Homework No 1

Why is social media an important part of an organization’s marketing strategy?

Every company dealing with products next to other providers and competitors has to create a striking and efficient marketing-mix to stand it's ground. Therefor you have to consider which products should be offered to whom, where they should be provided to which price and how you have to offer your products. In short you have to perform the for "P's" Product, Place, Promotion and Price.

Especially when you achieve a fast, cheap and intensive communication with your target group social media can turn out to be a big advantage and an important part of an organization's marketing strategy. Since a lot of people are integrated to the world wide web it is easier to define and to reach your target group faster than in times of an "internet-free" world. Furthermore it is possible to reduce costs of offering your products by promoting them among social networks. By using social media's data and information you can target your customers more precisly and intensive to keep your products and your image in the customers' minds. Finally, in my opinion, one of the most important advantages of social media is that once you promote your product among social networks it is nearly impossible to stop spreading your product's image among the customers. Assumed your product is favored and "inimitable" you just have to place your product online in social networks and your customers themselves will take over the job of spreading the product among social media by their communication with other social media users.


Why is it important to market yourself?

To promote your products on the market it is necessary to build up your own corporate identity. Customers have to know who promotes and sells the products, which they buy. Marketing yourself in social networks gives you the opportunity to let people know who you are and what your intentions for dealing on the market look like. Besides that it is a way to differentiate from your competitors and to show customers why they are better up with your products. To stay in your customers minds it is important to build a brand, which could be linked to your corporate image kept in the customers' heads.


 How can you build your brand online?

Every company's business is to keep its brand in the minds of the customers. By using the internet this achievement can be fulfilled much more easier. So to build up a brand online one has to be present at every place, at which ones potential customers are, too. So in my opinion building a brand online contains blogs and homepages, at which you can publish your products and images. Furthermore you can gain customer's attention by investing in online-merchandising like creating little pop-ups or sponsoring via the internet. Finally starting accounts and profiles among social networks (facebook, twitter, ...) helps you to exchange information with your customers and target group. There are different ways to be present as a brand on the internet.