One of the key takeaways from the sixth chapter “Who Own Your Brand?” is collective branding, the concept whereby the consumers as well as the marketers together shape the brand image. Which has been primarily facilitated through technology, which has given the customers the power to influence theory decisions and buying behaviors. Consumers have become much more conscious of their purchasing decisions and how they spend (jelly beans). Therefore, marketers have to acknowledge this change and make sure they adapt accordingly as well as work with the consumers. In addition, social media can have tremendous influence on consumers purchasing decisions. If there is one well-placed video, picture, advertisement, tweet or comment that goes viral or starts trending, millions of potential consumers can be influenced to purchase the product. This can be strengthened when a celebrity uses a certain product and posts it on a social media platform. Even though this does not give the consumers the control of the retailer’s brand’s decisions, it can have a tremendous influence on the outcomes for the brand. Therefore, this new level of consumer power to influence and connections made through social media have created three fundamental behaviors, “honesty, illumination and immediacy that a retailer needs to implement.
Another key takeaway for me in chapter eight of the Retail Revival was the concept of the “Third Shelf”, whereby a retailer has to figure out “how to grow market share
For over a hundred years, the H. E. Butt Grocery Company stores have provided people in Texas and Mexico with superior products and service. Headquartered in San Antonio, Texas, H-E-B was the 11th largest grocery chain in the United States. Florence Butt founded the company in 1905 with a $60 investment. A few generations later and four failures later, Charles Butt became president of the company in 1971 and took the family name to a higher level.
Social media has become an influential ground for consumers to share their opinions about a company’s brand and products. In addition, it helps in having a strong brand that produces positive relations and distinguish the brand from competitors, is a critical component for effective marketing. According to Dahlén and Lange (2009) “the quality of the product is not the evident factor when it comes to purchasing a product, the deciding factor depends on how the brand is perceived” (Para. 1). This demonstrates the importance of incorporating social media as a tool to promote brands, allow for interactions, and customer satisfaction by engaging with customers more frequently for feedbacks or reviews. Thus create an opportunity for the company to show its devotion to their customers, and initiate good reputation, which can increase sales. In other words, social media has the ability to upsurge the awareness for businesses as well as the brand.
We aim to return the UK High Street Retail business to its role as Britain's most popular stationer, bookseller and newsagent Our plans encompass improved efficiency through cost savings and margin enhancement, while rebuilding the competitiveness and depth of our product ranges.' (Ms Swann BBC, July 2005)
Creating a highly differentiated and unique identity in the crowded clothing retailing markets on the Jersey Shore boardwalk takes a combination of one-of-a-kind designs, a strong multichannel selling strategy that includes social media and the Web, and a positive in-store customer experience. Retailing is as much about creating a unique in-store experience as it is about creating a differentiated and defensible market identity online (Piturro, 1999). With the assistance and support from Snooki of the popular MTV Program Jersey Shore, the store is called Snooki's Beach Boutique. The URL for the website is HYPERLINK "http://www.snookiduds.com" www.snookiduds.com and as the show has gained popularity, so has the URL, with an offer of $1,000 for it. The ethics of whether to sell it or not is covered in this analysis's, as are the goals and objectives for the website from a marketing and e-commerce standpoint as well. The role of social media including Facebook, Google+, Twitter and other social networks needs to be included in the market plan as well. As the excellent research completed by Charlene Li and Josh Bernoff on the role of social media in re-vitalizing retailing and leading to effective and profitable multichannel selling strategies needs to also be taken into account in the planning and execution as well (Bernoff, Li, 2008).
Social media is an effective media of communication between the consumers and companies. The companies are using social media for improving consumer engagement and brand lift. This essay gives a brief overview of social media platforms and how effective they have been. It shows that the whole marketing concept has undergone radical transformation due to the social media interaction. The essay ends in conclusion depicting what marketers need to take care in order to have successful social media campaign.
Digital media is becoming powerful in the way grocers are communicating and engaging with consumers today. The use of paper, leaflets, newspapers and posters or it can be known as ‘‘traditional advertising’’ is now being switched to digital media platforms. Millennials are utilising digital platforms such as websites, apps and social networking sites as a new way to advertise (The Voice of Food Retail, 2016). Aldi uses Facebook as a form of promotion for advertisement purposes and to increase their brand awareness by providing incentives likewise inspiring followers to interact with their daily posts (Evonimie, 2015). Another social media platform used by Aldi is Twitter in order to interact with shoppers. By interacting through social media,
The marketing industry is an elaborate network that links companies to their consumers, primarily through written communication. The main objective of marketing is to identify trends and patterns in consumer behavior, and utilize the data to influence consumers to purchase more goods. From a macroenviroment standpoint, the general conditions of a market are heavily dependent on global environmental factors. The most significant factor that influences the markets today is technological advancements. Since the release of Facebook, Linked-in, Twitter, and Myspace in the early 2000s, the number of people using social media has increased to over sixty-five percent. The ever-growing dependency on social media platforms, has given marketers the tremendous opportunity to further market potential consumers. Social media marketing is a specific form of marketing that focuses on producing ad content that social media users will post on their own networks. This particular marketing technique is effective because ads and content are created, based on what personal information users post on social media. Firms and organizations that advertise their brands on social media are more likely to increase their customer base and annual revenue. By doing so, companies are able to increase exposure of their brand and widen previous hidden, customer bases. As a marketer, the fine line between right and wrong is often blurred. The amount and
The benefit of social media is that H&M can get out its message and promote its brand by content marketing, while at the same time it can gather, store and interpret huge amounts of data. ‘’Content marketing’s purpose is to attract and retain customers by consistently creating and curating relevant and valuable content with the intention of changing or enhancing consumer behavior.’’ (Content Marketing Institute,
There is no doubt that the customer is king because without customer, there is no business. Today, brand can easily attract or lose customers. With the increasing number of social platform and numbers of creating account, customers’ voices are raised among social media, web sites or forum. In fact, we can observe that, nowadays, customers don’t hesitate to question brands, to congratulate, to criticize and even to require that brand deliver them messages adapted to their profile and their interest. Particularly with
Social media has played a significant role in consumer decision making, including such areas raising awarness, sharing information and opinions as well as postpurchase experience ( Mangold and Faulds,2009). It turns out that consumers tend to trust knowledge and experience shared by other customers on social media more than those opinions reviewed by the manufacturer or the marketer of the product or the service.(Linchi Kowk,2012)
Since social media is so easily accessible to everyone nowadays people don't care to go and grab the latest vogue for inspiration, they will go on their phones and check their instagram, twitter, Facebook or any social media account to see whats trending. In L2's Advanced IQ List, which positions form brands as per their site offerings, online business, computerized advertising and web-based social networking mindfulness, US ladies' dress planner Tory Burch beats understood worldwide extravagance brands, for example, Gucci, Hermes and Chanel. This shows the huge impact the influence of social media can have on the Fashion industry, the world is moving and progressing through social media and those who chose not to utilize this part of technology so widely used, are going to fall behind those who do. People who are very high up in social media have a very big platform to promote and influence others. Nowadays if you have a huge amount of followers you are practically famous with all eyes watching you. Fashion corporations want people who have this huge platform on social media to promote their styles due to the fact people are going to be strongly persuaded to want or to want to look like something if someone they keep up with on social media looks a certain way or wears a certain piece. Fashion trends from all over the world come to meet each other, merge, change and evolve through social media. The concept of the see
In today’s business world, social media is being discussed on a daily basis. This phenomenon has taken over the marketing and advertising industries and has changed the way they handle their efforts to attract customers. There is a big misunderstanding that social media are only popular networking sites such as Facebook and Twitter, but as defined by the Merriam-Webster dictionary, social media are “forms of electronic communication (as Web sites for social networking and micro blogging) through which users create online communities to share information, ideas, personal messages, and other content (as videos).” The rise of these online communities has given companies an opportunity to engage in conversations with their customers. This in
The marketing strategy of branding is not a new concept. A company’s brand is not a logo, or a tag line, but rather the relationship it has with its customer base, it is in essence not how a company defines itself – but how the public defines it. With every interaction and every customer touch point a business shapes its brand identity, and participants in this exchange are known as a brand community. Where the development and monetization of the internet have allowed businesses to expand into new forms of customer engagement, these types of online interactions can be the deciding factor in a consumer’s ultimate decision to purchase and/or become brand ambassadors. Through research on business’ social media strategies, cultivating online communities and curating content via corporate websites and paid advertising I hope to discover how this type of business to consumer communication supports and replacement to the in-person shopping experience. Additionally, how these types of communications weigh against a consumers ultimate decision to purchase, focusing how these online communications is utilized as a means to expand consumer brand interaction
Social media is capable of connecting a brand with its consumers and discover how they are being perceived, it also has the power to change perceptions and identify the key people within the business network. The unique feature of social media is that it can provide corporations and businesses solutions developed through operating with consumers and stakeholders. Basically, social media serves as a visible connection to one’s corporation and its stakeholders, consumers, suppliers, etc, who each have a defined role within the system to filter and regulate information. As mentioned earlier, the influence of social media is spreading in a proliferative pace that has resulted to an essential transformation in society, technology and business customs.
In recent years, social media has become the best available option for brands to communicate with prospective consumers. In other words, social media is an opportunity for brands to transcend the traditional middleman (Neti, 2011). One of the many positives is that companies can build their own brand communities easily on the social media. There are some obvious benefits of brand communities which are facilitating information sharing, spread the history and the culture of brands, providing help to customers, and positively influencing brand loyalty (Laroche, Habibi and Richard, 2013).