Social Media as a Professional Tool in Business SCM501 Social Media as a Professional Tool in Business SCM501 2017 Week 9 SM as a professional tool

Where does it fit in the Service Marketing Mix? Recap on the 7 P’s in the marketing mix Product Price Promotion Place/Distribution Processes People Physical Evidence And now the 8th P which seems to have several connotations SCM501 2017 Week 9 SM as a professional tool

What are the Academics calling the 8th P? Personalisation – part of brand Performance and Quality – of service Participation – two way communication and learning Related to CRM Customer Relationship Marketing – Relate, Retain, Recovery Three key jobs in marketing – Repeat, Replete and Referral SCM501 2017 Week 9 SM as a professional tool

Branding The ultimate expression of the augmented product concept. Consider what is uniquely identified in the mind of the consumer. Branding is used to help consumers choose what product and is used to establish competitive marketing positioning. SCM501 2017 Week 9 SM as a professional tool

Four Levels of Branding 1. Attributes: a brand brings certain attributes to mind e.g. Mercedes  2. Benefits: Customers do not buy attributes, they buy benefits. Therefore attributes must be translated into functional and emotional benefits.  3. Values: A brand says something about the buyers values   4. Personality: A brand also projects personality    The challenge of branding is to develop a deep set of meanings for the brand. SCM501 2017 Week 9 SM as a professional tool

What is Social Media’s role in a business? To increase Brand Awareness To increase web traffic and links To improve customer relationships For education purposes – both from the company and the consumer “Naked Marketing” SiteSell (2011) Naked Marketing – where you are not selling but you need to show what you do well and reveal yourself to customers so they understand who you are and where you are wanting to walk beside the customers journey – sharing the experience SCM501 2017 Week 9 SM as a professional tool SCM501 2017 Week 9 SM as a professional tool

Blog Entry and Friday’s lesson Based on class discussion what is your interpretation of the 8th P? How would you describe the relevance of the 8th P to a business owner or team? NOTE: You may need to do some research for Fridays lesson where we will be building our own definition of the 8th P. SCM501 2017 Week 9 SM as a professional tool

Bibliography Bacon, J. (2017). The big debate: Are the ‘4Ps of marketing’ still relevant? Retrieved 12/04/17 from https://www.marketingweek.com/2017/02/09/big-debate-4ps-marketing- still-relevant/ Duczeminski, M (2017). Marketing mix is key to a successful marketing plan. Retrieved 28/09/17 from https://www.fieldboom.com/blog/marketing-mix/ SiteSell.com, (2011). Are you missing the 8th “P” of marketing? Retrieved 22/07/14 from http://blog.sitesell.com/2011/02/the-marketing-mixs-missing-ingredient.html Knowhow Non-Profit, (2017) The product marketing mix. Retrieved 12/05/17 from https://knowhownonprofit.org/campaigns/brand/marketing-1/marketingmix# SCM501 2017 Week 9 SM as a professional tool