Analysis of Social Media Marketing Strategies for Priceline Australia
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This report analyzes the social media marketing strategies used by Priceline Australia to improve efficiency and gain a competitive advantage. It examines the different social media platforms used, such as Facebook, Instagram, and YouTube, and provides recommendations for enhancing effectiveness.
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Running head: MARKETING MANAGEMENT Marketing Management Name of the Student Name of the University Author note
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1MARKETING MANAGEMENT Executive Summary The report has helped in the analysis of the social media marketing strategies which can play a vital role in improving the overall efficiency of the company in an appropriate manner. In case of Priceline Australia, there are different kinds of marketing channels which are being used such as Facebook, Instagram along with YouTube channels that has helped in managing their effectiveness in comparison to the other competitors present in the market. Lastly, the recommendations have been provided that has helped in the analysis of effectiveness of the company.
2MARKETING MANAGEMENT Table of Contents 1. Introduction............................................................................................................................3 2. Summary of the chosen organisation.....................................................................................3 3. Use of the four steps model....................................................................................................4 4. Analysis of social media platforms used................................................................................5 5. Recommendations..................................................................................................................6 6. Conclusion..............................................................................................................................7 References..................................................................................................................................8
3MARKETING MANAGEMENT 1. Introduction The report helps in the analysis of the social media strategy which is the essential piece in the business-related marketing strategy which will be helpful in connecting with the different customers, increasing the awareness regarding the brand as well as boosting the leads along with sales. The main aim and purpose of the report is to identify the social media marketing strategies which are being used by Priceline Australia in communicating with the stakeholders to gain competitive advantage through the analysis of the social media platforms which are being used by them to target the audiences present in the market. 2. Summary of the chosen organisation Priceline is one of the health and beauty retailers in Australia and the respective brand has two kinds of stores such as traditional Priceline and Priceline pharmacy. The company was founded in the year 1982 and it is headquartered in Australia which is operating under the retail industry. The different products which are being sold by them includes health and beauty and the number of employees working in the company is 300+ till the year 2017 (Priceline.com.au, 2019). The current offerings related to the products include hair care products, skincare, fragrance along with wellbeing related products for the women as well as men customers. Moreover, in the current scenario, the company has involved themselves in pharmaceutical retailing with the help of the Priceline Pharmacy brand and there are more than 330 stores of Priceline through Australia. In addition, Priceline Australia have been the sponsor for the thirty days Fashion and Beauty and it is the biggest yearly fashion as well as beauty which is the biggest event held in Australia. Furthermore, the company has been famous in selling the different kinds of health and beauty products at half price than the other retailers present in the market. Moreover, the loyalty program of Priceline Australia has more than four million members which has made them largest health and beauty retail loyalty related programs in Australian economy. 3. Use of the four steps model The social media strategy is the main aspect which should be followed by Priceline Company as it will be engaging the different customers and determine the target audience in
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4MARKETING MANAGEMENT the market as well. The main steps which are involved in the social media marketing strategy includes the four steps which are as follows: Listen-It is the first and foremost approach which is followed by Priceline Australia as the main aspect of social media channels is to listen to the different viewpoints of customers (Wang & Kim, 2017). The focused listening will be helpful for analyzing trends and working in that manner to gain stronger customer base. Priceline targets mainly the wellbeing of women customers who are the target customers and the different health care products along with other pharmacy related products are being made available to them at half price which attracts them and make the customers happy. Communicate-It is the second approach which is followed by Priceline Australia as it is helpful in building brand and increase the visibility of the brand as well. In case of Priceline Australia, building relationship is the most effective aspect which should be followed by the company as it helps in communicating with potential customers and gain more profitability in the market as well (Sajid, 2016). The company communicate with the customers relating to the new products or the other offers through Facebook or Instagram Official page along with the official website of the company to help them gain strong base of customers. Figure 1: Steps in Developing Social Media Marketing Strategy (Source:Ramanathan, Subramanian & Parrott, 2017) Engage-Through inclusion of the different social media tools such as Facebook along with Instagram, it helps Priceline in engaging the different customers in making them
5MARKETING MANAGEMENT understand the different kinds of offerings provided by them. Through engagement of social media, it helps in expanding marketing research along with boosting the brand awareness that has helped them in showcasing their brand in the market. Through offering various discounts and offers along with offering the products at half price in comparison to the market is the most appropriate technique which is being used to engage customers and improve their customer base. Collaborate-Priceline Australia has been introducing the different collaborations with the various digital marketing companies as it will be helpful in providing the customers with full range of products and services for providing the respective service to them. There has been different co-creation of contents that is effective in managing the overall effectiveness and induce the customers to be more involved towards their brand. 4. Analysis of social media platforms used From the analysis of the website of the company and the other aspects which are followed by the company, it can be understood that there are different kinds of social media channels which are being used as it will be enhancing the growth of the company and it has assisted them in improving the overall brand image of the company in a positive manner as well. The most common social media channels which are used by Priceline Australia includes Facebook, Instagram, YouTube along with official website of Priceline to attract different customers in the market (Ngai, Tao & Moon, 2015). Firstly, Priceline Australia uses Instagram account in which they try to put in the different stories of the clients as to uplift their brand image through relevant hashtags. There are different postings of teasers which will be urging people to buy such products and moreover, the brand offers more than 70% off discount while showing the different products which are available for purchase (Hudson et al., 2016). There are more than millions of followers of Priceline Pharmacy that has encouraged the buyers to try out the different products and gain competitiveness. Secondly, the official Facebook website of Priceline Australia is highly viewed by the different customers and the company introduces the different kinds of products which are new in their Facebook page. Moreover, with the help of Facebook page, the company has been able to engage their audiences and the discounts offered by them are included in the official Facebook page as well (Godey et al., 2016). There is inclusion of sponsored ads that
6MARKETING MANAGEMENT pops up in the personal webpage of the customers and it helps in engaging the different customers positively. Moreover, in YouTube channels, the company has been able to showcase the different advertisements before commencing a show, it is helping the company in gaining competitive advantage and it has helped them in building strong base of customers as well in the market (Felix, Rauschnabel & Hinsch, 2017). The company Priceline Australia has been introducing the buying advertising done by them and it offers the different customers to search the different products along with services offered by them through typing the keywords which is helpful in improving their effectiveness. Therefore, from the overall analysis of the social media channels which are being used by Priceline Australia, it can be seen that these are the main social media channels which are being used to attract customers and it has helped them in generating huge profitability. 5. Recommendations WiththeimplementationofSMARTobjectives,thecompanycanbegaining competitive advantage in the market and it will be helpful for them in succeeding in the competitive business environment. Firstly, proper auditing is essential in nature as it will be helpful in analyzing the current social presence wherein the different networks in which they are currently present as it will be able to compare the same with profiles of the other competitors and it will be enhancing the goals. Through preparation of the personas of audiences in the market, it will be allowing to analyze the potential fans, followers along with customers as real people with real needs along with wants (Alves, Fernandes & Raposo, 2016). Furthermore, the research is required to be done by Priceline Australia to understand the nature of competition present in the market as it will be enhancing the overall efficiency of the company. The competitive analysis can be conducted as it will be showcasing the different kinds of companies which are performing well and through the same, the company can engage into other social media strategies that can be used to improve their effectiveness of the brand appropriately (Ashley & Tuten, 2015). As the respective company has their presence in different social media channels, therefore, the quality over quantity is the most
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7MARKETING MANAGEMENT effective approach that can be introduced by them as it will be enhancing their growth and provide added value to the customers in the market as well (Duffett, 2017). Lastly, working with the right tools is the other necessary recommendation which can be included by Priceline Company through planning the content ahead and creating more time for engagement of the customers (Chang, Yu & Lu, 2015). The main focus of the company should be including the different customers by understanding their tastes and preferences and it can be helpful for them in serving customers more efficiently. 6. Conclusion Therefore, from the analysis of the social media marketing of the company, it can be identified that Priceline Australia is one of the well-known pharmacies wherein the company has been able to include the strong base of customers and improve their brand image in the market as well. With the help of the four stage social media strategy model, it can be identified and analyzed that social media aspect is the most essential approach wherein they are offering different products at half price and it can be helpful for them in improving the overall effectiveness of the company in a positive manner. Lastly, there are different kinds of strategies which can be incorporated by them in order to improve the overall effectiveness of the products and services offered by them.
8MARKETING MANAGEMENT References Alves, H., Fernandes, C., & Raposo, M. (2016). Social media marketing: a literature review and implications.Psychology & Marketing,33(12), 1029-1038. Ashley, C., & Tuten, T. (2015). Creative strategies in social media marketing: An exploratory studyofbrandedsocialcontentandconsumerengagement.Psychology& Marketing,32(1), 15-27. Chang, Y. T., Yu, H., & Lu, H. P. (2015). Persuasive messages, popularity cohesion, and message diffusion in social media marketing.Journal of Business Research,68(4), 777-782. Duffett, R. G. (2017). Influence of social media marketing communications on young consumers’ attitudes.Young Consumers,18(1), 19-39. Felix, R., Rauschnabel, P. A., & Hinsch, C. (2017). Elements of strategic social media marketing: A holistic framework.Journal of Business Research,70, 118-126. Godey, B., Manthiou, A., Pederzoli, D., Rokka, J., Aiello, G., Donvito, R., & Singh, R. (2016). Social media marketing efforts of luxury brands: Influence on brand equity and consumer behavior.Journal of business research,69(12), 5833-5841. Hudson, S., Huang, L., Roth, M. S., & Madden, T. J. (2016). The influence of social media interactionsonconsumer–brandrelationships:Athree-countrystudyofbrand perceptionsandmarketingbehaviors.InternationalJournalofResearchin Marketing,33(1), 27-41.
9MARKETING MANAGEMENT Ngai, E. W., Tao, S. S., & Moon, K. K. (2015). Social media research: Theories, constructs, andconceptualframeworks.InternationalJournalofInformation Management,35(1), 33-44. Priceline.com.au (2019) Priceline Pharmacy - Australia's Leading Health & Beauty Retailer (online) Retrieved fromhttps://www.priceline.com.au[Accessed on 7thJune 2019] Ramanathan, U., Subramanian, N., & Parrott, G. (2017). Role of social media in retail network operations and marketing to enhance customer satisfaction.International Journal of Operations & Production Management,37(1), 105-123. Sajid, S. I. (2016). Social media and its role in marketing. Wang, Z., & Kim, H. G. (2017). Can social media marketing improve customer relationship capabilitiesandfirmperformance?Dynamiccapabilityperspective.Journalof Interactive Marketing,39, 15-26.