Twitter (Marketing) - Essay Example

Marketing Overview To succeed in today’s market, each business regardless of size, scale, and industry, needs to have a complete and competitive market strategy. A marketing strategy may involve development of a company’s typical product lines, pricing, retaining customers, appealing to new customers, and competitive survival.iAn overall marketing strategy also includes the differential strategy as well revenue comparison and product lifecycle of the companys products and services.Twitter’s Marketing StrategySuccessful marketing can be defined as achieving a sustainable competitive advantage and increasing sales to increase revenue.

Twitter’s marketing strategy includesboth short-term and long-term activities in a formulation of market-oriented strategies. The main goal of Twitter is to increase the membership all over the world tosupport reach for its advertising clients.  Market position of products and servicesii please explain what these charts representThe Twitter Social Media Company has many services such as self-service ads, tweets, user-sharing photos that are used by individuals as businesses alike.iii Today, Twitter has more than 500 million members, of which 284 million members are considered active users.

In terms of the number of users, Twitter is far behind Facebook, its closest competitor.iv As Twitter is introducing new services and improving its Internet reach over the last few years, itsmarket position is improving.vThe aMain trend in Revenue generation via marketingviIn the last three quarters what year, the revenue generation of Twitter is increasing with the fast user growth. However, although the revenue is growing at a fast pace, the amount of users has slowed in comparison to Facebook.

For the first time in history, the company has posted revenue of more than one billion dollars.viiMix of Marketing and AdvertisingThe firm uses various types of advertising and marketing mediums to enhance the reach of the product and services that are connected to the Internet. Twitter uses all mediums in an effort to increase the members such as email, search engines, back links to websites. This popular website also uses many mediums such as TV, movies, etc. as a part of advertising strategy.

Twitter is also an important part of SEO or Search Engine Optimization strategy. One of the main advantages of this service is that the signing up of the account is free and the site offers free publicity for the members, whether it is the company page or an individual. They can offer a free link to the customers by clicking on a short link offered by the company. In exchange, the site also gets free advertising in every medium. This paragraph is not clear. What is the mix of advertising that they use to promote Twitter rather than how Twitter clients use Twitter to promote themselves.

Main products in product lifecycleviiiThere are four main stages in the product life cycle of any product or service in the market. The first two stages of the product cycle include introduction to the market and growth of the product in the market. The remaining two stages involve maturity and decline of the product in the market. Presently, the services of Twitter are at the growth stage of the product lifecycle.okDistinct segments or differentiation strategyixThe diagram above depicts a basic type of competitive strategy, which is used for distinguishing a company in the consumer view ofthe market.

It can also be defined as making the brand stand out by offering various unique features, services or benefits. Twitter is an open source and free service offered to the user, similarto its competitors, Facebook and Google Plus.Twitter uses unique features of the product to stand out such as direct messages and re-tweeting that can be forwarded to followers.x4 P’s StrategiesxiThe marketing mix of any companys strategy or “4P’s strategy” plays a vital role in success or failure of the company.

The theory of 4P’s can be broadly defined as the factors that can be controlled by the company in the market. In the overall market, they are constrained by internal and external factors.The product component determines the design, name, and packaging. As the Internet does not have a direct impact upon attributes of Twitter, it does not fit here. The price of the product refers to the cost of the product itself. The seasonal or volume of discounts will be decided by the place and how it is delivered to the market.

As for the most part, Twitter is free it does not fit here.  The 3rd P refers to the placement of product such as supply-chain management. Although, any e-commerce site can become an effect fit, but Twitter does not fit strongly in this category.  The 4th P refers to promotion and communication and includes public relations, advertising and strategy of promotion. As Twitter is all about the communication, this is the best fit in 4Ps strategy. Your 4 Ps makes no specific statements about how Twitter uses this mix.

Please revise to explain each P in terms of how Twitter uses them.