28 Nov Marketing Plan Analysis and Presentation:Place and Advertising Promotion Assessment Description The purpose of this assignment is to conduct research related to how a specific company utilizes information related to place and promotion to create marketing plans that will meet business needs including their specified marketing objectives, to assess and make recommendations about the marketing strategies that have been employed based upon the consumer and market research, and to communicate these findings to organizational stakeholders. Review: Review the following topic resources.? Topic 6: ‘Types of Distribution Channels’ https://www.youtube.com/playlist?list=PLg_v7K-G8mejSbfHsYZhdkxMsNjW5T
TOPIC: Marketing Plan Analysis and Presentation: Part 3 – Place and Advertising Promotion
Assessment Description
The purpose of this assignment is to conduct research related to how a specific company utilizes information related to place and promotion to create marketing plans that will meet business needs including their specified marketing objectives, to assess and make recommendations about the marketing strategies that have been employed based upon the consumer and market research, and to communicate these findings to organizational stakeholders.
Review:
Review the following topic resources.
Topic 6: "Types of Distribution Channels" https://www.youtube.com/playlist?list=PLg_v7K-G8mejSbfHsYZhdkxMsNjW5T844
Topic 7: "Advertising, Sales Promotion, and Public Relations" and "Planning a Promotional Campaign" https://www.youtube.com/playlist?list=PLg_v7K-G8megH77NldaD65didePpghOvd
Part 1:
Continuing in the role of a marketing professional who has been tasked with completing a marketing plan for a client, refer back to the research you completed in the Topic 2 Part 1: Research and the Topic 5 Part 2: Product or Service and Price assignments. Conduct additional research related to place and promotion and use it to complete the "Marketing Plan Analysis and Presentation: Part 3 – Research Template."
Part 2:
Add to the PowerPoint presentation you created in the Topic 5 assignment by creating five to eight additional slides that summarize your marketing plan analysis based on the research you have conducted about place and promotion. Slides should address each of the key areas listed below and should include speaker notes that explain how the company could have used what it learned about consumer behavior, product or service, and pricing to help it develop a marketing plan in order to meet the company's marketing objectives and business needs. When creating the presentation, provide links to specific YouTube and social media site examples that illustrate the current company messaging and promotional techniques. The final presentation should provide a comprehensive look at how the brand promotes their products to customers.
Based upon what you learned from your research and strategy assessment, recommend a strategy the company could employ to increase profits and sales to the target market. Include two or three final slides that summarize and justify your strategy recommendation. For the presentation of your PowerPoint, use Loom to create a video. Include an additional slide for the Loom link at the beginning of the presentation, and an additional slide for references at the end of the presentation.
Place:
1. Describe distribution channels (direct, manufacturer to consumer, indirect, wholesalers/retailers, multichannels).
2. Discuss possible channel conflicts.
Promotion:
1. What forms of advertising and promotion does the company use?
2. What forms of media does the company use? Describe the media mix.
3. Illustrate the messages the company currently uses.
Strategy Recommendation:
1. Based upon your research findings for the marketing mix, recommend a strategy that you believe will increase profits and sales to the target market.
2. Cite your specific research findings to justify your strategy assessment and recommendations.
Part 3:
Part of being a successful marketer is being able to develop marketing strategies based on consumer and market research and then communicate those ideas to stakeholders. Imagine that you have been asked to present your research findings and recommendation to your peers. Practice presenting the PowerPoint presentation you have created. Using Loom, record yourself giving the presentation. There is a 10-minute time limit for sharing your presentation. Your Loom presentation will be graded on the following elements.
1. Professional physical appearance, including business casual attire.
2. Eye contract with audience (not reading slides or speaker notes) and clear articulation.
3. Evidence of practice (not reading slides or speaker notes, but using them as a guide to explain presentation content).
4. Adherence to 10-minute time limit.
General Requirements:
Refer to the resource, "Creating Effective PowerPoint Presentations," located in the Student Success Center, for additional guidance on completing this assignment in the appropriate style.
Refer to the resource, "Loom," located in the Student Success Center, for additional guidance on recording your presentation.
Submit the "Marketing Plan Analysis and Presentation: Part 3 – Research Template" and the PowerPoint presentation that includes speaker notes and an introductory slide that includes a link to your Loom video.
Marketing Plan Analysis and Presentation: Part 3 – Research Template
Directions: Using the company and research sources from the Topic 2 and Topic 5 assignments as a starting point, conduct additional research to acquire information related to place and promotion associated with the company you selected. In the “Strategy Recommendation” section, recommend a strategy that you believe will increase profits and sales to the target market. Cite your specific research findings to justify your strategy assessment and recommendations.
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Information to be Researched |
Research Findings |
Resource Citation Information |
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Describe distribution channels (direct, manufacturer to consumer, indirect, wholesalers/retailers, multichannel). |
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Discuss possible channel conflicts. |
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What forms of advertising and promotion does the company use? What role does personal selling fulfill for the company? |
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What forms of media does the company use? Describe the media mix. |
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Illustrate the messages the company currently uses. Note: Include links to specific YouTube and social media site examples. |
Strategy Recommendation: In 250 words, recommend a strategy that you believe will increase profits and sales to the target market. Cite your specific research findings to justify your strategy assessment and recommendations.
© 2019. Grand Canyon University. All Rights Reserved.
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Marketing Plan Analysis and Presentation: Part 1– Research
Brand Story:
Meta is a cutting-edge technology company that is focused on the growth of communities, virtual realities, and thriving businesses in the future. Their new brand name reflects their dedication to bringing the metaverse to life in the not-too-distant future. The corporation once went by the name Facebook, and it is well-known for owning a number of well-known social media platforms, including Facebook and Instagram, which it continues to do so well even now. Their slogan, "Connection is evolving, so are we," is meant to convey that they are committed to fulfilling their purpose of bringing people together through a variety of channels of online communication (Meta, 2022). The corporation provides both merchandise (virtual reality gear, for example) and access to online communities in which users may collaborate with one another by exchanging information, photographs, and other forms of content. In addition, Meta is putting its efforts into the development of future technologies that will increase the level of online interactions to a whole new level. Through continuous innovation, the company continues to pursue its mission which targets to bring people together(de Oliveira Santini et al., 2020). From its website the company has made clear its commitment to diversity by ensuring that its employees reflect the diverse users of its platforms. The company has indicated on its website that its values and principles include moving fast, being bold, focus on impact, build social value and be open(Meta, 2022). The rate at which Meta is innovating is nothing short of these values as the company is moving fast toward the future of social media.
Company Vision:
“Help bring the metaverse to life.”
Company Mission:
“Bring people together.”
Company Marketing Objectives:
Raise brand awareness
Promote unity and community
Provision of helpful services while generating profits
Company Marketing Strategies and Tactics:
In order for them to achieve these marketing goals, it is necessary for them to follow through with the plans and techniques that they have devised. Meta's mission is to keep people protected and out of harm's way through increased brand awareness (Kretschmer et al., 2020). When the organization starts to get more traction, Meta's plan to secure people's information will already be in place and ready to use (Meta, 2021). The partnership with spark foundry is one of the strategies that meta is utilizing. A media management agency, Spark Foundry helps in the advertising of companies through strategic thought leadership, media innovation, and cross-channel methods. In order to contribute toward the goal of fostering togetherness. Facebook's goal of making the world a better place is aligned with the community Meta project's goals. Meta intends to continue expanding its brand by participating in community activities (Kretschmer et al., 2020). They will continue to focus on growing the community in four key areas: philanthropic giving and response, crisis response, health and wellness, and mentorship. Giving to charity using meta enables users to contribute financial support, with one hundred percent of the proceeds going to a deserving organization. Crisis response through meta provides safety checks in which users may either provide or accept help from other users. Donations to the blood supply and efforts to prevent suicide are Health via Meta's primary areas of focus. In conclusion, Meta's mentoring program offers support that you may approach for help. Each of these four ideas is a significant component that contributes to the way Meta functions to bring communities together.
SWOT Analysis:
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Strengths · Visionary leadership (Dobrovic & Furjan, 2020) · Strong brand · Global presence |
Weaknesses · User privacy issues · Curtailing fake news on its platforms (Dobrovic & Furjan, 2020) · Negative publicity |
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Opportunities · Expansion of current platforms · New acquisitions (Dobrovic & Furjan, 2020) · Diversify more revenue sources |
Threats · Increasing regulations (Dobrovic & Furjan, 2020) · Competitors · Cyber attacks |
Citation of Sources:
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Name of Source |
Citation Information |
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(de Oliveira Santini et al., 2020) |
de Oliveira Santini, F., Ladeira, W. J., Pinto, D. C., Herter, M. M., Sampaio, C. H., & Babin, B. J. (2020). Customer engagement in social media: a framework and meta-analysis. Journal of the Academy of Marketing Science, 48(6), 1211–1228. https://doi.org/10.1007/s11747-020-00731-5 |
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(Dobrovic & Furjan, 2020) |
D Dobrovic, Z., & Furjan, M. T. (2020). SWOT Analysis in the Strategic Planning Process – Meta-modelling Approach. 2020 IEEE 10th International Conference on Intelligent Systems (IS). https://doi.org/10.1109/is48319.2020.9199983 |
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(Kretschmer et al., 2020) |
Kretschmer, T., Leiponen, A., Schilling, M., & Vasudeva, G. (2020). Platform ecosystems as meta‐organizations: Implications for platform strategies. Strategic Management Journal. https://doi.org/10.1002/smj.3250 |
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(Meta, 2021) |
Me Meta. (2021). 2021 Annual Report and Form 10K. In Meta. https://www.annualreports.com/HostedData/AnnualReports/PDF/NASDAQ_FB_2021.pdf |
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(Meta, 2022) |
Meta. (2022). Meta | Overview, Mission, Vision, Values, Principles. Workat.tech. https://workat.tech/company/meta |
© 2019. Grand Canyon University. All Rights Reserved.
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BENCHMARK – MARKETING PLAN ANALYSIS AND PRESENTATION: PART 2 – PRODUCT OR SERVICE AND PRICE
Name
Institution
Date
Company background
Hello everyone and welcome to today's presentation. The company in focus is Meta or previously known as Facebook.
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Company name
Meta
Company background cont…
The vision of the company is to help bring the metaverse to life while the mission is to bring people together.
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Vision
“Help bring the metaverse to life.”
Mission
“Bring people together.” (Meta, 2022)
Company background cont…
The marketing objectives of the company include;
Raise brand awareness
Promote unity and community
Provision of helpful services while generating profits
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Marketing objectives
Raise brand awareness
Promote unity and community
Provision of helpful services while generating profits (Meta, 2022)
Consumer behavior
The activities that make up segmentation, targeting, and positioning at Facebook, Inc. are geared toward determining which subsets of the population have the most potential to become clients (site users), and then designing goods and services to cater to the requirements and preferences of those clients.
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Customer segments
Geographic
Demographic
Psychographic
Behavioral (Machado et al., 2019)
Target market
By region
International
By age
13 and above
By gender
Male and females
By class
Lower to upper class
By behavior
Loyal
Recreation
Fist timers
Regular users
Non users
Target market characteristics that affect product and pricing decisions
Target market characteristics that affect product and pricing decisions include location, age, gender., social class and occupation. For example some of services available on the platform only available in some locations while they lack in others. Some products and services on the platform are launched targeting specific age groups and genders. Different services on the platform are also sold to different social classes especially when it comes to metaverse.
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Location
Age
Gender
Social class (Machado et al., 2019)
Occupation
Students
Professionals
Employees
Product differentiation and positioning
Facebook uses a differentiated targeting strategy to ensure that it provides algorithmically individualized advertising messages meant for the specific person based on the way that he or she operates their accounts. The initial objective of Facebook was to facilitate communication amongst individuals attending Harvard. Students have the ability to notify one another about the occurrences on campus, including information about classes, parties, study materials, and other important things. A number of students organized themselves into study groups for their classes. A few students made use of the website in order to schedule club meetings. A student was also able to host status posts about themselves on Facebook, which allowed their friends to keep track of them and see what they were up to. On the other hand, as more people signed up for the website, the value proposition started to change.
The term "positioning" refers to the process of selecting those elements of the marketing mix that are best suited for the specific category of potential customers being targeted. Facebook employs a positioning strategy known as multi-segment positioning, and as a result, the company targets numerous client categories simultaneously across a variety of social media channels. For instance, the social media website Facebook caters to those who are interested in a wide variety of social media services, such as pages, news feed events, and so on, but the consumer segment that Instagram caters to is focused solely on photo sharing. In addition, Facebook Inc. implements an adaptive positioning strategy across all of its brands. This strategy involves repositioning products and services in response to shifts in the preferences of the target consumer category.
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Product differentiation
Algorithmically individualized advertisements
Communication tool (Machado et al., 2019)
Self and social identity
Positioning
Multi-segment positioning
Adaptive positioning
Consumer buying behavior
In the first step of the process, the buyer acknowledges that there is a requirement for a certain good or service. The buyer will begin their information search once they have determined that they have a need for a particular product or service. It's possible that they got it from a variety of places (friends, commercials, mass media). When the buyer has obtained all of the pertinent information, they will then begin to analyze their available options. They might evaluate the most important features and costs of each instrument, opting for the one that offers the most benefits compared to the others. Following the completion of the evaluation, the buyer will make a purchasing choice. For instance, customers begin their free trial or acquire a premium plan to continue using the service. After making the purchase, the customer will determine whether or not the product or service has lived up to their anticipations. At this point, the customer might also share their comments with subscribers, colleagues, or friends by writing an online review about the purchase or sharing it on social media.
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Model
Buyer behavior model
Product mix
Product mix of the company include;
Social networking website
Online advertising
Mobile apps
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Social networking website
Online advertising (Meta, 2022)
Mobile apps
Product lines
Messenger (Meta, 2022)
Product lines include;
Messenger
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Service processes
When seeking the social networking and messaging the service process is pretty much direct. All the apps are available to download freely and registration. Once registered an individual can start connecting with friends and enjoying g different services on the platform. When it comes to online advertising one has to first create an account, set up an ads manager, objectives and set campaign budget, ad creation and finally order placement.
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Social networking and messaging
Visit websites
Download mobile apps from play store and iOS
Connect and communicate with friends
Online advertising
Account creation
Set up ads manager
Set objectives
Set campaign budget
Target audience customization
Selecting platforms for ad placement
Ad creation
Order placement
(Meta, 2022)
Physical evidence of service, service scape, and ambiance
The platform ensures physical evidence of service, good service scape and ambiance for all services offered. For example when using the platform for messaging and communication meta sends you message notifications that can serve as evidence of service. One is also able to receive messages view if the messages sent have been delivered or read. When seeking online advertising services one create a successful ad campaign and launch it on the platform one is sent a confirmation email indicating that the ad live. The platform also allows customers to track the ad via conversion tracking where individuals can observe different metrics such as number views, likes comments and shares.
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Messaging and communication
Message notifications
Online advertising
Confirmation email
Meta sends confirmation email once ad is live (Meta, 2022)
Conversion tracking
Roles of company employees in service delivery
Customer service (Hur et al., 2018)
Branding
Marketing
Employees are the organization in the eyes of the customer. Employees play a crucial role in ensuring meat continues to be available all the time without crushing or experiencing downtime. Employees also play a crucial role in engaging customers through customer service support and addressing all concerns of customers.
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Pricing objectives
The pricing objective is to set price that works for everyone. The pricing approach targets to generate profit for Meta
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Objective
To set price that works for everyone (Meta, 2022)
The pricing approach targets to generate profit for Meta
Pricing strategies
Facebook Inc. utilizes the prices of its rivals as a foundation for determining the rates of its display advertising services as part of its implementation of the market-oriented pricing strategy. These charges are often billed per impression or per click, in addition to other user-generated actions on the social networking website and mobile applications owned and operated by the corporation. When employing the pay-what-you-want pricing method, on the other hand, Facebook Inc. gives advertisers the ability to determine the amount that they will spend above and above a predetermined baseline price. Advertisers are drawn to the company's online display advertising business due, in part, to the flexibility in pricing that it offers. This component of the marketing mix is one of the reasons for this.
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Pay-what-you-want pricing
Market-oriented pricing (Meta, 2022)
Pricing tactics
Some of the pricing tactics used by Meta include;
Discount-A discount pricing strategy is one where a business offers a product at a lower price than it would normally be sold for tactics a specific period of time. It entails lowering the pricing of items and providing a variety of different types of discounts, with the ultimate objective of raising the number of sales. Meta achieves this via offer ads, Facebook ad credit and Facebook ad coupon.
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Tactics
Discount
Offer ads
Facebook ad credit
Facebook ad coupon
References
Dudovskiy, J. (2017, January 10). Facebook Inc. Segmentation, Targeting and Positioning: Targeting the Widest Customer Segment. Research-Methodology. https://research-methodology.net/facebook-inc-segmentation-targeting-positioning-targeting-the-widest-customer-segment/
Hur, W.-M., Kim, H., & Kim, H. K. (2018). Does customer engagement in corporate social responsibility initiatives lead to customer citizenship behaviour? The mediating roles of customer-company identification and affective commitment. Corporate Social Responsibility and Environmental Management, 25(6), 1258–1269. https://doi.org/10.1002/csr.1636
Machado, J. C., Vacas-de-Carvalho, L., Azar, S. L., André, A. R., & dos Santos, B. P. (2019). Brand gender and consumer-based brand equity on Facebook: The mediating role of consumer-brand engagement and brand love. Journal of Business Research, 96, 376–385. https://doi.org/10.1016/j.jbusres.2018.07.016
Meta. (2021). How Much Do Facebook Ads Cost? Facebook Business. https://www.facebook.com/business/ads/pricing
Meta. (2022). About offer ads. Meta Business Help Center. https://www.facebook.com/business/help/374943579189527
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