Customer Social Network Affects Marketing Strategy

Question: Discuss about the Customer Social Network Affects Marketing Strategy. Answer: Concepts and processes within marketing Marketing is a concept and a philosophy by which a service or product is presented in an attractive way to the potential customers such that it affects their buying decision positively. In todays competitive world, the concepts of marketing play a pivotal role to stay ahead in competition and achieve a competitive edge (Baker 2014). The concepts and processes of marketing involves mainly production concept, product concept, selling concept, marketing concept, societal marketing concepts. The process of marketing involves the 7Ps of marketing mix. The 7 Ps include the seven essential elements of marketing. These are the product, price, place, promotion, people, process, physical evidences. These are essential since the product is the article that needs to be marketed. The price of the product determines the affordability of the product. The place where the product is sold, determines the sale of the product (Hou et al. 2017). The way the product receives promotion also determines the sale of the product. Moreover, the people also play a key role. The people involve the target customers. Processes refer to the way the product is produced and finally reaches the customers. The physical evidence refers to the evidence of business as well as the presence of establishment of the business. Concepts of brand image are also considered in physical evidence. Importance of marketing in the chosen company The chosen company is Zara. This is a world class fashion brand operating in various countries around the world including Australia. Marketing has been an essential activity for this fashion brand and that has helped Zara to become such a famous brand of clothing and fashion accessories. One of the most important marketing strategies adopted by Zara is the ability to adapt quickly to the changing trend of fashion. Zara has also been passionate towards its customers, and introduces new fashion on demand of their loyal customers. Another essential marketing strategy adopted by Zara is offering latest fashion at an affordable price, thus attracting a large number of customers; Zara also has an efficient distribution system, which delivers the products within a very short period of time, thus promoting home delivery of their products. Along with in store marketing, online marketing and e-commerce is given adequate importance by Zara (Kim et al. 2016). For Zara, marketing plays an importa nt role, and various innovative strategies are launched to promote their products. Change in the perception of marketing The perception of marketing has changed a lot over time. Previously the product was the main focus of marketing and moderation in its price and promotion was the prime focus. However, in the changed perception, customer is given much more importance and feedback from the customers is being incorporated regularly (Zeriti et al. 2014). Moreover, web analytics is being used to track the personalized choices of the customers, and uses the results as a marketing device. Social networking has also gained importance as a media of marketing. Thus, the perception of marketing has changed a lot and improved to promote better sales. References Baker, M.J., 2014.Marketing strategy and management. Palgrave Macmillan. Hou, R., Wu, J. and Du, H.S., 2017. Customer social network affects marketing strategy: A simulation analysis based on competitive diffusion model.Physica A: Statistical Mechanics and its Applications,469, pp.644-653. Kim, S.J., Lee, J.Y. and Lee, K.H., 2016. Global Pricing Strategy of the SPA Brand: Comparison with GDP and Big Mac Index.Fashion Textile Research Journal,18(3), pp.301-316 Zeriti, A., Robson, M.J., Spyropoulou, S. and Leonidou, C.N., 2014. Sustainable export marketing strategy fit and performance.Journal of International Marketing,22(4), pp.44-66.