Introduction to Marketing

Developing Leadership Strategies for the 21st century marketing environment

Who Are Leaders and What Is Leadership?Leader - Someone who can influence others and who has managerial authority.Leadership - What leaders do; the process of influencing a group to achieve goals.Ideally, all managers should be leaders.Seven Traits Associated withLeadership

Contemporary Views of LeadershipTransactional LeadershipLeaders who guide or motivate their followers in the direction of established goals by clarifying role and task requirements.Transformational LeadershipLeaders who inspire followers to transcend their own self-interests for the good of the organization by clarifying role and task requirements.

Charismatic LeadershipAn enthusiastic, self-confident leader whose personality and actions influence people to behave in certain ways.Characteristics of charismatic leaders:Have a visionAre able to articulate the visionAre willing to take risks to achieve the visionAre sensitive to the environment and follower needsExhibit behaviors that are out of the ordinaryVisionary LeadershipA leader who creates and articulates a realistic, credible, and attractive vision of the future that improves upon the present situation.Visionary leaders have the ability to:Explain the vision to othersExpress the vision not just verbally but through behaviorExtend or apply the vision to different leadership contexts

Cross-Cultural Leadership

Managing TeamsGroup DevelopmentForming stage - the first stage of group development in which people join the group and then define the groups purpose, structure, and leadershipStorming stage - the second stage of group development, characterized by intragroup conflictNorming stage - the third stage of group development, characterized by close relationships and cohesiveness.Performing stage - the fourth stage of group development when the group is fully functional and works on group task.Adjourning - the final stage of group development for temporary groups during which group members are concerned with wrapping up activities rather than task performance.

Group structureRole - behavior patterns expected of someone occupying a given position in a social unit.

Norms - standards or expectations that are accepted and shared by a groups members.

Groupthink - when a group exerts extensive pressure on an individual to align his or her opinion with that of others.

Status - a prestige grading, position, or rank within a group.

Social loafing - the tendency for individuals to expend less effort when working collectively than when working individually.

Group cohesiveness - the degree to which group members are attracted to one another and share the groups goals.

Digital MarketingWhat is digitalProcess definitionFinding the best way of achieving goals, normally promoting a brand or service, through electronic connected media. This could be online on the web, through specialist Internet applications, or through mobile phone applications (both network and Bluetooth connections).

Digital consultancy can also tie into traditional media outlets, either astraditional first (bringing an audience into a digital campaign), or traditional last (by using an existing digital audience as contentgenerators).Digital can also be used to extend the process into a companys/brands inner workings; improving the supply chain, gainingdirect consumer or business insight through greater transparency and movement of the underlying data.

13Role - behavior patterns expected of someone occupying a given position in a social unit.Norms - standards or expectations that are accepted and shared by a groups members.Groupthink - when a group exerts extensive pressure on an individual to align his or her opinion with that of others.

Digital Strategy The process of specifying an organization's vision, goals, opportunities and initiatives in order to maximize the business benefits of digital initiatives to the organization. In the fields of strategic management, marketing strategy and business strategy, digital strategy is the process of specifying an organization's vision, goals, opportunities and initiatives in order to maximize the business benefits of digital initiatives to the organization. These can range from an enterprise focus, which considers the broader opportunities and risks that digital potentially creates (e.g., changes in the publishing industry) and often includes customer intelligence, collaboration, new product/market exploration, sales and service optimization, enterprise technology architectures and processes, innovation and governance; to more marketing and customer-focused efforts such as web sites, mobile, eCommerce, social, site and search engine optimization, and advertisin15Building a Digital Strategy Actualization

Each of these stages runs into the next to deliver a coherent digital campaign. Combined, they deliver an ongoing digital strategyas the audience and brand perception evolves.16

17PlanningPresence: Measure of the brands social footprintInfluence: Branded message adoptionPerception: Emotional reaction to the brandVirility: People organically participating in conversationsResonance: Reaction to the overall conversation about the brand

CreationFormulate the right message: After you have assessed your current position and taken stock of consumer sentiment and perception, its time to formulate your message.

Choose the right platform:During the creation phase, youll decide what platforms and technology makes sense to leverage in your digital strategy. It's important to consider your audience, both in terms of age, geographic location, and lifestyleWhen formulating your message ask yourself: 1. What is the story telling my target customer?2. Why does my target customer care about this story? 3. What sort of emotions does my story evoke? 4. How does my story connect to the emotional needs of my target customer? 5. How will that story incite action on behalf of my brand, product, and service?

Choose right plat formAs your target consumer base varies, technologies and social networks you utilize to reach them will vary, too. Lets say that youre a retailer and based on your research and planning, youve discovered that YouTube, Facebook, Instagram, and a variety of social retail oriented platforms such as Pinterest or Fancy will help your reach your brands target audience. Youve also discovered that more than one third of the activity surrounding your brand is based on your target consumers mobile behavior. Youd want to define the experience that consumers will have with your brands products by channel, across multiple platforms, based on their behavior patterns. To do this, you must ask yourself:1. How do my customers seek information about my product, service, or brand?2. What social platforms do they favor? 3. Whats the purpose of the social platforms and technology weve chosen to use?4. How do these mediums play into our mobile strategy? 5. What is going to differentiate me from my competitors? Creating key performance indicators (KPIs) by channel, across platforms, is extremely important during this phase. In order to be able to estimate your brands expected return per channel whether it is awareness, engagement or online sales is extremely important as well. That said, be realistic in your expectations.

19Actualization Build an Engagement Timeline: Create a calendar that shows your brands marketing efforts across the channels you are leveraging in your marketing programs. Use it for benchmarks related to your digital strategy.

Consistency is Key: Keep your brand story and maintain the brand message across all channels so that current and future customers can connect with your company on a deeper level.

In order to be successful, youre going to have to be consistent and realistic. By creating a consistent presence across major platforms, youll ensure that youre on track to meet the KPIs you set for yourself in the development phases. Consistent execution includes the following steps20EvaluationUtilize social listening tools to get insights into Campaign performance, variances in brand health, and language cues that are indicative of purchase intent and overall brand performance.

Eg:Speed fast,Radian 6,Tweet reach

E commerce

Is a type of industry where The buying and selling of products or services is conducted over electronic systems such as the Internet and other computer networks. Electronic commerce Draws on technologies such as mobile commerce

Social Media

A group of Internet-based applications that build on the ideological and technological foundations of Web 2.0, and that allow the creation and exchange of user-generated content.Andreas Kaplan and Michael HaenleinSocial media depend on mobile and web-based technologies to create highly interactive platforms through which individuals and communities share, co-create, discuss, and modify user-generated content