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Recent studies on social media SMALL BUSINESS
Thesis paper on How Small and Medium Sized Companies use Social Media to Reach Their Marketing Objectives
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Revised Marketing Plan for Deborah Ann’s Sweet Shoppe
Summary of Original Plan
Deborah Ann’s Sweet Shoppe is a small chocolatier on Main Street in Ridgefield, Connecticut. They sell chocolate, candy, ice cream, and other sweet items. Because of their luxury packaging and premium ingredients, much of their current business is for gift purposes. However, people also love coming in to buy treats for themselves. The store is designed in a nostalgic manner, which appeals to the consumer’s psychological influence. Seeing an old-fashioned candy shop reminds people of a simpler time, and makes them want to make a purchase to feel like they are a part of that time. My original marketing plan for Deborah Ann’s focused on development of new products
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I focused on in-store sales and specials, as well as promotions with other local businesses, all communicated through social media. I also proposed a strategic partnership with Lounsbury House that would be beneficial to both involved parties.
Methodology of Creating Posts
My goal was to design social media posts that would be conscious of the buying behavior of consumers. Problem recognition was key here. In this case, the problem I wanted to create was a want of sweets. By using pictures of delicious looking ice cream, cookies, and candies on Instagram, I gave the consumer an idea of where they could acquire such foods, thus creating and solving that problem. I then acknowledged that consumers would likely search for and evaluate alternative options. To keep customers at Deborah Ann’s, I created in-store sales on both Twitter and Instagram that would make them feel like they were getting a
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He thought that the strategic partnership with Lounsbury House was a great idea. He even expanded the idea by proposing a bonafide catering arm of his shop. He loved the social media guidance I gave him and is currently vetting his staff to find someone who can run an Instagram account. He also liked my idea of giving 25% of sales to injured veterans.
Conclusion
In conclusion, the focus of my marketing plan evolved from new products to engagement of the target market through social media. While they currently have a Facebook account, it is seldom used, and it is their only online presence apart from their website. I recommended that they expand to Twitter and Instagram to optimize their online interactions with customers. I also proposed a strategic partnership with Lounsbury House, a local wedding venue. Finally, I advised Deborah Ann’s to consider a partnership with local businesses like Books on the Common to expand their customer base and their community
There are four distribution channels for Claire`s Chocolates: (i) in the cafes; (ii) in the five-star hotel`s restaurant; (iii) in the hotel`s gift shop; and, (iv) in gift shops in a number of tourist areas in
Social media is a key tool that has changed both our everyday lives and the way we do business. In the modern world, almost everyone who has a smart phone – and most of those who have computers - also hold accounts on a social media company. Currently, In N Out Burger and Shake Shack, two of America’s most buzz-worthy restaurants, are exhibiting great success at using the social media world to promote their businesses. Both companies have established a presence on many of the most popular social media outlets, including Facebook, Twitter, and Instagram. Each of these burger-focused restaurants, however, has demonstrated a very different approach to their social media.
James Cash Penney, founder of JCPenney stores, gained his retail experience working for Golden Rule Mercantile Company, after graduating from high school in 1902. He quickly rose through the ranks as a salesperson, store manager, and partner. In 1906, at the age of 26, he opened his first retail store in Kemmerer, Wyoming the first to become JCPenney store. 1913, he had 34 stores with over $2 million in sales and incorporated JCPenney Company, Inc. JCPenney’s success was due to the popular private-label brand that were good quality, lower prices than the named brands, and these products yielded high profits. In 1927, headquarters opened in New York and in 1929, the company listed on the New York Stock Exchange and store manager/owners traded in their portions of individual stores for stock in the company. JCPenney’s survives the depression, providing basic goods and services at lower prices and increased profits.
Kristy May, CEO, states that the new strategy should consist of several key components (K. May, personal communication, November 12, 2016). First, the company should continue to work very hard on strengthening its branding through frequency (Michalowicz, 2012). Second, Peg and Kris, LLC needs to strengthen its social media campaign to draw in new customers (Rosario, Sotgiu, De Valck, & Bijmolt, 2016). Third, the company could benefit from partnering with other brands, bloggers, and affiliates (Rosario, Sotgiu, De Valck, & Bijmolt, 2016). Lastly, while not directly related, research suggests that the company will see an improvement in web sales conversions with optimization of its mobile site (Oakley & Daudert,
on it. Business was good, but it took much work to keep the store running. The
Social media is at the core of many marketing plans for corporations in the United States and world-wide. One of these companies at the forefront of social media use is Wells Fargo Bank, N.A. (Wells Fargo). The ability to directly contact customers and potential customers in a real time online environment is crucial to the bank / customer conversation and reinforcing the company’s place in a customer’s mind as the entity that they want to do business with (Wells Fargo Bank, 2014). This case study will discuss the current status of Wells Fargo’s use of social media as a means to building their customer base. Additionally, historical information on the process of the marketing move to social media will be presented and the development of the roles that are involved in this marketing strategy will be discussed. The impacts to the public sphere and society at large will play into the discourse of the social media topic and finally, the underlying theories will be discussed as they pertain to Wells Fargo and social media.
He exercised the utmost professionalism during our interview, and was diligent to answer every one of my questions until I had exhausted my time. I was very fortunate to be given the opportunity to share some of his valuable time.
When the author explains his thought on planning social media marketing strategies, he refers to boxing competitions. Before the competition, boxers need to understand their own strengths and weaknesses and also understand their
More than just a sale promotion strategy Lisa and her team have built lasting relationships
Social media has a big role in our perception of brands in today’s world. The two companies have both attempted to integrate social media in their continued attempts to one up their competitor. Google has made attempts to cr...
On Instagram, a photo-based social media site, highly popular pages showcase, and therefore market, photographs of food to their followers. “If you can get through the Vogue.com holiday dessert roundup—featuring this salted caramel apple pie and more—without your mouth watering,” - states the Vogue Magazine Instagram feed, “then you 're one step ahead of us.” Although the audience is only looking at a photograph, the language used as a caption contributes to an idea that the caramel apple pie is delicious, in-demand, and a must-have. In other words, to be normal and to be able to fit in is to find the apple pie enticing. The caption leaves no space for personal preferences because it makes the public assumption that all will enjoy this apple pie. Although this particular example comes from a more traditional source, Vogue Magazine, there is a vast number of self-made “celebrities” on the Internet who have gained a mass following. Although magazines and businesses often try selling a product online, online celebrities are selling themselves online. In a constant quest for a large following and more engaged audience members, online celebrities resort to sharing posts and photos that would appeal to the largest number of audience members. They reinforce existing ideas by both sharing the ideas, and by modeling what “normal” ideas are for
All the major players of the luxury goods industry have now adopted social media marketing and are looking for new ways to engage with their fans and customers to build up brand awareness. (Albane, Luxury Brands and Social Media Marketing - Dos and Don'ts., 2017, January 26). According to Kapferer and Bastien, “Luxury is in fashion, and the fashion is for luxury” (Kapferer & Bastien, 2009) If we need any convincing about the importance of social media to luxury brands, we should look at the advantages that come through deriving real value from social media. We know this from watching the growing influence of brands like Louis Vuitton, Chanel, and Cartier on LinkedIn. To make the best use of the social media opportunity: Publicist CEO Maurice Lévy closed the event with a timely quote: “Luxury is time” (Lamielle, 2016), the time that you have free to spend in any way you choose: working, playing, reading, resting. It was a valuable reminder of the importance of brand experience to the luxury consumer (Lamielle, 2016). People don’t choose luxury brands just for the product they get or the badge they get to show
In writing the business plan, I determined our target market and our marketing strategy to gain a share of the market. I also had t...
...ence, education and publications. She has been published in Advances in Consumer Research. This article explains the use of social media in marketing strategies and describes an undergraduate study that incorporated marketing field experience into marketing, This source is useful in examining the importance of social media and marketing.
“A study of the top 100 corporations of Fortune Global 500 companies by Burson-Marsteller, a global public relations firm, revealed that 65 percent are building relationships with stakehodlers on Twitter, 54 percent manage Facebook fan pages, 50 percent use YouTube channels, and 33 percent maintain corporate blogs” (Guffey & Lowey, 2015). It isn’t the customer that needs to learn new ways of communicating but the business. When a customer feels important and interaction is occurring, it will help the business. When the business knows how and when to use social media, and how to reach the target market, they will gain opportunities they never knew existed. Lastly, when the business uses social media to promote their specials, everyone wins. The customers win because they are getting a good deal, they are shopping with their favorite stores and they can share the posting with others. The business wins because it is free marketing and they will earn higher profits when they are reaching millions of customers. Social media is one of the newest and greatest form of communicating