Entry 5b

Big data is just an empty business term, as empty as business intelligence. Of course, that’s not to say big data doesn’t make sense, it just means different things to different people.

Big data is a way to obtain original data from multiple different data sources, store the data for use by the analysis program, and use the original data to obtain value from the data in a new way.

It is said that every Internet company should be able to find a “” magic number” “and run around it. For example, Uber, they found that when a driver takes more than 25 orders, they don’t lose them, so they set 25 as the magic number. After the new driver picks up 13 orders, it will try to remind him that you have completed 50% of the mission. Come on!

Big data has another meaning for consumers or Internet users. Big data is to collect as much privacy as possible related to the end consumer and then market it. In theory, by collecting user behaviors, big data companies can better understand the needs of consumers and enhance user experience. But in practice, these smart recommendations are still at a very early stage, so someone will search Google for a used car sale, and there will be a lot of information about selling cars in the face book’s marketplace.

Another example: American Express Co. and business intelligence. Hindsight reporting and trailing indicators can only take a business so far, AmEx realized. “Traditional BI [business intelligence] hindsight-oriented reporting and trailing indicators aren’t moving the needle on the business,” Laney said. So AmEx started looking for indicators that could really predict loyalty and developed sophisticated predictive models to analyze historical transactions and 115 variables to forecast potential churn. The company believes it can now identify 24% of Australian accounts that will close within the next four months.

Big data is a naturally evolving approach to the vast amount of data generated by today’s applications. The amount, speed, and variety of data received by today’s enterprises means that being able to solve these problems can only be a consistent and continuously evolving solution.

In other words, it’s the way we use software and create data to drive the development of big data. Big data will exist unless we change the way we use software (such as applications), platforms (such as social media) and core infrastructure technologies (such as the Internet). An example: ditch Snapchat? LinkedIn? Facebook? Twitter? It’s impossible.

 

 

 

Reference:

Margaret Rouse, Big data, Whatls.com, https://searchdatamanagement.techtarget.com/definition/big-data

Nicole Laskowski, Ten big data case studies in a nutshell, https://searchcio.techtarget.com/opinion/Ten-big-data-case-studies-in-a-nutshell

Tim Harford, March 28, 2014. Big data: are we making a big mistake?  https://www.ft.com/content/21a6e7d8-b479-11e3-a09a-00144feabdc0

 

Entry 5a

According to a new report from HubSpot, the amount of time global consumers spends on social media, which provides a wealth of data on market strategy, has risen by 250% in the past two years.

In the early stage of marketing strategy formulation, the brand learns about the target market status, defines target consumers and produces portraits of typical customers through market research, which is basic knowledge for marketers. Media consumers are more mobile, digital and social. Consumers face a variety of new media and platforms, and their communication and consumption patterns are constantly changing. Social media analysis provides real-time data on consumers’ social media usage habits, social content and the motivations behind it.

Today, we can find many successful cases, brands through the media marketing, the low-cost way to ignite brand communication. More and more brands, from twitter and WeChat to LinkedIn, live streaming platforms, Facebook and Instagram, have set up their own accounts on these social platforms and become brand standard.Content marketing on social media is also on the rise, with 63% of retailers investing in the sector.

Build social media content

• For starters, I recommend creating content that fits to his brand’s identity. That means he needs a full strategy.
• One of the biggest challenges with visual content is creating it on a daily basis.
• It’s necessary to find the perfect balance between target content and being overly promotional as well. 46% of users said they would remove their focus on the brand if there was too much promotion information.
• 90% of online shoppers, including me, believe that product videos can help them make purchasing decisions. In addition, 37% of viewers watch online video from start to finish. Brands can attract users through Instagram Stories, Facebook Live and other fashion media.

Entry 4b

e-CRM is electronic customer relationship management. Electronic CRM (E-CRM) is the integration of the WEB approach into the CRM strategy of this enterprise. The goal is to unify channels related to sales, CSS, and marketing innovation to achieve seamless customer relationships, maximize customer satisfaction, loyalty, and revenue. E-CRM is part of CRM and e-commerce and includes WEB-based customer channels such as e-sales, e-services, e-marketing and e-retail.

Today I would like talk about my favorite TV show-Produce 101. It is the first Chinese idol female group competition in Tencent video production to form a reality show. The program includes 43 brokerage companies in the Chinese language circle. The trainee company has a total of 101 trainees, which lasted for more than 4 months. In the time of closed training and recording, 11 people were selected by the national ballot to form the new idol group “Rocket Girl 101”.

The voting for this program is called “likes”, and there are four channels of Tencent video doki, microblogging star power list, oppo community and Tencent microvision. Fans can check the number of votes of people they like every day on the official website.

The voting for this program is called “likes”, and there are four channels of Tencent video doki, microblogging star power list, oppo community and Tencent microvision. Fans can check the number of votes of people they like every day on the official website.

In the opinion of (Smith and Chaffey 2005, 259) there is nothing new since good marketers have been taking care of their customers for many decades now. In the previous TV shows, whether it was a singer or a model or a speech contest, we used to have a model in which the audience looked below. The judges scored on the stage. Now the audience is scored, and the audience and fans are voted. In the past, customers were managed, and now the rights are placed in the hands of customers to increase customer initiative.

 

Reference:

Daminni Grover, effective customer relationship management through e-CRM.

Electronic customer relationship management, https://www.techopedia.com/definition/30914/electronic-customer-relationship-management-e-crm

Produce 101, https://baike.baidu.com/item/创造101/22435864

Entry 4a

“Marketing mix” is a common phrase used to describe the choices an organization must make in bringing a product or service to market. The 4Ps is one way – probably the best-known way – of defining the marketing mix, and was first expressed in 1960 by E. J. McCarthy.

4p price theory analyzes enterprise products from four aspects: product, price, place and promotion. In the complex and changing marketing environment, consider various factors as much as possible, analyze the relationship between each factor, and make Interrelated marketing programs. Therefore, 4p provides a theoretical basis for companies to develop appropriate marketing solutions.

If a marketing mix includes the right product, the right price, the right distribution strategy, and the right promotional strategy, then this will be a successful marketing mix, and the company’s marketing goals can be achieved.

However, in the era of high Internetization, this environment has completely changed, the information advantage of merchants has disappeared, and the asymmetry has been broken. Under this environment, consumers can already grasp more product information, price information, and enterprises. The relationship with consumers has changed. In the past, the traditional position of enterprises has weakened, and the weak position of consumers is strengthening.

Three of the 4ps of the traditional marketing mix — product, channel and promotion — have been completely electronic and non-materialized as they have got rid of dependence on the traditional material carrier. So, as far as knowledge products are concerned, the products, channels and promotions in network marketing are purely electronic information. The dividing line between them has become so blurred that they are inseparable. The price is no longer based on the cost of production, but on the value of the product that the customer is aware of. Customers’ choice of products and estimation of value are greatly influenced by online promotion, so the role of online promotion is highly valued. Because the customer has high knowledge generally, high quality, high income and so on characteristic. Therefore, the knowledge and information content of online promotion is much higher than traditional promotion.

 

Reference:

McCarthy, J., 1960, Basic Marketing: A managerial Apporach, Richard D. Irwin, Homewood, IL

The four Ps of marketing, Purely Branded, https://www.purelybranded.com/insights/the-four-ps-of-marketing/

Mind Tools content team, The marketing mix and the 4Ps of marketing, understanding how to position your market offering, https://www.mindtools.com/pages/article/newSTR_94.htm

Entry 3b

Setting long-term strategic objectives for a website is unrealistic since the rate of change in the marketplace is so rapid.

How to balance the long-term goals and short-term goals of the company (or long-term and short-term profits) sounds philosophical, strategic, and virtual. In fact, it is almost what managers do every day.

In a business, every entrepreneur looking into the future and likely envision growing it and turning a profit. These are the long-term goals, So, what do you do in the meantime? In order to reach those long-term goals of success, you must first build a marketing plan and establish short-term business and marketing goals.The short-term goals of an enterprise are executable and have the advantage of flexibility. If a short-term goal doesn’t work, the site can change or adjust your strategy, try new things and see more results.

Short-term marketing activities are activities that temporarily boost business and traffic. Short-term success is critical to any business. Whether you’re a startup looking for capital or a company looking to launch a new product or service successfully, short-term success is a necessary condition for long-term growth. Most of the website’s revenue comes from advertising. PPC (Pay-per-click) is a good tactic to achieve for short term marketing, Pay-per-click campaigns are another way to become visible to new customers. Effective implementation of PPC campaigns are known to drive significant targeted traffic to your website. Be sure to run the numbers and make sure that you understand the break-even point so that you do not bid more per click than you expect to profit.

 

Reference：

Wes Towers in Web Design, June 30,2010, How to refine your website goals and objectives, <https://www.omnificdesign.com.au/website-goals-and-objectives/>.viewed 8 September 2018

ThriveHive, May 9, 2016，Short Term Business and Marketing Goals， <https://thrivehive.com/short-term-business-and-marketing-goals/>viewed 8 September 2018

Kevin Johnston. Difference between strategy & long-term objectives, <https://smallbusiness.chron.com/difference-between-strategic-longterm-objectives-36475.html> viewed 8 September 2018

August 26, 2015 what are your short and long ter marketing strategies? <https://www.launch-marketing.com/articles/what-are-your-short-and-long-term-marketing-strategies/>viewed 8 September 2018