Abstract
The objective of this report is to instruct an external company that would be hired to develop an integrated communications plan (IMC) for Zee Company. The brand selected is Costco and developing a brand identity prism for the same.
Integrated Communications Brief
Costco should improve their online products and marketing strategies in digital media. This integrated marketing communications plan will focus on Costco’s online products to increase online presence market share in sales through marketing competing with Amazon, Wal-Mart, Target and Sam’s club. Costco already is successful with their basic strategy to treat their workers well (Conway, 2014).
Problem
Costco has a unique business model compared to giant online retailers like
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The main objective is to go increase the global sales at Costco online store by five percent over twelve months. One of the critical items to be focused to achieve this goal is to enhance the Costco online stores with more new products and creating attractive web pages to strengthen the online sales. Consumers will be provided with one step shopping process and make faster and easier check out without needing any membership for first time users visiting Costco web page.
Target Customer Costco’s target market is men and women between the ages of twenty to forty five. They are the potential target for online shopping. Their major occupations are in medical, construction, engineering, finance and technology. These target consumers are associated with multiple social networks including Facebook, Twitter and LinkedIn (Laja, 2012).
Message
The development of the website should be completed in next six months. The website colors should be changing according to the seasons. Creating catalogs and repeated advertisements will offer good value. Creating advertisements and carrying Costco website, phone number can generate leads for online sales. Create special brochures for new products with new features to bring
The documentary is about the warehouse that never advertises like other stores, sells goods in large quantities, never bag the items purchased by customers and even then has 3 million customers paying membership fees to buy goods from here. The place is Costco Wholesale. It is the biggest warehouse chain in the world with sales of $93 billion a year. Customers have options to buy anything from lawn furniture to an engagement ring. No signs are put up to mark the aisles, this makes shoppers buy things not on their shopping lists and stumble upon other items..
In the recent years Walmart has been far our performing its top two competitors; Costco and Target. With a market cap of 212,195,024, Walmart had beaten its competitors who remain at 65,969,279 for Costco and 43,701,237 Target (NASDAQ, Competitors). This means that for Walmart, the total market of all of their goods and services far surpasses its top two market competitors. As investors, you may ask why Costco is second to Walmart’s regarding sales. Well when we take a closer look, we see that “Walmart’s treatment of its customers and employees has not always been then best.
Strategic Plan CanGo is a very successful internet business that has not followed the traditional ways of building a strong organization. Elizabeth Bennet, the CEO of Can Go, had a dream, pursued it and obtained success by accident. The purpose for the strategic plan is to develop a strong structural organization that has the ability to manage a successful innovative organization with character and integrity that leads the ecommerce market by remaining abreast of cutting edge technology. This strategic plan will shape how Can Go does business and to ensure the delivery of the highest level of professionalism to the customers. The vision, mission and value statement will be engrained in the behavior, how well customer behavior is understood,
In Costco’s macro-environment, a variety of factors could affect the company’s economic viability. External factors such as inflation, foreign currency exchange rates, levels of unemployment, reduced consumer confidence, and changes in tax policies could unfavorably affect the demand for Costco’s products and services. Prices of some goods and services including food products, are often variant and subject to fluctuations deriving from changes in domestic and foreign supply and demand, competition, taxes, labor costs, or delays in delivery which could significantly affect Costco’s sales. Therefore, the product’s costs and selling could also increase affecting financial results. Other important economic factors include the increasing international
Market Segmentation: To be of value market segments must be measurable, substantial, accessible, differentiable, and actionable (Kotler & Keller, 2012). Segmentation of demographics for Costco is vast as the current product offerings include all genders, ethnicities, incomes. age groups, and social classes. When considering demographics, it is important to consider the average or typical characteristics of the target market. As mentioned earlier the target market or focus for this company is supplying the small- to medium-sized business and targets the middle- to high-end consumer with its private label brand Kirkland Signature.
Costco does not have an effective social media marketing strategy. Despite using some social media tools such as Facebook, Twitter etc., Costco has a severe lack of presence in the social media world due to an ineffective strategy or lack thereof. Their Facebook page gives very little information about any events or offers available and often directs customers to Costco.com in order to get any proper information about their products. Poor use of social media as an effective form of advertisement has seriously reduced their potential customer base. They need to develop a marketing strategy that can incorporate social media for use in marketing and
What are the two types of core competencies that drive a firm’s competitive advantage? Which firms demonstrate a clear competitive advantage because of (a) major value-creating skills/core capabilities and/or (b) superior assets or resources? Which firms have demonstrated sustainable sources of competitive advantage? The two core competencies that drive a firm’s competitive advantage are cost leadership and differentiation.
TCii (2011) describes the importance of digital marketing that as the world is moving from analogue towards digital, people are consuming more and more digital content on a daily basis just as increased usage of mobiles, computers at works laptops and other gadgets-the companies who have yet not recognized this in their marketing strategies need to adopt it fast. The pace at which world is focusing on digital marketing it is possible that soon it will eliminate the traditional forms of
I. INTRODUCTION Social Networking Sites (SNSs) are online platforms that users use to create Personal profiles, associates with companion and fuss in different parts. Social networking sites exhibits individual profile and facilitates with various other activities such as sharing information with each other. Social networking sites grab million of people in the globe who are united these websites into their daily life style. Social networking sites will become famous all over the world.
DIGITAL MEDIA STRATEGY: 7 BE ORIGINAL AND CREATIVE 7 BE EMOTIONAL 8 BE HUMOROUS 8 BE PROVOKING 9 REFERENCES 10 Oreo Introduction Mondelez International is a global snacks powerhouse with products marketed in 165 countries and with operations in more than 80 countries bringing in $35 Billion in revenues. In India it operates through Mondelez India Foods Ltd. (erstwhile Cadbury) and is an undisputed leader in the chocolate market with a market share of almost 70%. Cadbury in India has been known for its innovative marketing strategies and effective brand positioning. Since its launch of Cadbury Dairy milk the company has effectively repositioned the brand to suite the prevalent circumstances and the same finesse was evident in the launch of its premium biscuit brand Oreo in India.
We all know that shopping at stores requires us to go to mall or department stores in buying supplies and spend our money. Now we live in the age of internet and buying things can now be done by clicking a mouse. Because of the numerous benefits of shopping online more and more people these days prefer online shopping over conventional shopping. But which one gives us the best benefits? Our discussion centered on three differences between shopping at stores and shopping online.
Most people today, own one at least one technological device which could be one of the access platforms that form online channels the company may apply for their digital marketing to achieve profitability and retention of customers. Chaffey and Ellis-Chadwick (2012) state that a digital marketing strategy is constantly needed to provide a sense of direction for an organization’s online marketing activities so that they integrate with its other marketing activities and support its overall business goals. According to Parise et al.
2. Introduction Defining an effective Marketing Communication Plan and Communication Mix through a well researched strategy will not only help to reach out to potential customers, but it will also help to adapt and respond to the ever changing marketing environment. This report starts by examining the various promotional tools used by marketers in the marketing of their products and services, including the advantages and disadvantages of the tools. The report goes on to examine the meaning of Integrated Marketing Communication (“IMC”) and the importance of measuring the effectiveness of the Promotional Campaign.
Online shopping has nowadays become a widely spread way of shopping among people on different continents and in different countries. Its popularity is constantly on the rise considering the spread of Internet technologies and the increasing share of online shops in the retailing business. Online shopping activities are gaining wide spread as far as they tend to provide the consumers with numerous benefits and increase the convenience of buying without leaving the house. The popularity of online shopping grows due to a range of reasons, including its convenience as well as time- and money-saving potential.
More and more people these days prefer online shopping than shopping in malls because of so many advantages and benefits. People from all over the world have accepted online shopping sites because of the convenience provided like from shopping in their pyjamas to convenience for elderly and disabled. Not only this, online shopping sites also provides a wider choice of products, avoiding upselling or impulse buying, better prices, good for the environment, and