Benefits and Drawbacks of Social Media for Modern Businesses
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This article critically analyzes the benefits and shortcomings of social media for modern businesses. It also discusses the advantages and disadvantages of business partnerships with social media platforms like Facebook, YouTube, LinkedIn, and Instagram. Relevant examples are used to illustrate the arguments.
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DIGITAL MARKETING
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Table of Contents INTRODUCTION...........................................................................................................................3 TASK 1............................................................................................................................................3 Critically evaluate PESTLE factors influencing the success of one of their digital marketing campaigns. Use relevant theories to illustrate your answer.......................................................3 TASK 2............................................................................................................................................6 Critically analyse and evaluate what you think are the three key legal issues of Internet usage, taking into consideration ethical issues and the associated laws developed to control the ethical approach to Digital Marketing within the Internet business environment. By using the same organisation in task 1, Illustrate your answer with relevant theory...................................6 TASK 3............................................................................................................................................7 Critically analyse and evaluate the benefits, shortcomings social media can bring modern businesses and the advantages and disadvantages when in business partnership with social media such as Facebook, YouTube, LinkedIn and Instagram. Use relevant examples to illustrate your arguments.............................................................................................................7 These are some disadvantage of when company partnership with social media are discussed below-.........................................................................................................................................9 TASK 4..........................................................................................................................................9 Critically evaluate and analyse the effectiveness of the social web for building brands. Compare two organisations of your choice to demonstrate your arguments..............................9 CONCLUSION.............................................................................................................................12 REFERENCES..............................................................................................................................13
INTRODUCTION Digital marketing is playing a crucial role in this time. Digital marketing using some digitalchannelslikewebsites,socialmedia,searchenginesandmobileapplicationsfor advertising and delivering purpose. Digital marketing is the effective methods through which companies promote their brands, products and services with the help of online media channels. Digital marketing strategies consider as a practice of marketing company goods and services to the customer with the help of digital and online media includes webpages, applications, audio and video. Marks & Spencer company is chosen for this project. Marks & Spencer is a big multinational retailer company. This company providing goods and services from many decades. This company established in 1884. Company headquarter situatedin London. This project deal with digital marketing campaigns and evaluate the macro environmental factors with the help of PESTLE analysis and identify the impact of these factors on digital marketing campaigns. This project also evaluate the three legal issues and associated with digital marketing and also identify the advantage and disadvantages of social media. TASK 1 Critically evaluate PESTLE factors influencing the success of one of their digital marketing campaigns. Use relevant theories to illustrate your answer. PESTLE analysis is necessary to measure external macro environmental factors. PESTLE analysis includes political, economical, social, technological, legal and environmental factors and all these factorsconsider as a outside factors which affects companies. Marks & Spencer is a large British organization which deals with home products, food products and clothing(Chaffey and Smith, 2017).All of PESTLE factors affect the success of the digital marketing campaigns of the company. The explanation are discussed below- Political Factors Political factors includes plans , policies, government policies , stability and taxation , trade etc. These factor affects the external environment of the companies and it consider asa uncontrollable factors. Pricing regulation of the country , free trade are affects positively of company digital marketingcampaigns. There are two importantfactors includespolitical stability and taxes which affects company digital marketing campaigns. Marks & Spencer
company have full support of Government because it is a well established and has a strong historic values(Chaffey, 2019 ). Positive Impact-Free trade is one of the best positive aspect of the political factors with the help of free trade company easily operate to other countries. With the help free trade company easily import other countries products . With the help of free trade, Marks and Spencer easily deliver products and services to the foreign countries so people of other countries purchase and use company products so it influence success fully the digital marketing campaigns. Negative Impact-If the UK government increase tax rate then company increase price of the goods and services which impact negatively on the products selling and digital marketing campaigns also affected. The uncertainty situation over Brexit to a challenge for the Marks & Spencer for the tread regulations and tariffs between United Kingdom and European Unions(Cole, DeNardin and Clow, 2017). Economical Factor Economical factors like inflation rate , foreign exchange, interest rate, wages and exchange rate and growth rate of the country. UK economy isa open economy and largest economies in the whole world. Fi cal and monetary polices are managed properly. This company is also listed on the LSE ( London Stoke Exchange).economical factors affects digital marketing campaign in both way positively and negatively. Positive Impact-Company gives many discounts and offers so that company easily take competitive advantage. Marks and Spenser follow a proper pricing regulation policy so that company attract the customers all over the worldsit influence the digital marketing campaigns. Company set pocket friendly price as compared to their competitors. Negative Impact-Rise in inflation affects the companies products and services price. Financial crises deal to decrease the demand of the product it affects company digital marketing campaigns negatively. Brexit impact the GDP rate of the country(Confos and Davis, 2016). Social Factor These factors consider cultural, health consciousness, population growth rates, age distribution, andsafety and security. Customers buying power affected by this factor through social, personal, regional and cultural basis. Marks & Spencer understand the market and also
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know that what is acceptable or nor by the customers. Digital marketing campaign helps to spread the market allover the countries. Positive Impact-The current marketing trends is about to change and so company offer less expensive cloths in the market. Marks & Spencer come with the new concept, “Ready Meals” it increase the market wider scale and the consumption increase. It consider the huge opportunity for the company through digital marketing campaign (Domazet and Neogradi, 2019 ). Negative Impact-Consumer are choosing high speed rail over airlines on short haul routes. Travelling through airways is the time consuming, before travelling in arrival and departure process. Most of the companies are pop up in the market every year with new trends so the reputation of this company become less trendy brand for younger customers. Technological Factor Technological factors consider change in technology , operations, development. Marks & Spenceris a big company and with the help of technologies company execute their business in online platform.Marks & Spencer focusing on new technology models which helps to opertate business easily. Positive Impact-Marks & Spencer use technology transformation programs that help the company to conduct the business digitally so that company offering their products and services to the diversified customers. With the help of digital marketing campaign company easily reach the local people of the foreign countries. Negative Impact-Most of the time technology give negative impact I the company. technology errorand server problems are consider ion the technological factors which influence the customers buying behaviour(Finotto and Mauracher, 2020). Legal Factor In legal factors, rules and regulation , policies of the government consider. This is a very large company so Marks & Spencer need the proper government to do business.Marks & Spence continuously giving the training to their employees so that they can easily deal with the different countries legal factors and increase sales properly. Positive Impact-Company getting support of the UK government so that company successfully conduct their digital marketing and its campaign. This company came under the public scrutiny.
Negative Impact-Brexit impact negatively on the company market. Environmental Factor These factors consider the environmental need of the company. this factors related to the current condition of the climate and environment. Positive Impact-Marks & Spencer followingenvironmental law so that company easily sustain in the environment. Company made own Green Policy which give good impact on the environments so also help to increase the digital marketing campaign. Negative Impact-Use of plastic bags and carry bags affects the environment. Covid – 19 Pandemic Also Influence The Market And Digital Marketing campaign Badly. TASK 2 Critically analyse and evaluate what you think are the three key legal issues of Internet usage, taking into consideration ethical issues and the associated laws developed to control the ethical approach to Digital Marketing within the Internet business environment. By using the same organisation in task 1, Illustrate your answer with relevant theory. The usage of Internet on demand and it cover all the market. Advance and latest technologies help to promote the products of the company and also enhance the brand value of the company. proper utilization of the internet usage can give the best result and also give a identification to the next level in the whole market place.In this time most of the companies operating their business through online and digital media and also develop the big network. There are many benefits of the internet usage but some drawbacks also affect the whole digital market(Goldfarb,and Tucker, 2019).Marks & Spencer is a big brand and the market value of this company is very high and this company also dealing with the digital marketing platforms to promote and advertise the company products. Some time company also face some legal issues which are discussed below- Three key Legal Issues legal issues create many problems when company use internet on online platform. Three essential legal issues are - Copyright protection issues-The is also consider the most important legal issue. While promoting and publishing content online in websites so its necessary to protect your content. Most of the companies easily copy your company content so its must to the company to use
copyright policy so that no one can easily use company content. Government made Copyright protection Act through which all the company easily copyright to their contents(Heinze and et. al., 2020 ). Privacy issues -When company operate their business in online with the use of internet so company face some privacy issues. This is a most common legal issues which most companies are facing. Company need to focus on privacy of their products and services so that another people can not easily access it. Government build many laws and acts to resolve these issues. TrademarkSecurityIssues–Companyneedaproper trademarkprotectionand security. Not having a trademark protection is a big legal issue in the field of digital marketing. Trademark includes company logo and symbol which present the company all over the web sites and web pages so its must to protect it. Digital marketing is a huge market place so there are many fraud companies also available who access your company site and copy it to make customers fool so it important to protect company trademark. Government made Trademark protection Act so that all the companies who are operating their businesses online with the use of internet can easily protect their trademarks(Key, 2017). TASK 3 Critically analyse and evaluate the benefits, shortcomings social media can bring modern businesses and the advantages and disadvantages when in business partnership with social media such as Facebook, YouTube, LinkedIn and Instagram. Use relevant examples to illustrate your arguments. Social media totally based on the technologies through thoughts , ideas , knowledge and information share. Social media build virtual networks so that it perform their work with the help of internet. With the hep of social media, every one easily communicate. It consider as an low cost tolls which help in social interaction and usage of technology and all the tools related to internet and mobile based. Social media give opportunity to the marketer to launch , promote, deliver their products. Marks & Spencer now mainly focusing on the social media and launching many digital marketing campaign name “It;s On” it is a Christmas campaign for their customers so that people can easily scroll and so shopping Benefits of Social Media
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There are many benefits of social media which companies are taking for running business and increase sales. With the help of social media, company can communicate with their clients and customers more fluently. Social media make easier communication between company and their customers. For modern businesses social media creates many opportunities. With the help of social media, companies easily get their customers feedbacks and many new companies and start ups connect with new people and clients it improve the companies networking which helps for the companies market growth. Most of the companies doing partnership through social media. Through social media platforms companies easily launch and promote their products and impress their potential and and new customers and also track their competitors position in the markets(Liu, Perry and Gadzinski, 2019 ). Advantages of when businesses partnership with social media There are many advantages of when the businesses deals with the social media platforms. Some advantages are discussed below- Increased awareness of Brand –Social media is the most effective platform to increase the brand awareness of companies products. It help to improve their companies products and services visibility. Some social media platform like Facebook, you tubes, Instagram are very helpful to endorse companies brand and innovative products. Social media is also provide opportunities for those businesses who currently entry in market so it make easily for the new businesses to promote their products through Facebook and Instagram so that people will aware about that company and products they are offering so social media is help increased the brand awareness Increase Customer Satisfaction –Some social media platforms like Facebook, you tubes, Instagram and LinkedIn help to create a good networking and communication process.Throughthesemediaplatform,companieseasilyconnectwiththeother companies and generate a huge network. Modern businesses and other companies communicate with their customers and clients and satisfied them with their quick response solution services. Businesses and social media partnership creates massive impact on the growth of the businesses. Help in improve brand Loyalty –Every company want to improve their brand loyalty. This is the main goal of very old and new company. Social media helps to improve the loyalty of the customers. Company keep satisfying the customers needs
so that it help to improve the customer loyal. To get a customer loyalty , companies need to engage with them and also developing a strong bond with them. For instance , company promote products on Facebook and also communicate with thensatisfy them with answers so company create brand loyalty in front of customers(Saura, Palos-Sanchez and Correia,2019). Reduce promoting and marketing cost -In this time Facebook is come up with new marketing features so that modern businesses can do their business and easily promote and sale their company products. All the social media platforms Facebook, Instagram are available to promote their products free so that it help to reduce the marketing cost of the products. Disadvantage of when the businesses partnership with social media These are some disadvantage of when company partnership with social media are discussed below- Security and privacy Issues –It is one of the most common disadvantage of the social media. When a company do partnership with social media platforms like Facebook, You tubes and Instagram so some time company are facing some security and privacy problems it give negative impact on the businesses and the customers. Risk of inappropriate behaviour on sites –In this time most of the people are using social media all around the world so sometime it create risk to deal with the bad people. Sometime customers only doing time pass and waste the time of the company. TASK 4 Critically evaluate and analyse the effectiveness of the social web for building brands. Compare two organisations of your choice to demonstrate your arguments. Social web consider as a set of social relations that engage group of person with the WWW (World Wide Web). It includes how websites and software are established in order tohelp and support and also promotesocialinteraction. The main role of social web is building brand of the company. in this time ,Social web is necessary for the success of the company.Through web- based media, customers can easily convey their voice and insight. Having a strong web-based media appearance permits a brand to generate company associations,and it help to decrease in promotional costs and make deal more effective. Social web is supportive and effective for companies as it helps and companies by communicating information about the product or
services to their customers. As it help to enhance customer base that outcomes areconsider higher productivity, increased sales rate, improved brand loyalty and image. There are some advantages of social web for companies which discussed below - Helps to improve customer base-This is a big advantage of social web which helps Marks & Spencer in building of effective and most influencing brand. With the help of social web, company easily increase the customer base rate which will help to accomplish company objectives .The information related to the businesses products and services are provided to the customers. It will help to create the customers loyalty and increase the customer satisfaction level. Customer loyalty is necessary before every businesses so with the help of social webs , businesses easily improve their customers loyalty which help to build the strong brand and image of the company(Taheam, Sharma and Goswami, 2016). Build good Relationship with Customers–Social web helps to create the strong relationship with the customers. Having a strong presence through online media platforms Company can guarantee good presentation and strong a relationship with customers and clients. In thistime,most of the individualsare scanningon the web forresearch,surveys, suggestions,recommendations, decisions and feedback of a specific products and brand. In this time, online media playing a important andfundamental role by offering a stage to present products and brand image on which customers and clients can trust and also depend on it. Comparison between Marks & Spencer and ZARA Basis of ComparisonMarks & SpencerZARA Promotional strategies of the company The promotional strategiesin the marketing mix ofMarks & Spenceristocontinuously promoting and advertising the products and services of the brand through television, print media, online media channels, newspaperbillboardsand digital marketing campaign. ZARA is a most famous and big brand in this time. This company using various and multipleonlinemedia channelstopromoteand advertiseproductsofthe company. ZARA also using traditionalmedia,which consider of an advertisement andpromoteproducton
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television and radio. This is very helpful to get customer attentionandcreatea effective capability to attract millionofcustomersall around the world. Branding of the companyMarks & Spencerhas a strong product and brand presence in nationally andinternationally. Companydealwithhuge marketplace.Marks& Spenceris a wellestablished and know and popular brand thathelpsallbusinessesin building a strong brand. Main focus of this company is to advertiseandpromote productsthoroughonline mediachannelsbecauseit helps in time saving and also createagreatimpactand attracting of huge number of customersand clients all over theworldveryeasilyand effectively. Zaraisamostinfluential brand also has a strong brand presenceinwhole marketplacebecauseof qualityofproductsand services.ZARACompany mainly concerningon using atraditionalmarketing becauseZARAmain purposeistoattractand influence all types ofpeople andcustomerssothat companycoverwhole market. CONCLUSION As per this project, it is concluded that digital marketing playing a crucial role for every types of businesses. Most of the companies are using digital marketing campaigns to promote
their brans all over the world. Most of the companies using digital marketing strategies to enhance their band and products image. This project analysed PESTLE analysis to know the successofdigitalmarketingcampaignsansimpactofpolitical,economical,social, environmental and technological on the digital marketing and its campaigns. This project also analysed the legal issues which companies are facing when companies use internet.
REFERENCES Books and Journals Chaffey, D. and Smith, P.R., 2017.Digital marketing excellence: planning, optimizing and integrating online marketing. Taylor & Francis. Chaffey, D., 2019.Digital marketing. Pearson UK. Cole, H.S., DeNardin, T. and Clow, K.E., 2017. Small service businesses: Advertising attitudes and the use of digital and social media marketing.Services Marketing Quarterly,38(4), pp.203-212. Confos, N. and Davis, T., 2016. Young consumer-brand relationship building potential using digital marketing.European Journal of Marketing. Domazet, I.S. and Neogradi, S., 2019. Digital Marketing and Service Industry: Digital Marketing in the Banking Industry. InManaging Diversity, Innovation, and Infrastructure in Digital Business(pp. 20-40). IGI Global. Finotto,V.andMauracher,C.,2020.DigitalmarketingstrategiesintheItalianwine sector.International Journal of Globalisation and Small Business,11(4), pp.373-390. Goldfarb, A. and Tucker, C., 2019. Digital marketing. InHandbook of the Economics of Marketing(Vol. 1, pp. 259-290). North-Holland. Heinze and et. al., 2020.Digital and social media marketing: a results-driven approach. Routledge. Key, T.M., 2017. Domains of digital marketing channels in the sharing economy.Journal of Marketing Channels.24(1-2).pp.27-38. Liu, S., Perry, P. and Gadzinski, G., 2019. The implications of digital marketing on WeChat for luxury fashion brands in China.Journal of Brand Management.26(4). pp.395-409. 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. Taheam, K., Sharma, R. and Goswami, S., 2016. Drivers of Digital Wallet Usage: Implications For Leveraging Digital Marketing (Only Abstract).