Section 1: Market analysis
High technology based markets are responsible for bringing changes in the adoption of marketing strategies. For this paper, the utilization of a mobile application based business solution will be utilized. This involves the adoption of a mobile application which in turn will lead to the adoption of various other types of marketing strategies. This will mainly involve the utilization of digital marketing strategies which will be used to market their product. Such types of marketing solution are used to showcase the standards of any kind of high technology based market products.
Analysis of the market involved
For adopting the set marketing based strategies, the owners of the product recommends analyzing the market by utilizing their own service offer. This will be aimed in creating visibility in their products which will help in a better analysis of the market which in turn will lead to better customer reach and brand followers. In addition, the application will be provided free of cost to the end-users so that the installation counts of the product can be increased. The additional features of the application will be prompted for buying from the customers involved (Maity & Dass, 2014). This will help in generating revenues from the customers which in turn will lead to the betterment of the customers involved. Lastly, the aim of this application will be focused on generating high user ratings from the customers. This will also help in creating brand related contents so that effective followers are produced.
Marketing framework
In the modern times, the market is being saturated everyday with new kinds of innovative contents. It is thus required for the content makers to analyze the market carefully before opting for advertising. The presence of higher amount of saturation in the digital market makes it a little complex in getting to the crowd. For this reason, the utilization of interdisciplinary framework for strategic marketing is utilized by many marketers on this case (Lu et al., 2015). In this case, the utilization of a single strategic marketing form helps any company to sell high technology based products. The use of such framework is defined by the adoption of integrating factors which can help in getting marketing of the products.
Features
For selling of the mobile application, the utilization of m-commerce is to be used. This type of marketing strategy is mainly utilized for the mobile applications. The utilization of an m-commerce system helps in targeting mobile users with a product that will be installed in their devices. As in the recent era, people have been including Smartphone in their daily lives which have been the reason for the increase in the mobile application market. There are various key-features of the m-commerce sectors which are the main reason for its utilization. The first feature is the presence of ubiquity. This means that the application is always online no matter the location of the requirement (Khan, Talib & Faisal, 2015). This is considered to be the main requirement in business which helps in reaching out to a customer anytime. The next feature is the convenience in use. This helps the end-users communicate to the company involved in a very easy way. In addition, this also helps in making brand awareness in the market involved. This is the main reason for the increase in the interactions among the consumers and the company involved. Lastly, the localization and personalization can be termed as another benefit included in the idea of mobile application development. This helps in determining the location of the consumers which in turn helps in providing personalized services (Heinze, Thomann & Fischer, 2017). For example, in case of any taxi based application, the location of the consumers is first collected and then the services are offered to them. This is the main considerations in business which helps in making lifestyle easier for the customers. This in turn leads to the better brand recognition in the market involved.
Analysis of the market involved
Parameters
According to the m-commerce network, there are six different parameters included which is adopted in business perspectives. The first is the customers who are the end-users. The next are the network operations who are responsible for maintaining the connectivity among the various associated aspects. The third parameter is technology vendors who will provide the necessary hardware and software for the technology involved (Köster, Matt & Hess, 2016). The fourth one is the application developers who are mainly comprised of software developers and technology makers. The fifth parameter includes the content providers who will provide the web content. Lastly, the service providers are the ISPs who will provide services.
Thus, it can be said that the adoption of various marketing networks for high-tech products are to be considered first before adopting for marketing and promotions of the product. This also helps in getting competitive advantage in terms of followers and brand awareness.
Visual illusions are an extensive part of our lives. People around us can experience something like that in a natural way or in an artificial way. Visual illusions are termed as magic in front of normal eyes. It can also be termed as illusions in the ways of science. In the behavioral analysis video by Dan Ariely, the application of visual illusions can help in marketing as well as in changing visions.
After explaining the first context of visual illusions, Dan Areily presented an example of two benches one placed horizontally and the other vertically. This example was to show which one of them was longer (Ariely, 2018). The audience answers were different as they considered the horizontal one to be the longest. However, using the help of science, the length of both the tables was found to be the same. This type of similar ideas was thrown which were eventually on the context of marketing and advertisements.
The video shown by Dan Ariely was also focused on marketing insights. The behavioral analysis shown by Dan Ariely can be utilized in getting more market analysis. On the example shown by him in his presentation, the emphasis was given on an organ donation program across several countries. It was found out that many countries opted less in this program while many other countries opted more in this program. As a result, there were grave differences between the opt-in rates. As he explained the reason for this, the countries which had low opt-in rates, adopted a different marketing strategy while the countries with a higher opting rate adopted a different marketing strategy. The marketing strategy of the lower performing countries include an opt-in page where the people were asked to check the box if they want to adopt the program. The higher performing countries were given a different opt-in box where the people were asked to check the box if they do not want to participate in the organ donation program. This resulted in them getting more response from them and thus the opt-in rate was increase to a much higher rate.
Marketing framework
In this paper, the chosen company is Coca-Cola. The brand advertising is considered in this section of this paper. Due to the context of applying advertisings, the brand has gotten many attentions which are the result of their success. In the recent times, the marketing manager has announced the shift of their marketing campaigns from many to one (Allen, 2015). All the various products related to the company will be united under one campaign name “Taste the feeling”. This will be utilized in getting the brand awareness required for the various products listed here.
The reason for this marketing approach as considered by the marketing management of the company is that it helps in growing the brand equity in all available products in the global economy. It also helps the consumers to get the feeling of satisfaction when they can be able to purchase any product required. These products include coke with or without calories and those with or without caffeine (Leo & Kuntjara, 2017). As a result, a one stop solution will be provided to the customers such that an effective increase in simplicity and brand followers will be gathered. The campaign of the company is also considered to be the one stop for betterment and refreshment of the company.
Application of these illusion ideas in the advertising context of the company concerned can help them to get the required advertising needs. In addition, the utilization of such advertising contexts can also help them in getting more brand awareness. For example, the utilization of opt-in pages and other amounts of marketing strategies can be utilized in getting more visitors to their website. The company can also apply for shipping to the customer homes which will open an e-commerce channel for their company (Hultén, 2017). The associated stakeholders will also be benefitted from these advertising ideas. The stakeholders associated to it are the customers, retailers, advertisers and many other associated perspectives. With respect to the customers, the use of e-commerce business model can be effectively used in getting more website visits and more services being offered. As these types of things are not being adopted by the competitors, the utilization of such marketing strategies can help in boosting the revenue made by the company involved. The next stakeholder aspects are the retailers who are the secondary business prospect of the company associated. As a result of increasing e-commerce sales, it will be able to maximize their sales by using retail based sales as well as e-commerce based sales. To keep up with such demand, the increase in productions is to be met. Such marketing ability will also help the retailers to order bulk quantities from the company involved right in their doorstep (Krzywoszynska, 2015). Lastly, advertisements are other prospective stakeholders of the company which plays an important part in denoting the brand presence among the people involved. As the company is only adopting the utilization of regional advertising channels, the utilization for digital marketing must also be adopted. As a result, the adoption of such channels will bring in additional success for the company involved. Moreover, there are various other advertisement networks that can be applied with respect to Coca-cola brand. Many companies are using the effects of influencer marketing for their channels (Steenkamp, 2017). This results in the formation of a huge amount of brand followers and ultimately results in growing of their network.
Thus, it can be stated that the utilization of alternate advertising solutions can help the company to get additional revenues which in turn will lead to better brand awareness in the market. There are various parts of the world where the associated company is not getting their approaches. The utilization of such channels can help them to reach out to them which will ultimately help in brand recognition.
References
Allen, F. (2015). Secret Formula: The Inside Story of How Coca-Cola Became the Best-Known Brand in the World. Open Road Media.
Ariely, D. (2018). Are we in control of our own decisions?. Ted.com. Retrieved from https://www.ted.com/talks/dan_ariely_asks_are_we_in_control_of_our_own_decisions?referrer=playlist-how_we_make_choices
Ashraf, A. R., Thongpapanl, N., Menguc, B., & Northey, G. (2017). The role of m-commerce readiness in emerging and developed markets. Journal of International Marketing, 25(2), 25-51.
Heinze, J., Thomann, M., & Fischer, P. (2017). Ladders to m-commerce resistance: A qualitative means-end approach. Computers in Human Behavior, 73, 362-374.
Hultén, B. (2017). Branding by the five senses: A sensory branding framework. Journal of Brand Strategy, 6(3), 281-292.
Khan, H., Talib, F., & Faisal, M. N. (2015). An analysis of the barriers to the proliferation of M-Commerce in Qatar: A relationship modeling approach. Journal of Systems and Information Technology, 17(1), 54-81.
Köster, A., Matt, C., & Hess, T. (2016). Carefully choose your (payment) partner: How payment provider reputation influences m-commerce transactions. Electronic Commerce Research and Applications, 15, 26-37.
Krzywoszynska, A. (2015). Wine is not Coca-Cola: marketization and taste in alternative food networks. Agriculture and human values, 32(3), 491-503.
Leo, M., & Kuntjara, E. H. (2017). A SEMIOTIC ANALYSIS ON THE PERCEIVED MEANINGS OF COCA COLA “ANTHEM” VIDEO COMMERCIAL. [email protected] ta Kita, 5(1), 8-14.
Lu, M. T., Hu, S. K., Huang, L. H., & Tzeng, G. H. (2015). Evaluating the implementation of business-to-business m-commerce by SMEs based on a new hybrid MADM model. Management Decision, 53(2), 290-317.
Maity, M., & Dass, M. (2014). Consumer decision-making across modern and traditional channels: E-commerce, m-commerce, in-store. Decision Support Systems, 61, 34-46.
Michalak, J. (2016). USE OF TEXT DATA TO MONITOR MOODS AND PERCEPTIONS OF BRANDS IN THE CASE OF SOCIAL MEDIA. Acta Universitatis Nicolai Copernici. Nauki Humanistyczno-Spoleczne. Zarzadzanie, 43(1), 139.
Steenkamp, J. B. (2017). Customer Propositions for Global Brands. In Global Brand Strategy (pp. 45-73). Palgrave Macmillan, London.
Order an Essay Now & Get These Features For Free:
Turnitin Report
Formatting
Title Page
Citation
Outline
