Strategic Marketing Management

Discussion Board # 1 Strategic Marketing Management Initial post: #1 Part I: Personal Brand Attractiveness  As for my personal brand affinity, there are several companies, though there are three that I do recognize as personal branding entities: Apple, Nike, and Starbucks. I have been a lifelong customer of these brands and what has made me recognize the creative and innovative ways they market their brands and products as well as the ability to make a consumer develop an attachment to their brands. For example, I have personally been using Apple products for over a decade now. (Narotzki, 2017). The loyalty is due to a friendly interface, an ability of sleek design and last but not least, the ability to integrate devices perfectly.  Likewise, Nike has pulled my string through its strong iconography that symbolizes inspiration and accomplishment. Their “Just Do It” is one of the most inspiring campaigns to me and also my desires make me want to strive harder. Nike’s approach of hiring celebrity athletes, actively engaging in Social Media platforms, and involving society in community-related activities has assisted in strengthening my allegiance to the brand. Sometimes, the campaigns they make have an appeal to the emotions and this makes me lean towards Nike while making the choice of the athletic brands.    Another brand that I am a loyal customer of is Starbucks, this is mainly due to the quality of their services. Various methods they use to capture the market include seasonal offers, customer loyalty integrated programs and much-involved social networks which makes me captured. The presence of Starbucks stores’ atmosphere and the tradition of consuming coffee at the brand’s establishment help me relate to Starbucks.  Part II: Successful marketing communication strategies  Warby Parker is an eyewear company that strives to perform efficient marketing campaigns for its products. Thus, Warby Parker blends digital and conventional techniques of advertising while targeting the audience of young people interested in fashion and affordable spectacles. Warby Parker also has active and lively social media profiles that feature trendy glasses and actual customer reviews. Another factor that appeals to consumers’ sense of social justice is their policy to use part of the proceeds to donate a pair of glasses for each pair that was sold. (Marquis & Park 2014). Kraft Heinz is a medium-large company, which seems to have issues with launching relevant and effective marketing campaigns. Although they boast a good range of products, they appear to have poor marketing, which at times the firms can be deemed to lack creativity. For instance, the use of traditional marketing tools such as a television commercial is unpalatable to the young generation who are digitally inclined. Also, there has been some criticism of Kraft Heinz's failure to capitalize on certain healthy trends like plant-based products or organic products. References Narotzki, D. (2017). Corporate social responsibility and taxation: A chance to develop the theory. W. New Eng. L. Rev., 39, 539. Marquis, C., & Park, A. (2014). Inside the buy-one give-one model. Respond to post #1 (Br B) Part I: Personal Brand Affinity   My brand loyalty is mainly to the store brand because most of my upbringing was brought up to look for cheap products. This loyalty is not only based on the fact that prices for store brands are lower than the prices of name brands but it is also based on the fact that many store brands are produced by the same manufacturers as name brands. This has made me more selective about what I buy, so most of the time I get store brands that are equally good but cheaper. For example, when I am reading the ingredients list in order to choose between store brand and name brand products, I often realize that both identical elements are included. This has reinforced my thinking on advertising that it doesn’t control my decisions but it is the product quality and its cost that are important to me. Part II: Effective Marketing Campaigns First, it is evident that Walmart is one of the companies that have been doing very well in its marketing undertakings. Its brand has become identified with low prices and easy access, making this aspect of its marketing strategy very effective. There are several methods through which Walmart attracts consumers and some of them include promotions, sale among others. The huge appeal comes with the concept of the ‘under one roof’ approach as many consumers nowadays are constantly on the move and value time, meaning that they would be willing to purchase everything they need at one store. Not only does this approach entice people to come into the store, but it also helps to retain those customers who are already loyal to a brand. Response posts: #2 (Ant B) Response posts: ALS: Ant B  Part I: Brand Affinity  Indeed, I was able to learn much from you, especially from your link to brand affinity which I also relate to Tide. That is why it is so interesting how people can have emotional connections originating from events, such as seeing their work in response to disasters. It is also good to see that you have noticed their activities focus on sustainability, which shows that the issue of corporate responsibility is becoming very influential in the formation of the consumers’ attitudes. In any case, it is quite obvious that Tide has cultivated a brand that aligns with your identity, which is evidence of good marketing strategy as well as social relations.  Part IIa  McDonalds is one such brand which can be taken as an example of brand marketing. Their success in changing and also keeping long-term dynamic ad campaigns is impressive. All the taglines that you mentioned above not only signify the change in consumer attitude but also demonstrate how McDonald's successfully marketed its products and services to different target markets such as the “I’m Lovin’ It” campaign targeted towards the youthful crowd. McDonalds’ integration in digital technologies and their collaboration with delivery services only add to their appeal and accessibility making them a quintessential fast food joint.  Part II (b): As seen from the ineffective marketing, this firm needs to overhaul its marketing techniques and grab the attention of customers by achieving their attention.  You have exactly described the case of Conn’s Home Plus perfectly. It is rather disheartening to watch a company that has been in business for a very long time fail to do well technologically because of poor marketing. Depending on the sales inside not investing in online plans or abiding by advertising techniques can push away customers. These are important because your suggestions for re-branding and broadening their advertising platforms are valuable. Currently, to target more buyers a firm needs to adapt to the concept of multi-criteria to stay relevant in the contemporary market. That is the reason it will be interesting to track whether Conn’s can effectively diversify to win back the market. Discussion Board # 2 Strategic Management and Planning Initial post: #1 Initial post: #1  New Business Venture: EcoLight—Solutions for Home Lighting That Will Last.  Over the last few years, I have seen a huge trend regarding people’s concern and the need for environmentally friendly and energy-efficient home improvement solutions. This has made me come up with a new business idea for EcoLight; a company that deals in affordable and ecological home lighting gadgets. In terms of mission, Eco Light’s main goal would be to produce and create aesthetic lighting fixtures that are also ecologically friendly and are composed of recycled and recyclable material. The product range would consist of LED bulbs and smart lighting systems, lamps and fashionable lighting fixtures which could be made from recycled wooden and metallic components. (Panapanaan et al. 2016).  Competitive Strategy: Differentiation  When it comes to the market competition strategy that may fit for EcoLight, the best one is differentiation. The third strategy is differentiation; it is a strategy that aims at creating a product that is a bit different from those of competitors so that the business can set a high price due to the value it brings. For EcoLight it would be the aspects of sustainability, unique and cutting-edge design and engineering as the tools of differentiation.  Rationale for Differentiation:  Sustainability: When marketing to the consumer, what was special about EcoLight to consumers that would set out for other companies, particularly in the light bulb industry, was the use of recycled plastic and advertising for energy efficiency. This will help in the brand positioning of the product because of the many traditional lighting companies that are not so much into sustainability.  Innovative Design: The appeal of aesthetics of EcoLight products would satisfy the consumers who have a need for lighting solutions and at the same time, would want to beautify their homes. If EcoLight worked closely with design professionals and artists to produce elegant, contemporary and personalized concepts of lighting then it could corner a new market, which is design-sensitive and designs forward just as it is environmentally conscious. (Bridle & Clarke 2017).  Advanced Technology: EcoLight would be appealing to consumers willing to embrace the latest advancements in home use technology like the use of applications in managing lighting and energy use among others. Such tech integration makes EcoLight stand out from other companies akin to it which are likely to offer simple solutions in lighting. References Panapanaan, V., Bruce, T., Virkki‐Hatakka, T., & Linnanen, L. (2016). Analysis of shared and sustainable value creation of companies providing energy solutions at the base of the pyramid (BoP). Business Strategy and the Environment, 25(5), 293-309. Bridle, R., & Clarke, K. (2017). Sustainable Lighting Solutions for Homes in Rural India. International Institute for Sustainable Development. Response posts: #1 (DRU) I agree that the idea of a fractional safety share company is quite unique and relevant to the current business environment, especially for SMBs struggling with EHS issues. That is why subscription-based models can be more flexible, providing access to specialized knowledge that SMBs often cannot hire full-time. Besides, it also promotes fairness in utilizing EHS resources and addressing the problem of addressing different needs of businesses depending on current projects and compliance regulations.  Your analogy to Yellow Bird which operates within an on-demand service delivery system is quite inspiring. By building a new business model on top of an existing framework, the fractional safety share company can minimize the risks of using a new model while at the same time satisfying existing demand. Also, this model can have a positive impact on SMBs minimizing risky behavior due to a lack of security professionals and proper resources.  The focus being provided to the proposition that is differentiated to cater to SMBs only is the one that needs to be followed. These industries might often struggle with managing EHS regulations and constant, easily accessible help in dealing with that might do wonders. Besides, long-term customer relationships through mutual trust and reliability will improve customer loyalty and business retention.  It will be exciting to know how this model could be further developed using technology. For example, an app or platform that provides real-time access to SMBs looking to connect with EHS professionals would make the process even easier. Furthermore, including technical or teaching presentations as part of the package may enable SMBs to address some of the EHS concerns in-house thereby enhancing the preventive measures on safety compliance. In summary, your proposal could effectively target a missed opportunity in the market and improve safety across various sectors. Response posts: #2 (Ja Ju) The establishment of an occupational safety and health consulting business is a good idea at the right time and opportunity for high-risk regulations in organizations and increased concern for safety at the workplace. A clear growth opportunity is therefore presented by the increasing need for consultants regarding OSHA compliance and creating safety programs  For a successful market development, the differentiation strategy will be important for the definition of competitive advantage. The business can target customers in specific areas such as chemical exposure evaluation, and ergonomic assessment, as this way, clients will seek the company for specific services and not general consultations. This specific knowledge brings well-deserved credibility hence fulfilling the function of satisfying the needs of different fields.  Introducing enhanced safety measures as well as wearable monitoring devices and Artificial Intelligence-based risk analysis tools will also be added advantages in the business. Clients have a desire to receive new approaches that will go further than simple compliance to increase safety performance. Customized safety programs such as training and audits can go a very long way in developing long-term business with clients and create a lot of value.  Creating a corporate image that would associate the company with quality and innovation in the market will improve its reputation. Increased credibility will help gain new clients’ trust which is needed to diversify the existing portfolio of clients. In conclusion, a differentiation strategy should be the ultimate approach, for the business to charge a premium price as the client will readily pay a premium in order to get improved safety from the specialized service.