Virtual Community Impact on Social Media - Coursework Example

CURRENT ISSUES IN MARKETING Name Lecturer Date Virtual Community Impact on social media. The current trends that have led to the increased usage of the blogs as a medium of product promotion has been reflected in the increased rise in business markets and commensurate rise in the number of consumers with preference to the aforementioned product. Major companies have resorted to this medium due to the increased number of online users thus the need to tap the increasing numbers and transform them into potential customers (Wymer & Marshment, 2012). However, there are no major regulatory measures that put into account the responses and post by individuals concerning their perception towards a product or a service that is being promoted online. This therefore present a loop through which the online medium can be manipulated in favor or the advertising company or to its disadvantage by the competing firms. The perception of the online users play a key role in determining whether the objective of advertisement to a business company is met or not achieved. This follows the realization by the advertising firms of the negative comments the users of their products or the opinion of the general public including those who have never had an experience with the product. The negative comments thy leave would be used as the ideal information by the users who could serve as potential consumers of the product. The solution to this is the creation of a virtual business community including deal between companies dealing in both similar products and those dealing in completely different products. This is more of a shield to both the companies that are assured of mutual accommodation as a means of influencing the larger community of online users. This strengthens the virtual groups who are also able to share ideas and shield the loops that might be used to the disadvantage of the individual companies (Munge, 2007). This would also to an extent have a broad base of users and the group that is well acquainted with the product thus bale top blog for the advertising company and stand in their defense. Literature Review The interpersonal ties that exists between companies and their interested partners has led to creation of an environment that is able to influence the consumer perception towards the product (Harris & Mongiello, 2006). Numerous tags about a product attracts more first time users or people with little knowledge of the product thus the company is therefore able to make more profit through their online sale. (Hunt, 1991) follows that the consumers are more aligned to the opinion of the other users with regarding their experience rather than the opinion of the advertising company that is mostly considered as a luring strategy to get more customers purchasing a product. Key points and impacts for the Australian businesses As much as online usage has been on the rise and the bets medium therefore to advertise a company’s product, the Australian business managers should be cautious enough of the negative mined individuals who would work against them by presenting their businesses negatively. There is therefore a need for the Australian businesses to embrace the need for networks of bloggers to assist different businesses advertise their products and that would translate to commensurate returns from the sales. Works Cited Munge, B. (2007). A study of Australian employers' perceptions of graduates from the Bachelor of Arts (Outdoor Education) at La Trobe University. Wymer, W. W., & Lees-Marshment, J. (2012). Current issues in political marketing. London: Routledge. Articles Reviewed Harris, P. J., & Mongiello, M. (2006). Accounting and financial management: Developments in the international hospitality industry. Amsterdam: Elsevier/Butterworth-Heinemann. Hunt, S. D. (1991). Modern marketing theory: Critical issues in the philosophy of marketing science. Cincinnati, OH: South-Western Pub. Co. Customer insight and strategies in online advertisement A major objective that each company strive to achieve is their ability to have a personal touch with their customers and attend to their diverse needs as by having the customers their bosses. This is in conjunction with the effects it has created that have mostly led to growth of businesses. Most customers would want to be attended to depending on their specifications thus associate more to such kind of a business compared to the other businesses dealing ion the same product but without a proper customer care department. Online advertisement deprives the customers such opportunities thus the businesses are not able to maintain the deep customer insight. The companies that do online sales and marketing are therefore tasked with a responsibility of re-specifying their products to convenience the customers (Hunt, 1991). This problem becomes more evident in orientating the customers to the product that comes with creation of awareness until the usage part. It would involve more data in terms of photos, videos among others in order to fully satisfy the consumer needs. The consumers therefore are not appropriately orientated on the product and lacks the insight. Literature review The need to follow customers’ paths through the process of purchasing a product is critical to a company. (Selvanathan, 2007)This commence with the awareness, providing the customer with an opportunity to compare and contrast the different options available, to the time that the customers decides whether to buy the product or not. Without this, the customer would be misled and this dissatisfaction could be spread to other users who might not have had the same experience. A company that relates the process of product acquisition and records these information are comparatively better placed in terms of sales and profits as compared their competitors as they are able to adjust the steps that could have resulted into high number of customer dissatisfaction. This is possible with a one on one sale that is best done on a one-on-one business with the customer (Australia, 1965). In this regard, for an interpersonal contacts with the customers, online advertisement needs to be readjusted to accommodate elements of the traditional sales methods that permitted on-spot demonstration of the product usage and the customer opinion or queries could be responded to instantly. Impacts on the Australian Businesses The current analysis if used presents the Australian businesses that do not have an identity with their customers following the lack of inclusion of the customer response in the subsequent sales. Australian business needs to re-specify their online sold products in order to maintain the much needed customer satisfaction. This would put them at a position higher than their competitors who depend entirely on the current means of online advertisement. Embracing the customer insight helps would assist the business create and retain a broad base of loyalist customers compared to the ones that exist online. The impact of entire social media usage would limit the company data of the existing loyal customers as the businesses would not be able to track an individual customer satisfaction level. Works Cited Hunt, S. D. (1991). Modern marketing theory: Critical issues in the philosophy of marketing science. Cincinnati, OH: South-Western Pub. Co. Articles Reviewed Australia. (1965). Report relating to an advertisement in "The Canberra times" and other Australian newspapers on 18th August, 1965, together with minutes of proceedings of the Committee. Canberra: Govt. Pr. Selvanathan, E. A. (2007). Australian business statistics. South Melbourne: Thomson. Creativity and Innovativeness of the business personnel staff Online blogs is experienced as a tool that has been created and left to serve its function. With the computer application and the programming, online sales operates with a specified instruction thus performs the specific instruction fed. The managers and the sales persons have not a duty to offer into the play of the online advertisement. Once fed into the system, the product or the service would achieve its objective without too much involvement of the sales persons and the managers concerned. It would be sagacious for the sales personnel to develop their skills through the ideas learnt in the field (Munge, 2007). They would then critically implement this idea and achieve their desired objective. They are also bale to come up with learn skills of how to manage technical issues through the experience they have learnt from the field and implement their measures to rectify the situation present. This art is not available with the online marketing thus there is no operation and thinking outside the norm. This therefore concerns the managers as they have to make decisions on facts without the need to build facts from scattered information. The creativity part of the business application is brought about by the ability of the managers and the sales agents to involve inputs from the fields including both the external and the internal ideas and the feedbacks gathered from various fields in ensuring the information is put into appropriate usage. In an event of a major shortcoming into the whole sales process, the personnel within the sales department need to brainstorm and develop a quick remedy that would be used prevent future occurrences. This results creates new ideas that could propel the business company forward. With the online usage, the business is more likely to function like a robot without any adjustments and the experiences that could seek for the attention of the managers neither is it capable of necessitating creativity. Literature Review (Hunt, 1991)Invention, Innovation and creativity are key in a business organization. They are the cornerstone that determines the future of the business. It present with the ability of the managers to device ways of shielding the loopholes that might jeopardize the operation of the business. It embraces operations out of the normal daily operations that might limit the scope of the business operation. Creativity learnt form the field sharpens an individual’s ability to tackle various form of challenges (Harris & Mongiello, 2006). Without it, an individual is more likely to be carried away by the occurrences without constituting measures to curb such flops. Impact on the Australian Government The Australian business need to be built on new ideas and skills that would permit expansion of the businesses and advancement into new markets of operation. The online marketing would have a negative impact in their propensity to grow and gain more market for their products. The managers will not be able to be up to the tasks that lie on their ability to devise measures to tackle a particular challenge (Munge, 2007). The Australian businesses are therefore likely to lose their managers’ ability to be creative and inventive that would propel their growth if they embrace the online blogs entirely. Works Cited Munge, B. (2007). A study of Australian employers' perceptions of graduates from the Bachelor of Arts (Outdoor Education) at La Trobe University. Selvanathan, E. A. (2007). Australian business statistics. South Melbourne: Thomson. Articles Reviewed Harris, P. J., & Mongiello, M. (2006). Accounting and financial management: Developments in the international hospitality industry. Amsterdam: Elsevier/Butterworth-Heinemann. Hunt, S. D. (1991). Modern marketing theory: Critical issues in the philosophy of marketing science. Cincinnati, OH: South-Western Pub. Co. Variation in the prices Through studies conducted, it has been realized that various companies offer different prices to their online and offline products. This is a move used by the companies owing to the ignorant consumers who do not take their time to confirm the actual price for the same product when being sold offline. Some companies exploit customers through price increment by a slight change in the trade brand of the product just to make it look different yet it’s the same product that is being sold at hiked prices. This has been followed by some studies that have indicated that after thorough scrutiny of the product prices by interested agencies, there have been significant reduction in the online prices while no cases of offline price reduction recorded so far (Selvanathan, 2007). In this regard. The customers are therefore more likely to look for other companies offering the same product and might end up being their permanent customer. This would significantly reduce the number of the customers affiliated to the concerned business. This could also translate to the blogging by the dissatisfied customers that could reduce the numbers of new customers to the business. This moves once realized changes the customer perception resulting into negative attitude to the product of the concerned company that could compel the company to change their name in order to avoid the sabotage by the customers. Literature Review Pricing plays a key role in the development of customer trust. Among the factors that determine whether a particular customer would purchase a product or not depend on the pricing relative to the standard pricing and the pricing of the local competing firms. If a business outrageously lower their prices, more customers would move towards purchasing their products, a factor that would create a shift in the customer loyalty. (Esser et al, 2016)The opposite would also apply as the companies that hike their prices are more likely to face the wrath of the dissatisfied customers. (Australia, 1965)Online pricing does not provide a room for negotiation on the prices and with the little knowledge the new customers have, they are more likely to be manipulated by the unscrupulous companies as a move to have the customers spend due to lack of information or an oppressive move. Implication in Australia For the Australian companies, online marketing should not be used to deceive the customers as this would limit the number of customers who are aligned to the company. As such, the online usage compared to the offline sales would change the perception of the customers both online and offline thus reducing the profits and the sales for the company. As a tool that would be used in the Australian businesses to lure the new customers, with the realization of the actual price, a major decrease in the sales of these companies would be witnessed together with the loss of the loyal customers (Smith, 1997). There is therefore a need to have a measure in place that regulate the individual prices of the businesses in the Australia to reduce the cases of customer manipulation in terms of the prices as it would also work against the defiant companies. Works Cited Selvanathan, E. A. (2007). Australian business statistics. South Melbourne: Thomson. Smith, B. (1997). Star Hill apartments advertisement, Wellington Street, East Perth, March 1997. Articles Reviewed Australia. (1965). Report relating to an advertisement in "The Canberra times" and other Australian newspapers on 18th August, 1965, together with minutes of proceedings of the Committee. Canberra: Govt. Pr. Esser, H. J., Herre, E. A., Blüthgen, N., Loaiza, J. R., Bermúdez, S. E., & Jansen, P. A. (2016). Host specificity in a diverse Neotropical tick community: an assessment using quantitative network analysis and host phylogeny. Parasites & Vectors, 9(1). doi:10.1186/s13071-016-1655-6 Read More