Social media marketing: is a form of internet marketing that involves creating and sharing content on social media networks in order to achieve marketing and branding goals. It includes activities such as posting text and image updates, videos and other contents that achieves audience engagement, as well as paid social media advertising
Viral marketing: is when consumers are encouraged to share information online about the products of a businesses
Benefits of advertising on social media networking (eg. Facebook) :
Target specific demographic groups
Target customer will see the advert when they go to Facebook
Speed in response to market changes
Cheap
Can reaches difficult group
Disadvantages:
Can alienate customers
May have to pay if using pop-ups
Potential customers may not use social media
Lack of control if used by others
Messages may be used in a bad way -> bad publicity
Benefits if business advertised its own website:
No extra cost
Control of advertising
Can change adverts quickly and update pictures and prices
More attractive
Can provide more informations, pictures and links
Attracts funds/ payment
Disadvantages:
Potential customers may not see the website
Relies on customers finding the website
Design costs of the website may be high
E-commerce: is the 'online' buying and selling of goods and services using computer systems linked to the internet and apps on mobile/ cell phone
Opportunities to business:
Low-cost promotion: Website can promote the company/ product worldwide much cheaper
Global coverage: Order can be taken over the internet
Purchase more products: Encouraged customers to purchase more product than they intended
Dynamic pricing easier: It gives great price flexibility and leads to higher revenue for the business
B2B easier: easily make online purchases of supplies and materials from other businesses
Threats to business:
High competition: Many businesses now offering website
Web design must be clear, attractive -> might lead ti further cost
Transport costs: per product sold is higher than selling through tradictional way
No direct contact with customer: business does not gain useful market research
"Return": most countries have legal right to return the the goods and add to businesses costs
E-commerce is not suitable for services which consumers expect personal face to face service
Opportunities to consumers:
Convenient: No need to leave the house
Easy to compare: comparison between prices and products or services by surfing websites
Easy to pay: credit or debit card is very easy
Lower price: consumer can by some products for prices much lower
Customers can buy parts or components from manufacture without the addiction of retailer's profit margin
Cheaper shipping: packaging and transport costs have fallen due to competition
Threats to consumers:
Internet access required: low income consumers might not be able to access
Cannot see/ feel products: product cannot be seen, touched or tried on
Identity theft: identity theft of credit cards if they buy goods online
Technical problems: computer system failures or weak internet connection can results in frustrated
No personal contact: there is no face to face contact with sale staff so it is difficult to find out more informations
Comments