The Modern Marketing Concept Competitive Advantage Marketing Essay

The Modern merchandise Concept Competitive contact merchandiseing EssayThe 21est century saw an excellent outburst of IT covering subsumeing medias with a power to penetrate the market on a prominent scale. The obvious reason for this advancement in networking techniques reduction in per capita cost for network setup. The ever expanding IT site cluster took the world into its arms flock soon began capturing the sideeffects side advantages of this new shining do chief(prenominal) which was attracting penetrating the ball club at a such larger scale. The awake marketer definitely would bid to use this platform to widespread his sells get along with the tunes of tomorrow which certainly demands using IT as tool of trade.Before accepting any new media as a tool in a art scenario is important to simulate the beat of it study it beforehand before applicatory implementation so as to avoid potential revenue losses which arise if the new strategy fails. The paper aims to pu t forth versatile molds of social networking websites in meet of market dynamics. The new age marketing his highly vibrant phenomenon requires a risk analysis as well. In view of this threat is essential to carry out to belowstand the meter reading of using social networking as a marketing tool. Its a moldinessiness as a backup strategy of a firm.Marketing must be understood not in the old wiz of devising a sale selling but in the new sense of satisfying customer needs. This does not mean that selling and advertising argon unimportant. Rather, it promoter that they are part of a larger marketing amalgamate a set of marketing tools that work together to affect the marketplace. Marketing can be defined as a nodal and managerial growth by which individuals and groups obtain what they need and want through creating and exchanging products and value with others To exempt this definition, we examine the fol humbleding important terms needs, -wants and demands products valu e and satisfactionexchange, proceedings and relationships and Figure shows that these core marketing concepts are linked,Under the marketing concept, companies gain warlike advantage by designing offers that satisfy target-consumer needs discontinue than competitors offers. They might deliver more customer value by fling consumers lower prices than competitors for similar products and services, or by providing more benefits that justify higher(prenominal)(prenominal) prices. Marketing strategies must consider the strategies of competitors as well as the needs of target consumers. The first step is competitor analysis the process of identifying lynchpin competitors assessing their objectives, strengths and weaknesses, strategies and reaction patterns and use uping which competitors to attack or avoid. The second step is developing agonistical strategies that strongly position the company against competitors and give the company the strongest possible competitive advantage. The diagram attempts to present the Marketing its functional relationships with competitive advantageAs vivid in model diagram below , the there main reasons for attracting web job for the websites categorised under this model are genuineness of data , subject independent of search free acess. These factors amounts to the traffic put forward the probability of sales. In this model, its essentially the information which attracts the potential customers towards the social networking website. E.g. The extend source enclopedies like Twiki, Wetpaint , Wikipedia2. Utility driven modelIts includes the or so touristed websites which attracts the youth due to utility of easy connecting these websites offer. They have highest penetration although the low no. Of clicks per link per minute. However, since the traffic is high , the net amount of traffic diverted towards the marketing application is high. The model includes websites like Facebook , Orkut , Twitter etc3.Bookmark manduction mode lThis model encapsulates the idea of search ,store manage the bookmarks of online available resources. This social classify of websites are still in developing state due to the profound complicates therein such as use of informal vocabularies ,complex system dynamics, e-mail difficulty in validation of data management. Sites like Digg, Reddit fall under this category.The Marketing MixThe core strategy of the firmTHE MARKTTING PULL OF BOOKMARKING WEBSITES4. Media sacramental manduction positionIt includes craze amongst the market to share their common interests passions via popular mediums like video or photos. These websites contribute to high volumes of traffic has advantage of higher retention rate. The obvious reason being will to exercise the consummation of being run. The marketing model of these websites can be by-line manner.TARGETTINGWebsites as like Youtube, Picasa , Flicker etc. Fall under this category5. kind Interaction poseBlogs are the social platforms been s etup by several(a) service providers in order to simulate the sharing expression of feelings. The Google is or so popular medium of blogging via its its Patented blogger. Google also carries our its Ad sense line of merchandise via blogs then attracting the consumer towards the product lines. The social interaction model drives its energy from following parameters which inheritate the marketing functions as indicated in the modelling diagram. Sites likes blogger,wordpress are included in this model type.6.Professional networking modelEach individual in the society is a professional in his own way to earn his bread butter. This model uses this concept so as to build up a twine of individuals in the society sharing common interest linking them up with each(prenominal) other for the utility of each other.The High Hierarchy is cream class of the society which is practically beyond the reach of Base hierarchy on personal interaction basis. However, the sites offer warm affectionate means to connect them establish a relationship of mutual benefit. Here lies the punch of this model the sole reason to attract the traffic for marketing utilityChapter3 porters beers homunculus of Five ForcesThe model is a framework designed by Porter in 1979 till date considered as single of the best means to analyse the business threats especially of a new marketing slew been set up.Ch4Qualitative Analysis of Ning.com via Porters Model of 5 forceNing.com is one of the most popular websites of social networking promotes building of Personal Professional Hubs The Model highlights following facts above social networking websites from analysis point of view.1) The business through via social networking is technology dependant technology accelerated.2) The risk of new entrants is real high as the competitor has the option of exercising his powers publically.3) In view costing, the high risk element prohibits to high spending of advertising revenues in this websites. Infact the targ eting is better achieved when low fee websites are attacked in high volumes of advertisement. This is most significant conclusion obtained from Porters five forces model.The 7 C Framework Model of Social Networking websitesThe 7 C model gives a framework to analyse social networking website using defined parameters as indicated in the diagram below.Chapter 4The following list encompasses a cluster of most useful websites ,systematically analysed by Jane Copland semonz.org The paper includes this list a comprehensive guideline for marketers to help to select their marketing platformSource How to Leverage Web 2.0 Social Media Sites to Market Your Brand Control YourMessage by Jane Coupland. SEOMOZ.org.Referances1) Markeeting management by Phillip Kotler2) Google.com3) Stretegic IT instruction execution by Steve Moorie4)Browsing knowledge of Social Websites by Sk Pillai