4-2: Benefits of Social Media Marketing

Why social media marketing can be beneficial for a business and how insights can support a business’s marketing campaign.

Pinterest is a social media platform where people can find inspiration and ideas on events, hobbies and interests. It is image based rather than content based. Therefore, the site grabs your attention immediately with the beautiful images, color schemes and brief to the point descriptions of text. The benefits of your business using Pinterest include; awareness, blog traffic, increased sales, new leads, engagement and discovering what your audience loves (Strong Coffee Marketing, 2020).

Content includes food, travel, home decor, clothing and more. A plus to the site is that it ranges from multiple generations, so you can target a wide range of people from various backgrounds and age groups. Most people believe Pinterest is just for females but it is also for males, however females make up a majority of the audience. Insights can support a business’s marketing campaign because you can discover what your target audience is looking for based on what they are pinning and who they are following. If your company is designing desks and a majority of college aged students are pinning white rectangle desks with no shelving, then you will know that is trending. 

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“Two-thirds of the content saved to Pinterest comes from businesses. And that isn’t just coincidence. According to research from Ahalogy, Pinners are eager to connect with brands. When asked who they would rather follow—their favorite brand/store or celebrity—83% of people said they would prefer to follow the former”

Citations

6 Reasons You Should Be Using Pinterest for Business. (2017, July 21). Retrieved October 01, 2020, from https://strongcoffeemarketing.com/quick-tips/6-reasons-you-should-be-using-pinterest-for-business/

Emma. (2015, September 16). 10 reasons why your business needs to be on Pinterest. Retrieved October 01, 2020, from https://business.pinterest.com/en/blog/10-reasons-why-your-business-needs-to-be-on-pinterest

Role of Social Media

Instagram is a form of social media that uses various tactics in marketing. The options include sponsored ads on posts and stories, product teasers, influencer marketing, interactive branding hashtags and more. Instagram strategies lead to business growth. If you are consistent and focus on a target audience, you will acquire a following. It is important to increase engagement with polls and questionnaires. Along with incorporating giveaways that include commenting and tagging your friends. It’s a great way to get your page and brand recognized.

As for my personal experience, I see a lot of influencer marketing and advertisements between posts. The advertisements are usually targeted towards me as well For example, if I am googling sneakers then the next day I will notice advertisements of shoe and fitness brands. The marketing is reflected in my personal life because I am being exposed to new products and information regularly. If I am scrolling through my feed, then I will come across countless ads. Even my friends accounts who are not influencers or sponsored posts will still influence me with their own style. A lot of people tag brands regardless of being paid or not due to questions in the comments or for their own exposure.

As stated in social insider, “Think outside the box! Don’t hesitate to try out new things, but be mindful and aware of your audience’s needs. The newsfeed algorithm of all social media platforms keeps changing. So, whatever worked for you last week will probably not work for you the following week. Make sure you’re up to date.”

Citations: https://www.socialinsider.io/blog/how-to-create-an-instagram-marketing-strategy-for-your-business/

Marketing Implications

Instagram, an app that was originally described “to make mobile photographs simple and beautiful” is now the most successful and used social platform to date. Stanford University students Kevin Systrom and Mike Krieger decided to start an app that is communication with images. It originally started off as an app called Burbn, focused on location and turned into the platform it is today.

As for marketing implications, the tactics that are specifically used include instagram paid advertisements between posts and advertisements with influencers. A lot of my inspiration comes from fashion or beauty bloggers. I usually hear of a product and want to purchase it once I see it on Instagram. For example, I follow the fashion model Miranda Kerr who started her own health and beauty line. She provided videos, tutorials and photos of her products. I was immediately influenced, I have been using her exfoliator scrub for the past three years. Her social media marketing reached to me on a new level.

As for personal connections, I am in the fashion industry and I promote products not just online but in person or for brands specifically. I have to make sure my Instagram remains professional but also personal so I gain followers. It is tough because I cannot use my Instagram for social purposes, everything has to be for my promotion or business. However, I try to personalize it and post what I want and focus on my mental health and happiness. Since that is my message and what I believe. I think it’s more beneficial to stay true to yourself online because when you do love a product and want to share it with your followers, they will believe you.

SMART GOALS

As stated prior, clear goals are essential to the fundamentals of business. A marketing strategy is important for your future success, however your goals need to be outlined in order to be effective. It is also important not to mix up marketing strategy with tactics. Below I outlined the Acronym for SMART goals. It is important to understand your goals when creating your marketing campaigns because you can achieve your goals through the campaigns. If I know exactly what audience I am trying to target and what I am trying to gain as a company, I can gear my advertisements towards that. Do we need brand loyalty? or do we need an increase in sales? These are questions companies should be asking themselves. Ucop.edu stated “SMART goals are meant to address all of your major job responsibilities. Remember, goals are intended to focus attention and resources on what is most important so that you can be successful in achieving your priorities. SMART Goals are goals for your day-to-day job.”

Specific:

A specific goal is well defined and clear. It highlights who is involved in the goal, what the company wants to accomplish, where the goal is to be achieved, when the company wants to achieve the goal and why the company wants to achieve the goal

Measurable:

A measurable goal measures the progress towards your accomplishments. An indicator of progress is established in order to track if you have reached your goal.

Attainable:

It is important to know that your goal is attainable so you can set steps and figure out ways to work towards achieving it. You have to ask yourself what you are missing and what others have done before you to achieve success.

Realistic:

A realistic goal is a goal that is within reach with the time and resources given. Along with that, the company needs to set out aside time to achieving the goal.

Timely:

Overall you need to set a timeline on when you want to achieve the goal. A SMART goal needs a start and finish date for motivation.

Citations:

https://corporatefinanceinstitute.com/resources/knowledge/other/smart-goal/

https://www.ucop.edu/local-human-resources/_files/performance

Green for Profit or Green for the Environment?

• Identify a retail brand that you believe is socially or ethically responsible.

A retail brand that I believe is socially and ethically responsible is Patagonia. They are an American clothing company based in California that focus on outdoor apparel. The company is known to be ethical because of their policies revolving around climate change, toxins, human rights, animal rights, supply chain management and politics.

• How do you believe the company conducts business in a socially responsible way? Support your answer by discussing specific examples.

Patagonia has core values in place that make up their company. The website states, “our criteria for the best product rests on function, repairability, and, foremost, durability. Among the most direct ways we can limit ecological impacts is with goods that last for generations or can be recycled so the materials in them remain in use. Making the best product matters for saving the planet.” Along with that Baptist World Aid Australia published ‘The 2019 Ethical Fashion Report’ in 2019 and Patagonia ranked at an A overall. The report graded over 130 companies and highlighted forced labour, child labour, supply chains and environmental policies.

• Has the company ever been involved in any incidents in which they were accused of not conducting business in an ethical or socially responsible manner? If so, briefly discuss the legal issues related to the incident(s).

The company has had issues with Animal Welfare and Four Paws as they were once called out for their inhumane treatment against birds. Patagonia is known for using recycled wool and down feathers in their products and materials. However the company responded to the accusations and now works alongside Animal Welfare to make sure their company and other companies are practicing safely.

• Do you feel the company is “green” for profit or “green” for the environment?

I truly believe that the company is “green” for the environment because they were one of the first companies to make a statement about sustainability before it was trending. They are a company that is known for outdoor and adventure, which involves the planet. Their mission statement revolves around setting the bar high and taking care of the earth we live on. Good on your writer Isobella Wolfe stated, “patagonia is taking impressive action to reduce its environmental impact. All of its cotton is certified organic by the Global Organic Textile Standard (GOTS), and it is bluesign® certified for 56% of its fabrics. A high proportion of its materials are made from recycled fabrics, including its polyester, nylon, and wool. Patagonia belongs to both the Sustainable Apparel Coalition and 1% For The Planet. It rejects fast fashion by creating high-quality, long-lasting products, and offers a repair and reuse program. It even goes so far as to discourage customers from purchasing too many of its products.“

Citations:

https://www.ethicalconsumer.org/company-profile/patagonia-works

How Ethical Is Patagonia?

5-1 Blog: Top Dog Versus Underdog

I chose the brands Energizer and Duracell, known as AA rechargeable batteries. They can be used in your remote controllers, clocks, calculators and more. Energizer has been around since the 1800’s while Duracell emerged in the scene around the 1960’s. Yet, Duracell maintains a huge share of the market and is considered Energizers number one competitor.

• What is the brand strategy being used by the top dog? What is the brand strategy being used by the underdog?

The brand strategy being used by the top dog consists of the recognizable Energizer Bunny. They have an iconic brand image that is incorporated in advertisements and packaging. While Duracell, the underdog focused on the product itself rather than the marketing. They clarified how their product is “made to last” and has a longer shelf life. Overall, a brandy strategy conveys what your brand stands for, what promises your brand makes to customers and what personality your brand conveys through it’s marketing.

• How can the underdog improve its strategy so that it can gain more market share and surpass the top dog? Provide three recommendations.

The underdog, Duracell can improve its strategy so it can gain more market share and surpass Energizer by focusing on branding, imaging and rememberable campaigns. They could also focus on new forms of marketing platforms such as Youtube, TikTok, Instagram and Twitter. The traditional forms of advertising includes magazine ads, billboards, tv ads and radio ads.

• Why do you believe consumers prefer the top dog over the underdog? Which do you prefer, and why?

I believe consumers prefer the top dog over the underdog because of familiarity and comfort. If the Energizer Bunny is recognizable and has been around longer, a lot of consumers will remain faithful to that brand. However, I prefer Duracell because I personally think the Energizer bunny comes off childlike. If I am purchasing cereal for my children, I’ll go for a mascot. However, If I am purchasing batteries for my hearing aid I would rather go for a brand that comes off adult and reliable.

2-1 Blog: Under Armour: Where Do We Go From Here?

• In the case study article, what market segments were identified and what segmentation strategies were implemented?

The case study article “Under Armour’s Willful Digital Moves” highlights Under Armours “I Will What I Want” Campaign and the desired target market. The company wanted to reach the number two spot under Nike and beat out Adidas. I found the article interesting and was even moved by the campaign’s message. As a women in my early twenties, this marketing campaign spoke to me and made me gain a newfound respect for the brand. Marketing segmentation was implemented through identifying a target market, positioning and tailoring the needs and wants for that consumer.

• What do you believe are four to five key points to remember when implementing segmentation strategies?

Four to five key points to remember when implementing segmentation strategies include demographics, psychographics, geographic and behavioral segmentation. Demographics outline the age, sex, income and religion. Psychographics outline the social status and lifestyle. Geographics outline the land and living areas. Lastly, behavioral segmentation outlines the product use and brand loyalty. All of these are important for segmentation strategies so you know your market and where to target or make changes. It is important to separate your market into groups so you can highlight the needs and interests of purchase behaviors. Along with that, your segments need to be significant, differentiable, stable and relevant. Chapter two stated, “market segmentation allows a company to efficiently focus resources and efforts by avoiding those parts of the market it cannot satisfy well, thereby avoiding unwieldy competition.”

• Identify a new market segment that you have noticed recently (during your own shopping experience online, in a commercial ad, or in a secondary resource such as a magazine) that you believe would be a great market to explore. How might you create a segmentation strategy to reach this new market segment?

Recently, due to the coronavirus and global pandemic the health and fitness markets have been needed by consumers everywhere. People are now at home and focusing on their self care routines which include beauty and fitness products. At home workouts and equipment, face masks, loungewear and fitness clothes are demanded. I would personally love to explore this market because it is helpful to our society. I think the most important messages and advertisements are the ones that show authenticity. Recently, a fitness brand I follow created an advertisement for their workout apparel. However, they included a blog post with an at home workout routine to follow. The model in the ad demonstrated the workouts while wearing the apparel. Even if you cannot afford the clothes at the moment, you are gaining something out of visiting the site and being loyal to the brand. In return, the brand is being loyal to you by showing they care.

1-2 Blog: Consumer who? Consumer You! (Consumer Behavior 20EW5)

• What type of consumer are you?

I vary between being a loyal consumer and a need-base consumer. I will only use one brand and stay true to it if I genuinely feel like they are right for me. Along with that, I will promote a product or a brand to my friends and on my social media once I know they are of high quality. However, if I am in need of something specific and cannot afford my desired choice or my first choice is out of stock then I will resort to trying something else. For example, I love reformers pilates at a workout. If I can afford a specific studio that I love then I will invest my money. But if I am in need of the workout and another local studio is offering a deal for half the price, then I will alter my routine.

• What influences your buying decisions, and how?

My buying decisions are influenced through social media, what is currently trending, what I need and what is currently going on in the world. Social media plays a main role in influential relations as trends are highlighted regularly. It is easy to find out what your favorite celebrity or style icon is wearing with just a click of a button. Every page I follow inspires my style and what I want to wear as well. However, I added what is currently going on in the world because of the coronavirus pandemic. Usually, I am influenced easily to make unnecessary purchases. But now I am reevaluated my spending habits and buying decisions. As much as I’d love to buy the sun dress my favorite fashion blogger is wearing in her instagram post, I do not see the point. Instead, I am purchasing lounge wear and workout clothes.

• Which stage actually leads to your purchasing decisions?

Evaluation of choices usually leads to my purchasing decision. Once I already know what type of product I need and want and have the information in front of me, It just comes down to picking the brand. If I know I need a blender, I have several choices of what type of blender. The information of quality, style, longevity and price is all in front of me.

• When making a buying decision, how are you influenced by marketing research and marketing design?

My buying decision is influenced initially off of the marketing research. The information on the product is more important to me. However, the marketing design will help you with your first glance and your last buying choice. If two products have the same quality but one looks physically better, I will go with the more visually appealing item.

• Do you experience any post-purchase behavior?

Yes, it is very common that I experience post-purchase behavior. When I first purchase a product, I ask myself if I needed to make that purchase. Then when I first wear or use the product I decide on whether I am truly satisfied. Especially, if it is a piece of clothing that I did not try on in the store.

Preliminary Findings and Limitations

Nikes objectives consist of numerous aims as it is one of the largest athletic apparel manufacturers in the world. The market research that I have compiled so far consists of demographics, psychographics, geographic and behavioral factors of my target market. Nike stated on their website, “Nike’s purpose is to unite the world through sport to create a healthy planet, active communities and an equal playing field for all. These are more than aspirations – they are foundational priorities that shape decisions across every aspect of our business.” Therefore, providing rollerblades for students to learn or practice is one aim to provide towards the companies overall objective.

The industry trends that I have identified regarding my product proposal, include rollerblading and rollerskating rapidly growing as an industry by 2025. Each year the demand for rollerblades has increased, as indoor skating rinks become a hangout and night activity. It is a future trend, the new movies. It has been previously labeled as an 80’s workout, but our timing is correct as everything comes back full circle. I think it is important to create rollerblades with a modern twist. Therefore, I am introducing a rollerblade that detachable. You can wear the shoe as a regular shoe or you can attach the blade and wear it as a rollerblade.

My proposed marketing strategy aligns to legal, ethical, and industry standards because all safety precautions will be thoroughly analyzed prior. The product and the marketing strategy will go through several teams, to make sure we are open and aware to all industries. “The ethical standards of an organization have a major influence on how it conducts its business. Business ethics are defined by the behavior standards of management and personnel, and the way in which business is carried out at both a strategic and operational level” (Smith, 2018). Nike has had advertisements in the past that has caused debate, whether that talk was apart of their marketing strategy or not. All of the above will be discussed to give out a strong message and promote our safe product in the best way possible.

The limitations I have encountered for the market proposal for my product include age and location. Rollerblading is an activity that is open to a wide age range. Along with that, you can rollerblade indoors. I am in the process of finding out how popular rollerblading indoors is and exactly the rules and regulations that go along with it. If it is popular, I will have to narrow down specifically what markets I want to focus on first. Start with the top three markets that will have the most success and see how they turn out before expanding to the other markets.

Final Project Review

MKT-337-Q3269

1.) I chose the American sportswear company Nike for my project because of the corporations inspiration to the world. Nike is the largest marketer of athletic footwear with over 22,000 retailer accounts. Nikes mission statement is to “bring inspiration and innovation to every athlete* in the world.” Later adding that if you have a body then you are an athlete. Overall, I love the corporations authenticity with its recent social statements and movements.

2) A new product I would launch would be Nike rollerblades. Recently, I was looking to purchase a new pair of rollerblades and I struggled finding a brand I recognized along with a style I loved. Since Nike strives in the footwear department, I feel like they should be making a form fitting rollerblade for everyone. Since I have defined my objective, I would start by determining a research design. I would then craft my questions and experiments. What is more important, the blade or the shoe part of the rollerblade? Comfort or endurance of the blade. Flashy style or simplicity? I would collect data through questionnaires and personal tests. Lastly, I would analyze my data and then communicate the findings.