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Monthly Archives: February 2011

IMA 504 Social Paper

The term Social refers to a characteristic of living organisms which can interactive with each other. In contemporary society, “social” has more widely meanings. In my opinion, different areas have their different social. In my business there are two social groups which I should take care of them. One is consumer which can pay us to get the services and products, and the other one is provider which can provide the products to us. The way how should connect with them will result in our business to be profitable or not.

Product

The products we sell are mainly machinery. Shan & Son Machinery Trade Co., Ltd. has more than ten years experience of doing export and import business with machinery and tools. Our export products are mainly in the following fields: Machine tools, Drill press, Wood working machines, Metal-cutting machines, Air compressor, Generator, Air tools, Power tools, Measuring & cutting tools, Shoe making machine. The product offering is a solution for the problem which social have a genuine problem. The role of research here is to discover the consumers’ perceptions of the problem and the products, and we should determine how to take action against the problem. What the social wanted is what we should sell.

Price

“Price” refers to what the consumer must pay in order to obtain the product. In export and import business, there are too many elements will affect the price, such exchange rate, policy, raw material price and so on. And this is the hardest part for business man to control, because we have many issues to consider. If the product is priced too low, the consumer may perceive it as being low in quality. On the other hand, if the price is too high, we will lose some consumers. As a successful business man must balance these considerations to win the business. These perceptions of costs and benefits can be determined through research and then used in setting the price of the product.

Place

“Place” describes the way that the product reaches the consumer. After customer make the order, we will help to find the appropriate shipping company and arrange to ship the orders as soon as possible. During transportation, it is our responsibility to track the orders and contact with customers in order to let them know where their orders are. The more satisfaction we can win from customers, the more business opportunities we will get.

Promotion

Promotion consists of the integrated use of advertising, public relations, promotions, media advocacy, personal selling and entertainment vehicles. This element will help us to let the social know us and the products. At the first beginning of running my company website, I would use social media platform as my main way to promote.

There are more than 80% major American advertising clients are using Facebook to promote. We can see that U.S. businesses and customers are beginning to accept social networking websites as a mainstream advertising platform. Facebook ads are very useful tool to promote company’s website, Facebook Page. Facebook Ads offer a specific ad type to what we want to drive traffic to. In research, I found that there are 17,660 persons who work in U.S. and their job is related about machinery trade. And there are two type ads I can choose to advertise.

  • CPC: Choose CPC(cost per click) advertising when our goal is to have people click through to our website or other destination. With CPC advertising, we can control the actual cost to drive each person to our site. Suggested bid price $1.49. If our Daily Budget is $50.00, that will drive and allow 33 users to our website or Facebook page. For monthly(30 days), it will cost $1500.00 and users will increase  to 990 users.
  • CPM: Choose CPM (cost per thousand impressions) advertising when our goal is to increase brand, product or service awareness. Suggested bid price $0.64. If our Daily Budget is $50.00, that will allow 78,125 to impress like or dislike. For monthly(30 days), it will cost $1500.00 and impression will increase to 2,343,750.

Twitter is a social networking and microblogging service that people can answer the question by sending short text messages to friends. People can open up their circle of contacts to an ever-growing community. Twitter has many uses for both personal and business. Besides Twitter is also a good platform to broadcast the company’s latest products, news and blog posts. In order to make more new customers and let them know the company well. We can use Twitter to quickly share information with people interested in our company, gather real-time market intelligence and feed back and build relationships with customers. In twitter we can also find relevant social to follow.

After we finish our account, we can paste the Twitter badge on our website in order to let people follow us on Twitter. East way to create and then paste. (choose button-enter username-copy& paste the code)

Partnership

Business issues are often so complex that one agency can make a dent by itself. From doing trading business for a long time, the company has built a good relationship with the partners. There are 24 abroad partners and 242 domestic partners. Because of that it has proved that we can get the cheapest price with the same quality product.

Policy

In business issues, it is difficult to sustain unless the environment they’re in supports that change for the long run. Often policy change is needed. So we should catch up the latest policy in order to make the relative marketing program.

Each element of the marketing mix should be taken into consideration as the program is developed.

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Posted by on February 9, 2011 in Uncategorized