New Age Marketing

New Age Marketing

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Institution

Introduction

Market segmentation for Colgate Palmolive

Colgate Palmolive has established itself as one of the largest manufacturers of toothpaste. It has undoubtedly used market segmentation in an effort to reach varied segments of its wide market, as well as cement and increase its market share. Since its establishment, the company has come up with varied toothpastes and toothbrushes targeting consumers with varied oral health priorities and problems. Indeed, they continue introducing new and improved products all in an effort to reach and meet the needs of different consumers. Four categories may be used in segmenting its market.

Demographic Segmentation

This underlines the market segmentation that is based on varied demographic factors including social class, gender and age groups among others. The company’s products have been targeting different age groups, selling its products to kids and adults. Indeed, adults may have varied products based on their needs including tooth-sensitivity toothpastes, tooth whiteners, or even products for individuals with gum issues. Kids’ products, on the other hand, are divided into varied age groups including 0-2, 2-5, 5-8, as well as 8-12. Fluoride-free toothpaste targets kids below two years of age, while transitional toothpastes targets children between the age of 8 and 12 in an effort to transition them into adult tastes.

Geographic segmentation

This segmentation is based on factors such as climatic conditions, population factors, region and urban conditions. This appears outright for a company like Colgate, which has a current reach of more than 200 countries all over the world. Underlining the importance of the international market to the company is the fact that three-quarters of its sales emanate from the international markets. However, different products are marketed in different countries. United States, for instance, has only 16 varieties of Colgate’s products, while the United Kingdom has a total of 22 varieties.

Behavioral Segmentation

This segmentation is based considerably more focused and is based on the behavioral patterns that consumers exhibit in making purchasing decisions (Keller & Kotler, 2009). This may explain its differentiated products where it groups its customers on the basis of their needs. For example, it has toothbrushes and toothpaste meant for decreasing sensitivity for customers with sensitive teeth, as well as toothpaste with whitening formula for individuals with brown teeth. A large number of their products are within the same price range, in which case price is not much of a factor. However, they also have products targeting individuals who travel a lot or who may want to brush their teeth while on the move.

Psychographic Segmentation

Companies undertake psychographic segmentation when they market their products on the basis of the customers’ values, personal traits, and lifestyles (Keller & Kotler, 2009). In Colgate’s case, this may be seen with regard to its marketing of the Wisp toothbrush, which primarily targeted individuals that brush while on the move. These are toothbrushes that already incorporate toothpaste, and were usually marketed to busy urbanites between in their 20s, as well as travelers and office workers.

It is worth noting that the company primarily segments its markets according to the behaviors of the customers, as well as demographically. This is an extremely effective strategy that the company should continue undertaking. Indeed, it should desist from focusing on the psychographic segmentation too much as the personal traits of an individual have little effect on the oral care brand that they choose. On the same note, it is imperative that it specifically segment its markets based on the price of its products. Low income neighborhoods would undoubtedly be concerned about the price of the products, in which case this would be a platform for competition.

Crowdsourcing campaign for Lay’s

Crowdsourcing refers to the technique or process where a job that is traditionally done by designated agents is outsourced to undefined and, usually, large group of people in an open call. This is one of the ways in which companies tap into the potential and power that lies with the crowd. This was the case for Lay’s “Do Us a Flavor” contest, where consumers are asked to come up with the newest potato chip recipes, with the recipes being submitted via a Facebook application on the company’s page (McNaughton, 2013). Three flavors would be chosen by the judging panel made up of flavor experts, chefs and foodies, with Facebook fans voting for a flavor via an “I’d Eat That Button” (McNaughton, 2013). The winning flavor would attract a $1 million dollar prize or 1% of the net sales of the chip in 2013, whichever is higher. Crowdsourcing presents a win/win situation as the consumers would have an opportunity to participate and have their voices heard (and get some money for it), while the company gets new ideas, as well as enthusiastic followers (McNaughton, 2013).

PPC for a Home Renovation Company (Long Island Home Renovation)

Undertaking a review if the content or category under which the company falls

This company falls under repairs and constructions, in which case the keywords would have to be related to home constructions, home improvement and home repairs.

Developing the account structure.

The initial keywords and content would be grouped into high-level content blocks or themes, which are used the basis for the campaign structure. Content themes would include bathroom renovations, home renovation, kitchen renovations, home improvement contractors, home renovation guide, and finishing basement among others.

Keyword generation and grouping

This would involve a determination of related terms, misspellings, keyword variations and synonyms that potential clients would use in searching for home renovation services. Terms such as repair, construction, modeling, and renovations may be used interchangeably.

On completion of keyword generation, the groupings should be divided into narrow listings of “ad groups”. A content word like bathroom renovations, for instance, would have “ad groups” such as retiling shower, bathroom sink installation, bathroom upgrade, modern bathroom renovation, replacing bathroom cabinets, and redoing bathroom.

Match-typing

Every keyword would be assigned a match type defining the rules around which queries for the company’s ads will be shown. In this case, the ads for the company will be assigned a narrower match type of “phrase match” so as to limit the chances of the ad popping up for searches on “companies to avoid”.

Creating ad copy

Every ad group will have an ad running at any time with the ad copy being as relevant as possible to the keywords. Action verbs would be used alongside specials, benefits of the service from the company, and the terms “limited time offer” so as to encourage the clients to click.

Creating the landing page

This would include a reference page incorporating detailed information pertaining to the offers and including keywords and phrases that were in the advert. On the same note, an action page would be incorporated so as to motivate the visitor to go on with the transaction process underlined in the PPC process.

Tracking, measuring, testing, analyzing and optimizing the keywords.

Track tags would allow for the analysis of the conversion rates of every keywords, in which case emphasis would be laid on keywords with the best conversion rates. Networks and landing pages and content would also be tested to determine the most effective ones in converting

Commercial Ads

Pepsi Beyoncé “Mirrors” – Official 2013 video, retrieved from HYPERLINK “http://www.youtube.com/watch?v=_2smYVl0zrk” http://www.youtube.com/watch?v=_2smYVl0zrk

This video makes up an advert for Pepsi, a carbonated drink that mainly targets middle class. It is a carbonated drink that is available in either cans or bottles (glass or plastic). In the case of the advert, the carbonated beverage comes in a blue can. The company has used influencer marketing where it has used a celebrity (Beyonce Knowles) so as to drive the sales through her influence as a celebrity singer. In this case, the company has identified Knowles as an individual with influence on potential buyers and oriented its marketing activities around her.

Old Spice Shower Commercial, retrieved from HYPERLINK “http://www.youtube.com/watch?v=1Hfr2OtU2rA” http://www.youtube.com/watch?v=1Hfr2OtU2rA

This commercial is aimed at driving the sales for Old Spice bathing soap. It features an individual who continues showering through the traffic, to his workplace and even over dinner. In essence, it targets the urban people who are particularly busy and always on the move, in which case it insinuates that the individuals would still be masculine and fresh irrespective of the kind of work or activity in which they are engaged.

Developing social network sites and campaign strategies for Colgate Palmolive.

Social media has become an incredible marketing tool for numerous companies, thanks to its wide reach and popularity in the contemporary times. However, gaining the benefits pertaining to social webs necessitates that institutional social networks establish sustainable communities that consistently expand their reach. This would mean much more than establishing a page in Facebook or any other social site.

First, it is imperative that a strategy is established. This would involve defining the key audiences, as well as assessing their levels of participation and social media readiness. The more specific Colgate Palmolive is in defining its target audiences the higher the likelihood that the network would engage their common needs and interests.

Second, a powerful network would be established on user-generated content. The fundamental function of every social networking site is to present user-generated content. This should be in line with the likes and preferences of the client with regard to technology and expectations as to usability. On the same note, the content on Colgate Palmolive’s online campaign would be designed to elicit some reaction from the customers. This involves the incorporation of features such as sharing and comment section so as to allow for conversations with the clients, thereby driving traffic to and from the blogs and social networking sites. On the same note, it is imperative that consideration is made on the type and amount of institutional content that would be allowed on the platforms and shared with the users. This would prevent misuse of the information and allow the company to be proactive just in case the information is used against it.

Third, the network content for Colgate Palmolive would be given a foundational identity. This involves defining the form of the content that will be incorporated and is especially aimed at making the social site unique in the features that it incorporates. This is especially considering that it would be competing with other social networking sites that are already established, in which case incorporating features that are not found in the other sites would be imperative.

Fourth, the network’s power would be multiplied by allowing interconnectivity with other platforms. This involves integration of the broadcast tools such as videos and RSS feeds in a multipronged approach so as to give users various techniques for creating, posting, and sharing content via mini-applications, updates, alerts, icons and news feeds, thereby increasing traffic.

Lastly, the power of Colgate Palmolive’s network would be measured. Users would be empowered to spread the word on the company’s products through member posting on message boards and blogs, among other platforms. This involves development of content that enhances trust, thereby making them passionate advocates and believers in the community and for the brand.

Recovering from online mistakes or negative customer comments.

The reputation of a business comes in handy as far as enhancing the strength of a brand is concerned. Needless to say, brands have become extremely fragile in the recent times thanks to the entry of the internet and social media. These tools have provided consumers with a platform on which they can rant and discuss about their experiences with the products and services of different companies. In essence, the reputation of a company can be injured immensely within a short time, especially considering that these platforms are accessed by numerous people at any given time (Keller & Kotler, 2009). This was the case for dell, whose pathetic customer car was the subject for online debate to such an extent that its ratings and reputation were badly injured. Nevertheless, different strategies may be used to recover from negative customer comments through online reputation management, which makes use of digital means to examine and analyze the reputation of a brand online, as well as engage in digital conversation in an effort to influence its reputation and obtain strategic insights that would guide the business in its decision-making. This is aimed at enhancing the experience of the stakeholders, which would result in brand loyalty, trust, as well as sustainable business growth.

First, it is imperative that the company addresses the complaint as soon as possible. This would send the message that the company cares about their business and would like the clients to return. On the same note, it comes in handy in reducing the rate at which negative reviews show up online. This is especially considering that customers often go to review sites and social media outlets to express any frustrations pertaining to negative customer experience. In addition, it is imperative that the entire team is trained on resolution of bad experiences. As much as customers may request to address the manager, the limited possibilities of reaching the managers may result in further frustrations (Keller & Kotler, 2009). However, equipping all team members with resolution strategies would come in handy in resolving issues quickly before they escalate.

Second, examining the root of their complaint would be imperative. In most cases, customers will rant about numerous issues some of which may not touch directly on the company. Root causes may include overcharge, poor customer service, missed appointment windows, or poor product quality (Keller & Kotler, 2009). Offering a blanket response for all complaints may be inappropriate as the issue usually lies on the specifics.

Third, taking responsibility for the customers’ experiences would be imperative. Blaming the customer would only upset the customers more. In essence, it is imperative that the company identifies the areas where it could have done better or its role in the experiences of the customer and offers a heartfelt apology. This would come in handy in ameliorating any animosity that the clients may have, as well as eliminating the possibility of negative reviews. However, this should be followed by a tangible resolution, which may include complimentary service package or future products, refunds or discounts.

Fourth, negative reviews should be knocked off the first page of the search engines by incorporating new links and pages that market the company’s products (Keller & Kotler, 2009). News articles with optimized key words that promote the product should be written on a regular basis in numerous blogs so as to drive the pages with negative reviews from the first page of search engines.

Differences between Web PR and traditional PR

Public Relations has been an extremely crucial aspect as far as the profitability and sustainability of a business is concerned. It refers to a collection technical, supervisory and management functions that aims at promoting the capacity of a business entity to strategically appreciate, listen to and respond to entities and individuals whose mutually beneficial relationships with the business entity are necessary for the achievement of its values and missions. Needless to say, the public relations has undergone a metamorphosis especially with the entry of the internet (Keller & Kotler, 2009). Indeed, the internet in general and social media has introduced an entirely new way of undertaking public relations. This is web PR, which is quite different from the traditional PR.

Traditional PR focuses on the image of the company, as well as crafted news releases. It offers a regulated release of information, as well as a process of communication that is dependent on journalists and conventional media such as newspapers. This is different from web PR, which is primarily uses the internet and connects with customers using varied online channels such as article directories, news articles, blogs, forums, social media, online newsrooms and industry related sites among other things (Keller & Kotler, 2009).

In addition, traditional PR is rigid in its engagement with its audience. It mainly underlines a one-way communication where the journalists or the newspapers pass the message to the audience. Web PR, on the other hand, comes off as more flexible in its engagement with the audience (or potential customers) as it focuses on generating active relationships, as well as actively engaging its constituents and customers to undertake a real conversation. The business entity and the audience would, therefore, discuss the issues at hand like real people albeit virtually.

Collecting market data for Colgate Palmolive

The collection of customer and employee data offers valuable insight into the market especially as concerning their opinions and needs. This would benefit the company, not only with regard to feedback opportunities but also assisting in coming up with new market opportunities for Colgate’s customers. Market surveys enhance the knowledge of the company on the market conditions thereby allowing them to capitalize on it and determine the most appropriate time for launching new products. In the case of Colgate Palmolive, personal interviews and web-based surveys, as well as surveys by telephone would be used in collecting the data. This may be accomplished using Dub InterViewer, a data collection tool that allows corporate entities to launch telephone field and web studies, and design questionnaires that would allow for the collection of valuable market research data, which would provide insights into the industry or market.

HYPERLINK “http://www.google.co.ke/url?sa=t&rct=j&q=&esrc=s&source=web&cd=3&cad=rja&ved=0CD4QFjAC&url=http%3A%2F%2Fwww.psu.edu%2Fpresident%2Fpia%2Finnovation%2Finsights014.pdf&ei=bv0KUujAO8TuswaGj4CIDA&usg=AFQjCNHLM0ccSMCxeh8VjQ8VqYC1D4TMEw&sig2=33-ybRReuOn2G4LqYpdnXg&bvm=bv.50723672,d.Yms” http://www.google.co.ke/url?sa=t&rct=j&q=&esrc=s&source=web&cd=3&cad=rja&ved=0CD4QFjAC&url=http%3A%2F%2Fwww.psu.edu%2Fpresident%2Fpia%2Finnovation%2Finsights014.pdf&ei=bv0KUujAO8TuswaGj4CIDA&usg=AFQjCNHLM0ccSMCxeh8VjQ8VqYC1D4TMEw&sig2=33-ybRReuOn2G4LqYpdnXg&bvm=bv.50723672,d.Yms

9. Compare and contrast Ebay, Craigslist, and Amazon. How would you compare this to selling on your own site. Where would you decide to sell your product or service?

EBay, Craigslist and Amazon are some of the largest ecommerce companies accounting for volumes of sales. However, these companies are similar and different in varied ways.

These companies differ as far as final value fees (FVF) and listing fees are concerned. Craigslist does not have any FVF or listing fees. Amazon also does not come with listing fees but may have FVF subject to the category of the item. DVDs and books have low FVF while electronics have high FVF. eBay comes with an insertion fee based on the items initial listing price with the FVF being calculated on the item’s final selling price.

EBay and Craigslist are similar in that they act as intermediaries or middlemen. They never take inventory, rather they are intermediaries that enhance peer-to-peer commerce. This is different from Amazon, which, in fact, holds inventories. EBay and Craigslist get money from sending traffic from their sites, with eBay adding to the money from PayPal transactions.

However, all sites offer some form of protection with Craigslist being the safest as they never come into contact with the items or the money. Nevertheless, eBay trails Amazon especially considering its PayPal requirement where numerous feuds emerge between sellers and buyers pertaining to payments from unconfirmed address.

Of course, it would be preferable to sell from one’s own site as it comes with a direct control as to the pace of the transaction and safety of funds. However, considering the scale, advanced technology, convenience and efficiency with which the three sites come, it would be preferable to list items in them especially on Amazon.

References

Colgate World of Care. Retrieved 13th August 2013 from HYPERLINK “http://www.colgate.com” http://www.colgate.com .

Keller, K.L. and Kotler, P. (4th Ed.). (2009). A framework for marketing management. New Jersey: Pearson Prentice Hall.

McNaughton, M (2013). Facebook Contest: Lay’s Uses Crowdsourcing to Find New Flavor. The Real-time Report. Retrieved 13th August 2013 from HYPERLINK “http://therealtimereport.com/2012/07/19/facebook-contest-lays-uses-crowdsourcing-to-find-new-flavor/” http://therealtimereport.com/2012/07/19/facebook-contest-lays-uses-crowdsourcing-to-find-new-flavor/