Posted on : 2023-10-01 21:02:36
Article : Good morning Monday Management solution for TASK 261- The strategy of marketing is essential since, without it your business or economy won’t work due to a lack of sales.
In our society, marketing is referred to as the most relevant and crucial activity. It determines whether your business enterprise will work or not. It is an element used to maintain and create demand, reputation, competition, and several activities. The strategy of marketing is essential since, without it, your business or economy won’t work due to a lack of sales. Marketing is relatable to the business, society, individuals, consumers, economy (developing), business firms, individual business enterprises, and developing countries.
In the 1990s, online marketing- the practice of driving actions on the internet have exploded. Marketers suddenly found themselves in race to optimize and outcompete with banner ads, search engine optimization, social media, retargeting and a slew of other digital marketing channels. While online marketing isn’t going anywhere soon, offline marketing—formerly known as just “marketing”—has had a recent resurgence. 95% of marketers agree that live events provide attendees with a valuable opportunity to form in-person connections in an increasingly digital world.
The use of the internet and social media have changed consumer behaviour and the ways in which companies conduct their business. Social and digital marketing offers significant opportunities to organizations through lower costs, improved brand awareness and increased sales. However, significant challenges exist from negative electronic word-of-mouth as well as intrusive and irritating online brand presence.
In this part of our article now let us discuss few brands marketing activities like digital, online and in-store. Zappos, a leader in online shoe ecommerce, sets the gold standard for online customer care. It’s no shock that they have a stellar digital strategy. Not only does Zappos provide a 365-day money back guarantee, but they also have free shipping both ways as well, should consumers decide to return or exchange products purchased on the site. As a result, Zappos doesn’t have to work hard to market its online presence, its policies are so appealing to consumers that shoppers are eager to sing the company’s praises to one another in a completely organic (and viral) fashion.
Of course, Zappos does still invest heavily in online marketing, and its social media campaigns shouldn’t be missed. Look at how they focus on what the customer wants and needs, but not on what they want the customer to want or need. This is a key part to any effective digital strategy. So listen to your audience and plan accordingly. Content marketing is the way of the future, but it must be managed appropriately to be effective. Online content marketing campaigns should strive to produce measurable results in proportion to the resources committed to them.
Now Coming to in-store campaigns- Burger King conducted a daring guerrilla marketing campaign by unexpectedly offering a truce with McDonald’s to support a non-profit plan called Peace One Day. Burger King took out a print ad in the New York Times with an open letter to the McDonald’s CEO and also bought billboards next to the McDonald’s restaurants to publicly offer a collaboration with them. The campaign took McDonald’s by surprise and McDonald’s actually turned down the offer. But the campaign generated a significant number of fans who followed an online instructional video by Burger King to create and share content of themselves eating a self-made “McWhopper”. Learning point from this marketing point is to consider ways to leverage your market share leader or competitor’s brand name and popularity.
Now let us see what IKEA did in Montreal Canada-In Montreal, Canada, there is a specific day dedicated to moving houses for the residents. IKEA, the mega furniture store has always supplied, free IKEA-branded moving boxes. But in 2014, they decided to innovate on the current campaign by designing theses free moving boxes as actual-sized replicas of IKEA furniture. Montrealers were able to move into their new home and then test out IKEA products before committing to a purchase. Learning point from this marketing point is that sometimes, you don’t need a new marketing campaign, you simply need to revisit an old or current campaign and give it a new splash of creativity to kick it back into high gear.
End point-In-store marketing is the ultimate customer magnet for brick and mortar stores. While it might seem like eCommerce platforms are always a step ahead, brick and mortar stores can offer amazing experiences to their customers right at the point of sale. This is the main benefit of in-store marketing tactics: they take place when the customer is engaged and ready to shop, unlike digital marketing tactics that might be too disruptive.
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