Discuss about the Conceptualizing and Measuring Content Marketing.
As a marketing manager of BEUTI, a cosmetic company, the owner Peter told that having the right product at the right time and place is all about marketing and therefore it is important for every business to have the availability of their products. With time there was change in the technology which helped most of the organization to supply their products all the time.
Product marketing is very crucial. The company can see what products the customers are interested in and what their reviews on the product are. It is important for the organization to understand the length of sales cycle for the various products. It is important for the organization to understand the requirement of the customers and the needs of particular product. As a manager it is important to understand what the customers buy and therefore the better they will be able to sell the products to the customers (Brisoux and Chéron, 2015).
The place is a very important criterion. Different people living in different place have different requirement and needs .Therefore it is critical to understand the needs of the customers according to the place they reside. The interest and the preference changes according to the place they reside. It is important to know the preference of the customers. Different people need different people which depend on the place they reside. Thus the particular product is sold according to the demand in that place .
In today’s generation, all kinds of information are available to the consumers. People can compare the price of the similar goods and thus the market is very competitive therefore price plays a very important role in the selling of a product. Emails can be targeted, connecting leads with the kind of content that moves them closer to signing a deal. Thus when the price is set for a product it is important to set taking into mind the factors affecting their price ((Coursaris and Van Osch, 2016).).
Awareness: The buyer may know about the brand, but he might not be aware about the services the brand provides. Therefore content marketing helps in the awareness of the product and thereby makes a positive impression. It might be the fact that content marketing may pull up the crowd from the strangers grab their attention quickly, and then entice them to keep reading, watching, or listening.
Consideration: In this generation the buyers have many option and choices so more entertaining and informative and convincing the brand is, the better is the response.
Decision: The buyer has to be prepared to buy the products and they must be convinced that the product is the best. Content Marketing helps the buyers to convince and persuade them so that they can make a decision to purchase the product. If the company can read the mind of the consumers, then they set the mind of the consumers at ease.
Retention: The buyer will only make a repetitive purchase if he has a positive experience and they are provided with enough value to make them want to return.
With the changes in society and the culture, the people are driven by their feel-good philosophy; the benefit is that the brand is fully supported by their ‘benefesto’ – “laughter is the best cosmetic”. It’s has now been the backbone for the online presence of the cosmetic company. It is a strong and a very unique brand which has entered and allowed them to generate a huge and devoted customer following
The Benefit that these cosmetic company has on the benefit customers overall lifestyle and not only focus on cosmetics but also on their other associated interests as well.
Opportunities and Threats are external to the organization and it is important to understand the external environment in which the organization operates.
Opportunities:
Threats:
As the products that were being sold by BEUTI was online and they don’t have a channel or medium to distribute their product. The product that the company is planning to sale in the markets rather than selling virtually is a range of face wash known as WASH-CLR. The product comes under the category of FMCG (Fast Moving Consumer Goods). These types of product sold at a very fast pace and are being consumed by the customer very quickly.
For these kind of product range basic distribution method is followed where the product are being transferred from the company to a stockiest or super stockiest, which may vary according to the amount of sales or stock. Then the product is transferred from stockiest to the distributor and after that it is transferred from distributor to the dealer which is then transferred to the retailer who sale the product to the consumer (Harms, Bijmolt and Hoekstra, 2017).
These whole transfers of the product from the manufacturer to the end consumer happen through a number of people who are in the middle. The model which can be used in such kind of distribution is known as spoke model. According to this model the stock is maintained in the middle strategically in such a way it can be transferred all over with minimum transportation cost and other benefits.
Before trying to segment the market the first criteria is the need to understand what market segmentation is and why is it done. According to the basic theories mentioned market segmentation is the process where the consumers are being divided or being amalgamated in smaller segment which helps in understanding the market and how to target customers. This will help in calculated marketing rather than doing the trial and error method which is uncertain in nature and the success rate of this method is very little (Hepp et al,m 2014).
On the other hand the market which is being segmented helps in identifying the consumers and their need according to the buying behavior of the consumer of a segment. The consumers of the WASH-CLR are to be segmented upon their buying behavior, what kind of products the consumer are looking for and what is the price range that the consumer buys the product are some of the factors that may affect the buying behavior of the consumer. The segmentation of the customers should be done upon the need of the consumer, the interest about the product and the location of the consumer. The people of same segment are being affected in a similar manner. This similarity helps in marketing the product (Hidalgo, 2016.).
Each and every product needs brand or branding the new skin care range that Peter wants to launch which needs an umbrella of a brand. This does not mean that without branding the product will not sale but the brand will act as an identity of the product.
Market research is a very important form of marketing; it helps the manager in creating awareness about the product towards its consumer or probable consumer. The product details that may include the product range, its use, benefits served and other form of information’s are being conveyed to the probable consumer which creates awareness amongst the consumer, thereby affecting an increase in sales of the product. As according to marketing awareness is the basic criteria that are most important. The product will not sale until and unless the consumers are not aware about the product. So market research is important for BEUTI, and it is important for moving ahead (Rancati, Gordini and Capatina, 2016).
The research should include the study of product range, that is the different types of product that BEUTI has and it will also include the details of the product and the benefits that the product provides to its users.
Further research in the market, will help the manager to connect with the consumer and to know about the product and they can further enquire in the market about the product. Marketing will fulfill the basic criteria of leaving knowledge in the head of the consumer which will lead to the sale of the product. This type of marketing will help to lure the consumer to buy the product (Tu, 2014).
References
Brisoux, J.E. and Chéron, E.J., 2015. Product Involvement in Relation to Brand Categorization: The Case of Cosmetics. In Proceedings of the 1988 Academy of Marketing Science (AMS) Annual Conference (pp. 487-487). Springer, Cham.
Coursaris, C.K. and Van Osch, W., 2016, July. Disentangling the drivers of brand benefits: Evidence from social media marketing of two cosmetics companies. In Telecommunications and Multimedia (TEMU), 2016 International Conference on (pp. 1-6). IEEE.
Gulati, R. and Soni, T., 2015. Digitization: A strategic key to business. Journal of Advances in Business Management, 1(2), pp.60-67.
Harms, B., Bijmolt, T.H. and Hoekstra, J.C., 2017. Digital native advertising: practitioner perspectives and a research agenda. Journal of Interactive Advertising, pp.1-12.
Hepp, N.M., Mindak, W.R., Gasper, J.W., Thompson, C.B. and Barrows, J.N., 2014. Survey of cosmetics for arsenic, cadmium, chromium, cobalt, lead, mercury, and nickel content. J Cosmet Sci, 65, pp.125-145.
Hidalgo, D.A., 2016. Discussion: Long-Term Operative Outcomes of Preoperative Computed Tomography–Guided Virtual Surgical Planning for Osteocutaneous Free Flap Mandible Reconstruction. Plastic and reconstructive surgery, 137(2), pp.624-628.
Kamarohim, N.A., Bojei, J., Muhammad, N.S. and Othman, M., 2016. Islamic Marketing Practices in the Cosmetics and Toiletries Industries in Klang Valley, Malaysia. Pertanika Journal of Social Sciences & Humanities.
Kane, G.C., Palmer, D., Phillips, A.N., Kiron, D. and Buckley, N., 2015. Strategy, not technology, drives digital transformation. MIT Sloan Management Review and Deloitte University Press, 14.
Kosins, A.M., Scholz, T., Cetinkaya, M. and Evans, G.R., 2013. Evidence-based value of subcutaneous surgical wound drainage: the largest systematic review and meta-analysis. Plastic and reconstructive surgery, 132(2), pp.443-450.
Rancati, E., Gordini, N. and Capatina, A., 2016. Conceptualizing and Measuring Content Marketing in Luxury Firms: An Exploratory Analysis. In Global Marketing Strategies for the Promotion of Luxury Goods (pp. 109-132). IGI Global.
Tu, W.H., 2014. What contents cause people spreading word-of-mouth? The case of Facebook fan pages of Taiwanese cosmetics brands (Doctoral dissertation, Masters Thesis, National Taiwan University of Science and Technology, China).
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