This presentation discusses the various aspects of branding strategy and focuses on community branding and its benefits. It explores the use of social media and crowdsourcing in building a brand community.
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Brand and strategy
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Introduction The presentation is prepared to discuss about the brand and various aspects of branding strategy The topic will present an idea about the branding of community and even focus on members associated with sharing systems, values and standards The assignment will include brand leveraging the community branding technique to create awareness among the consumers The internet based groups are also prioritised consisting of crowdsourcing and seeding
Community branding The community branding enables formation of a community according to the customers’ attachment formed to a product or service delivered by the brand It is an effective marketing technique that can analyse consumer buying behaviours and create good connection between the brand and its customers It also stresses on the establishment of brand’s relationship with clients with the inclusion of individual identity and culture as well
Community branding (continued) The community branding has been possible by companies like Amazon, Telstra, etc. through use of CRM software to create connections with the consumers through online channels too The social media platforms are used to engage the clients too, furthermore allow freedom of choices for them This creates more scopes and opportunities to reach local and global markets, furthermore strengthen the customer base too
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Benefits of community branding Community branding managed online has fostered higher level of engagement of clients and even retained the existing customers It is quite cost efficient and is useful for drawing the feedbacks of clients as well as respond to queries asked by the customers The community branding has enhanced trust level and thus the brand image and name have strengthened One suchexamplecan be Inversoft, which is a technology company that created online communities to engage clients together and facilitated development of products based on the information and needs of clients
Build A Brand Community Using Social Media The social media marketing facilitates brand development and created an online community where people can discuss about their needs and preferences For example, Starbucks created an online forum for the coffee enthusiasts for discussing their ideas and opinions The brands have used social media to cultivate a feeling to highlight customers ideas and put those into actions
Social media community branding technique
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Crowdsourcing The are are multiple Internet-based user groups comprising of crowdsourcing as well as seeding The crowdsourcing has been made possible by the brands through acqusitions of consumers’ inputs ad using a software to focus on the productivity of business with the engagement of individuals altogether. The businesses have been benefited by leveraging the creativity and management of resources, which has further helped in developing innovative marketing techniques and conduct research and development activities too.
Crowdsourcing(continued) It has reduced the labour related expenditures and improved production level Woolworths has used crowdsourcing activities to actively engage the clients and create good communication to understand the clients’ needs and preferences On such example could be the Amara website where videos from different hosting websites are posted and added with subtitles for easy accessibility to deaf and learning disabled people, furthermore reach wider audiences
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Seeding The seeding on the other hand, facilitates online engagement to create interaction among memebrs and allow for entering market with ease While crowdsourcing is limited, the seeding has enabled brands to acquire a critical mass of memebrs who could help the community to become self perpetuated High traffic is generated for brands like Amazon
Seeding (continued) It facilitates intrinsic motivation through use of Google analytics and even motivating the users to generate higher content It has also kept the consumers of Woolworths, following the seeding approach, remain motivated through various offers and discounts provided by the brand.
Bibliography Bayus, B. L. (2013). Crowdsourcing new product ideas over time: An analysis of the Dell IdeaStorm community.Management science,59(1), 226-244. Bruton, G., Khavul, S., Siegel, D., & Wright, M. (2015). New financial alternatives in seeding entrepreneurship: Microfinance, crowdfunding, and peer‐to‐peer innovations.Entrepreneurship Theory and Practice,39(1), 9-26. Hajli, N., Shanmugam, M., Papagiannidis, S., Zahay, D., & Richard, M. O. (2017). Branding co-creation with members of online brand communities.Journal of Business Research,70, 136-144. Teece, D. J. (2018). Business models and dynamic capabilities.Long Range Planning,51(1), 40-49. Wang, Y., & Hajli, M. (2014). Co-creation in branding through social commerce: The role of social support, relationship quality and privacy concerns. In Proceedings of twentieth Americas conference on information systems, Savannah, Georgia.