The Role of Digital Marketing and Social Media Marketing
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This report explains marketing, marketing mix, digital marketing, social media marketing and communication mix. It highlights the importance of social media marketing and effective social media content. The report also discusses effective digital marketing campaigns and their application. The significance of social media is also covered in this report.
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The role of digital marketing and social media marketing
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Table of Contents INTRODUCTION...........................................................................................................................3 Part 1................................................................................................................................................3 Description of marketing........................................................................................................3 Definition of marketing mix and role of communication mix...............................................3 Description of digital marketing.............................................................................................5 An explanation of social media marketing.............................................................................5 Value of digital and social media marketing..........................................................................5 Part 2................................................................................................................................................6 Effective social media content and reason behind their effectiveness...................................6 Effective digital marketing campaigns and application of digital marketing models............7 Significance of social media...................................................................................................9 Conclusion.....................................................................................................................................10 References......................................................................................................................................11
INTRODUCTION The marketing landscape is continuously changing due to the introduction of digital technology and increasing usage of digital marketing. In the current era digital marketing is an essential tool used by business firms to develop profitable consumer base(Bondarenko and et. al., 2020). The present report focuses on marketing and digital marketing. Marketing, marketing mix, digital marketing, social media marketing and communication mix are explained in this report. Importance of social media marketingis also covered in this report. The present report highlights beneficial social media content and provides information about their importance for marketing in current age. In addition to this effective social media campaigns are discussed in this report with the help of suitable digital marketing mode. The reasons behind effectiveness of social media for marketing is also covered in this report. Part 1 Description of marketing Marketing is defined as the management process which seeks to identify and predict needs of the target consumer base and ensure that consumer expectations are met to maximise consumer satisfaction. Marketing aims to complete all these tasks in a manner which enhances the profitability of the company and helps the firm gain success in every business endeavour. Marketing is also considered a science and art which seeks to explore create and provide value to ensure target consumer gains maximum satisfaction in a way which increases the profit of the company.Identificationofunrealizedconsumerneedsalongwithmeasurementand quantification of identified market and profit potential is the responsibility of marketing. Definition of marketing mix and role of communication mix The elements of marketing mix were created in the 1950's by E. James McCarthy as a framework which helps acquire a profound understanding of the marketing process. The original framework developed by McCarthy included four categorisations of Product, Price, Place and Promotion.Theoriginalcategorizationcontinuestobeusedasvaluableframeworkin understanding the basic activities of the marketing process(Dilami, Hosseini and Ahmadi, 2021). The marketing mix depicts the ways in which marketing strategy developed by business firms is converted into action. Categorization of the marketing mix has evolved to include three more elements of process, people and physical evidence. People elements is concerned with the
employees which contribute to development of products and services offered by the company. The process is another addition to original marketing mix which focuses on the delivery process of products or services. Physical evidence refers to everting seen by the consumers when interacting with the company. The four main elements of the marketing mix are provided below:ï‚·Product: The goods or service offered by a company to full fill a consumer desire or requirement is considered as the product offered by the company. The physical aspects of the product such as labelling, size, design, taste, touch and material conditions are part of this element of the marketing and are central to consumer satisfaction(Johnsen, 2017)ï‚·Price: This categorization of the marketing mix affects overall volume of sales and profitability of the company. The price of the good or services offered by the company is based on various factors including, prices offered by rival firms, supply and demand, market fluctuations and costs of raw material.ï‚·Place: The channels through which business firms get their products or services in front of the interested consumers are covered in this categorization of the marketing mix. This includes digital channels such as company website along with traditional channels such as brick and mortar stores.ï‚·Promotion:Thecasemadebybusinessfirmstopersuadetargetconsumersinto purchasing the offerings of the company is included in this categorization of the marketing mix. Advertising, personal selling, public relations and marketing strategy of the company are examples of the promotional efforts of the firm which is part of this marketing element.Link of communication mix in the marketing mix Communication mix refers to the means adopted by business firms to convey messages about their products, brand and business activities with the aim of influencing consumers to interact with the company ad avail services or products introduced by the organisation(Kumar and Jincy, 2017). The five elements of communication mix are public relations, personal selling, directmarketingadvertisingand salespromotion.Communicationmixislinkedtothe promotion categorization of the marketing mix as it helps in attracting consumers for the company and building positive relations to increase the sale of the firm.
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Description of digital marketing Digital marketing reefers to the act of promoting the products or brand of a company with the usage of online tools such as social media, search engine optimisation and email marketing. Marketing efforts of the company which include the usage of electronic devices or internet devices are a part of the digital marketing strategy of the firm. The purpose of digital marketing is to create a digital brand of the company which increases online sale and develops a positive image of the firm on online channels(Mowla and Shetty, 2018). Digital marketing is an important aspect of the marketing strategy of business firm in the current age as most consumers are connected to digital spaces. An explanation of social media marketing Social networks are the most significant marketing platforms for business firms in the digital world in which consumers are dependent on digital mediums to communicate with each other and complete daily purchases. Social media marketing refers to theconsumption of social media standssuch as Reddit, Facebook and Twitter to conduct promotional activities and connect with the consumers.Social media has commendable power in terms of influencing consumers to purchase the products of the company and build a global consumer reach to enhance online sales of the organisation on an international level. Value of digital and social media marketing Digital marketing and social media marketing are at the forefront of marketing efforts of business firs in the current corporate world. Digital marketing is values as it helps business firms directly communicate with the consumers andinfluence internet users to prefer shopping with the company instead of their rivals. Effective digital marketing stratify utilises various tools such as search engine optimisation and pay per click marketing to ensure that the online consumer base selects products of the company instead of their industry rivals. Digital marketing efforts can be monitored an changed by the company during their completion(Pineida,2020). Thais feature enables business firms to change public narrative about their company which increase the importance of the firm. In case of social media marketing, business firms are able to produce creative and engaging content which attracts the attention of the target consumer base and build loyal online consumer base of the company. In addition to this business firms are able to gain huge amount of consumer data to develop accurate and precise consumer insights. Direct feedback from consumers and social media trends are some of the ways in which social media
platforms provide consumer insight to enterprises. Consumer insight from social media not only helps business firms enhance theirmarketing efforts but also improve other aspects of business which reduces consumer satisfaction. Part 2 Effective social media content and reason behind their effectiveness Influencer Collaboration This social media content is produced by collaborating with social media celebrities and influencers who have gained huge following on various social media platforms.Business firms collaborate with social media influencers by paying them to promote their products or services on their social media page, or developing a new product line with the influencer in limited quantity and earn profits from the sale of unique product line(Schuster, 2019). In addition to this influencer collaboration also involves allowing social media celebrities with huge fan base to receive products or services offered by the company at free of cost in exchange of positive reviews and recommendation of the company to their audience. This social media content is effective because social media influencers ave gained celebrity statists in the current age and their statements are valued not only by their fans but also other audience members who wish to try new products or services. Testimonials and reviews This social media content acts as a social profit for internet users and is able to attract more consumers in comparison to company advertising. Social media platforms enable internet users to review products and services of the company in video, audio or text format. These kinds of consumer reviews and testimonial play an important role in constructing positive or negative image of the establishment in the minds of the consumers. Most consumers see reviews of other consumers in before making final purchasing decision.Business firms can post positive consumer reviews and testimonials on social media sites and build social media campaigns around positive response firm consumers to build trust about the brand(Valanteena and Mary, 2020).This social media content is more capable in influencing consumers in comparison to corporate advertisement as it consumers trust the statement of common individual more than paid influencer or company manufactured content.
Effective digital marketing campaigns and application of digital marketing modelsTESCO's the price that takes you back campaign This social media campaign was introduced by British retail organization upon the 100th year anniversary of the company. The campaign was built around nostalgia from 1980's and the role of the company in offering the best prices to the consumers for more than 100 years ( Tesco ‘Takes Us Back’ with Nostalgic Campaign to Mark 100th Anniversary, 2019). RACE model
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Reach: This campaign was released across all social media platform and reached and reached 93% British adult population ( How Tesco won back nervous shoppers with a dose of nostalgia, 2021). Act: This campaign increased social media consumer interaction as I was based on past nostalgia of the consumers. Convert: This campaign attracted large number of consumers as the domestic sale of 147,000 tons of beans were purchased by consumers in an hour with sale of 19.8 million grams of Cathedral city cheese and three weeks worth of fish fingers in a day ( Tesco ‘Takes Us Back’ with Nostalgic Campaign by BBH to Mark Centenary, 2019).Engage: Consumer advocacy increased after this campaign because of money saving deals highlighted by the firm.Taylor and Heart's Love is now campaign This campaign was developed by the British jewellery brand Taylor and heart in the wake of COVID-19 in order to attract consumers and recover from the negative impact of the pandemic ( Jewellery brand Taylor and Hart shoots its latest campaign entirely via FaceTime, 2020). RACE model Reach: This campaign attracted attention of large number of consumers as it involved the creative element of completing the campaign through face-time. Act: This campaign had consumer engagement element as the couples which were involved in the campaign were consumers of the company.
ï‚·Convert: The firm saw an increase in sale after this campaign. ï‚·Engage: Consumer advocacy enhanced after this campaign as it showcased brand in positive light and involved common consumers. Significance of social mediaï‚·Cost effective: Social media can be used by business firms to construct cost effective marketing campaigns. This is because construction and monitoring of social media marketing campaigns requires less about and financial investment in comparison to other digital marketing and traditional marketing alternatives.ï‚·Measurable: Social media content used by business firms can easily be measured in terms ofimpactonconsumers.Everysocialmediaplatformhasdifferentmeasurement parameters to understand the reach of the post and measure consumer interaction gained from the specific content. Success of social media campaign can measured quickly and easily. ï‚· Brand loyalty: Social media content helps business firms establish specific brand image which attracts loyal consumers for the company. This includes highlighting sustainable initiatives or CSR activities and creatively interacting with consumers to forge emotional bond. This feature is not available in other marketing options with which business firm scan increase consumer loyalty which increases the effectiveness of this content. Conclusion From the above report it is concluded that marketing plays an important role in ensuring that the consumers receive value and contributes to the success of the company. Marketing mix is a useful framework which provides knowledge about basic marketing activities. Marketing
mix originally included four elements of product, price, place an promotion but has been extended to include three additional elements which are physical evidence, people and process. The communication mix consists of five categorisations ans helps business firms effectively interact with consumers in profitable manner. The communication mix is linked topromotion categorization in the marketing mix as it aims to influence consumers in purchasing the products of the company. Social media marketing and digital marketing are marketing necessities of business firms in the current age as they help business firs connect with large number of consumers in a cost effective namer.Influencer collaboration and testimonials and reviews are two types of social media content which helps business consumers build online brand and increase online sales of the company. RACE model is digital marketing framework which helps in understanding the effectiveness of social media content.
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References Books and journals Dilami, Z., Hosseini, S. and Ahmadi, H., 2021. Evaluation of the digital marketing Strategy of theBushehrProvinceMiningexportCompaniesusingRACEmodel. Journalof International Business Administration. Johnsen,M.,2017. MultilingualDigitalMarketing:ManagingforExcellenceinOnline Marketing. Maria Johnsen. Schuster,O.,2019. Entrepreneurs'AcceptanceofDigitalMarketing-Communication Technologies: A European Study. kassel university press GmbH. Valanteena, D. and Mary, L., 2020. A study of the challenges facing digital marketing as a tool of promotion. RIMS Journal of Management,4(2). pp.1-10. Lo, Y. C. and Fang, C. Y., 2018. Facebook marketing campaign benchmarking for a franchised hotel. International Journal of Contemporary Hospitality Management. Roth-Cohen, O. and Lahav, T., 2019. Going undercover: Online domestic tourism marketing communicationinclosedandopenFacebookgroups. JournalofVacation Marketing,25(3). pp.349-362. Taecharungroj, V., 2017. Starbucks’ marketing communications strategy on Twitter. Journal of Marketing Communications,23(6). pp.552-571. Jahnke, M., 2018. Influencer marketing. Springer Fachmedien Wiesbaden. Online How Tesco won back nervous shoppers with a dose of nostalgia, 2021. [Online] Available through<https://www.marketingweek.com/masters-awards-tesco-won-nervous- shoppers/> Jewellery brand Taylor and Hart shoots its latest campaign entirely via FaceTime, 2020. [Online] Available through <https://www.creativeboom.com/inspiration/jewellery-brand-taylor- and-harts-shoots-its-latest-campaign-entirely-via-facetime/> Tesco ‘Takes Us Back’ with Nostalgic Campaign by BBH to Mark Centenary, 2019. [Online] Availablethrough<https://marcommnews.com/tesco-takes-us-back-with-nostalgic- campaign-by-bbh-to-mark-centenary/> Tesco ‘Takes Us Back’ with Nostalgic Campaign to Mark 100th Anniversary, 2019. [Online] Availablethrough<https://www.lbbonline.com/news/tesco-takes-us-back-with- nostalgic-campaign-to-mark-100th-anniversary>