Marketing as an important part of business management
Write about the Marketing for Customer Experience In-Store and Online.
Marketing is an important part of business management that helps the firms to improve their knowledge about products and services companies are planning to offer to their customers. — found that marketing is a process that assists the firms to develop their resources and plan long-term and short-term strategies for the firm to advertise, promote, and reach their targeted customer audience to increase their sales. The process of marketing management looks forward to employing tools and tactics, for example, Porter’s five forces, SWOT analysis, Ansoff matrix, and others with the help of marketing analysis to achieve their business objectives (Beck et al., 2015). The considered assignment is focused on discussing two real-life case studies to highlight their marketing strategies to determine their success with the help of evidential sources. The analysis section has helped the study to formulate understanding and explain the use of resources to improve organisational decision-making approach in reaching customer’s expectations.
Considering the initiatives taken by Disney using social media, it is found that the company has planned to utilise social media to outreach its audience (Disney Enthusiasts) in an entertaining way. The audience reach of Disney is about 300 million on Facebook, the company has been using all the right tactics to improve its focus, and for example, it is not only using Facebook but other media networks such as Twitter, YouTube, Google Plus, and others. Currently, Walt Disney has more than 3.5 million followers on different social media pages actively engaging in marketing tactics. Meanwhile, it has generated more than 365 million followers on YouTube. The company does have disclosed its marketing budget. However, it’s vital financial resources are invested in social media marketing to extract benefits from its resources and connect directly with Disney enthusiasts. This has helped the company to achieve its targets and improve its focus to reach a wide customer range around the world (Abramovich, 2012)
PepsiCo Snacks has been actively working in the industry since a very long time, the demands of the company have been increasing continuously, the reason behind this element is the right use of marketing approach utilised by the company to redefine its brand, introduce new product line, and develop generated advertisement to promote its products. The marketing expert of PepsiCo Ann Mukherjee determines that 76% of their purchase decisions were influenced even before customers start shopping. It is because of the marketing approach to communicate with the customers directly to increase good word of mouth. This particular marketing plan is focused on promoting Doritos, the motto was determined as Young and Hungry for customers. The Metaphor for driven by the choices of customers aligned with technology and music. With Doritos, the company has not relied on traditional media, but it has adopted a social media marketing approach to promote the product among its potential customers. This tactic has helped the company to increase its profits and performance in the industry (Whittemore, 2015)
Disney’s social media marketing approach
Babin & Zikmund (2015) stated that the success of marketing strategies relies on different elements such as segmentation, targeting, positioning, promotional tactics, monitoring and evaluation and others. The considered cases included in the paper determine that both Disney and PepsiCo has been working with diverse marketing strategies to achieve their targets and improve their focus. Both the companies have been using both traditional and modern marketing strategies to achieve their objectives. According to Bhattacharya (2016), PepsiCo and Disney are both well-aware of their target groups and segmentation that help them achieve their target and reduce the chance of marketing failure. The determination of segmentation has helped the companies to create a focus and plan its future strategies according to the demands of the customers. Considering the case of Disney, it is found that the company has not only focused on children, but they have also focused on Disney enthusiast across the world (Bhattacharya, 2016).
This element can be considered as the key success factor for the company to target the customers; meanwhile, it has also helped Disney to increase the range of its marketing strategies across the world. While on the other hand, in case of PepsiCo, it is found that the company has been working in the industry for almost a century and it has adopted various strategies to reach new customer range continuously as determined by Brown et al. (2000). The marketers of PepsiCo has been focused on adopting diverse marketing approaches to reach customers, for example, it has been working with traditional marketing strategies, for example, celebrity endorsement, newspaper marketing, and others. Recently, it has been working with social media marketing strategies to promote their products; both types of strategies had helped the company to achieve its targets. Comparatively, PepsiCo and Disney have been using diverse marketing tactics to achieve their targets.
Therefore, to formulate a perspective any further, it will be beneficial for the study to evaluate and analyse the underpinned cases with the end goal to formulate understanding and look forward to achieving its targets. They can also look forward to forming a marketing plan for the companies over long-term; it can increase the ratio of its success among its customers and respond to the changes of the industry timely (Chari et al., 2014)
Considering the undertaken cases for the assignment, it is found that both the companies understand the importance of marketing methods, tools, and techniques to achieve their required targets, however, in order to improve their focus, it will be beneficial for the study to look forward to adopting changes with the change in the trends of the industry as well as business approach, for example, in the case of PepsiCo, it is found that the company has been investing its capital in modern marketing approaches recently, they have been investing heavily in social media marketing strategies to achieve collaborative goals. Research shows that marketing management normally works as state of the art for companies such as PepsiCo, Disney and other giant firms working in the industry. These also include SMEs and entrepreneur projects working in the industry to increase the awareness of company’s products and services among their target market (Whittemore, 2015)
PepsiCo’s diverse marketing strategies
Furthermore, it is important for the firm to look forward to considering marketing management to plan, manage, deliver, and communicate their goals and objectives to gain customer value. It determines that firms are required to utilise their strategies using marketing tools such as Ansoff Matrix, marketing mix and others. In cases such as PepsiCo and Disney, product development is not a new approach, both the companies are keen to introduce their products from time to time, they work with diversification approach to improve their service criteria, in addition, they are also keen for market development. The only possible approach for companies such as PepsiCo and Disney is market penetration, these firms have been working in the industry for quite a long time, and therefore, it is essential for these firms to use their required approach and increase value to their products and services to target customers and achieve business targets (Eid & El-Gohary, 2013). In addition, the key to the successful business approach is to look forward to adopting adequate business communication skills; marketers are required to plan their strategies focused on different marketing models and market research to understand the expectations of the customers. It further helps the companies to determine their prices, promotional techniques, design their products and services and set organisational objectives to achieve collaborative targets. It can help the individuals to strengthen the marketing approach of the firm to achieve its targets and sustain its position. Marketing strategy is tied in with associating understanding to activity with prospects with clear and convincing messages when they will be generally open. The objective is to convey ideal profits for its marketing speculation. The way to a strong marketing strategy comprehends the necessities of record holders, prospects and the commercial centre. With refined instruments and methods, it is critical to assemble client feelings, assess their encounters, and measure mark recognition (Abramovich, 2012)
Conclusion
To conclude, it can be said that it is important for companies to achieve their targets by using diverse marketing mediums to promote the products and services to their target market. The assignment has used the two cases of Doritos and Disney, both the companies have been using social media marketing strategies, it has helped the firm to improve its focus and increase its profits. The analysis section determines that the firm has been using all the right tactics and tools to achieve its marketing objectives. The adoption of right marketing techniques has helped the underpinned companies to improve its profitability and productivity in the industry and maintain its competitive advantage.
References
Abramovich, G., 2012. Inside Disney’s Social Strategy. [Online]
Available at: https://digiday.com/marketing/inside-disneys-social-strategy/
[Accessed 31 07 2018].
Babin, B. J. & Zikmund, W. G., 2015. Exploring marketing research.. s.l.: Cengage Learning.
Beck, J., Chapman, K. & Palmatier, R., 2015. Understanding relationship marketing and loyalty program effectiveness in global markets. Journal of International Marketing, 23(3), pp. 1-21.
Bhattacharya, C., 2016. Responsible Marketing: Doing Well by Doing Good. GfK Marketing Intelligence Review, 8(1), pp. 8-17.
Brown, J. R., Dev, C. S. & Lee, D. J., 2000. Managing marketing channel opportunism: the efficacy of alternative governance mechanisms. Journal of Marketing, 64(2), pp. 51-65.
Chari, S., Katsikeas, C., Balabanis, G. & Robson, M., 2014. Emergent marketing strategies and performance: The effects of market uncertainty and strategic feedback systems. British Journal of Management, 25(2), pp. 145-165.
Eid, R. & El-Gohary, H., 2013. The impact of E-marketing uses on small business enterprises’ marketing success. The Service Industries Journal, 33(1), pp. 31-50.
Whittemore, C.B., 2015. Exploring the Customer Experience In-Store & Online. [Online]
Available at: https://www.simplemarketingnow.com/blog/flooring-the-consumer/connecting-with-customers-in-a-world-of-demand-doritos-brite15
[Accessed 31 07 2018].
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