Quiz 4: Managing Marketing Information to Gain Customer Insights

Business

Social Media Platform refers to software or technology which allows users to build integrate or facilitate communities and interaction among users or user generated content. Social networking sites are example for social media platform. Social Media tools are the ways which enables users to communicate with each other for example comments, apps, blog posts and video shares. Both the tools and platforms overlap with each other. Marketing uses of social media tools: As social media is very popular today among all the demographics, companies are using it as an effective marketing tool for the following: • Marketers are focusing to create a positive influence on consumers towards organization, products or websites. For example various Blogging sites forums which have members who discuss different topics in the groups can be used effectively to market their product offering to the right people group. • Also media sharing can be used effectively for marketing products as it allows sharing media content which if go viral can boost the sales demands highly thus companies should focus on creating videos which can influence mindset of consumers. • Blog posts are been used by marketers to educate consumers and business about their products, to take feedback, also to inform public about the CSR initiatives all these things help organizations to engage their consumers and thus boost their product demands and company image. • Sometimes contests can be conducted through social media tools which are useful for product promotion. • The companies can interact with customers and build long term relationship and also gain loyal customers. There are certain rules and regulations to be followed to promote a company in the social media. If the message is not clear and appropriate, it may generate negative word of mouth about the product.

Social media marketing will be the upcoming hit for all the companies in the coming decades as it provides more benefits (like consumer interaction) when compared to traditional marketing. Company P used social media as one of its marketing strategy. Through this strategy, the company can save money and also increase brand loyalty. The benefits of using online marketing are as follows: • Social media marketing helps organizations to directly interact with the consumers, understand their needs, wants. • Product development and positioning will be easy and can be done more effectively according to the customers. • Social media also allows customers to get their problems resolved directly which strengthen their loyalty towards a brand. • The social media has a wider reach because of the buzz it creates which helps the organizations to reach more customers without incurring much cost in comparison to traditional marketing methods. So the digital presence of an organization do not impact its brand in the marketplace rather helps in saving big money incurred on advertisements on TV which have lower productivity.

NC is leading player in the market of cameras. They offer a wide range of product to a variety of consumers including professional cameras. The company has a presence over social media including F, T YT to engage its customers. Also the company has crores of followers over social networking sites to get familiar about brand, its products or anything new for the NC. The following points explain the activities of social media marketing activities of the company: • It had started a contest in which the contestants have to record a video about their day within 140 seconds which is a creative way to attract customers. • They also launched an application which enables the photographers to share their images and also learn from other members of the group. • The campaigns concentrated mostly on driving the emotions of the customers and customer engagement which made them successful. • They also used the social media to post the news and events of the partnership with a music group as a sponsor where they are able to assure people with their product quality by demonstration. Though NC is using social networking sites only for now, they can also use blogs, micro blogs which can help to teach consumers about their products, or more about photography, photography as a profession, brand and some related topics to engage its customers, motivate them and receive the desired goals. This helps to strengthen the brand further their social presence