Online Marketing Proposal of the French Bookshop - Essay Example

Online Marketing Proposal: The French Bookshop Online Marketing Proposal: The French Bookshop Executive Summary The French Bookshop is a firm that offers all genres of French literature for sale. The firm also offers the books for online purchase. The French Bookshop is situated in Tiong Bahru, Singapore. Access to online purchasing services continues to be a significant component of the society. Over the last ten years, many firms have automated their services due to the innovations realized in the IT sector. Essentially, the advent of computers and smartphones has led to increased productivity and efficiency, diminishing labor outlays and minimizing errors. The utilization of the internet for online purchases has greatly increased over the last decade. In principle, numerous firms have embraced the intensive use of the internet for online business operations. The online market is already flooded with firms, which contest for brand recognition and customer loyalty. In addition, with the constant advancements in IT, internet marketing has opened numerous marketing prospects and has become the trend for a number of companies. Gaining competitive advantage being the target of every firm, a well-organized online marketing strategy is critical for the success of the French bookshop. The assumptions of the Proposal The proposal assumes that the clients know the firm’s products and care about its products. The other assumption is that the Consumers know the products they want and have time to research on the available products. The plan also assumes that consumers will find the entire French Bookshop’s information on the digital landscape. In addition, the clients are assumed to make rational decisions in purchasing the firm’s products. The proposal also assumes that the clients will market the organization’s products by spreading the information about the products of the firm. Situational Analysis Target Market Studies indicate increasing trends in the online markets within emerging economies. The use of the mobile devices and internet technology has also increased among the younger generation. The firm will take advantage of these inclinations to introduce new products in the target market and create a global brand for its new products (Kotler & Armstrong, 2013). Therefore, the target market for the French Bookshop will mainly consist of young people between the ages eighteen and forty years. The market will consist of individuals who are young, outgoing and full of life. In addition, the French Bookshop will utilize premium tactics to appeal to the specific consumer division thereby augmenting the volume of sales. Studies show that the younger populace between the ages of 24 and 34 forms the bulk of the online market since the age bracket accounts for about 24% of entire online market purchases (Kotler & Armstrong, 2013). On the other hand, individuals between the ages of forty-five to fifty-four years account for approximately sixteen percent. Moreover, individuals of over fifty-five years consume estimated twenty-one percent online purchases. Young women in the populace, especially between the ages of twenty-four to thirty-five should also be a major market target due to their elastic reactions to new changes in the product features. Additionally, the French Bookshop will target high-income earners since the richest individuals spend two times more on the online market compared with poorest individuals. Pricing Mix Strategies Quality and value addition attract high prices. However, the price of the French Bookshop’s will target both high-end customers and low and middle incomers. The high-quality low-prices strategy should be applied to outperform the competitors (Kotler & Armstrong, 2013). In addition, the product and pricing strategy should be aimed at widening the spectrum of customers the firm is targeting. While the firm should initially target customers with high-income level, with the entry of more competitors, it should widen its scope and capture middle and low-income clientele. Distribution strategy The major aim of the distribution strategy is to ensure that the products reach the customers at the right time and place (Kotler & Armstrong, 2013). For the products to reach the customers at the right place and time, the firm will utilize the most convenient, fast and less expensive distribution channel. Prior shipment arrangement for overseas markets should be made available, easier and cheaper to increase the movement of the products. The firm should also increase the number of stores by opening new stores in strategic places where customers can be served conveniently. The social Media Landscape The conversations in the social media have several attributes. First, the conversations are disorganized, uncontrolled and not on the message (Evans, 2010). In essence, the social media conversations are often lively, emergent, captivating and full of unintended visions. The utilization of the social media has had immense effects on the firms and their brands. For instance, the social media conversations have nowadays moved from private to public podiums. The use of social media ensures transparency in the companies and their trademarks (Evans, 2010). In this regard, the firm should be ready to embrace the radical transparency. The firm should allow the examination of its products and services, policies and positions. Embracing such evaluation often builds customer and stakeholder bonds, which lead to increased output in terms of online sales. Additionally, the firm must recognize that the customer is king since the instances of corporate arrogance are always met with hostility in the digital media. Genuineness is also another important aspect that the French Bookshop must maintain in the online marketing (Evans, 2010). In reality, any cut off between the firm’s policies, actions and communications often lead to instantaneous and a severe absence of sincerity among the clients. Dialogue is also a critical aspect of the digital and social media landscape. Listening to the customers’ demands and addressing their grievances creates a stronger rapport between the firm and the clients. In the social media landscape, engagement of clients is significant (Evans, 2010). Through the involvement of the clients, the firm is able to invite active participation of the clientele in purchasing the products of the enterprise. In this regard, the organization’s communication should be intended to involve, inspire and galvanize the trademark representatives. In other words, the firm should increase its digital interaction with the clients and the stakeholders. In the digital and social media platform, the violation of the principles of public relations, including transparency, authenticity and engagement are often exposed more promptly. SWOT Analysis Strengths Online marketing reduces the outlays involved in the promotional activities because the firm is able to obtain a wider customer base at lower costs. The digital marketing also eliminates the labor costs and mailing expenses because the communication is done through the digital form (Evans, 2010). Further, there are improved efficiencies for the channel and logistics functions because the firms deal directly with the clients. Increased interactivity of the sellers and buyers is also a strength of the online marketing. Through blogs, frequently asked questions, social forums and feedback forms, the clients are capable of asking and receiving prompt answers on the firm’s products. Weaknesses Given the dynamism of the world, the data in the virtual market keep on changing. Firms have an obligation of updating websites and store online information regularly to stay competitive. Incorrect update of information can impair customer relationships. Security issues and data privacy are significant weaknesses in online markets. Clients are always hesitant to provide personal data or to accept the Terms and Conditions since all privacy policies do not guarantee the safety of the personal information (Evans, 2010). Opportunities The firm is presented with the prospect of using technology to develop new products. The firm is also capable of taking advantage of the growing demand of its products from overseas markets by utilizing the social media. Further, the firm can also utilize the social networks, including Google+, Twitter and Facebook to convey information about its products to a larger customer base (Evans, 2010). Threats The major threat arises from the competitors, which introduce better products at lower prices. Fraud is also a threat resulting from online marketing because hackers often target the sellers’ credit card information (Kotler & Armstrong, 2013). System errors in the computer algorithms and computerized sales and storage databases can be fatal. When a system crashes, the online data can be manipulated. Online Communication Strategies Blogs The use of blogs has gained influence in representing the official voice of organizations. Blogs can criticize the company and review the products of the firm negatively. In addition, the blogs offer business information to clients that enable the customers to learn about the company, its innovations and achievements (Evans, 2010). The firm can also communicate with its customers through the business blogs by sharing the information concerning the new products. Blogs also provide a voice the firm to inform and educate the clients on the culture and new products of the company. Social Networking communities Researches affirm that Facebook, MySpace, Google+, YouTube, LinkedIn, Twitter, Wikis and Pinterest are the most prevalent social networking sites (Evans, 2010). The networking sites allow the firms to interact with the clients and get information about the products of the firms. The company has an obligation to create a presence in such sites (Evans, 2010). Studies indicate that the businesses that use the social networking sites benefit from increased exposure, increased traffic and developed loyal fans. Besides, the utilization of social networks provides marketplace insight, improves sales and reduces marketing expenses (Evans, 2010). References Evans, L. (2010). Social media marketing: strategies for engaging in Facebook, Twitter and other social media. Upper Saddle River, NJ: Pearson Education. Kotler, P. & Armstrong, G. (2013). Principles of marketing. Upper Saddle River, NJ: Pearson Education. Read More