Discuss about the Management Communication for Traditional Marketing Tools.
In the modern era, the rise of internet technology has provided companies with a more potential platform to carry out marketing and promotion of their products and services. Nowadays, many businesses have replaced their traditional marketing tools with the modern tools of marketing (Vinerean, Cetina, Dumitrescu, & Tichindelean, 2013). The key benefit associated with the use of online marketing techniques is that companies can cost-effectively reach the broad audience.
The present study is based on Company X which is a small-medium enterprise operating in the Food and beverage industry of Singapore. The business is carrying out its operations from the past 50 years, and at present, it has employed more than 100. This report outlines the existing communication strategy which has been adopted by Company X. Apart from this, challenges and benefits linked to social media marketing are also mentioned in this report.
Company X is operating in the food and beverage industry of Singapore, and at present, the industry is highly competitive. The selected business enterprise is facing intense competition from other market players, and thus, it is no longer easy for Company X to attract new customers and retain the old ones. Now, the company is facing issues regarding increasing sales, profitability and the reason behind this can be termed as its existing communication strategy. It can be expressed that Company X is using traditional tools of marketing communication and these tools have created obstacles in achieving long-term growth.
For example, the brand invests heavily on broadcast and print media for carrying out promotion of its products and services. The company believes that the selected tools of marketing communication are useful because these tools support in creating awareness of goods and services among people in the market. However, it can be critically argued that nowadays, broadcast and print media cannot be termed as adequate as they are quite expensive as compared to modern marketing tools (Strauss, 2016).
The traditional tools and techniques of marketing are also considered as highly successful and proven. On the other side of this, it can be argued that advertisement on broadcast and print media cannot be regarded as result oriented in the modern era. The rationale behind this is that sometimes ads results in creating confusion among buyers as a distorted version of products reality is displayed in the same (Tuten & Solomon, 2014). In addition to this, the flow of information is one way, and the opportunities for generating feedback is also very less in the traditional communication tools. Limited space and time can be considered as other drawbacks associated with the use of traditional form of communication.
It can be expressed that replacing traditional tools and employing online marketing tools such as social media is not going to be an easy task for Company X. The rationale behind this is that the company will be required to deal with different types of issues and challenges during the same. The main problem which has been faced by companies during the implementation of social media marketing can be termed as literacy or knowledge (Scott, 2015).
The selected business enterprise is making use of traditional marketing techniques form past 30 years, and it will not be easy for the brand to replace the same. To employ social media marketing, adequate skill set and knowledge in the field of digital marketing is a must (Leeflang, Verhoef, Dahlström, & Freundt, 2014). Thus, Company X will be required to hire competent personnel’s who are skilled in carrying out digital marketing of products and services.
Company X will also face different types of issues regarding maintaining its brand reputation in the marketplace (Ashley & Tuten, 2015). The negative comments and reviews of the consumer over social media can adversely affect the overall brand image of the company. Businesses are required to develop effective strategies to deal with negative comments and reviews generated on online platforms.
In the modern era, the success of social media marketing is influenced by the uniqueness and overall quality of content. Unique and quality content helps in gathering the attention of people, and it also supports in influencing their buying behaviour (Kumar, Bhaskaran, Mirchandani, & Shah, 2013). However, it can be critically argued that for Company X, development of content will not be an easy task as the business will be doing this for the first time in the history of thirty years.
Another challenge of employing social media marketing as a replacement for traditional marketing tool is that the company will be required to provide training and development programs (Chang, Yu, & Lu, 2015). These programs are essential because they will help staff members of Company X to gain knowledge about the way in which social media marketing can be carried out. The result of this is that overall cost of operations and stress level of staff members will increase to a great extent (Kaur, 2016). Monitoring and management of customer engagement on social media channels are other challenges which Company X will face while replacing the traditional marketing techniques with the new ones.
The main and most important benefit which is associated with the use of social media and other online platform is that it provides organizations with access to a large target market. Businesses can even reach international markets and customers by employing social media and other online platforms (Coombs, 2014). The use of mentioned above platforms will help Company X to improve its brand image, customer base along with the volume of sales and profits. However, it can be critically argued that to develop and maintain its online presence, the selected business enterprise will be required to invest additional resources.
The benefit of using social media and other related platforms for marketing is that it results in reducing the overall cost of marketing. For example, companies are not required to pay for posting advertisement and information on these channels (Grunig, 2013). Increase in customer engagement is another potential benefit which is associated with the use of social media and online marketing channels (Armstrong, Kotler, Harker, & Brennan, 2015). The rationale behind this is that the mentioned above platforms can provide Company X with an opportunity to carry out two-way communication and generate instant feedback.
In addition to this, the response of people in the market regarding new products, offer and company’s overall performance can be easily evaluated with the use of social media and online channels of marketing (Cornelissen & Cornelissen, 2017). On the contrary of this, it can be critically argued that social media do not produce desired outcomes if companies are not maintaining their social presence effectively (Dinner, Van Heerde, & Neslin, 2014). Company X may also expose to several risks linked with information leakage, negative feedback, and hacking while carrying out the use of social media as a tool for marketing. However, the use of online platforms will directly reduce the company’s dependency on the paid form of advertisements.
A feasible online communication strategy is developed and mentioned below as:
Conclusion
In the present scenario, social media and other online channels have emerged as the most potential platforms for conducting marketing and promotion of services and products. To sustain in the long run, Company X is required to replace its traditional marketing communication strategy with a new one which focuses on social media and other related channels. It can also be inferred that the company will face some challenges in the implementation of new online communication strategy, but the strategy will offer a wide range of benefits in the long run.
References
Armstrong, G., Kotler, P., Harker, M., & Brennan, R. (2015). Marketing: an introduction. Indiana: Pearson Education.
Ashley, C., & Tuten, T. (2015). Creative strategies in social media marketing: An exploratory study of branded social content and consumer engagement. . Psychology & Marketing , 15-27.
Chang, Y. T., Yu, H., & Lu, H. P. (2015). Persuasive messages, popularity cohesion, and message diffusion in social media marketing. Journal of Business Research , 777-782.
Coombs, W. T. (2014). Ongoing crisis communication: Planning, managing, and responding. California: Sage Publications.
Cornelissen, J., & Cornelissen, J. P. (2017). Corporate communication: A guide to theory and practice. California: Sage.
Dinner, I. M., Van Heerde, H. J., & Neslin, S. A. (2014). Driving online and offline sales: The cross-channel effects of traditional, online display, and paid search advertising. . Journal of Marketing Research , 527-545.
Grunig, J. E. (2013). Excellence in public relations and communication management. Abingdon-on-Thames: Routledge.
Kaur, G. (2016). Asian Journal of Multidisciplinary Studies. Social Media Marketing , 14-22.
Kumar, V., Bhaskaran, V., Mirchandani, R., & Shah, M. (2013). Practice prize winner—creating a measurable social media marketing strategy: increasing the value and ROI of intangibles and tangibles for hokey pokey. . Marketing Science , 194-212.
Leeflang, P. S., Verhoef, P. C., Dahlström, P., & Freundt, T. (2014). Challenges and solutions for marketing in a digital era. European management journal , 1-12.
Scott, D. M. (2015). The new rules of marketing and PR: How to use social media, online video, mobile applications, blogs, news releases, and viral marketing to reach buyers directly. . New Jersey: John Wiley & Sons.
Strauss, J. (2016). E-marketing. Abingdon-on-Thames: Routledge.
Tuten, T. L., & Solomon, M. R. (2014). Social media marketing. . California: Sage.
Vinerean, S., Cetina, I., Dumitrescu, L., & Tichindelean, M. (2013). The effects of social media marketing on online consumer behavior. International Journal of Business and Management , 66.
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