Marketing is a management process that involves identifying, anticipating and satisfying customers for a profit. Marketing is a key essential for the success of any business. On the other hand, social marketing refers to the advertisement of company products and services on social media. The recent evolution in social marketing has been brought about by rapid increase and growth in social media as a marketing tool. The main objective of most companies to advertise on social media is to reach out to consumers on these social networks. Unsafe or safe products are usually classified according to the needs of consumers. Some consumers may consider a certain product unsafe while another may consider the same product fit for human consumption according to how he perceives the product.
Product pricing refers to the amount of money a company intends to charge for a particular product to its consumers. It may depend on how the company intends to cover its costs and profits, the market demand, competitor pricing and the profit objectives. Big box businesses are usually retail stores which occupy large amount of physical space offering a wide variety of products to customers. Such businesses achieve economies of scale through increasing there volume of sale and expanding their retail outlets.On the other hand, false labeling involves labeling of products to have a similar or near similar names.This act is illegal in most part of the world and can affect the consumer’s decision making process. Retail businesses are established to act as a link between the manufacturers of the products and the final consumer of such products. They provide a one stop shop for different products where the consumers are at liberty to select which products suits their needs.
How to measure the usefulness of the Social Media
Usefulness of social media to marketing of a company can be measures using various ways. Firstly, the number of people who join the company’s social media page or wall will be critical in determining how much consumers are attracted to the brand. Secondly, the numbers of members in the company’s social media page who are influenced by the company’s adverts and make an enquiry about the products or service that are on offer. Another crucial thing is the number of customers who after the enquiry will make an order of the product or service, therefore increasing the company’s profit. Lastly, how an individual customer in the social media will influence other followers positively for the benefit of company’s product is also a key factor in determining the usefulness of the social media (Bodnar, 2012).
Different products maybe deemed safe or unsafe depending on the consumers of such particular products, government policies, religion and statutory restrictions. A classical example is the current debate which is in the House of Lords concerning what is commonly referred to as miraa. The crop has been perceived diferently in different parts of the world.For instance,in Africa and some other parts of the world,the crop is higly regarded by the community and is perceived to be healthier because of its stimulus effect. A classical example is Kenya where the crop is grown commercially. In USA and the United Kingdom, the same crop has been declared as being illegal.This is through the Misuse of Drugs Act 1971 amendment order no 2.
There is no clear scientific evidence to prove that Miraa is unsafe. It is, therefore important for both parties to make decisions based on realistic findings. This also may affect other lines of products which are in the market. A lot of special care must be taken when determining whether a certain product is safe or unsafe. This may help to avoid huge losses incurred by the manufacturers in the process of production.
Most of the businesses operate with the main objective of maximizing profit at a lower cost. Therefore, it is important to price the product well to cover all operation, fixed expenses as well as a profit margin. A research on Your Office- Denver Company shows few steps or considerations that are used to price its products. The pricing method for office space is based on different factors. For example, they charge $780 for a 120 square foot office. This is brought by different factors as outlined in the link below.
Major retailers of the world
Retailers simply act as a link point between manufacturers and consumers of their products. Wall-mart is one of the world leading retailers in the world. Its headquarters are located at Bentonville, Ark in United States. It has annual sales of over $328,704,000,000 and it has 4,750 stores.The retail shop is acredited of having one og the best marketing strategies in the worl. On the other hand, Kroger is located at Cincinnati in United States. It has annual sales of over $92,165,000,000 and it has 3,538 stores. Target retail centre is located at Minneapolis in United States. It has annual sales of over$71,042,000,000 and it has 1,778 stores. Likewise, Costco retail is located at Issaquah, Washington. It has annual sales of over $71,760,000,000 and it has 435 stores. Lastly.the home depot is located at Atlanta in United States. It has annual sales of $62,022,000,000 and it has 1965 stores.
Viral marketing is an important aspect of marketing which focuses on the law of multiplication. It uses pre existing social network platfom to increase brand awareness or at the same time try to achieve other market objectives. In this case, a single person may be given a sample of product and be encouraged to spread to other potential customer through social media networking.Usually chances of increasing the sale of such products are increased given that more people are able to view it. In most cases, the hotmail issues free emails to its clients. Various messages may be attached to this email so that when the person sends the email, the message is sent too hence spread it too.
Current trends in Social media marketing
The two common trends in the social media are through use of photos and videos. For instance, marketers can post photos and picture of certain products, events, and places in social media platform to attract potential clients (Davis, 2010). Through such techniques, marketers utilize such opportunities to market their products or services.This method is very convinient for business organizations that could like to cut short the cost of hirely expensive showrooms and other exhibition centres across the country.likewise, social media platform can easily reach out to wide areas hence attracting a large number of client base.
- Your Office. (2008, June 11). Retrieved May 20, 2014, from Your office: http://yourofficedenver.com/executivesuites/?gclid=CLuWwI7bkr4CFTMetAodUywAHQ
- Bodnar, K., & Cohen, J. L. (2012). The B2B social media book: Become a marketing superstar by generating leads with blogging, Linkedln, Twitter, Facebook, e-mail, and more. Hoboken, N.J: Wiley.
- Davis, L. M. (2010). Social Media Marketing: An Hour a Day. Technical Communication, 57(1), 110.