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Social Media Strategies of Walmart and Costco - Admission/Application Essay Example

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Social Media Strategies of Walmart and Costco

But for organizations, it is an improvement for their marketing strategies. Social networking sites allow individuals and organizations to interact and know each other. For firms, this is one of the cheapest forms of marketing and advertising. Examples are facebook, twitter, and LinkedIn. Through these websites, people of different cultures are connected. Some websites have unique history. Facebook was founded by Mark Zuckerberg and two of his friends; their primary aim was to connect with fellow Harvard students. Now, almost all kinds of people use facebook or twitter to interact. Organizations use these sites to communicate with their customers. It is an effective form of communication and interaction. For organizations, this is revolutionary and less costly form of marketing. They can improve their products and services and they are able to know their market segment better. Walmart’s account with facebook sounds enjoyable for children and young customers. Through this site, children can communicate with Walmart’s action and complaint department quickly. Costco’s products and services are also displayed at facebook. Costco has the same feel with kids, the way Walmart does. Marketing Marketing involves the promotion and selling of products and services. Philip Kotler (as cited in Laurence & Patel, 2009, p. 51) emphasized the needs and wants of customers in the definition of marketing. The Chartered Institute of Marketing focused on “identifying, anticipating and satisfying the customers” (Laurence & Patel, 2009, p. 51). Marketing involves selling, advertising, packaging, transporting of products. The marketing concept states that an organization should provide products that satisfy the customers’ needs through organizational activities that also help the organization to achieve its goals. (Jobber & Lancaster, 2003, p. 11) Customer satisfaction is a significant aim of the marketing concept. A firm has to find out what satisfies customers. The organization must continue to alter, adapt and develop products to keep pace with customers’ changing desires and preferences. The marketing concept stresses the importance of customers and emphasizes that marketing activities begin and end with the customers. (Jobber & Lancaster, 2003, p. 1) A marketing strategy can be likened to a recipe. The ingredients are the marketing functions. Recipes vary according to the dish, so different marketing strategies require differing blends of functional ingredients. If a minor ingredient is miscalculated or forgotten, a recipe may not be successful. The same is true with marketing strategy where all functional ingredients depend on each other for success. But marketing is not just providing products and services. It is also about delivering changing benefits to the customer’s changing needs. The American Marketing Association defines marketing as a set of activities and processes that focus on the delivery of products for the benefit and value of customers and clients, including all the stakeholders in the interconnected activity of business. (Laurence & Patel, 2009, p. 51) A part of marketing is customer relationship management (CRM) which is about maintaining positive relationships with customers, focusing on customer loyalty and adding value to the relationship. This is where social media marketing comes in. CRM is about marketing and analysis of customer behavior. Chaffey (as cited in King & Burgess, 2007) ...Show more

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Social Media Strategies of Walmart and Costco Introduction The way people and organizations communicate has changed because of new inventions and innovations in technology. The Internet has paved the way for social media which many commentators call the new game…
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Social Media Strategies of Walmart and Costco essay example
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