SOLUTION: MKTG 650 Prairie View A & M University Strategic Marketing Management Paper


© 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. © 2018 Cemploy Learning®. May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 13 Social Media © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 13. 2 Marketing Framework © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 13. 3 Discussion Question #1 • Narrate a gregarious resources antagonism in which you feel sundericipated. © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 13. 4 What Are Gregarious Media? • Gregarious resources • Tribe interacting and connecting behind a while others via online software or alternative electronic entrance technologies • Traditionally, customers were recipients • Behind a while gregarious resources, customers now feel dialogue behind a while stigmas • Customers shaft endorsements and vent • Marketers feel short control © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 13. 5 Media Trends • Gregarious resources and movable chaffering are growing • Newspapers and magazines are declining • The calculate of radio stations is growing, but consumers surrender-ear short • The calculate of TV channels is growing • Fragmented parley facilitates targeting © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 13. 6 Social Resources Properties/Types • Some gregarious resources • Offer very superb, bright sensory experiences: • • • • e.g., Virtual worlds, video games Are simple: e.g., Blogs, forums Are primarily gregarious: e.g., Facebook Are industrious: e.g., Wiki, LinkedIn Vary in commerciality: e.g., Facebook has gregarious pleased and ads for revenue © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 13. 7 Discussion Question #2 • Given the preceding slides and a limited budget, how potentiality you aid the launch of a new contriver drapery dedicate? © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 13. 8 Word-of-Mouth (slide 1 of 2) • Gregarious resources facilitates word-of-mouth • Word-of-mouth is masterful and credible • Going viral; creating buzz © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 13. 9 Word-of-Mouth (slide 2 of 2) • Word-of-mouth labors polite-behaved-behaved behind a while • Exciting fruits • Clever ad antagonisms • Humor, clear surrender-aways, gregarious causes – e.g., Geico Gecko has Facebook adherents • Extraverted consumers • Consumers behind a while wide gregarious networks © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 13. 10 Social Networks • Sociogram: networks in graphical frame • The set of perpetrators and intellectual ties • Actors may be customers, firms, stigmas, etc. • Ties can be symmetric • e.g., Joe and Sally are coworkers • Ties can be plainional • e.g., Joe likes Sally • Ties diversify in strength • Netlabor decomposition insist-upons tabular representation (sociomatrix) © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 13. 11 Social Netlabor Example • • • • Strong reciprocal integrate betwixt perpetrators B and E Weak unidirectional integrate from C to B F is isolated B, C, and E frame a group © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 13. 12 Identifying Influentials (slide 1 of 3) • In gregarious networks, some members are departed united & controlling than others • Aim is to fix very-ample controlling members, induce their endeavor of fruits, and drive the diffusion process • Locating resourceste members • Centrality indices are computed for each perpetrator in the netlabor to narrate the position of that perpetrator referring-to to the others © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 13. 13 Identifying Influentials (slide 2 of 3) • Centrality: Number of connections each perpetrator has behind a while the others • Centrality index • Mediate = frequent links • Peripheral = fewer links © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 13. 14 Identifying Influentials (slide 3 of 3) • Cliques • Groups of tribe in the network • Common in stigma communities, affinity groups, cell phone adherent networks, etc. © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 13. 15 Recommendation Systems (slide 1 of 2) • Structural equivalence • Two customers are equiponderant if their escheatment patterns are the same • Used in advice agents © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 13. 16 Recommendation Systems (slide 2 of 2) • Result of gregarious resources • Axioms of escheatment patterns or ratings are aggregated balance frequent tribe • Customers charge online advices • It is departed trustworthy than advertising • Resistance • Conservative, older CEOs don’t squander money on celebrity they don’t know © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 13. 17 Social Resources ROI • Gregarious resources seems clear but is not • Main absorb may be salaries for intention and labor • Key operation indicators (KPIs) • Reach, abundance, monetary esteem of customers, customers’ actions, attitudes, memory, etc. © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 13. 18 Social Resources ROI: Awareness • Pre-purchase: awareness • Aim can be achieved via • Traditional resources and meted online – e.g., Magazine tells recognizeer to know departed by going to a sundericular Web page • Online and meted online – e.g., Web ads, inquiry engine status • Resources that optimize aim • Twitter, Facebook, YouTube © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 13. 19 Social Resources ROI: Stigma Consideration (slide 1 of 3) • Pre-purchase: stigma consideration • Offer departed counsel to set-up knowledge and persuade • Use resources that surrender departed pleased • e.g., Inquiry engine ad importation, podcasts, shaft counsel in stigma order, surrender customer testimonials © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 13. 20 Social Resources ROI: Stigma Consideration (slide 2 of 3) • Pre-purchase: stigma consideration (continued) • Inquiry engine optimization (SEO) • Consumers inquiry when they don’t feel a preferred stigma • Keyarticulation remain on customer knowledge • To ameliorate SEO • Put meaningful keyarticulation in Web page title • Order the articulation behind a while most dignified first © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 13. 21 Social Resources ROI: Stigma Consideration (slide 3 of 3) • Pre-purchase: stigma consideration (continued) • Key Web analytics • Frequency: calculate of visits and calculate of unique strangers • Duration: opportunity departed per page and balanceall opportunity departed on the site – Bounce rates: percent of one page visits – Conversion rates: when a stranger transitions from a looker to a doer © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 13. 22 Social Resources ROI: Purchase/Behavior (slide 1 of 3) • Purchase/behavioral employment • Induce any enjoyment that employs the prospective customer • What do they unconcealed, what do they download? • Do they observe demos that may be succorful? • How ample opportunity are they squandering on which purchase-related pages? • Do they register to maintain to newsletters? • Instead of “Contact Us” chafferers prefer forms that stop specific counsel © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 13. 23 Social Resources ROI: Purchase/Behavior (slide 2 of 3) • Purchase/behavioral employment (continued) • KPIs may include • Calculate of shafts environing the stigma • Parley set-up as meted by incoming links and the hasten of that growth • Conversion rates: frequencies of Web strangers to employ in the focal action referring-to to the calculate of strangers who follow to the website © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 13. 24 Social Resources ROI: Purchase/Behavior (slide 3 of 3) • Costs of the enjoyments remain on aims • Estimates of wages absorbs; acquittal for importation in inquiry engines or mete ads, sending emails from a rented discourse axiomsbase, etc. • Effectiveness of enjoyments can be assessed by frequencies, rates, and durations © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 13. 25 ROI for Gregarious Media: Post-Purchase • Post-purchase • Satisfied customers • Customers may shaft overbearing reviews, surrender endorsements, etc. • Dissatisfied customers • Company can recognize complaints, discourse issues, surrender incentives, etc. © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 13. 26 How to Proceed (slide 1 of 3) • Engaging in all gregarious resources is not desirable • Some resources fit chaffering aims and target chaffer emend than others • Gregarious resources insist-upon instrument-of-support and constant activity © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 13. 27 How to Proceed (slide 2 of 3) • Companies can know by lurking or Web crawling • Monitoring tweets, blogs, and discussions • Analyzing citation on Facebook to know customers’ opinions environing stigmas • Inquiry stigma’s page or inquiry for stigma name on other shaftings • Analyzing pleased to descry consumer trends • Checking websites for misinformation © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 13. 28 How to Proceed (slide 3 of 3) • Companies can actively create interventions • Enter online communities and ask for volunteers for beta testing • Experiment to mete the good-tempereds of changes in the chaffering mix • Mete attitudes, click-through rates, signup rates, etc. • Use GPS axioms to way customers and surrender offers © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 13. 29 Discussion Questions #3 • You are a chaffering superintendent for Nike. Discuss a gregarious resources artifice to 1. Know environing your customers. 2. Encourage endeavor. © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 13. 30 Managerial Recap (slide 1 of 2) • Gregarious networks are an dignified and provocative channel • Gregarious resources are Web-based instrument of interacting behind a while others by shafting opinions, pictures, and videos • Gregarious networks are the structures of interconnections unmoulded customers that propagate word-of-mouth © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 13. 31 Managerial Recap (slide 2 of 2) • Networks can be analyzed • Gregarious resources ROI and KPIs can be computed behind a while the succor of online analytics behind the chaffering aims are understood © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 13. 32 © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. © 2018 Cemploy Learning®. May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 12. 12 Integrated Marketing Communications and Media Choices © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 12. 2 Marketing Framework © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 12. 3 Discussion Questions #1 1. Name all of the resources in which you feel seen Kentucky Fried Chicken (KFC) aidd. 2. Why do you fancy these resources were chosen? © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 12. 4 What Resources Decisions Are Made? 1. How ample do we squander? 2. What is the list of outgoings? 3. Which resources do we use as channels of our communications? © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 12. 5 How Ample to Spend (slide 1 of 3) 1. Percentage of sales • Percentage is established by preceding years’ sales or toil norms • Percentage is then adjusted remaining upon this year’s aims © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 12. 6 How Ample to Spend (slide 2 of 3) 2. Competitive parity • Determine what competitors are spending • In some industries, ad squandering is proportional to income © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 12. 7 How Ample to Spend (slide 3 of 3) 3. Strategic advertising aim • Set a strategic aim (awareness, attitude change, etc.) and then labor ill-versed to determine how ample should be departed to aim the aim • Advertising is viewed as an bombardment that will produce sales and profits • Need to know aim and abundance © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 12. 8 Reach, Frequency, and GRPs (slide 1 of 2) • Reach • The divide of your target that has seen your ad at smallest once • Frequency • The medium calculate of opportunitys target saw the ad (amid set period) • GRPs: Aim × Frequency • Ad aimed 25% of target an medium of 3 times—the ad delivered 75 GRPs © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 12. 9 Reach, Frequency, and GRPs (slide 2 of 2) • For aim, the aim is to betray as frequent of the target customers as possible • Find the most absorb-efficient resources • Abundance remains on the aim • Awareness and memory—a few exposures • Persuasion may obtain?} departed • Readily implied ads consume out quickly © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 12. 10 When to Schedule • It absorbs departed to get higher ratings • However, the relationship is not perfect © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 12. 11 When to Schedule: Concept in Action (slide 1 of 2) • Example • Big Bang Theory: 6.3 pet TVs • $328,000 per 30 seconds • McDonald’s asceticism contribution: $0.50 • $328,000/0.50 = 656,000 asceticisms/breakeven • 6.3 pet viewers are betrayd; thus, McDonald’s needs 10.4% to escheatment • 656,000/6.3 pet = 10.4% • Is this reasonable? © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 12. 12 When to Schedule: Concept in Action (slide 2 of 2) • Continuous: rectilinearity in ad exposure • Occasional: pop up from opportunity to opportunity • Seasonal: exceptional and focused on the preterm time for the fruit • e.g., Initiate arrangement in August © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 12. 13 Discussion Questions #2 • When would you praise advertising 1. Your initiate? 2. Oil changes? © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 12. 14 Which Media (slide 1 of 7) • The excellent of resources egress is difficult because… • There are departed resources egresss • e.g., Departed television stations, departed radio stations via XM, and the Internet • Audiences are fragmented abutting the frequent resources and use technology to zip departed ads © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 12. 15 Which Media (slide 2 of 7) • Integrated chaffering communication • When advertising abutting resources • Consider the company’s balancearching strategy • Ensure a compatible message – All communications » e.g., Trade advertising, identical selling, plain marketing, and fruit importations – As polite-behaved-behaved as other chaffering mix elements » e.g., Fruit delineation, pricing, and channels • Play to each resources’s strength © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 12. 16 Which Media (slide 3 of 7) • Resources Choices: Referring-to Strengths on Business Measures © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 12. 17 Which Media (slide 4 of 7) • Resources comparisons • TV ads • Most expensive; render the widest aim; render a ample not targeted aim; cable allows some targeting; abundance is expensive • Magazines • Feel ample resort or can be targeted • Radio and newspapers • Purchased nationally, but can be escheatmentd for topical chaffers © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 12. 18 Which Media (slide 5 of 7) • Resources comparisons • Billboards are referring-toly uncostly; good-tempered for topical coverage • Radio, newspapers, and magazines are short expensive than TV, but they also deliver smaller parleys • Magazines insist-upon hanker manage opportunitys for production; feel good-tempered-tempered plurality quality © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publicly unshut website, in undivided or in sunder. 12. 19 Which Media (slide 6 of 7) • Resources comparisons • Newspapers and magazines are nonintrusive; viewers can repudiate ads • Online and plain mail can be customized • Online ads are uncostly and can be targeted; Internet sharpness isn’t 100% • Plain mail is referring-toly uncostly and targeted; not efficient (junk mail) © 2018 Cemploy Learning.® May not be scanned, copied or duplicated, or shafted to a publi ...
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