This case study explores the use of digital marketing analytics by Li & Fung, a leading supply chain management organization. It discusses their marketing objectives, strategies, and the role of digital in their success. The study also provides recommendations for improving their digital marketing efforts.
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PROJECT COVER SHEET Postgraduate Diploma in Digital and Social Media Marketing Postgraduate Diploma in Fashion Marketing and Management Postgraduate Diploma in Luxury Services and Brand Management Name of Module :Digital Marketing Analytics Project Title:Project 1 – Case Study Student’s Declaration The attached project is my own work, and has never been submitted for assessment on any other course before.Proper reference has been made to all sources published or unpublished works and the ideas of other persons.
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Table of Contents Background and Introduction..........................................................................................................1 Situation & Competitive Analysis..................................................................................................1 Marketing objective.........................................................................................................................3 Marketing strategy & role of digital................................................................................................3 Digital tactic.....................................................................................................................................4 Discussion & Recommendation......................................................................................................5 REFERENCES................................................................................................................................7
Background and Introduction Li & Fung is the world's leading organisation dealing in consumer good supply chain management and engage in the management of supply chain for retailers and brands worldwide. Company operate their functioning with having headquarter in Hong Kong. In addition to this, entity provide their services with more than 80 offices in 40 more than economies. Further it has been identified that organisation offer their services with having more than 17,000 employees and 12,000 international suppliers (Li & Fung Limited - Company Profile, Information, Business Description, History, Background Information on Li & Fung Limited. 2019). Company was founded in the year 1906. Organisation operate their services in one of the most all-embracing global supply chain network.Main products of entity include health and beauty products, apparel, toys, furnishing and household goods. It has been identified that over 113 years, despite of facing number of disruptions as well as changes company tend towards continuing their business with creativity and innovation. In addition to this, it has been identified that company effectively offer their services to customers with constant experiment in order to develop new ways to satisfy customers need. Li & Fung significantly moved from traditional media to digital media as to offer their services to customers in best effective manner while ensuring that they fulfil their objectives within specified period of time. This is the main reason for choosing this case study as the workplace structure of organisation have employees with different background but they all have same thing is common which is to have innovation, commitment, design and teamwork in their activities as to delight customers with best effective services. Along with this, it has been determined that Li & Fung deliver their services by staying committed towards their principleofgoodcorporategovernancethatmainlyemphasizetowardsindependence, transparency and accountability with the help of this company effectively look forward to increase shareholder value. In addition to this, this case study is duly been undertaken as this company effectively embrace their services with the help of implementing digital activities and measures. Situation & Competitive Analysis SWOT SWOT analysis is a strategic tool that significantly aid an organisation to identify their strength, weaknesses, threats as well as opportunities in order to further overcome them as to 1
gain more competitive edge within marketplace. Mentioned below there is SWOT forLi & Fung: StrengthWeaknesses Companyhavereputedbrandimage and name in industry. Li & Fung offer their services with havingwelleducatedandinformed management. Organisationhavetightlyunified supply chain management along client base. It has been identified that Li & Fung have effective ability to perform their operationsinbothsoftandhard markets. It has been determined that Li & Fung lacks in gaining knowledge of other competitors in same industry. Companyhaveweakfinancial management that hamper many of their operations. ThreatOpportunities Withhavinglargenumberof competitorsin same market segment organisation may face some issues and threats as to effectively operate their functions in well defined manner. Withthehelpofdigitalmarketing organisationcaneffectivelyableto havemoreefficientsupplychain management system. With the help of expansion organisation can effectively able to increase their sales and profitability ratio. Target customers Li & Fung operate their services in best effective manner and have worldwide retailers as their targeted customers. In addition to this, as company already perform their services with thousands of vendors and supplier with leading retailers and brands but company is looking forward to work with more high rated brand in marketplace. 2
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Digital platform used In their Three-Year Plan, Li & Fung is looking forward to stimulate their supply chain with speed, digitalization and innovation. In this with the help of stimulating speed in their supply chain organisation is looking forward to satisfy their fast fashion retailers. As it has been identified that in today's modern world speed is counted as a first thing that customer now a days look towards (Li & Fung speeds digital strategy with new hire. 2019). In addition to this, as per according to Li & Fung Group CEO Spencer Fung, in order to gain more competitive advantage in this even-faster world company is focused upon strategic investments that leverage new technologies, optimize processes and connect the dots of our digital supply chain. Along with this, with the help of fully-integrated digital platform company is effectively looking towards make strong connects with customers, supplier and other partners with end-to-end visibility. In addition to this, in order to promote their services company take advantage of different digital platforms like, Facebook, Search Engine Optimization (SEO), Email Marketing, Pop-under Advertising, Pay-Per-Click Advertising and Affiliate Marketing. Marketing objective Main aim that has been hold by digital marketing is to keep consumers and further stimulate sales in future. Li & Fung undertakes digital marketing to create consumer demand by taking use of power of interactive and interconnected web. The marketing objective that has been laid down by Li & Fung in their three-year-plan states that company is duly focusing towards creating the “supply chain of the future”. With this marketing objective organisation is looking forward towards reducing lead time and making significant improvement in speed-to-market. With the help of speeding up supply chain organisation can effectively able to satisfy their customers with best. Company is looking forward to take use of online survey, search data, social interaction like Facebook, discussion forum as to increase efficiency of their operations. Marketing strategy & role of digital Primary marketing strategy of Li & Fung is to build the LF Digital Platform which is mainly a fully-int digital platform and duly connects suppliers, customers and other partners in best effective manner (Morehouse and Saffer, 2018). In addition to this, company is looking forwards to accelerate their digital strategy in order to effectively serve their customers. In addition to this, it has been analysed that role of digital play most important function as it with the help of this platform, vendors can upload products, update their profile and significantly 3
respond towards alerts that all Li & Fung partners are also able to see (Gulati, S., 2019). Along with this, documentation as well as records are stored online that are further being seen by all involved parties. With the help of this, transparency can be significantly improved and customers can be served in best effective manner (Saura, Palos-Sanchez and Correia, 2019). In addition to this, as per accordance with Li & Fung CTO Manuel Fernandez, Li & Fung is looking towards building a fully digitalized platform that is at the heart of the digital supply chain of the future. Digital tactic Management of Li & Fung undertake strategies to develop new generation of digital solutions in order to help their partners as well as suppliers as to revolutionise their supply chain. While in their Three-Year-Plan company is mainly keen towards digitalization, speed and innovation as to make further increase speed of customers supply chain in well defined manner. In addition to this, company is looking forward to take use of different types of applications of digital marketing such as advertising medium (like online video ad, display banner) direct 4 Illustration1: LF Platform
response medium ( Search engine marketing) customer service mechanism ( self serve, real-time customers) in order to grow sales and create brand awareness. Discussion & Recommendation As per the above mentioned report it has been identified that, Li & Funga Hong Kong based organisation offer their services as supply manager mainly for EU and US top stores, speciality stores, department stores, e-commerce sites and catalogue stores. Company deal in Supply chain management and offer their services worldwide. It has been identified that organisation operate their services with having partnership with their consumers and effectively serve them with qualitative and on-time delivery along with ethical solutions. In this as to effectively gain more competitive advancements company is required to efficiently manage their logistics of exporting and producing goods across many counties and producers with the help of digital solutions. In this organisation is recommended to take advantage of different types of social media and digital platform as to serve their customers and partners with best and fast services. In addition to this, it has been duly recommended to company to increase knowledge and skills of their management by offering them regular training and development measures. This will not only benefit company to increase their work efficiency but also aid them to increase performance of their employees in best effective manner. This will duly ensure organisation to make significant increase in their productivity and profitability through which company can ensure their long term sustainability in marketplace in well defined manner. Along with this, company is also recommended to take advantage of updated technology in order to serve their customers in best effective manner. Further it has been identified that with the help of digital technological measures company can not only able to serve their customers in well defined manner but also ensure effective functioning with their partners. Thus, it has been determined that digital marketing acts as key essential element for organisational success forLi & Fung as with the help of this company can effectively able to manage their services worldwide in well defined manner. In addition to this, company is being recommended to take advantage of internet as to to duly offer their digital products. In this company by taking use of owned digital channels user behaviour data can able to increase efficiency of their operations. In addition with this with the help of digital marketing company can provide their customers with additional channels with the help of which consumer can have access to information and further make purchase. In addition to this company is being recommended to undertake use of different advertising 5
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mediums such as online video ad, display banner ad, different distribution channel such as ebook, content, newsletter and software and relationship-building medium in order to satisfy customers in best effective manner. 1.Discuss why digital and content marketing is a key to its success or failure of your chosen case study. You can include comparative case studies to explain different methods used in various organisations to explain, if it is appropriate. As marketing have changed within last few years. Marketers are shifting from traditional ways in which they have to interrupt individuals to market its services. Digital marketing is considered as an umbrella for any kinds of marketing this involves SEO, PPC, social media marketing, email marketing and others. Where as content marketing is defined as the strategic approach which concentrate upon developing as well as distributing relevant, valuable as well as consistent content for attracting and retaining a cleared defined clients or ultimately to drive gainful consumer action. Both is considered as a key to its success this help Li & Fung to offer their services to customers in best effective manner while ensuring that they fulfil their objectives within specified period of time. Moreover, with the usages of online survey, search data,socialinteractionlikeLinkedindiscussionforum asto increaseefficiencyof their operations. So, all these develops respective organisation towards success. Aprt form all these, it also aids them to improve their brand image, reputation, value, attract more number of customers and others. 2.Try to identity some performance metric to facilitatethe discussion, such as facebook fans number, post interaction etc. Post interaction:This represents that how active the fans involve with a post of a page. Moreover it also shows the average amount of whole interactions such as comments, shares for every fan per post. As opposed to engagement rate, post interaction ignores days without any posts. Linkedin Fansnumber:Linkedinfollow feature is an effectual tool who generate the interest of people its skills or knowledge. It is mainly a world's largest professional community. In addition to this, it has been identified that it is consider as one of the most powerful social network mainly for business professionals. In this company with their attractive services ask their facebook as well as Twitter fans to follow theirLinkedIn page. Moreover, it have about 6
2.375 billion fans in about 1.49 billion are daily active users and also it ads around 500, 000new users every day. REFERENCES Books and Journals Taneja, G. and Vij, S., 2019. Dynamics of a Digital Advertising Campaign.Available at SSRN 3308035. Saura, J.R., Palos-Sanchez, P.R. and Correia, M.B., 2019. Digital marketing strategies based on thee-businessmodel:Literaturereviewandfuturedirections.InOrganizational Transformation and Managing Innovation in the Fourth Industrial Revolution(pp. 86- 103). IGI Global. Gulati, S., 2019. Digital Marketing Strategies for Startups in India.Available at SSRN 3317740. Ghai, S. and Rahman, O., 2018. Measuring Effectiveness of Campaigns Using Digital Marketing & Its Impact on Youth.International Journal on Global Business Management & Research,7(3), pp.19-30. Ganev,P.,2018.HOWTOCHOOSETHEAPPROPRIATEDIGITALMARKETING TOOL.Global Business & Economics Anthology,1. Morehouse, J. and Saffer, A.J., 2018. Digital Strategy.The International Encyclopedia of Strategic Communication, pp.1-7. Williams, C.B. and Gulati, G.J.J., 2018. Digital advertising expenditures in the 2016 presidential election.Social Science Computer Review,36(4), pp.406-421. Online Li&Fungspeedsdigitalstrategywithnewhire.2019.[Online].Available From<https://www.just-style.com/news/li-fung-speeds-digital-strategy-with-new hire_id135445.aspx> Li & Fung Limited - Company Profile, Information, Business Description, History, Background InformationonLi&FungLimited.2019.[Online].Available From<https://www.referenceforbusiness.com/history2/82/Li-Fung-Limited.html 7