MKTG400: Branding Week 5 Assignment
For the assignment this week you will use your own business idea, an identified need of a product or service in your community or an existing business idea and will prepare a 3 – 5 page essay on a business concept using diagram 6.2 on page 170 of “Brand Relevance,” using as many of the perspectives as necessary and applicable to your chosen idea. This assignment must be in APA format. The assignment should be submitted to the weekly assignment folder.
MKTG400: Branding Week 5 Assignment
Social media management for an organization is one of my online business ideas. As the social media manager, I have to develop strategies, analyze user data, and produce good content for an organization. Most importantly, facilitating customer services and managing projects and campaigns is crucial for any organization. It promotes the brand name and quality of products and services offered in the organization. This paper utilizes the diagram on business concepts provided on page 170 of “Brand Relevance.” It will explore several perspectives necessary and applicable to my chosen idea of social media management
Customer-articulated unmet needs as a business concept address the capability of customers to articulate some unmet needs if provided with an opportunity. Accessing this information and getting customers to detect and communicate unmet needs is crucial for social media management. Aaker (2011) addressed several questions such as what is frustrating them, the user experiences that emerged in their offering, and the comparison of experiences of competing categories and subcategories. It is worth mentioning that these questions play well in addressing many changes that an organization experiences (Antunes, 2021). The preventive measures when interacting with customers are distinguished between the limitations of category and subcategory and the dissatisfaction from brands that fail to live up to their promise. Talking to customers informally is one direct approach when dealing with customers. Also, looking for customers who have needs that stretch the boundaries of current offerings is another approach. For example, some customers value privacy and enjoy the organization’s services. The method can help in attracting more customers who value privacy.
Observation as a business concept can help promote innovation in my social media organization. Here, I will observe the customers and other random people who utilize the social media pages for the organization to get their needs. According to Aker (2011), making a list of what bugs you and others are evident from observing yourself, family and friends. As a social media manager, I can develop software to help customers keep track of the products, services offered and finances spent. Aaker (2011) reiterates on taking observation to the next level. Also, finding new or unintended applications is a crucial business concept that helps gauge how customers use a given offering. Some of the customers can use the offerings differently than intended. Social media management requires flexibility as some core groups might have similar needs (s) and others might not. Aaker (2011) suggests that ethnographic research can illuminate applications that the organization can discover by providing customers with a means such as a research tool for communicating how they are using a product or service. Being curious and connected to customers helps in social media management.
Furthermore, customer partnering in concept generation is a crucial business concept that aligns with social media management. Aaker (2011) argued that customers could help develop breakthrough ideas beyond identifying needs and proposing solutions that one can transfer to offerings. Using the internet to engage in a dialogue is one of the effective ways of accessing customers for a given organization. For example, I can develop a website where customers can post their ideas and observations about offered products and services. Also, noncustomer needs are a business concept that is crucial for an organization. Customers are good at identifying unmet needs as they have experienced the category and subcategory. Aaker (2011) mentioned that the noncustomers have untapped potential, and they represent virgin territory which is a new source of growth. As a social media manager, I will analyze what holds the noncustomers back from not reaching the organization and enjoying various products and services. I will identify the barriers that make most noncustomers not recognize an organization and the products and services they offer. I will scrutinize whether the organization’s media platforms are complex, expensive, or advanced for their needs.
Market trends as a business concept are crucial for my social media management idea. Aaker (2011) suggest that customer trend can be a driver of a category or a subcategory. Most importantly, assessing the white space around the trend for new markets benefits an organization. Accessing several trends helps boost the brand name for an organization and attracts awareness to a large number of audiences, which will create barriers to competitors. Organizations and firms can fail to recognize the emerging market trends and predict future events (Medjani, Rutter, & Nadeau 2019). As a social media manager, I will create a solid organizational reputation and reach out to various media platforms to detect and leverage different trends by creating discovery mechanisms.
Open innovation plays a critical role in making connections among disparate perspectives or sources as a business concept. As a social media manager, I should recognize that ideas found in people within and outside the firm of an organization represent a considerable addition to the creative efforts of the firm. As a social media manager, it is my responsibility to understand these ideas and help communicate the firm’s developments concerning the products and services it offers. In other words, I will create an outside perspective targeting potential customers and other noncustomers concerning the organization’s products and services.
Aaker, D. A. (2011). Brand relevance: Making competitors irrelevant. John Wiley & Sons. Retrieved from https://pdfroom.com/books/brand-relevance-making-competitors-irrelevant/QY6g7wZMgeV
Antunes, A. C. (2021). The role of social media influencers on the consumer decision-making process. In Analyzing global social media consumption (pp. 138-154). IGI Global. Retrieved from https://www.igi-global.com/chapter/the-role-of-social-media-influencers-on-the-consumer-decision-making-process/264936
Medjani, F., Rutter, R., & Nadeau, J. (2019). Social media management, objectification, and measurement in an emerging market. International Journal of Business and Emerging Markets, 11(3), 288-311. Retrieved from https://www.inderscienceonline.com/doi/abs/10.1504/IJBEM.2019.102654