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Discussion board # 1 Strategic Marketing Management
Initial post: #1
at least 350 words.
Includes an open-ended, thought-provoking question posed to classmates.
Part I: Examine your own personal brand affinity. What name brands do you use? How much loyalty do you have for those brands? How have brand promotional efforts influenced your adoption of and loyalty to your favorite brands?
Part II: Identify a medium-large sized, existing company that you believe conducts effective marketing campaigns reaching their targeted consumer. Explain why you believe they are effective. Include examples of methods they use to promote their products.
Identify a different medium-large sized, existing company that you believe does NOT conduct effective marketing campaigns. Explain why you believe they are not effective. Include examples of methods they use to promote their products. What should they do differently?
In both of your Part II responses, include not both digital and traditional marketing methods. In order to maintain a more robust and interesting discussion forum, identify companies that are not already discussed in fellow classmate’s posts.
Respond to post #1 (Br B)
responses should be at least 200 words.
Part I
Brand affinity on a personal basis is loyalty to store brands. I grew up frugal and to this day patronize the store’s brand over the name brand competitor. Many people have not caught on to the fact that the store’s brand is also manufactured and supplied by the big-named brand competitors. I am very loyal to my store brands and if you read the ingredients, often the same are used in the named brands. Advertising can be effective if you are not stuck on what you like.
People like social media, word of mouth, store end caps, and samples. Those tactics or methods make the promotion of their products effective. “Brand equity, the fundamental value of a brand, is sometimes evaluated as the premium a consumer would pay for a branded product compared to a generic version of the product” (Marshall, G., 2022, p. 264). Brand promotional efforts do not influence my decision-making over purchasing my store brands. I am about the product and how much I can purchase with my dollar. “As marketers continue to spend more and more on sales promotions, it is increasingly important for them to consider and understand how consumers evaluate and respond to these offers as well as what influence the offers have on consumers’ brand attitude” (Gardner, M., 2022, p. 1).
Part II
Walmart is an existing company that I believe conducts effective marketing campaigns. Walmart has a lot of different maneuvers to market products and sales. Walmart is a large company that has reached the point of its name marketing itself to consumers. Walmart is effective because it is known to the consumer and often the promotions are targeted for certain consumers to get their attention and increase sales. An example is the one-stop shop for some people is a promotional attention getter and it seems to be working. Another is everyday low prices. “Multi-product promotions may vary in whether the price reduction is integrated with the price information” (Jia, H., et. al., 2024, p. 2),
A large sized company that does not conduct effective marketing campaigns is Amazon. Think about it Amazon does not market to the consumers and it has not affected its strategy to increase its revenue. While other companies are running ads Amazon does not outside of the once-a-year Prime Day sale, this is why Amazon is not effective.
Amazon does market on its application. Amazon may want to consider marketing to its consumers as the method involved with returns. To become more efficient Amazon should use more effective communication. Utilize paid advertising, and email as a marketing tool. Not allowing the same products to be sold at different prices from different sellers.
Question: Did you grow up on a particular brand and do you refuse as an adult to change?
References
Gardner, M. J. (2022). Deal or no deal: sales promotion influence on consumer evaluation of deal value and brand attitude. Small Business Institute® Journal (SBIJ), 18(2), 18–27. https://doi-org.libraryresources.columbiasouthern.edu/10.53703/001c.68379
Jia, H. (Michael), Huang, Y., Zhang, Q., Shi, Z., & Zhang, K. (2024). Final price neglect in multi-product promotions: How Non-Integrated Price Reductions Promote Higher-Priced Products. Journal of Consumer Research, 50(6), 1097–1116. https://doi-org.libraryresources.columbiasouthern.edu/10.1093/jcr/ucad045
Marshall, G. (2022). Marketing management (4th ed.). McGraw-Hill Higher Education (US). https://online.vitalsource.com/books/9781264155415
Response posts: #2 (Ant B)
Part I
Brand affinity, not to be confused with brand loyalty, is the emotional connection or how we feel about a brand (Hanns, 2019). Brand affinity allows us to purchase goods and services from companies we think share our beliefs (Munsey, 2023). There are many benefits to brand affinity, including building a loyal customer base and increasing sales and brand awareness (Munsey, 2023).
For this reason, when examining my brand affinity, I have to say that I have a connection with several brands, especially those made in the U.S.A. However, for this discussion, I am going with Tide. I have used Tide for many years. This is not to say I haven’t tried others, but if you have been in a natural disaster and you see those orange trucks pull up and open their sides to see washers and dryers appear, you can understand why. This commitment to the community gives me a brand affinity. Also, this is their commitment to sustainability efforts through various initiatives (Loads of Good, n.d.);
Tide in space – research that brings clean innovations back to earth
Loads of hope – laundry services to areas after natural disasters
Eco-friendly packaging
Part II (a)
I would say McDonald's when identifying an existing company with effective marketing campaigns that reach its targeted consumers.
Overview
Over the years, McDonald’s has had some flops, but the company has successfully marketed its products. This is partially due to the global marketing budget of 1.64 million, which covers everything from buzz marketing to social media and commercials (McDonald's 2023 Annual Report, 2023) (Marshall, 2023).
Effective targeted marking campaigns (Pomranz, 2017);
Look for the golden arches! (1960)
Two all-beef patties, special sauce, lettuce, cheese, pickles, onions on a sesame seed bun (1974)
You deserve a break today (1971)
It’s a good time for the great taste of McDonald’s (1984)
I’m Lovin’ It (2003). This campaign was geared towards the younger generation.
McDonald’s has had its fair share of celebrities promoting their products, including Brian Cox (Succession), who has made the quarter-pounder a star (Naillon, 2023). However, he was not the first to be Michael Jordan in 1992.
McDonald’s also has a robust digital marketing strategy that engages customers while driving up sales. Through these initiatives, McDonald’s has also partnered with delivery services, thus expanding into a market that reaches customers, provides convenience, and changes customer preferences (The Evolution of McDonald's Marketing Strategy, 2024).
Part II (b)
I can certainly think of several companies guilty of ineffective marketing, but if I had to identify just one, I’d say Conn’s HomePlus.
Overview
Conn’s HomePlus is one of the few brick-and-mortar furniture stores left, now closing over 170 stores across several. Conn’s has been in business for more than 100 years, something you would not know due to its ineffective, failed marketing. I only knew the store was in our area because I saw it. Before filing bankruptcy in a last-ditch effort, the company launched the campaign “Finance is Not a Bad Word” (Lopez, 2024).
Why was it ineffective?
- The company relies heavily on instore sales and promotions
- Those sales are not advertised on television, social media, or digital platforms
What they can do to save their company through marketing
- Invest in rebranding
- Create ads for
Newspapers
Television
Social media
Direct mail
Thought-provoking question: When considering brand affinity, do you look for brands with social significance in our communities, or is your affinity based on product quality?
References
Hanns, D. (2019, July 13). Brand Affinity vs Brand loyalty. Retrieved from linkedin.com: https://www.linkedin.com/pulse/brand-affinity-vs-loyalty-deon-hanns
Loads of Good. (n.d.). Retrieved from tide.com: https://tide.com/en-us/our-commitment/sustainability
Lopez, V. (2024, August 29). Conn's HomePlus to close 74 Texas locations amidst bankruptcy. Retrieved from mysanantonio.com: https://www.mysanantonio.com/news/local/article/conns-homeplus-closing-texas-19728803.php
Marshall, G. &. (2023). Marketing management. McGraw Hill. Retrieved from https://online.vitalsource.com/#/books/9781264155415
McDonald's 2023 Annual Report. (2023). Retrieved from corporate.mcdonalds.com: https://corporate.mcdonalds.com/content/dam/sites/corp/nfl/pdf/2023%20Annual%20Report_vf.pdf
Munsey, B. A. (2023, August 7). What Is Brand Affinity and How Can You Increase It? Retrieved from indeed.com: https://www.indeed.com/career-advice/career-development/brand-affinity
Naillon, B. (2023, May 13). The Most Savory McDonald's Marketing Campaigns Of All Time. Retrieved from mashed.com: https://www.mashed.com/913312/what-the-mcdonalds-of-the-future-may-be-like/
Pomranz, M. (2017, June 22). The 5 Best and Worst Slogans in McDonald's History. Retrieved from foodandwine.com: https://www.foodandwine.com/news/5-best-and-worst-slogans-mcdonald-s-history
The Evolution of Mcdonald's Marketing Strategy. (2024, February 29). Retrieved from blog.osum.com: https://blog.osum.com/mcdonald-s-marketing-strategy/#:~:text=McDonald%E2%80%99s%2C%20a%20global%20fast-food%20restaurant%20company%2C%20has%20implemented,Meals%20and%20kids%E2%80%99%20marketing%2C%20and%20digital%20marketing%20initiatives.
Initial post: #1
at least 350 words.
Includes an open-ended, thought-provoking question posed to classmates.
Describe a new business venture or entrepreneurial opportunity that you have thought of or recently heard about. Then, evaluate and choose a competitive strategy to compete in the market (i.e., pioneer, imitate, adapt, differentiate, cost leadership, and focus), and provide your rationale for why this is the path to competitive advantage and innovation.
Then, choose a peer post, and discuss key challenges you foresee based upon their venture/entrepreneurial idea and chosen strategy.
Response posts: #1 (DRU)
An emerging business model that has the capacity of revolutionizing how small and medium business (SMBs) approach the management of their EHS concerns is a fractional safety share company. This innovative concept would give SMBs the possibility of having highly qualified EHS people, including safety, legal, environment, and industrial hygienists with a subscription-service model. By using the on-demand service model similar to Yellow Bird where the client and the EHS professional are matched for projects, there could be opportunity of creating a niche for this venture and also bring innovation on the market.
The fractional safety share company would prove helpful for SMBs that might not afford to hire full-time EHS experts. By subscribing to the service, these businesses would have access to personnel who can help in policy advice on EHS issues or compliance with the law or undertake an evaluation of the risks involved or even prevent mishaps (Cagno et al., 2016). This shared resource model helps the SMBs to leverage from experienced professionals without having to adopt a full EHS department which is costly (Lamm et al. , 2017).
Considering the concept of Yellow Bird’s on-demand service model, using an imitate strategy for this new venture would be a proper course of action. Yellow Bird has also captured the essence of employing services of EHS specialists on individual project basis, a way by which any business can acquire the necessary specialist’s services at the required time (Yellow Bird, 2021). Following Yellow Bird’s employed strategy to a T and applying a subscription-based business model, the focal fractional safety share company can mitigate the risk associated with the inception of a novel concept and capitalize on the marketing indicators that are available to fast-tracked the capturing of market share (Shenkar, 2010).
Furthermore, the imitate strategy provide an opportunity for the company to establish relevance and adaptability to the identified competitors and SMBs by offering a new, novel value proposition proposal exclusive to SMBs (Leitner & Güldenberg, 2010). Thus, by targeting this particular segment and offering a unique service that could alleviate the clients’ fears, the fractional safety share company can become a reliable and trusted supplier and develop long-term cooperation with the clients (Sharma & Tewari, 2018). In this differentiation, cost advantages of the subscription model, competencies of the personnel, as well as opportunities to gain on-demand access make the company stand out from the competitors in the market.
Utilizing an on-demand service similar to Yellow Bird, and subsequently offering distinction by targeting SMBs and offering a subscription service, this new venture can bring more competition and originality into this market. This means that engaging a subscription model and on-demand access to highly qualified EHS professionals would go a long way into providing cost-effective and flexible solution for SMBs and their overall EHS necessities, thus leading to safer and more sustainable businesses.
References:
Cagno, E., Micheli, G. J. L., Jacinto, C., & Masi, D. (2016). An interpretive model of occupational safety performance for small- and medium-sized enterprises. International Journal of Industrial Ergonomics, 44, 60-74. https://doi.org/10.1016/j.ergon.2014.08.002
Lamm, F., Massey, C., & Perry, M. (2017). Is there a link between workplace health and safety and firm performance and productivity? New Zealand Journal of Employment Relations, 32(1), 72-86. https://www.nzjournal.org/NZJER32(1).pdf#page=74
Legg, S. J., Olsen, K. B., Laird, I. S., & Hasle, P. (2015). Managing safety in small and medium enterprises. Safety Science, 71, 189-196. https://doi.org/10.1016/j.ssci.2014.11.007
Leitner, K. H., & Güldenberg, S. (2010). Generic strategies and firm performance in SMEs: A longitudinal study of Austrian SMEs. Small Business Economics, 35(2), 169-189. https://doi.org/10.1007/s11187-009-9239-x
Sharma, S., & Tewari, R. (2018). Engaging SMEs for inclusive growth: An analysis of CSR models and approaches. Journal of Entrepreneurship and Innovation in Emerging Economies, 4(2), 172-188. https://doi.org/10.1177/2393957518778475
Shenkar, O. (2010). Copycats: How smart companies use imitation to gain a strategic edge. Strategic Direction, 26(10), 3-5. https://doi.org/10.1108/02580541011080474
Yellow Bird. (2021). About Us. https://www.yellowbirdinc.com/about-us/
Response posts: #2 (Ja Ju)
Starting an occupational safety and health consulting business is the entrepreneurial venture this essay will discuss. In today's environment where workplace safety regulations are becoming increasingly stringent, and organizations are more aware of the need to protect their employees. The demand for expert guidance on complying with Occupational Safety and Health Administration (OSHA) standards, implementing effective safety programs, and mitigating workplace hazards is growing across various industries.
To establish a strong market position and achieve competitive advantage, I would choose a differentiation strategy for the safety consulting business. Differentiation involves offering unique services or a distinct value proposition that sets the business apart from competitors (Østergaard, 2019). By focusing on niche areas within safety consulting, such as chemical hazard assessments, process safety management, or ergonomic evaluations, the business can cater to specific industries with specialized needs. This expertise can attract clients seeking consultants with deep knowledge and tailored solutions rather than generic safety advice.
Offering cutting-edge safety technologies, such as wearable devices for monitoring worker health, advanced risk assessment software, or AI-driven predictive analytics, can further differentiate the business (Chelliah & Georges, 2015). Clients are increasingly looking for innovative approaches that go beyond compliance and actively enhance safety performance. Developing personalized safety programs that align with the unique operations and culture of each client can build strong, long-term relationships. This customized approach can include on-site training, tailored safety audits, and continuous support, which adds significant value compared to one-size-fits-all consulting services.
Building a brand known for excellence and innovation in safety consulting can lead to a strong reputation in the market. Positive word-of-mouth, industry recognition, and client testimonials can become powerful tools for attracting new business (Moore, 2017). With differentiation, the business can justify premium pricing (Østergaard, 2019). Clients are often willing to pay more for specialized expertise and services that deliver tangible improvements in safety outcomes, which can lead to higher profit margins.
The differentiation strategy aligns with the goal of competitive advantage by creating a clear and compelling reason for clients to choose this consulting business over others. It emphasizes innovation not only in the services offered but also in how those services are delivered. By continually adapting to emerging safety challenges and leveraging new technologies, the business can maintain its unique position in the market and drive ongoing growth.
References
Chelliah, J., & Georges, S. (2015). Consulting firm identity: the online effort to differentiate and compete. Journal of Business Strategy, 36(6), 47-53.
Moore, R. A. (2017). Consulting in Entrepreneurship Essential Foundations for Consultants. In Management Consulting Today and Tomorrow (pp. 423-436). Routledge.
Østergaard, A. (2019). The beneficial differentiation within entrepreneurship of self-employed, business owner and entrepreneur. Industry and Higher Education, 33(1), 18-29.
