2. Mission Statements
This statement should address why they are in
business. Successful companies have a strong sense
of purpose, a visceral understanding of why they're
in business.
9. Conclusion – Risk to Social Media Marketing
•Facebook and the dangers of data trafficking:
spreading personal information.
•Reputation damage: public content can be seen by
everyone – including your boss.
However the GAINS can outweigh the RISK!
Facebook is the 3 largest platform in the United States
Many social media platforms allows business to connect with clients versus websites
A key building block of any marketing program are the 4 P’s also known as the marketing mix
Product is a good, service or idea that satisfies a consumers need or want.
Price is something of value that is exchanged for the product.
Place, or distribution, is means of getting the product to the consumer.
Promotion is a communication between the buyer and seller.
4E Framework - excite customers with relevant offers; educate them about the offering; help them experience products, whether directly or indirectly; and give them an opportunity to engage.
Conscious marketing involves a sense of purpose for the firm that is more than simply making a profit by selling products and services. It consists of four main principles: a greater purpose, consideration of stakeholders, conscious leadership and culture, and ethics.
Stakeholders: (1) Employees (2) Customers (3) Marketplace (4) Society and (5) Environment
Protectionism is a philosophy used by many countries to safeguard key industries in their economy from foreign competition.
A tariff is a tax a country will charge for certain goods and services imported to their country.
Quotas are limits on the quantity of product allowed to be imported to that country.
World Trade Organization was formed in 1995 to help reduce trade barriers and address other global trade issues
In 1994, the North American Free Trade Agreement, often referred to as NAFTA, was established between the United States, Canada and Mexico.
Exporting is when a firm produces goods in one country for sale in another country.
Licensing is agrees to allow another organization to use their trademark, patent, trade secret or something similar value in return for a fee or royalty.
Joint Venture is where two companies join together to share in the ownership and control.
Direct investment has the highest potential for profits, it also requires the highest financial commitment and is the riskiest option.
There can possibly be very little expense to Social Media Marketing – depending on the size audition or reach you are trying to gain. Many different social media address available allowing us to link with.
