This report provides insights on enhancing the social media presence of Warren Bakery, a London-based small bakery. It covers topics such as marketing audit, objectives, target audience, social media zones, and activation plan.
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MARKETING
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Contents INTRODUCTION...........................................................................................................................................3 MAIN BODY.................................................................................................................................................3 Introduction to business..........................................................................................................................3 Marketing audit to acknowledge current market situation.....................................................................3 Objectives of business organisation........................................................................................................5 Gather insight into target audience.........................................................................................................6 Social media zones and vehicles..............................................................................................................6 Formulation of experience strategy by using selected zones..................................................................7 Formulation of an activation plan............................................................................................................7 Manage and measuring...........................................................................................................................7 CONCLUSION...............................................................................................................................................8 REFERENCES................................................................................................................................................9
INTRODUCTION Marketing is referred as a business activity that is initiated by a business company so that their services and products can be sold in large amount. With the help of marketing, popularity of services or products can be enhanced in a considerable manner. Marketing plan is referred as the important aspects of business plan as it benefits the company in gaining the attention of customers in a proper manner(Batra and Keller, 2016). This is a detailed blueprint that specifies the advertising techniques for the next financial year. This report is written in context with Warren bakeries which is a London based small bakery offering cakes and desserts to their customers. This assignment will include information about concerned business, marketing audit, objectives of company etc. so that right kind of people can be targeted. Beside this, information regarding vehicles, social media zone, activation strategy, monitoring and managing budget etc. is mentioned briefly. MAIN BODY Introduction to business Warrens bakery is a London based small bakery which provides cookies, desserts and cakes to their customer base. Beside this, firm is popular for selling their sugar-free products such as cookies, desserts and cakes without sugar. Due to this, people from all age group prefer to buy their products. This company was started in 2011 and performing well in local market. But as technology is getting advanced, people are becoming more dependent on it to perform their basic activities and tasks. In this case, company is planning to enhance their social media presence so that large number of people can acknowledge their services. By preparing social media plan, company can increase their customer base and revenues as they will acknowledge their needs and demands properly(Chaffey and Ellis-Chadwick, 2019). Marketing audit to acknowledge current market situation Marketingauditisreferredtothewaybywhichinternalandexternalbusiness environment is evaluated in a proper manner. It is important for the business owner of Warren Bakery to perform market audit so that they can identify their strengths and weaknesses in a proper manner. In case of Warren Bakery, market audit is performed below:
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Internal factors:These business factors are internal to company and impacts the productivity and profitability in a considerable manner. These factors are usually concerned with the values, organizational structure and customer o the company. In relation with Warren Bakery, these factors are discussed below: Value system:It includes the ethical opinion and beliefs of a company. In case of Warren Bakery, employees are treated properly and given appreciation or rewards on monthly basis according to their performance. In case of customers, value of company is to provide best service so that they can trust the efficiency and efforts of the employees working in bakery. In this context, customers are also provided sugar free cakes and desserts so that they can buy snacks and desserts as per their need(Erevelles, Fukawa and Swayne, 2016). Organizationalstructure:Firmpossessaflatorganizationalstructurewhereten employees work in a coordinated manner. In bakery, opinions of these employees are given consideration and decisions are taken by including every working individual. Organizational structure of company is robust. Culture:Company has a role culture in which each employee has a specific role. Due to this, employees are well familiar with their job roles and they perform activities as expected by the business owner of company. Also, employees are given regular training of using internet and social media for work purpose. Due to this, working productivity of company is high. External factors:These aspects are related with all those factors that can affect business through external market and business environment. These aspects in context of Warren Bakery are discussed below: Politicalfactor:UKisadevelopedandstablenationbutduetoBrexit,some uncertainties are faced by the country. To overcome it, government in UK is offering high support to small businesses and start-ups in the form of loan, subsidy and tax evasion. This factor is in favour of Warren bakery(Felix, Rauschnabel and Hinsch, 2017). Economic factor:These factors relate to growth rate, interest rate, GDP, inflation rate etc. per capita income of people in UK is high due to which they are capable to spend on
eating food like cake, cookies and desserts. This will increase the revenues of Warren Bakery but due to increasing inflation rates, business can face some recession. Social factor:Population is UK is educated and health conscious so they prefer to eat food that will not harm their health. In this context, sugar-free products of company will gain wide popularity and sales due to which sales of company will enhance in a considerable manner. Technological factors:It is very important for the Warren Bakery to update their technology as per latest trends so that customers can be served in a proper manner. Warren Bakery is required to increase their social media presence and advertising so that maximum number of customers can acknowledge about their services or products. SWOT Framework SWOT is a business tool which will allow Warren Bakery in acknowledging their strengths and weaknesses along with opportunities & threats so that high revenues can be achieved in a desired manner. Below is performed SWOT analysis for company: StrengthsWeaknesses Companyoffersbothsugaredand sugar-free cakes, cookies and desserts. Needs of customers are fulfilled in a proper and timely manner. Company is small in size due to which lessnumberofpeopleacknowledge their services and products. Theyareweakinmarketingand promotional tactics. OpportunitiesThreats Company can expand their product line by offering beverages also. Firm can expand their social medial and online presence by using Facebook, TwitterorInstagramforbusiness purpose. Competitionfromlargescale organisations is high. Threatfromsmallcompaniesis increasing due to their enhanced social mediapresence(Feng,Morganand Rego, 2015).
Objectives of business organisation Social media objectives of business firm are stated beneath: To increase revenues of firm by 25% in next four months through social media advertising. To enhance online sales by 15% in next 4 months. To enhance Facebook people following more than 12,000 people in upcoming 4 months. To create Instagram Profile to gain attention of maximum number of individuals in London and outside regions. Gather insight into target audience To target their right audience, it is essential for the business owner of Warren Bakery to segment them in a proper manner. This will help them in satisfying the needs of customers as per their expectations and desires. Concerned company is going to target their customers in accordance with demographics and social media millennials(Fortenberry Jr and McGoldrick, 2016). Demography:Firm will target their customers according to their age. Most of the customers of company are in the age group of 15 to 35 years. People from this age group remains active on social media on daily basis. Targeting these people through social media and traditional advertising will help the company in achieving numerous success and profits. Social media millennials:These are those individuals that purchases a product and service after seeing its promotions and advertisement on different social media platforms. Owner in Warren Bakery can promote about their products on Facebook, Twitter and Instagram to maximize their sales. Social media zones and vehicles There are different kind of social media zones and vehicles which can be used by Warren Bakery so that their business can expand smoothly with the help of social media. Some of these zones are mentioned below: Social commerce:This type of social media zone is used for online selling or buying of different goods or services. There is different type of channels in this zone which can be
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used to sell and buy good in a simplified manner. For example, Groupon, TripAdvisor etc. Social entertainment:This zone includes of various social media channels that are specifically used for enjoyment, entertainment and playing purpose. Some of channels included in this zone are Come2play, Myspace etc(Gneezy, 2017). Social community:Under this zone, those channels of social media are included which are used for the purpose of social media interactions. Warren Bakery can use this channel to interact with maximum number of people about their services or good in a shorter time span. Various channels which are included in this zone are Instagram, Facebook, Twitter etc. Formulation of experience strategy by using selected zones To advertise and acknowledge people about their services or products, Warren Bakery has decided to use social community zone i.e. Instagram and Facebook channel as their business expanding strategy. In this case, the organisation is planning to prepare Instagram profile and addition of pictures, videos and other information about products of business. This will help them in gaining attention of maximum number of customers(Homburg, Jozić and Kuehnl, 2017). Company is also joining hands with successful pages on Facebook for promotion of their products so that their fan following can increase in a high manner. By offering discounts and posting about their services in regular basis, revenues and profit margins of company can be increased in a considerable manner. This will help the company in gaining strong position against rivals and competitors. Formulation of an activation plan In order to achieve their expected results and objectives, concerned company is required to formulate an activation plan. This plan will help the company in increasing their customer base so that they can earn high profits and revenues. In this context, company is initiating a campaign in which products of company will be offered to customers in the form of free samples. This will help the company in acknowledging their customers about the high standards and taste which is not compromised while producing products. This campaign will start from 26th July 2019 to 16thAugust 2019 in different locations within UK. Within these 20 days’ company will try to tell maximum of their customers about their social media presence and online order
service. This will help the concerned bakery in achieving their objectives properly(Kannan, 2017). Manage and measuring In order to manage and accomplish their social media plan, company requires around 1200 pounds. Within this money, promotional tactics through professional advertisers on social media and online sites will take place. In order to measure their performance over social media, company can monitor their sales increment due to online orders. Beside this, company can use Instagram and Facebook following to understand their increase in popularity because of social media within time period of four months(Kerin and Hartley, 2015). CONCLUSION As per above depicted report, it has been concluded that it is vital for a business firm to enhance their social media presence through different social media marketing plans so that they can maximize their customer base without any complex work. By formulating right business objectives, segmenting and targeting people properly, preparing strategy and activation plan sales due to online media can be increased. This will result in high profitability to company. By measuring and managing business performance, essential improvements can be carried out in a timely basis.
REFERENCES Books and Journals Batra, R. and Keller, K. L., 2016. Integrating marketing communications: New findings, new lessons, and new ideas.Journal of Marketing.80(6). pp.122-145. Chaffey, D. and Ellis-Chadwick, F., 2019.Digital marketing. Pearson UK. Erevelles,S.,Fukawa,N.andSwayne,L.,2016.BigDataconsumeranalyticsandthe transformation of marketing.Journal of Business Research. 69(2). pp.897-904. Felix, R., Rauschnabel,P. A. and Hinsch, C., 2017. Elementsof strategicsocial media marketing: A holistic framework.Journal of Business Research. 70. pp.118-126. Feng, H., Morgan, N. A. and Rego, L. L., 2015. Marketing department power and firm performance.Journal of Marketing. 79(5). pp.1-20. Fortenberry Jr, J. L. and McGoldrick, P. J., 2016. Internal marketing: A pathway for healthcare facilitiestoimprovethepatientexperience.InternationalJournalofHealthcare Management. 9(1). pp.28-33. Gneezy,A.,2017.Fieldexperimentationinmarketingresearch.JournalofMarketing Research.54(1). pp.140-143. Homburg, C., Jozić, D. and Kuehnl, C., 2017. Customer experience management: toward implementing an evolving marketing concept.Journal of the Academy of Marketing Science. 45(3). pp.377-401. Kannan, P. K., 2017. Digital marketing: A framework, review and research agenda.International Journal of Research in Marketing.34(1). pp.22-45. Kerin, R. and Hartley, S., 2015.Marketing: the core. McGraw-Hill. Kotler, P. and et. al., 2015.Marketing. Pearson Higher Education AU. Lovelock, C. and Patterson, P., 2015.Services marketing. Pearson Australia. Shaw, S., 2016.Airline marketing and management. Routledge. Wedel, M. and Kannan, P. K., 2016. Marketing analytics for data-rich environments.Journal of Marketing.80(6). pp.97-121.
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