North South University

SBE, Department of Marketing and International business

Final Assessment

Submitted to
MD. ABDUL MUMIN

Submitted by
FARHA DIBA FERDOUS
ID: 1631053630
SECTION: 03
Date of Submission: 23rd May, 2021
Answer: 1

The Covid-19 outbreak has triggered a world economic disruption of significant magnitude with
an escalating pace, resulting in steep recessions in many countries. It has caused an
unprecedented global economic impact at an astonishing rate, leading to rapid economic
downturns in many countries. Despite exceptional policy support, the baseline forecast envisages
a 5.2 percent decline in global Gross domestic product (GDP) in 2020, the deepest global
recession in eight decades. With the widespread social-distancing initiatives, sharp contractions
of financial conditions, a slip down in foreign demand depress activity is observed. For emerging
markets and developing countries, many of which have faced daunting vulnerabilities, it is
critical to strengthen public health systems, address the challenges posed by informality and
implement reforms that will support strong and sustainable growth once the health crisis abates.

Advanced economies are expected to shrink by 7 percent. In 2020, Emerging Markets and
Developing Economies (EDME) GDP was predicted to contract by 2.5 percent. News findings
present a dismal picture of the number of affected supply chains. With more than 90% of
EDMEs indicated to encounter per capita income contractions this year, several thousands of
people are likely to slip back on poverty. The global economy is undoubtedly lead to a halt with
the outbreak of corona virus. The baseline forecast envisions a 5.2 percent contraction in global
GDP in 2020, using market exchange rate weights- the deepest global recession in decades,
despite the extraordinary efforts of governments to encounter the downturn with fiscal and
monetary policy support. Over the longer horizon, the deep recession triggered by the pandemic
are expected to leave lasting scars through lower investment, en erosion of human capital
through lost work and schooling, and fragmentation of global trade and supply linkages.

Customer value measures a product or service’s worth and compares it with its possible
alternatives. This determines whether the customer feels like they received enough value for the
price they paid for the product/service. Sindabad can look at customer value as insight into
buyer’s remorse. If customers feel like the total cost of an item outweighs its benefit, they are
going to regret their purchase, especially if there is a competitor who is making a better offer
than ours for a similar product or service. Understanding customer value and how to calculate it
can help our business price products fairly and reduce friction within the customer experience.

Apart from being attractive and retaining customers, customer value has also become the
deciding factor of the market share and shareholder value of every company. That is why
forward-looking organizations are focusing more on creating consumer value and sharpening
their value propositions. Creating Customer Value increases customer satisfaction and customer
experiences. Also it increases loyalty and market share price, reduces errors and efficiency leads
to higher profits.

The exchange process extends into relationship marketing. In pandemic times, businesses and
start-ups face real tests as they fight for competition and mid growing demand by consumers for
online services.

The core product dimension is exceptionally important dimension within the product-planning
framework. The core product conveys the underlying benefits which the consumers and business
users are actually seeking in their everyday products that they buy.
The expected product level consists of the common products that not only satisfies the
fundamental benefits of customers, but also their other expectations. Customers have a minimum
set of expectations about a product or service. The expected product is offered to meet the
minimal purchase conditions.

Sindabad differentiates by adding value to its core product in terms of reliability and
responsiveness. Some examples of augmented product by Sindabad are iPhones, Samsung
mobiles, desktops and laptops.

Using the IPACE framework, compare and contrast the possibilities of online retailing using a
site such as Sindabad. The Internet has provided marketers with tremendous opportunities to
locate targeted consumers and provide appropriate offerings to the end user. In addition,
advancements in technology provide the opportunity to gather data for analysis, providing a
greater comprehension of consumer shopping desires, and the ability to provide the consumer
with online product offerings to support the shopping demands.
Answer: 2

Online traffic is the lifeblood of an ecommerce business as more traffic results in more sales and
vice versa. With the rising use of e-commerce shopping or online purchase owing to the
pandemic, the companies successful in getting the customers visit their website are the winners
as customers are tempted to buy the products they see more often. Following are the strategies a
company can follow to increase the website traffic on its website.

1. Create Blog Posts around Popular Products

Creating consistent and an interesting content can drives lot of traffic to our ecommerce site as
an online store is not all about selling products and services and most consumers are looking
forward for a new and unique purchase experience.

2. Optimize Your Store for the Right Keywords or creating SEOs

It's important for an e-commerce company to understand the role SEO plays in helping drive
traffic to their site as SEO as a marketing tactic is used to help the company's ecommerce site
appear in search engine results for different keywords and the company's website will appear in
the top results whenever a prospective customer enters a search term in Google.

3. Use Power Words in to Boost CTR

The company might not get the required traffic on its website even if it is ranking in the top 10
results on search engines because of the fact that the users aren't clicking on its link. The
company can add power words to make its titles more attractive and trigger an emotional
response resulting in more traffic.

4. Promote Products Based on Your Audience's Interest

The company should know what your customers like as by figuring out their interests, it can add
products that they prefer and also create content around those interests to boost its web traffic.

5. Create Region Specific Campaigns

The company has to find out which region or the areas its visitors come from as by uncovering
its top regions, the company can develop geo-targeted campaigns, promote products for that
particular region, and send personalized messages.

6. Optimize Its Online Store for Mobile

Optimizing its eCommerce sites for desktop and ignoring other devices will result in poor user
experience on mobile devices resulting the visitors leaving. To attract more visitors on
company's site, we need to ensure our online store is optimized for mobile.

7. Send Push Notifications to Bring Back Visitors

Another way of getting people to visit your eCommerce store is by sending push notifications as
clickable messages appearing on the user's desktop or mobile reminding the buyers about a flash
sale, sending them incentives like discounts, or informing them about a new product.

8. Invest in Google AdWords

Another way to drive traffic to the eCommerce site is to pay for it as the Google AdWords as a
pay-per-click advertising method designed to draw more people to the eCommerce site results in
the company only have to pay for its ad when someone clicks on it, views its video or calls its
business.

9. Start a Referral Program

Starting a referral program is another way to utilize existing customers and drive traffic to its
eCommerce site.

10. Run an Email Marketing Campaign

An email campaign can be launched to target new customers, existing customers as well as those
customers who abandoned their cart or didn't complete the purchase during the purchase process.
Answer: 3

The increased importance of customer engagement is a result of a number of things dovetailing

together including:

 Media fragmentation, at least in the short term, has led to reduced customer loyalty
because there is so much choice. It also makes initiating the relationship tricky since you
have to deliver instant relevance, credibility and trust to show the experience is going to
be worthwhile.
 Broadband has provided us with increased opportunities for delivering and measuring
interactive experiences, and at the same time raised the expectations of our audiences.
Probably most important of these expectations is the ability to choose when and how we
access content and services.
 The rise in importance of interactive media to the marketing mix (Latest research in the
US indicates that the 18-26 age group now spend more time online that watching TV)

"Repeated interactions that strengthen the emotional, psychological or physical investment a

customer has in a brand".

The two key words here are "repeated" and "investment". A simple focus on maximising
conversions can, in some circumstances, decrease the likelihood of repeat conversions. Think of
that pushy door-to-door salesman. You might buy something from him but what is the likelihood
that you will repeat that purchase, or recommend his services to a friend?

Customer engagement places the strategic emphasis on the creation of valuable relationships and
encourages both parties to see mutual advantage in that relationship. Frequently this will mean
that your tactics require a multi-channel approach incorporating the best of digital and traditional
media. I see the ability to effective blend media in its type, quantity and timing (known as Right-
touching) as one of the key challenges for those interested in engagement in the coming years.

The psychology of credibility is equally rich in opportunities for marketers. An understanding of

the four types of credibility; presumed, surface, reputed and earned can help us refine our
messaging, particularly online where taking short-cuts to making decisions (decisional
heuristics) is commonplace. Indeed research last year in Canada indicated that customers make
up their minds about the quality of websites in just a 20th of a second.
Answer: 4

1. For the functioning of an e-commerce company social media plays a very vital role. It is due
to the following reasons,

 Social media can attract a large customer base through paid promotion, collaboration,
product placements, and using influencers
 The presence of the company in social media will help to convey the operations and
qualities of the company to the public very easily.
 The company can interact with the customers through social media platforms and can
collect feedback from them.
 Apart from all these, the services and products of the company can be marketed and
promoted through social media sites themselves without incurring any additional cost.

2. Consumer-generated content and social media

Using social media consumers can themselves share the videos and photos of the products they
buy. They can also make a comment about the quality and usefulness of the product. This can
serve as an important tool for promotion and marketing. Consumer-generated reviews which are
available on social media such as review videos and vlogs will seem more appealing and
trustworthy to the customers. Therefore it can really influence the brand image and sales.

3. Owned and earned media is where you create an account or channel in any of the social media
sites and earn considerable reach and control. Here you can leverage your own account or
channel for promotion.

Paid media on the other hand is leverage through third-party accounts. That is you are
approaching a third party who has enough popularity to promote your product for a given
payment.

In the case of an e-commerce company, both methods can be employed. In the initial stages, it is
advised to use the paid media to attract more customers and once the control has achieved it can
manage activities through its own account.

4. The two perfomance matrices that I would choose for the media adopted are,

 Customer Acquisition Cost

 Average Revenue Per User
Bonus Answer:

Benefits of Multi-Channel Strategies

Channel Preference
Different people are more receptive to communications via different channels. Facebook, mobile
push notifications, email, text messages, and phone calls – determining which channels are
preferred by which customer personas is a powerful way to improve the response rates and uplift
of your campaigns.

Channel Medium
Different types of messages work better over different channels. For example, SMS text
messages work best for short messages that have some urgency associated with them. Emails are
obviously better suited for longer messages and in cases where the visual design plays an
important role. Facebook is best suited to social communications or messages that are designed
to “go viral,” etc.

Multi-Channel Variety
Our brains are wired to automatically differentiate between information that we need to notice
and retain versus information that we can discard immediately. Without this ability, we would be
quickly overwhelmed with information and unable to function. Because our brains are able to
ignore or discard most marketing messages, advertising must be repeated to get the audience’s
attention. Repeating a message via different channels is much more effective than repeating it via
a single channel.

Multi-Channel Synergy
Sometimes the whole is worth more than the sum of its parts. When using multiple channels in
ways that complement and support each other, individual campaigns can generate better than
expected results. For example, if there is no response to a push notification within a reasonable
amount of time, we can use another channel to reinforce the message without annoying the
customer.

The Challenges of Multi-channel Strategies

Targeted messaging
Thanks to the abundance of channels and choices facing customers, delivering the message isn’t
enough. Messaging must be tailored to the audience’s preferences and take into consideration
demographic, behavioral and transactional history, preferred channel and current location.
Engaging customers this way will ensure that they not only receive your message, but are also
attentive, receptive and willing to act – regardless of the channel.

Highly choreographed campaigns

Customers are everywhere, and you should always aim to be where your customers are. In
addition, customers today have much more control over the buying process than marketers do.
As a result, marketers must constantly develop and coordinate highly orchestrated touch points
and micro-campaigns that span multiple channels fluidly, in a way that the customer finds
meaningful and trustworthy.

Marketing response attribution

It is increasingly difficult to know which channels, campaigns or sequence of touch points
contributed to qualified conversions and sales. Knowing what triggered each response would
enable marketers to assess whether or not their marketing efforts are getting the best results.
References

https://www.optimove.com/blog/multi-channel-marketing

https://brainmass.com/economics/environment/ipace-framework-economics-internet-
109305

https://www.amazon.com/Identifying-framework-opportunities-retailers-customers-
ebook/dp/B006AA0PD6

file:///C:/Users/user/Downloads/Barzakova_V_MSc.pdf