Use of Social Media in Marketing - Coursework Example

Blog Student Name: Institution: Course Title: Course Code: Date of submission Use of social media After the rise of the internet in the world social media usage has increased all around the global. Examples of social media include Facebook, Instagram, what’ Sapp, YouTube among others. The number of people using social media in 2011 is less compared to those who are using in 2017. The most popular of all is Facebook which enjoys a tremendous percentage number of users in the whole world. Blog image: https://www.google.com/search?q=graphs+of+social+media+statistics+in+australia+from+2011+to+2017&safe=off&source=lnms&tbm=isch&sa=X&ved=0ahUKEwjAlpa0n4jUAhXGECwKHcsUBGAQ_AUIBigB&biw=1366&bih=662#safe=off&tbm=isch&q=images+of+facebook+user+in+Australia+&imgrc=npX03AJ2LZ5EoM: Therefore social media has a huge effect on the market since it can be used to change the mind of many consumers. Also, the company can quickly identify the target in the market. Literature review Social media mostly is used in advertising of the products to the consumers, and it covers vast range before it reaches the consumers. For instance, the company creates a Facebook page and also Twitter handle. A business using social media benefits by understanding the market in the side of the customer perspective. Also, interact with the client to create by answering any troubling questions resulting in the creation of a friendly relationship. Customer behaviour may be controlled by changing the mind and thought during the pre-thought period. The company learns new ideas from clients while interacting which helps in improving the quality of the product. Implications to Australian Business It is evident that social media covers a broad range of people in the society and therefore it is advisable for the firm in advertising of their products. Company innovative can be developed within a short period (Mount & Garcia 2014). The main benefit of the social media to the company is saving the cost of advertising and travel. Another is broadening of the target market since more consumers become aware of the product. Many companies have been forced to change the structure to accommodate the change of the social media. The result is many companies haves set aside a team responsible for monitoring the social media and also what the competitors’ are doing. The team set aside also acts as customers care to answer the clients question regarding the services offered by the firm. Aims of the companies have been changed from individual-oriented to consumer-oriented, the taste of customers considered before producing a product rather than what the company wants. The Democratic environment has been attained in the market favouring all companies despite the size; users are aware of the products manufactured by many businesses (Bertot. et al. 2010). Establishing a business is easy since an individual advertises online implementation and reaches many people. The recommendation is that most companies need to focus on Facebook. Blog image: https://www.google.com/search?q=graph+of+how+social+media+has+affected+business+in+Australia&safe=off&source=lnms&tbm=isch&sa=X&ved=0ahUKEwiB56i1r4jUAhVB3iwKHY3GBpwQ_AUICygC&biw=652&bih=525#imgrc=KS__qQDeAWPWOM: References Mount, M., & Garcia, M. M. (2014). Social Media: A Tool for Open Innovation. California Management Review, 124-143. Bertot, J. C., Jaeger, P. T., & Grimes, J. M. (2010). Using ICTs to create a culture of transparency: E-government and social media as openness and anti-corruption tools for societies. Government information quarterly, 27(3), 264-271. Market Positioning Introduction Term position in the market is the influence that an individual brand creates to the consumers with the aim of obtaining uniqueness in the market compared to other competitors (Slack, N. 2015). Mostly it is done by the use of statement intended to trigger demand. An example is the Guinness that has a brand statement “reach for greatness.” The statement ensures company gains the upper hand in the market being in an advantageous position. The above is a marketing strategy used in the market to make a commodity have uniqueness for easier recognition by users. Blog Image: http://rebeccahalldesign.com/guinness/wp-content/uploads/2015/10/2006AH22481.jpg Literature review The aim of positioning is to make the brand competitive which is done mostly by examining of price and quality. The following is the process followed in positioning. The process that follows is identifying the main competitors in the market and recognising the positioning they are using. Another one is researching the best consumer statement to use so as to emerge top of the positioning. After coming up with the brand statement then implement it in the market. The final step is researching on the effect to the market if it is further positive research done. Once position in the market is established it is difficult to reposition since the mind of the consumers in the market has already been set. Successful positioning is done with a target, so the company is first so as to come up with something that fits them appropriate. Research is done in the market enabling deeper penetration to reach all the consumers. Clients in the market end up being the most beneficially since companies revised the prices. The Implication of positioning to Australia market Companies’ ends up making profits since goods produced are done with a certain target in mind and in a way to a suite. Another is by applying positioning the products in the market are made in a way that they fulfil the clients’ needs. Therefore goods with intent to fulfil a certain need in the market. Another is research is done in the market so as to understand the stand of the competitors and known how to counter. Currently in Australia quality of products in the market improved due to competition. Influencing the way consumers thinks about a particular substance. The result impacts directly to the decision of buying (Van Doorn, J, et al. 2010). If the characteristic of the commodity matches with what the consumer wants they purchase and if it does not sales are lost. Therefore the product increases the demand in the market all end up losing. Blog Image: https://www.google.com/search?q=position+of+guinness+beer&safe=off&source=lnms&tbm=isch&sa=X&sqi=2&ved=0ahUKEwj79p7dw4jUAhWE3SwKHWzsDYcQ_AUIBigB&biw=652&bih=525#safe=off&tbm=isch&q=position+in+the+market+&imgrc=64wwdff3UvZ_-M: References Slack, N. (2015). Operations strategy. John Wiley & Sons, Ltd. Van Doorn, J., Lemon, K. N., Mittal, V., Nass, S., Pick, D., Pirner, P., & Verhoef, P. C. (2010). Customer engagement behaviour: Theoretical foundations and research directions. Journal of Service Research, 13(3), 253-266. Supply and demand Introduction Blog image: https://www.google.com/search?q=supply+and+demand&safe=off&source=lnms&tbm=isch&sa=X&ved=0ahUKEwixnf2r1IjUAhWGWCwKHSZjDU4Q_AUICygC&biw=652&bih=525#imgrc=oFdAfgxr__ISsM: Supply is the quantity of a product or service that is available on the market waiting for the buyers to purchase (Heckmann, I. et al. 2015). Demand is the extent at which the goods and services are bought by the consumers in the market during a period. Both terms control the marketer should take a keen look on both since they can influence the forces in the market. A point of equilibrium if formed and if any interferes with a shift occurs. From the graph above where both curves meet is the point of balance. The surge in supply results in a reduction in demand. The point where they affect the marketer is by controlling the price of a commodity. Literature review Supply and demand are the strength of the economy experienced in the market. If a product is required more in the market means that the consumers buy at that particular time (Rios, M. et al. 2013). Demand is influenced by the following: the price of the commodity that is either complementary or substitute, the income level of the consumers, taste, and preferences among others. If the demand of substance is high and the supply starts to shrink automatic price increases. Supply still can affect the price of the commodity, but that depends on the rate of demand. Two concepts are independent to one another, and they keep changing depending on the season and the consumer's taste. Business needs to understand the cycle to avoid experiencing losses. Implication to Australia market Analysing both terms the marketer can know the best time to allocate resources in the market. Another factor is business should consider the price of complementary and substitute products to the one producing. If the value of the commodity is higher users shifts to replace. If the price of complementary rises consumers avoids buying resulting in low demand. For instance, if the price of petrol rises demand for cars goes down since both depends on one another. The marketer needs to understand such forces and therefore known method of mitigating them. Using the law of demand and supply the marketer can understand the forces in the market and how to react. Blog image: http://www.investopedia.com/university/economics/economics3.asp The above helps the marketer in Australia to understand the market and also know how to time supply of goods. References Rios, M. C., McConnell, C. R., & Brue, S. L. (2013). Economics: Principles, problems, and policies. McGraw-Hill. Heckmann, I., Comes, T., & Nickel, S. (2015). A critical review of supply chain risk–Definition, measure, and modelling. Omega, 52, 119-132. Demographics Blog Image: https://www.google.com/search?q=demographics+definition&safe=off&source=lnms&tbm=isch&sa=X&ved=0ahUKEwiL3ZXY6ojUAhWBKiwKHUHyCYIQ_AUICygC&biw=1366&bih=662#imgrc=UUrS3p-jJXc4QM: Blog image: ttps://www.google.com/search?q=income+of+people+in+Australia&safe=off&source=lnms&tbm=isch&sa=X&ved=0ahUKEwj1ttbH64jUAhVB2SwKHarDAP4Q_AUICygC&biw=652&bih=525#imgrc=b3kT9LtqSyONxM: Introduction Demographics is the representation of the population mostly used by media and other devices to classify the audience in a particular region. Classification is done regarding gender, race, age and other categories that are of interest (Duggan, M. & Brenner, J. 2013). In a community used to show population density of a particular region compared to another. Another is by demonstrating if there is a population increase or a decrease in certain areas and also predict the areas that are growing. The term helps the market by knowing the region to target. Literature review The term demographic computes and analyses the statistical explanation related to human population. It is used by political parties, a manufacturer of products to consumers and government agencies. The polls conducted are based on unimaginable topic or preference with the aim of giving the government and nongovernment agencies what the general public wants. For instance, the preferable toothpaste that the consumers would like to recommend and other things. Companies conduct census so as to a certain the between the products in the market which is mostly favoured by consumers. Today census is held in televisions where a challenge is posed, and viewers responded and after a period percentage of how the response announced. Characteristics of consumers such are shopping habits, some children in a family and marital status are understood. Therefore it is easy to plan on how to approach the market. Implication to Australia market Helps the business to develop a plan of how to conduct sales across various parts across the country be understanding the region. It is achieved by understanding the level of income and mean population. Therefore business owners set a target of the supply to those areas. The concept helps both large and small business owners to come up with a strategy on how to locate a business, do advertisement and packing of the goods produced (Lee, J. & Hwang, J. 2011). Demographic helps marketer be able to target a particular group by comparing characteristics and incorporating a product appealing to certain age group. Mistakes that have been while planning gets avoided since the population target is known. It is also used in identifying the region making biggest sales and reinforcing take complete control. References Duggan, M., & Brenner, J. (2013). The demographics of social media users, 2012 (Vol. 14). Washington, DC: Pew Research Center's the Internet & American Life Project. Lee, J. H., & Hwang, J. (2011). Luxury marketing: The influences of psychological and demographic characteristics on attitudes toward luxury restaurants. International Journal of Hospitality Management, 30(3), 658-669. References Albadi, M. H., & El-Saadany, E. F. (2008). A summary of demand response in electricity markets. Electric power systems research, 78(11), 1989-1996. Blair, J., & Level, A. V. (2008). Creating and evaluating a subject-based blog: planning, implementation, and assessment. Reference Services Review, 36(2), 156-166. Hall, H., & Davison, B. (2007). Social software as support in hybrid learning environments: The value of the blog as a tool for reflective learning and peer support. Library & information science research, 29(2), 163-187. Hsiao, K. L., Lu, H. P., & Lan, W. C. (2013). The influence of the components of storytelling blogs on readers’ travel intentions. 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