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I have selected to do this assignment Facebook, Twitter & Youtube accounts for this
project
In Task 01 I have introducing OVER THE TOP and briefly explaining about key
benefits & unique elements of each service provider.
According to the Task 02 I have selected Facebook I have carried out a detail analysis
of the marketing mix elements of the Facebook. As well as its unique features in its
marketing mix.
In task 03 I have explained Segmentation, Targeting & Positioning (STP) process of the
Facebook.
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Introduction
Introduce the Assignment
As a student of the PgDip (1st Stage) in Marketing batch I 2014, I have been
assigned to complete this individual assignment as a partial qualification to complete the
course successfully.
Task one briefly explaining about Over The Top and briefly explaining its key
benefits and unique elements.
In task two I have to carry out marketing mix elements and the key unique features in it
mix. And in task three I have to explain about the Segmentation, Targeting, and
Positioning
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Task One
What is digital age?
Digital age refers to the present time use of machines and computers to present
information in digital format. Some of the commonly used digital forms is the use of
Information technology and the Internet.
According to the task I have selected Facebook, Twitter & Youtube to my project.
Facebook
Facebook is a popular free social networking website that allows registered
users to create profiles, upload photos and video, send messages and keep in touch
with friends, family and colleagues. The site, which is available in 37 different
languages, includes public features such as:
You can use Facebook to send messages to clients, colleagues and prospects. You
can send messages via private messages or live chats. Savvy internet marketers use
Facebook to network with other people, to connect with them and ultimately to
{build/create} and nurture relationships.
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Free Advertising
There is no upfront cost for having a Facebook page. The real cost is the time
required to create and manage the page on an ongoing basis. When you combine the
low cost of entry with the potential viral aspect of Facebook the number of people you
could reach becomes {massive/enormous} in a heart beat.
Twitter
Twitter is an online social networking and micro blogging service that enables
users to send and read short 140-character text messages, called "tweets".
Registered users can read and post tweets, but unregistered users can only read
them.
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Youtube
YouTube is a video-sharing website, created by three former PayPal employees
in February 2005 and owned by Google since late 2006, on which users can
upload, view and share videos.
Key Benefits
o You can reach a global audience.
o It doesnt need to be humorous.
o You can increase your rank in Googles search engine.
o Its free
o People will subscribe to your channel
Task Two
According to the this task I have selected Facebook.
Product
Is anything that can be offered to market for attention, acquisition, use consumption
that might satisfy a want or need. A product is everything both favourable and
unfavourable that is received in an exchange
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Price
Is the amount of money charged for product or service, or the sum of all the
values that consumers exchange for the benefit or having or using the product or
service.
People that are lured into Facebook enjoys all services free of cost, while one
controversial statement says that this is a virtual cost by means of using personal
information of users but this actually is not the case, as one can put as much
secrecy and privacy one can.
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Facebook earns most of the revenues by the commercial groups, online events
that are organized by the company, advertisements that come on the side of logged
on page.
Facebook being a private company doesnt opens up its revenue earning units
but always welcomes Brand advertising, performances advertising. Virtual goods
and Microsoft advertising and has earned up to 1.1 billion dollars from this,
according to a rough estimate (Dempsey, 2006).
Place
Includes all activities in order to make the product available to target consumers
in the right place and the right time
Almost 600 million users are registered with Facebook, being accessed mostly
by U.S community.
The network is most popular nowadays as it can be accessed anywhere, in
schools, colleges, universities and homes throughout the world.
Facebook has its availability along the globe and Egypt revolution is
commendably associated with the promotions provided by Facebook.
Promotion
Are the means by which an organization attempts to inform, persuade, and
remind consumers directly or indirectly about the products they sell.
Facebook had become partner with Microsoft, Pandora and Yelp according to a
planned strategy, and has earned a lot of promotion by taking this step, by
increasing user number along with ads promotion on Facebook by different
companies (Rosmarin, 2006).
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Extended Mix:
People:
The employees that execute the service, chiefly concerning the manner and skill
in which they do so.
Facebook employs about people
Process:
The processes and systems within the organization that affect the execution of
its service, such as job queuing or query handling.
Systems used for the FB servers, the thousands of applications, games available
to the public
Physical Evidence:
The evidence which shows that a service was performed, such as the delivery
packaging for the item delivered by a delivery service, or a scar left by a surgeon.
This reminds or reassures the consumer that the service took place, positively or
negatively.
Nothing per se, but if we are to measure, we can measure the FB site and chat
connectivity.
Task Three
Market Segmentation
Dividing a market into smaller groups with distinct needs, characteristics, or
behavior that might require separate marketing strategies or mixes.
Market segmentation is a process of dividing or grouping a diverse,
heterogeneous market into a number of smaller, more similar sub markets. The
objective is to identify groups of customers with similar requirements so that they
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can be served more efficiently and effectively with products and services that
much their unique need.
Market Targeting
Market segmentation reveals the firms market segment opportunities. The
organization now has to evaluate the various segments and decide how many and
which ones to serve.
Understanding the average user on Facebook can help you share better content
for engaging your fans and friends. The complication is that when you're talking
about the most popular social network -- with more than 1 billion users, as of the
date of publication -- the question becomes who isn't in the target market on
Facebook. Targeting your content should be based both on the sort of people who
use Facebook and the kind of customers on your business page.
Positioning
Positioning is the final stage in the overall process of target marketing. Once the
organization has established its product positioning strategy, it is then in position
to plan its marketing mix strategies.
Positioning is arranging for market offering to occupy a clear, distinctive and
desirable place relative competing products in the minds of the target consumers.
A Products position is the way the product is defined by consumers on
important attributes: the place the product occupies in consumers minds relative
to competing products. Products are created in the factory, but brands are created
in the mind says a positioning expert.
Facebooks mission is to give people the power to share and make the world
more open and connected. People use Facebook to stay connected with friends
and family, to discover whats going on in the world, and to share and express
what matters to them.
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References
1. Kotler, P 2000, Marketing Management (Millennium Edition), 07th edition,
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