Week10Assignment1 x
Digital Marketing Analysis
For this discussion, think about the business or company you have selected for your Unit 10 assignment. Respond to the following:
- What digital marketing approaches might be appropriate to reach the targeted customers?
- What digital marketing approaches are likely to be least effective
You wrote about Samsung for week 10. Do you still have that assignment if not I am sending it to you.
Running head: MARKET ANALYSIS 1
MARKET ANALYSIS 2
Marketing Analysis Report with Metrics
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Marketing Analysis Report with Metrics
Samsung incorporation is a public traded company that specializes in manufacturing consumer electronics across the globe. It is one of the top electronics companies in the world, and the company concentrates on digital appliances, semiconductors, media, memory, and system integrations. The company is a notable leading supplier of digital media and digital convergence microchip technology.
Samsung Electronics America Inc” of Ridgefield Park, NJ 07660 operates primarily in SIC Code 5731 – Radio, Television, and Consumer Electronics Stores and NAICS Code 443142 – Electronics Stores. Samsung Electronics America Inc is a large-sized business with high revenue, that is well-established in its industry. Samsung is a distinguished manufacturing group with a merchandise portfolio ranging from consumer electronics, building construction, and finance to other industrial services. The corporation attributed its attention to four technical extents and reduced its size by offloading over a hundred non-essential businesses in 1977. Samsung created a excellent consumer brand in its appliance and electronics ventures. The corporation approach also gained interest in manufacturing technology and revolutionary products in telecommunication gadgets, semiconductors, and related home appliances. The home appliances venture has made Samsung a top competitive overall solution provider in the digital world (Saravanakumar & SuganthaLakshmi, 2012). Subsequently, the marketing department encountered hardships of creating a new brand image to suitable in the new period. The venture is significantly a business to consumer company.
Samsung develops products that are very orienting as they perfectly meet the market demand and comply with the consumer’s preferences. The products possess good quality, and the company keeps embracing the latest trends in technology and introducing new products in the market. Producing quality products gives the company an upper hand in obtaining a tangible market share.
In New York, the US, the company size is estimated to be large, and this implies that it has a significant market share in the area. New York holds forty percent of the State’s population, and thus the company is strategically located as it reaches millions of customers. The median household income in the city is $57782; this implies the potentiality of the individuals surrounding the business location and has somehow attributed to the corporation’s revenues. The location area code is 201, and there is a more significant percentage of high school degrees or higher, which portrays great intelligence rates in the people, and thus they are well-positioned to adopt the latest technology trends (Faheem, Le-Khac, & Kechadi, 2014).
The competitive advantage trait helps the corporation in attaining cost performance gain and cost reduction by producing in large volumes. The capacity to innovate augments the value of their products and thus a competitive benefit for the company.
The demographic data shows the area has a significant number of educated individuals. This implies that the corporation can easily obtain the needed experts in its diverse fields. The area provides a great source of the skilled labor force, which helps the organizations around to get experienced personnel (Faheem, Le-Khac, & Kechadi, 2014). The population also guarantees the company an able market for its innovative devices and appliances as they keep updating to the gadgets so as not to lag behind when it comes to technological advancements.
Social media marketing entails the utilization of social media to reach the target customers and build the organization’s brand, initiate website traffic, and increase sales. To succeed in social media marketing, it needs publishing of captivating content on the venture’s social media pages, listening to and involving the followers, examining the results, and running social medial adverts and promotions (DjatmiNoak & Pradanab, 2016). Currently, the critical social media sites in the contemporary world include YouTube, Twitter, Facebook, LinkedIn, Instagram, Snapchat, and Pinterest. There are numerous social media management tools employed by business experts and managers to utilize the social media opening fully.
Bosses frequently inquire about the essentiality of online advertising; it is ethical to track social media activities and performance. Handling the metrics that matter makes an online advertiser augment the social media advertising policies that trigger the growth of a fan base as well as looking smart at work. Consequently, social media marketing can potentially lead to the growth of a business venture. There are several metrics that can be used to measure social media marketing:
Engagement is the social media metric that gives updates on the number of people interacting with the content posted on social platforms. Engagement can be constituted in numerous forms, such as clicks, comments, saves, likes, and shares. In every social media site, it should display the engagement rate of every single advert. Running several advertisements can help in determining the engagement of a company’s account. If an ad record engagement levels below average, it is recommendable to ditch and change it. Other metrics are social media referrals, social media reach, bounce rate, conversion and conversion rates, cost per conversion, click-through-rate, and amplification rate. The appropriate zipcode recommendation for an additional location for Samsung is 02493, as it is located in one of the most populated States and has readily available skilled labor.
References
DjatmiNoak, T., & Pradanab, R. (2016). Brand image and product price; Its impact for Samsung smartphone purchasing decision. Procedia-Social and Behavioral Sciences, 219, 221-227.
Faheem, M., Le-Khac, N. A., & Kechadi, T. (2014). Smartphone forensic analysis: A case study for obtaining root access of an android samsung s3 device and analyse the image without an expensive commercial tool. Journal of Information Security, 5, 83-90.
Saravanakumar, M., & SuganthaLakshmi, T. (2012). Social media marketing. Life Science Journal, 9(4), 4444-4451.
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