- Internal Code :
- Subject Code :
- University :
- Subject Name : Marketing
Introduction to Marketing - Question 1
Imagine that Sharesies decides to specifically target younger women (under 25) with an Integrated Marketing Communications (IMC) campaign aiming to get more people in this target group to start investing through Sharesies.
- Provide an example of how Sharesies could use Advertising to reach this target market? Explain what the advantages and disadvantages will be for Sharesies if they use Advertising in the way you propose. (10 marks)
Sharesies could use television advertising campaign by specifically addressing the concerns of people of New Zealand. The major concern of the people is regarding knowledge, risk, and cost. As per the New Zealand people, only 35% of their investment work whereas 62% are risky (Patsiaouras, 2019). Therefore, the advertising will focus on providing a non-risky option and better-guaranteed money returned to reach out to the main reason, and the main target market in New Zealand. Also, the advantage of doing this kind of advertising is to gain trust of the people. They will be more interested in investing money for future. A directed approach will also make them attracted to this investment. The disadvantages might not affect the population who already had a lot of negative experience while investing therefore this action will help in influencing people to reinvest their money and grow their money.
- Provide an example of how Sharesies could use Public Relations to reach this target market? Explain what the advantages and disadvantages will be for Sharesies if they use Public Relations in the way you propose. (10 Marks)
A public relation is a form of promotion or marketing strategy that would use to reach out to the target market. Using public relations and providing incentives on bringing out new joy to the company will bring them benefits. This kind of public relation activity can be favored and applied by the Sharesies company. The advantage of this activity is the continuous engagement with the company. The company will create relation with its customers for new leads. Also, at the same time, it will bring a change in the marketing system where the existing customers are also being considered and given greater advantage. Also, a new joiner is also given their own advantage. The disadvantages sometimes a conflict can arise in the situation where public relation is the way or the outcome proposed by the share company for greater advantage in reaching the target market. Also, word of mouth communication and company reputation plays a big role in public relation marketing.
- Provide an example of how Sharesies could use Sales Promotion to reach this target market? Explain what the advantages and disadvantages will be for Sharesies if they use Sales Promotion in the way you propose. (10 marks)
Sales promotion activities can be promoted by Sharesies company for reaching the target market by giving the discounting or by giving an early approachable advantage to the target market (Zhang & Wang, 2017). The use of some techniques or tactics will be involved in this promotion activity. The advantage of using sales promotion by Sharesies company could benefit them by getting more customers for investment but at the same time, it will give a disadvantage because it will minimize their profit ratio as compare to the number of people reached in the target market.
Introduction to Marketing - Question 2
Sharesies is an online platform that currently relies heavily on digital advertising.
- Provide an example of how Sharesies could use Digital Marketing (other than SEO or SEM) as a promotion mix tool and give TWO (2) advantages this promotion mix tool provides Sharesies as opposed to other promotional mix tools. (10 marks)
Sharesies company could use social media marketing or digital marketing strategies as a promotion mix tools. Social media marketing is on the phone nowadays. Also, it is considered and turn out to be more effective and resulting as compare to SEO or SEM practices of digital marketing. Social media platforms are unlimited especially talking about the specific social media platform that must be used here is Facebook and Instagram. Facebook analyst and Google analyst along with Instagram and list out there that could provide the inside of Sharesies was approaching for the share market. The advantages of using digital promotion mix two ways that it is easier an hour day to reach out to the customer to the target market with the use of social media platforms. It engages more customers as compared to the number of customers that could be approached with search engine optimization or SEM (Patsiaouras, 2019). The other advantage is that it is relevant in cost as per the SEO or SEM marketing strategies. At the same time, the analytics and the provision of using customer insights with social media to a digital platform are greater in comparison to the other marketing techniques. The two disadvantages of using this promotional mix are that it may not directly be reaching the target customer. Target market and other than customers and also sometimes Sharesies what is not always it reaches out to the target customers. Another thing is usually on social media people like more entertainment rather than searching out on their agendas. People might take it lightly or may not show their interest despite having their interest in the share market.
- Provide THREE (3) ways how Sharesies could optimize their organic (or natural) search engine rankings for their website. (10 marks)
The three most effective way to utilize or optimize search engine ranking with the natural or organic method is to make it secured with HTTP. Another practice that could help in conducting the competitor analysis and then optimizing voice search or paid to speed on Mobile application search for the website (Misiuk et al, 2020). These are some organic activities that could be done. Other than that keyword listing to be actively carried out the good content will result in better organic rankings along with optimizing the page titled matter descriptions and other things. It is important to optimize their panic research and organic search ranking for the website because it improves the overall impact of the company while providing other opportunities for meeting the objectives and targets of the company.
- Since every Sharesies customer has an online account, Sharesies has a rich customer database. Briefly discuss the FIVE (5) ways in which Sharesies can use their customer database to increase the size of the investments customers make in Sharesies. (20 marks)
The five popular ways the company can use the database of their customers and can still increase company growth is by the use of effective marketing strategies. Actual customer value should be calculated and the value proposition should be increased in terms of customers. Also, engage in more people should not be the goal. The goal is to have a good customer subscriber base for the customers must be targeted. Where the customer insights it will engage more customers if the company is better working and continuously optimizing the working. Database in the list is not a matter of concern whether it is small or large or the database is small or not the thing that matters is the quality and the value proposition offered. To drive sales growth, it is important to determine the customer meets and resolving their concerns. The initial challenge that a brand faces is to provide a genuine reason for return and how will the company manage these returns there for days important to use a sustainable and reliable channel for reaching out to the current database. Sharing all the information will also be preferable but not to mislead on misrepresent of any information. Engaging or providing some new learnings or teaching to the customers can turn out to be another positive response triggering activity. Show yourself on the side of customers also showing yourself or the company in the customer's shoes and addressing the concern will turn out to be very effective (Motameni, 2018). Another thing that could be done is to communicate to the customers on regular basis having a team that can regularly get in touch with the customers sending emails or getting some embarrassing or something of their concerns. Help in solving those issues can turn out to be effective as well. Automation never comes cheaply so go to meeting the overall process will it tracked more customers and marketers are communicated. It will increase the brand value and the company’s value in the market also. Market automation is the new criterion of dealing in the share market (Fokina & Barinov, 2019). Therefore, with this cost implication, the customers will also get the idea that the company has the relevant and sufficient funds to channelize their customers and provide them with greater value. It will promote the future and fewer than restrict activities for the company and also it will help to channelize the customers accordingly with their comfort considering the target customer audiences.
Introduction to Marketing - Question 3
Sharesies is the first financial company to take the B Corp certification in New Zealand. As a Certified B Corporation, Sharesies needs to operate at the highest standards of verified social and environmental performance, public transparency, and legal accountability to balance profit and purpose.
- Sharesies has been approached by an employee of a recently closed investment firm and offered for purchase a list of clients from that firm that includes their email addresses. Sharesies is considering whether or not to use the list to promote their business.
Explain what New Zealand law Sharesies need to follow when considering using email lists obtained from other companies and how it applies to this specific situation? (10 marks)
The company should not use the list to promote their business as per New Zealand more. Also, the list from the other company proposed by the recent employer of that company then it comes under the acquisition and problem to that person instead of the sure company. However, the companies rule in itself whereby abide by the use of that list. This specific situation applies have integrity and fair practice in the company. Hence the use of any such activity of trading on lists will also be present a negative information and negative attention of the company in the market. Also using such kind of negative marketing tactic will never be beneficial for the share company. On the same hand, despite having Sharesies company achieving the first financial company status in terms of because certification in New Zealand then they are responsible and capable of generating more leads and more database of their customers through their practice is only towards success.
- Despite Sharesies’ efforts to promote consumer’s interests, financially vulnerable consumers could potentially suffer harm from using the service. For instance, some consumers with low income and high debts may think that investing in shares through Sharesies can generate quick money (Abratt & Bendixen, 2018). One philosophy in the textbook holds that ethical issues like these are decided by the free market and legal system. Companies have only legal responsibilities, not social responsibilities.
Explain what TWO (2) alternative philosophies Sharesies could apply to this situation and what the risks are for Sharesies if they do not adopt either of these alternative philosophies? (10 marks)
The ethical issue is to replace entering the misleading information for misrepresentation of information. The company should not follow any such practices that may mislead or misrepresent be sent any information to the customers. It is the legal responsibility of the company not to share any details approving or anyhow much information. There are people who are considered as customers of the company. They are financially well and able that they suffer from home by the services of the company. People with low income and high debt also invest in shares by the company therefore it becomes the responsibility of the company to legally and analyze and to share the truth regarding the share market activities. The risk for the company in such a situation is the loss of customer extreme truth if shared by the company then it can result in the loss of customer and loss of trust by the customers to the company. Sharesies company must do their job legally and truthfully but that does not mean they can open up their cards regarding their profit generation.
- If Sharesies was considering decreasing its prices, explain two external reactions to price changes that they should consider when setting their new prices. (10 marks)
Price decreased by the sugar company can have two external reactions such as getting new leads and by backing new shares and more shares by persons. New prices will be considered by customers. Especially talking about the share market; then in the share market it always deals based on the pricing of this year. Then any changes in prices can bring a huge difference in terms of the number of customers several shares held by each customer.
References for Introduction to Marketing
Abratt, R., & Bendixen, M. (2018). Strategic Marketing: Concepts and Cases. Routledge, 4-98.
Fokina, O., & Barinov, S. (2019). Marketing concepts of customer experience in digital economy. In E3S Web of Conferences (Vol. 135, p. 04048). EDP Sciences.
Misiuk, M., Kucher, O., Zakhodym, M., & Ievstafieva, Y. (2020). Marketing Concepts in the Formation of the Biomass Market in Ukraine. In Renewable Energy Sources: Engineering, Technology, Innovation (pp. 209-218). Springer, Cham.
Motameni, R. (2018). The Combined Impact of the Flipped Classroom, Collaborative Learning, on Students’ Learning of key Marketing Concepts. Journal of University Teaching & Learning Practice, 15(3), 4.
Patsiaouras, G. (2019). Marketing concepts can have a life of their own: Representation and pluralism in marketing concept analysis. Marketing Theory, 19(4), 559-566.
Zhang, X. P. S., & Wang, F. (2017). Signal Processing for Finance, Economics, and Marketing: Concepts, framework, and big data applications. IEEE Signal Processing Magazine, 34(3), 14-35.
Remember, at the center of any academic work, lies clarity and evidence. Should you need further assistance, do look up to our Marketing Assignment Help