Ask Marketing Management Expert

With this statement below need a paragraph if how I feel about this article: The staff writer for CBR (Computer Business Review) supports my claim that social media is a valuable tool in a firm's marketing strategy; especially when the firm is selling a tangible good such as in retail. The article, "Social media buy buttons boost e-retail to $1.7tr", proves that social media facilitates a vital connection between a consumer and a firm which can be profitable for a firm. Social media provides a porthole for marketers into the macroenvironment that indirect influences consumers, who of course are at the center of marketing. The macroenvironment factors consists of cultural impacts, demographics, and social, technological, economic, and political factors which aid in creating the consumer's point of view. No longer, will social media just be limited to the 4E framework but could increase a company's profits, specifically for those that have a profit oriented objective. Since social trends seem to be increasingly influential with consumers, many online retailers are taking advantage of the opportunity social media presents to expand on a type of direct marketing channel. The "buy button" that certain social networking websites (e.g. Facebook, Twitter, Instagram and Pintrest) have implemented is a key tool for the 4th step in the consumer decision process-purchase. The buy button could also help manufacturers eliminate some of the hassle they encounter associated with other channel members as it relates to pricing or even the need to establish elaborate channel strategies and can reduce their costs potentially. The buy button should also increases the conversion rates for online retailers. Further, I imagine the buy button being a type of data warehouse thus enhancing the marketing research process. The writer cites, "e-retail sales are estimated to reach $1.7 trillion this year, up by over 17% over last year." ; a strong suggestion that social media websites are attributing to this increase. Additionally, social media also helps the consumer through steps 1-3 of the consumer decision making process (need recognition, the search for information, even evaluating alternatives. I will admit that use of the buy button could increase postpurchase dissonance but it is a risk firms must take as it could result in customer loyalty and satisfaction. There were some supplementary areas highlighted by the writer as well. Included is the need for retailers who have brick and mortar stores to establish a solid information flow in an effort to avoid conflicts and delays with delivery of goods. Another area mentioned the increased use of mobile media (i.e. smartphones) to make online purchases however, the ability to charge purchases to a consumers account would be limited due to wireless service providers wanting a share in revenues from companies. 

Marketing Management, Management Studies

  • Category:- Marketing Management
  • Reference No.:- M91356187
  • Price:- $40

Guranteed 36 Hours Delivery, In Price:- $40

Have any Question?


Related Questions in Marketing Management

Question 1 application of conceptstime value of money2

Question: 1. Application of concepts/time value of money? 2. Which is more detrimental to a firm, pricing your product or service too high, or pricing your product or service too low? 3. Discuss the role of demographics ...

Question imagine that you are in the market for a new

Question: Imagine that you are in the market for a new career. How can the marketing research process apply to your career search? Think of a specific topic you need to learn more about that relates to your career as a o ...

Question strategic marketing planintroductionthis

Question: STRATEGIC MARKETING PLAN INTRODUCTION This assignment entails development of a comprehensive strategic marketing plan for a new product or service that is ready to "go to market". A Project Template is provided ...

Qestion ready set strive gen z is comingby janet adamy

Question: Ready, Set, Strive : Gen Z Is Coming By Janet Adamy | Sep 07, 2018 TOPICS: Consumer Behavior, External Marketing Environment, Targeting SUMMARY: About 17 million members of Generation Z are now adults and start ...

Question in your marketing plan you should1establish a

Question: In your Marketing Plan, you should: 1. Establish a Mission Statement and a Vision Statement for your new organization. 2. Briefly describe basic services it has been providing during the first six months of ope ...

Question 1review the terminal course objectives accessed by

Question: 1. Review the Terminal Course Objectives, accessed by clicking on the "Course Information" tab at the top of your screen, scrolling down to the "Course Objectives" and then selecting View class objectives. How ...

Question read the worddoc first and answer those following

Question: Read the word.doc first and answer those following question 1. Provide a list of at least five pieces of information that airlines have about their customers, and for each, explain how that information might he ...

In this unit you are asked to produce a public relations

In this unit you are asked to produce a Public Relations Campaign Proposal document and an essay that explains the theory behind your planned approach to the Proposal task. You may base your assessment on the suggested s ...

Question 1200 words on your favorite retailer and their

Question: 1200 words on your favorite retailer and their major competitor as discussed in class. This should focus on the different elements that make up the retail strategy of the companies and other factors that appeal ...

Question bulltype of paper assignmentbullsubject

Question: • Type of paper Assignment • Subject Other • Number of pages 1 • Format of citation Other • Number of cited resource s0 • Type of service Writing from scratch First, choose a piece of art from any genre (music, ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As