Impact of Digital Marketing and Promotions on The Works Retail Company
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This report analyses the impact of digital marketing and promotions on the performance of The Works retail company. It includes a literature review, research aim and objectives, and challenges faced by managers in implementing digital marketing strategies.
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Impact of digital marketing and promotions on The Works retail company 1
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Table of Contents Introduction......................................................................................................................................3 Research aim.........................................................................................................................4 Research objectives................................................................................................................4 Literature review..............................................................................................................................4 Introduction of literature review.............................................................................................4 Main body...............................................................................................................................4 To determine the various digital marketing and promotion techniques used in The works to enhance their customers.........................................................................................................4 To analyse the impact of digital marketing and promotions on the performance of The works organisation............................................................................................................................6 To analyse the challenges faced by managers in implementing of digital marketing and promotion strategy in the business environment....................................................................7 Research gap...........................................................................................................................9 References.....................................................................................................................................10 Books and journals...............................................................................................................10 2
Introduction Digital marketing refers to the promotion and advertising of the company products and services. It is done through digital channels like social media marketing, search engine, email marketing and content marketing etc. These channels help the company in enhancing their sales and profitability and make awareness about their products and services in front of customers. Further, companies now a days enhancing their awareness and it helps in development of their products and services (Mullick, Raassens, and Nijssen, 2021). This helps in selling more and enhancing their sales. Further, these channels will help in developing the performance of organisation and solving customer complaints and their feedbacks as well. By using these strategies, company could be able to enhance their brand image in front of customers and they are developing their awareness of product and services in front of customers. Nowadays, during a time of covid 19 pandemic, many of the people are not purchasing or buying physically but they are purchasing digitally through online channels. So, this helps in development of the company sales and they could be selling their item at a time of covid 19 as well. There are certain importance of digital marketing channels for the business is that it enhance the customer base, develops profitability and revenue and targeting customers and handling complaints of the customer as well. Also, customers are getting certain benefits while using digital channel and mobile channels. These are sharing their views, get aware about the products company is selling, finding certain options and varieties etc. these will helps in knowing more about the company and enhancing their reputation in front of customers and competitors (Amoah, and Jibril, 2021). While doing digital marketing, company can also provide discounts and offers to the customer so that they could get more attracted towards the company. Digital marketing strategies are affecting the developed and undeveloped countries both through making awareness of the company products and services. In addition, through this, undeveloped country’s economic condition gets enhanced and they get more profitability. It will be helpful in development of the organisational and the country as well. However, certain challenge are also being faced by the managers or the company such as lack of technique issues and quality differences etc. these should also be considered in mind while implementing digital marketing strategies within the business environment in order to compete with their competitors (Alkahtani, Khalid, and Pruncu, 2021). The organisation selected within this given report is Works plc. It is a discount retailing company which is selling of the books, games, gifts and 3
stationery items.Company was founded in the year 1981 and currently it is having 530 stores at two locations of UK and Ireland. This report consists of research aim and objectives and further it includes literature review and research gap. Research aim “To analyse the impact of digital marketing and promotion on the performance of the retail organisation.” A case study on The Works plc. Research objectives To determine the various digital marketing and promotion techniques used in The works to enhance their customers. To analyse the impact of digital marketing and promotions on the performance of The works organisation. To analyse the challenges faced by managers in implementing of digital marketing and promotion strategy in the business environment. Literature review Introduction of literature review Literature review refers to identification and evaluation of the available literature data. Further, this could be resulting in getting in depth information about a particular topic and subject. It maintains documents of the state which respect with the subjects and also it synthesis information in the literature review into the summary. It is presented through analysing books and already published articles (Llopis-Albert, Rubio, and Valero, 2021). Within this current research, it is discussed about impact of digital marketing strategies on business performance. Main body To determine the various digital marketing and promotion techniques used in The works to enhance their customers AccordingtoIbrahimandYESILTAS,(2021)Technologyisdrivenasthemost important in the business environment now a days, they are realizing which marketing strategies should help in improving their brand image and scale. It helps in development of the organisation and their profitability as well. Further, these digital marketing strategies will help in creating awareness of the brand. There are various types of digital marketing strategies such as social 4
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media marketing, search engine optimization, email marketing, content marketing etc. The first tool which can be used in the Works plc is social media marketing because this helps in attracting large number of youth audience. It is a strong presence of social media platform which is the most important techniques of digital marketing. This consisting of certain channels like Instagram, Facebook and you tube which is to be helpful for achievement of the organisational goals and objectives (Septianto, Lee, and Putra, 2021). It includes images and videos and engage audience with the creative posts. Further, the next tool is search engine optimization- as this is the another digital marketing technique which involves creating more traffic to the site by making the websites appears within the higher up in the results in the search engine like Google. This technique will help in building and improving the brand awareness. It will help in attracting customer and engaging them within the information provided by them. The next techniques of digital marketing is email marketing- this is one of the another most important techniques used in the digital marketing. This is mostly used at a time of hiring of the people and this will be helpful in sending them information regarding their interview process or something else. Further, it is helpful for customers in sharing their feedback and writing complaints regarding any products and services they provide. The another strategy which can be used in the company is content marketing as it is the creating valuable and relevant content which is consistent platform. (Hackley, and Hackley, 2021). In relation with the works plc, they are constantly running campaigns in order to attract audience and their profitability. The other marketing tool is web advertising- as in this brand in the market create more effectivelyby creating the clickableadvertisements. These advertisementcomes at every webpages which is clicked by audience or the user. It is to put the advertisements on the popular websites. These all digital marketing strategies helps in achievement of company goal and objectives and it helps in development of the company structure (Gupta, and Nair, 2021). Some of these strategies which are being used in the organisation now a days and if these are used in Works plc, then it may be resulting in developing of the reputation of the company. If customers sees different advertisements and posts from the company and they look upon various new images and posts. These techniques resulting in making promotions and advertising of the product company is providing. 5
Toanalyse the impact of digital marketing and promotions on the performance of The works organisation As per the views of Song, and Song, (2021) Digital marketing has changed the way company is operating and communicating with the customers. These strategies will help in creating direct impact on the profit margins and it helps in growing the business in most effective way. While creating campaigns and the promotion of a particular campaign and the products and services company is offering is regarded as the most effective strategies that is to be help in increasing sales of the company. In relation with the Works plc, they are creating positive impact on the performance of business. As it helps in finding customers that are potential to buy company products and services. Digital marketing consisting of certain channels which could helps in identifying the targeted customer. These could be identified by the person who are liking and commenting on the post which company has posted on the social media websites or who are creating interest in sharing details about this products and services. The other positive impact which is seen of the digital marketing is understanding of the channel drive sales for the company. In relation with the Works plc, it is important to conduct digital marketing strategies in order to understand which channel is bringing more sales for the organisation. The next is to communication of the message and contact with both current and prospective customers (Jacobsen, Stancu, and Lähteenmäki, 2021). Through various digital media channels, it is important to communicate their customer. So digital media channels like social media channel, search engine optimization etc. are those platforms where customer can search for the information and they can even communicate with the executive of the company. This will helps the company in communicating better with the business and this will be helpful in achievement of the organisation. Further, the another is establishment of presence online. These digital marketing strategies helps in generating of the online presence in the mind of customers. This will be helpful for creating awareness and developing plan for them. The next is to personalise the brand and control on the messages received from customers. By using digital marketing company will be able to develop their productivity and the profitability. This will be helpful in creating reputation among employees and resulting in achievement of their goals and objectives. Further, these will helps in providing tools that allows to target their core customer. It will be helpful in targeting the audience who are willing to buy their products and services (Kholiavko, Popelo, and Sheremet, 2021). On the other hand, there are certain developed 6
countries like USA, UK, New Zealand, Belgium, Canada etc. which are using these digital marketing strategies in order to convert their loss into profits and enhance customer through buying of their products and services. In USA, they are using Slack and the focus on solutions is used by the organisations existing in the country. Further, in UK some of the campaigns are used by organisation to attract audience. These areAudi, the Car Manufacturer: Clowns Are No Joke etc. these are used in developed countries. Other countries like Canada and New Zealand is using search engine optimization and content marketing. In addition, in relation with the undeveloped countries like Niger, South Sudan, Chad, Burundi, Sierra Leone etc. digital marketing strategies will helps in creating sales for them developing their economy as well. It helps the undeveloped countries in developing their profits and revenues within this. Under undeveloped countries, there marketing is not that much better which is create better impact to than the developed countries. On of the most important digital marketing tool which is used in the Nigeria is social media marketing and email marketing is used in Burundi. On the next hand, digital marketing strategies are creating positive and negative impact both on the companies performance and productivity. As it helps in enhancing employees productivity as well and provides better facilities to the customer and provides them better options than the physical stores. It is important to have digital marketing strategies in business environment (Singh, Wen, and Sin, 2021). However, there are some of the challenge which could be faced while using digital marketing strategies such as a learning about customers, managing cash flows, creating creative content making websites accessible. Further, there could be data and security issues which could be resulting in impacting the business environment. This could be developing their impact on the company. And these challenges should be considered in mind as well. In order to achieve organisational goals and objectives. To analysethe challengesfacedby managersinimplementingof digitalmarketingand promotion strategy in the business environment. From the views of Troise, and Camilleri, (2021) While implementing digital marketing strategies and promotion. It helps in developing opportunities for the company and enhancing their sales and profits as well. This will be helpful in creating reputation of the company. However, there are certain issue and challenges that are to be faced by managers and organisers while implementing digital marketing strategies within this business environment. In relation with the Works plc, the learning about customers- it is important to target the customer and it is 7
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more important as well. It will be helpful in making advertisements and getting more competitive within the market. It is important to attract customers and develops their profitability as well. It is the buyer persona which lets an organisation to target the right audience and understand them better. Also, it is a challenge to learn more about customer and asking them questions on their blog and social media pages. The next challenge which is found is managing cash flows as in this business may be suffer this issue very much because it will helps in creating profitability and conducting all the activities in most effective manner (Vazquez, 2021). Further, business owners of the Works plc are focusing towards managing the cash flows and it helps them in development of the organisational profits and revenue. Further, it is important to cut cost and manage the expenses which could be explaining the activities and actions taken in the business environment. In order to develop the research ability it is important to have the effective strategy in order to develop their potential. Further, creating engaging content is one of the major issues because customers are the one who are getting attracted towards the creative content if they found on any of the social media sites or any of the websites. It is important to develop their potential and this helps in making the company valuable. The other issues is privacy and data security issues- because these can be the major issues because data contains information regarding their personal information, contact details and bank cards. Because this will be helping in the company structure and this will be impacting the organisational performance as well. It is important to store and keep secure customers data who are paying the amount of the products and services offered to the,. This will be helpful for achievement of the organisation and developingtheiropinions(Ameen,Tarhini,andAnand,2021).Theseissuesshouldbe considered in mind because this will be helping the organisation in order to enhance their sales and profits and revenue. The other share their regulations and rules and this is important to develop their process and resulting in achievement of the organisation success. In addition, there are certain strategies which can helps in overcome from these situations like company should have such data protector devices which could helps them in protecting their customer data and they could have certain strategies like creating attractive content and developing their websites are the major strategies in order to overcome from the strategies behind these issues. If the company is working towards these strategies then this will be resulting in developing of the organisational performance and creating promotions for them in order to achieve their overall content. This creates opportunities 8
for them and also helps customer in sharing their feedbacks and handling complaints and also they could be able to chat with their executives at anytime 24/7 hours (Du, Netzer, and Mitra, 2021). This creates flexible working environment and customer base. Research gap The main research gap within thisresearch isthere are five developedand five undeveloped countries that used digital marketing strategies. Some of the developed countries like USA, UK, New Zealand, Belgium, Canada etc. these are using digital marketing strategies like web advertising, social media marketing and search engine optimization which makes them popular and customer get more attracted towards their products and services. However, there are certain undeveloped countries which are not that much efficient to put their functions and this will not created more profits and revenue as compared with the developed countries. Some of the undeveloped countries are Niger, South Sudan, Chad, Burundi, Sierra Leone etc. which are not even having high literacy rate and life expectancy rate. Because of lack of resources and lack of customer awareness of the products, these countries are not being able to create opportunities and that is why they are regarded as undeveloped. Further, it is being said that these undeveloped countries are not using such strategies like content marketing and search engine optimization (Santosa, Taufik, and Rahmawati, 2021). As these developed countries are having high standard of living and this helps in developing their product and services. Further, if these undeveloped countries are having true and fine infrastructure but they could be not be able to get developed because of low turnover and low cash flows. For this, it is important to manage the budget which company is having and do accordingly all the activities. 9
References Books and journals Alkahtani, M., Khalid, Q.S., Jalees, M., Omair, M., Hussain, G. and Pruncu, C.I., 2021. E- AgriculturalSupplyChainManagementCoupledwithBlockchainEffectand Cooperative Strategies.Sustainability,13(2), p.816. Ameen, N., Tarhini, A., Reppel, A. and Anand, A., 2021. Customer experiences in the age of artificial intelligence.Computers in Human Behavior,114, p.106548. Amoah, J. and Jibril, A.B., 2021. Social Media as a Promotional Tool Towards SME’s Development: Evidence from the Financial Industry in a Developing Economy.Cogent Business & Management,8(1), p.1923357. Du, R.Y., Netzer, O., Schweidel, D.A. and Mitra, D., 2021. Capturing marketing information to fuel growth.Journal of Marketing,85(1), pp.163-183. Gupta, R. and Nair, K., 2021. A CONCEPTUAL MODEL FOR PROMOTION ON DIGITAL PLATFORMS.Academy of Entrepreneurship Journal,27, pp.1-21. Hackley, C. and Hackley, R.A., 2021.Advertising and promotion. Sage. Ibrahim, M.S. and YESILTAS, M., 2021. Impact of Internal Marketing on Loyalty, Promotion and Customer Relationship Considering the Mediating Roles of Training, Motivation and Reward.Revista Argentina de Clínica Psicológica,30(2), p.200. Jacobsen, L.F., Stancu, V., Wang, Q.J., Aschemann-Witzel, J. and Lähteenmäki, L., 2021. Connecting food consumers to organisations, peers, and technical devices: The potential of interactive communication technology to support consumers’ value creation.Trends in Food Science & Technology. Kholiavko,N.,Popelo,O.,Bazhenkov,I.,Shaposhnykova,I.andSheremet,O.,2021. INFORMATION AND COMMUNICATION TECHNOLOGIES AS A TOOL OF STRATEGY FOR ENSURING THE HIGHER EDUCATION ADAPTABILITY TO THEDIGITALECONOMYCHALLENGES.InternationalJournalofComputer Science & Network Security,21(8), pp.187-195. Llopis-Albert, C., Rubio, F. and Valero, F., 2021. Impact of digital transformation on the automotive industry.Technological forecasting and social change,162, p.120343. Mullick, S., Raassens, N., Haans, H. and Nijssen, E.J., 2021. Reducing food waste through digital platforms: A quantification of cross-side network effects.Industrial Marketing Management,93, pp.533-544. Santosa, A.D., Taufik, N., Prabowo, F.H.E. and Rahmawati, M., 2021. Continuance intention of baby boomer and X generation as new users of digital payment during COVID-19 pandemic using UTAUT2.Journal of Financial Services Marketing, pp.1-15. Septianto, F., Lee, M.S. and Putra, P.G., 2021. Everyday “low price” or everyday “value”? The interactive effects of framing and construal level on consumer purchase intentions. Journal of Retailing and Consumer Services,58, p.102317. Singh, P., Wen, G.K., Kee, D.M.H., Yee, G.S., Ying, L.C., Ling, F.K., Shammas, M., Tandra, G.R. and Sin, L.G., 2021. The Impact of AirAsia’s E-Commerce Websites on Its Consumer Buying Behavior.International journal of Tourism and hospitality in Asia Pasific (IJTHAP),4(1), pp.34-42. 10
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Song, G. and Song, S., 2021. Fostering supply chain integration in omni-channel retailing through human resource factors: empirical study in China’s market.International Journal of Logistics Research and Applications,24(1), pp.1-22. Troise,C.andCamilleri,M.A.,2021.Theuseofdigitalmediaformarketing,CSR communication and stakeholder engagement. InStrategic corporate communication in the digital age. Emerald Publishing Limited. Vazquez, E.E., 2021. Effect of an e-retailer’s product category and social media platform selection on perceived quality of e-retail products.Electronic Markets,31(1), pp.139- 157. Wu, H., Deng, Z., Wang, B. and Wang, H., 2021. How online health community participation affectsphysicians’performanceinhospitals:EmpiricalevidencefromChina. Information & Management, p.103443. 11