowledge of the firm's own capabilities and partnerships, the firm can identify and select the more favorable opportunities to provide value to the customer.
Top 6 Social Media Marketing Goals
Posted by
Ismail Bakshi
| Tuesday, August 3, 2010 |
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Labels:
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social marketing
- Increased Brand Awareness. Creating brand awareness is one of the most common social media goals and an important step in marketing a new product or service. Social media can be used to spread the word about your new product or service offering, and improve public perception of your brand.
- Reputation Management. Ensure that your brand is not being bashed, but in the most favorable light as possible. One negative review or comment could be enough to be disqualified from an opportunity.
- Engagement. Creating a dialog between you and your audience that is engaging while staying top of mind is key.
- Improved Search Engine Rankings. Social media can improve your natural search engine ranking building brand awareness and support multiple brand exposures.
- Increased Relevant Visitor Traffic. Engaged visitors that are familiar with or know your brand are generally more valuable that those that are not.
- Improved online conversion performance. Whether your website conversion is defined as a lead, transaction or new account, social media can contribute to improved conversion performance.
Digital Marketing by two big brands.
Big names, branded merchandise, action figures and A-listers spread across TV, print, and perhaps even the drive-through window at a local fast food restaurant.
But what about online? Below are two brands that implemented targeted and integrated digital strategies, using social media, mobile advertising, search engine marketing and online video.
TOY STORY 3 Promotion. To launch the third installment of their successful Toy Story franchise, Pixar used a combination of online channels to encourage viral sharing and ultimately produce big numbers at the box office. They utilized promoted trending topics on Twitter.com/Disney Pixar and Google video ads featuring the movie trailer which linked to the movie’s facebook page. Customers were also invited to purchase tickets directly through custom applications on mobile and social media platforms.
OLD SPICE Commercial. A non-traditional summer blockbuster has been the re-emergence of Old Spice and the “Old Spice Guy”, Isaiah Mustafa. This campaign illustrates the perfect mix of humor and seasonal messaging in a targeted online video experiment, resulting in tremendous viral awareness. Old Spice capitalized on the campaign’s popularity by filming real time video responses to questions and comments posted on facebook, YouTube and Twitter.
Blockbuster Marketing Lessons You Can Apply Today:
1. Make it easy to view and share your content online.Pixar’s multichannel approach placed movie trailers within search ads on Google, promoted tweets, and facebook creating a large footprint reaching their target audience in relevant places online. Old Spice utilized YouTube as their video platform to leverage the many sharing options and widespread familiarity of the site to make it easy for viewers to share each video.
2. Have a call-to-action. Pixar’s ticketing facebook application was the perfect opportunity to test whether facebook users would engage in purchase behavior when prompted and presented with a unique and well-executed call-to-action. Old Spice’s call-to-action invited consumers to submit questions to the “Old Spice Guy” via twitter resulting in recorded responses being published via YouTube, fueling further sharing and brand engagement.
3. Match your message to the online medium. Old Spice considered the benefits that social networking provided and capitalized on them to engage customers and create brand loyalty in a whole new way. Their online content, messaging, and calls-to-action were unique and effective; while avoiding the common mistake of simply re-purposing tradtionial creative.
But what about online? Below are two brands that implemented targeted and integrated digital strategies, using social media, mobile advertising, search engine marketing and online video.
TOY STORY 3 Promotion. To launch the third installment of their successful Toy Story franchise, Pixar used a combination of online channels to encourage viral sharing and ultimately produce big numbers at the box office. They utilized promoted trending topics on Twitter.com/Disney Pixar and Google video ads featuring the movie trailer which linked to the movie’s facebook page. Customers were also invited to purchase tickets directly through custom applications on mobile and social media platforms.
OLD SPICE Commercial. A non-traditional summer blockbuster has been the re-emergence of Old Spice and the “Old Spice Guy”, Isaiah Mustafa. This campaign illustrates the perfect mix of humor and seasonal messaging in a targeted online video experiment, resulting in tremendous viral awareness. Old Spice capitalized on the campaign’s popularity by filming real time video responses to questions and comments posted on facebook, YouTube and Twitter.
Blockbuster Marketing Lessons You Can Apply Today:
1. Make it easy to view and share your content online.Pixar’s multichannel approach placed movie trailers within search ads on Google, promoted tweets, and facebook creating a large footprint reaching their target audience in relevant places online. Old Spice utilized YouTube as their video platform to leverage the many sharing options and widespread familiarity of the site to make it easy for viewers to share each video.
2. Have a call-to-action. Pixar’s ticketing facebook application was the perfect opportunity to test whether facebook users would engage in purchase behavior when prompted and presented with a unique and well-executed call-to-action. Old Spice’s call-to-action invited consumers to submit questions to the “Old Spice Guy” via twitter resulting in recorded responses being published via YouTube, fueling further sharing and brand engagement.
3. Match your message to the online medium. Old Spice considered the benefits that social networking provided and capitalized on them to engage customers and create brand loyalty in a whole new way. Their online content, messaging, and calls-to-action were unique and effective; while avoiding the common mistake of simply re-purposing tradtionial creative.