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Assignment-1, Part II R.N.M.B. Inderpreet Singh Roll No. 2010PGP136 Case 1 – Branding in the Digital Age The case starts with the traditional marketing relationship focus on the product or service in earlier time and how it evolved to sharing the consumer experience to make the buying process more dynamic. Consumers getting engaged with brands is explained by the CDJ (Consumer decision Journey) model which consists of four stages: consider, evaluate, buy and enjoy, advocate, bond. The stages of consideration and buying resources are elevated by building awareness amongst the public, which act as support to the brand. Potential customers feel more convinced with the product when he/she experiences it. The set of attributes which act as powerful factor are placement, packaging, availability, pricing and sales interactions. A satisfied customer help in spreading good words for the brand, i.e. they endorses the brand vis-à-vis a disappointed customer can put scratches on the brand shine/popularity by means of blogs, online reviews etc. So brand has to take care of the customer at every stage of CDJ, especially the last stage. A fact from case, “60% of consumers of facial skin care products do online research about them after purchase a touch point entirely missing from the model” tells the companies should focus the media spent on stages in decision making i.e. buying process, in considering the brand over other. Implications of RNMB 1. Media expenditure to include more of new media to build brand over the traditional method as most of the people look online for the product. 2. In the funnel approach, after the buying is the ultimate goal whereas in loyalty loop after the buying takes place, There is a factor of enjoying, followed by the advocacy of the brand, which creates a bonding of consumer with the brand and thus loyal to the brand. 3. Digital media when used effectively results in bonding / advocacy i.e. connecting seamlessly with the retailers by inserting links in company’s site, initiating online communities, contests and e-mails promotions 4. More agile with the content to rationalize the creation and flow of product related content to relate with the customer for articulating attributes. 5. The companies should identify key sources of information for consumers and focus their expenditure there to derive the most benefit out of their marketing efforts. 6. Traditional roles in a typical organization must be modified or upgraded to better integrate the new media in their business. Role of New Media in Business June 22, 2011 Assignment-1, Part II R.N.M.B. Inderpreet Singh Roll No. 2010PGP136 Case 2 – HUL’s Social Media Efforts HUL’s negligence on Facebook page of Conetto Luv Reels could have lowered the confidence on company by the users. However, they were on time as the activities due to interest on the page were still happening After building trust in users by declaring results of Season-1 and broadcasting the videos and songs thru YouTube Channel ,now promoting by quoting “India’s first of its kind platform for aspiring actors, singers, musicians and scriptwriters” is the new Season by HUL “Luv Reels Take 2”. The FB page is being mentored by a famous Hindi film director, Kunal Kohli. HUL has been successful in converting the attention of thousands (475,459 to be specific as of 21st July 2011) using this new media. Expanding the presence, HUL is now broadcasting on Twitter and YouTube. To participate in the games, script writing, singing, acting events one need to register on the site using a FB username, so that the potential users can get all the updates and messages from HUL. Also aggressively moving into online media, HUL licensed to broadcast Dabangg movie which can be viewed with customized ad of HUL products. HUL is concentrating more on online as the youth of the nation (potential customers) are more and more active on social network websites. Articles also mentions “YouTube viewership doubled in a year’s time” which was similar to TV but it was many to many type of communication. Digital media can be the reason for great success or spectacular failure of any brand. Implications of RNMB 1. Strategically taking marketing initiatives for the branding of products due to the increased evolvement of public in digital media like Twitter, Facebook which is many-to-many communication. 2. To keep the customers updated and regularly follow the online campaigns and retaining the customer to come back again and again along with the offline initiatives. 3. Strategically planning with new media as customers are not bound to be loyal to organization, hence this can result in failure of the brand or product if not taken care 4. HUL’s engagement with customer will build strong brand equity with time. 5. The new approach of spending pattern of marketers on new media helped in high level of engagement with customer, which further helped in brand development and understanding consumer behavior Role of New Media in Business June 22, 2011 Assignment-1, Part II R.N.M.B. Inderpreet Singh Roll No. 2010PGP136 Case 3 – Here a tweet, There a tweet The case talks about twitter working as game changer of marketing and advertisements. Over the traditional techniques it can be employed to develop social media techniques. In Case Rory Sutherland, mentions that Twitter can provide more accurate behavioral details of the public as tweets are made in real time and location, enabling to spot problems in real time and respond to them with enough speed. In the article Justin Gibbons of Work Research mentioned that Twitter cannot replace the consumer research. One justification for this was that almost all uses on Twitter have an ulterior motive and their opinions are fabricated. However twitter is giving many research agencies opportunity of using this new tool to understand consumers and brand prespective. The hybrid theory about using twitter as marketing tool as the data base of options and interests can be available by using data gathering tools but it was not able to mention the in-depth insight of brand. Implications of RNMB 1. Marketing efforts can be focused and tailored according to real time inputs gathered from social media sites like Twitter and advertisements can be modified accordingly 2. Conventional Focus Groups are happening, but Web 2.0 is inexpensive, immediate and fresh. 3. Prediction markets (Tweets along with blogs) of the crowd’s opinion will result in more accurate expert forecast. 4. The crowd in Twitter is diverse, decentralized, and independent. 5. The online media like twitter, blogs is starting a trend of “Trust” advertising, one can know about the product thru the tweets. 6. The information gained from consumers is real time information obtained in a contextualized environment rather than a simulated environment. This leads to gathering unbiased opinions. 7. Relying too much on social media sites may at times provide skewed information as it captured only from the group that uses the social networking sites. 8. Social networking sites may not be a full proxy to marketing research but they can definitely form a ground to validate the hypotheses proven earlier through structured market research. Role of New Media in Business June 22, 2011 Assignment-1, Part II R.N.M.B. Inderpreet Singh Roll No. 2010PGP136 Experiences with group assignment and individual assignment 2 Individual Assignment-2 is really a good initiative through which we are actually contributing. Submission of assignments in college involves lot of search from internet but without contribution. Individual Assignment-2 gives us opportunity to contribute, and also setting a trend towards this. Every drops matter, let there be rain of knowledge from this institute. This brought new perspective how Web 2.0 can be used to generate knowledge bank. This course made me more active on social media like facebook, twitter, linkedIn in which I actively participated in many to many communications. This will definitely help me in my career ahead. Group Assignment made me think about how we can advertise online without spending much. This is a challenging task and being a future manager I have to think like this. This assignment is making me think few years ahead. Could have been better if some platform was provided, like a detailed checklist which contains major key issues. It’s a great course, and learning was fun filled. Role of New Media in Business June 22, 2011