SOCIAL NETWORK IN MARKETING

Social Network in Marketing

Introduction1

Background1

Current marketing strategies of Trader Joe2

Environmental factors that have created the market for Trader Joe's and its impact on the future of the market for the company3

Analysis of Trader Joe's marketing strategy with respect to social media4

Proposed Social Media Marketing strategies for Trader Joe5

Conducting Research5

Clearly identify the audience5

The identification of the requirements6

The Assessment of the requirements6

Analyzing the ways to fulfill requirements6

Identify Competitors7

Defining the goals7

Developing the Strategic Advertizing Message and Method:7

Social Media and Website Conversation8

The purpose of the conversation8

Searching8

Evaluate the Results of the social media marketing strategy8

Future Work9

Assessment and measures9

Strategies to design promotional activities for the Social Media Marketing9

Old Customers with Old Products10

Old Customers with New Products10

The New Customer to Old Product10

New Customers to New Products10

Goals and Expectations of the Social Network marketing strategies11

Business Goal Social Media Option12

The important factors about the Social Networks13

There are several elements of social media that can be utilized in the Trader Joe's marketing strategy.13

Social Networking Websites13

Personal Publishing13

The Micro-Messaging13

The Discussion forums and Spaces:13

The tools of Viral Marketing14

References15

Social Network in Marketing

Introduction

The emerging globalisation and technological advances have rapidly increased the challenges of the competition as the customer requirements are frequently changing. The social media networking plays the most significant role in the globalization. Hence, it is also used as the tool for commercialization and marketing. Several companies have increased their position from a small to medium-sized businesses and many have emerged as large organisations because of their capability of creating and exploiting innovation (Allocca & Kessler, 2006, p.2). The industrialists need to be crucial in creativity and exploitation when it is about innovation because the global business and productive capacity depends on it (Kozmetzky et al., 2004, p.2). The policy-makers and marketers have identified the dramatic growth in businesses because of the support and ways to foster the business environments through technology (Audretsch 2004). In this context the social networking websites are recognized as the facilitating technology, predominantly increasing the commercialization (Fetterhoff & Voelkel, 2006, p.2; Jolly, 1997; Andrew & Sirkin 2003). Even the small firms can utilize the social networking technologies with increasingly high level of external competencies, information, and knowledge. The social networking websites accelerate the commercialisation with reduced costs and risks (Slowinski et al. 2009; Chesbrough, 2003). Social networks provide innovation in infrastructure of regional customers (Galbraith et al., 2008). The regional contributions for the innovation in the underlying technology, Infrastructure, availability, and inter-organisational relationships provide the competitive advantage (Feldman, 1994).

Background

In the modern world of social networking communication, the marketing and commercialization is not only used to enhance the productivity but, also enables the development of new products. There are some firms that are still not utilizing social networking websites to market their products such as the Trader Joe, which is grocery chain or store. The company has a website to display its items, products, wine and recipes. But it is obvious that the company does not use any social websites for its advertising and marketing or does not have an official account for marketing activities on ...