Big Data

What is big data?

Big data has been around for some time but people still quite confuse about what exactly meaning of it. This concept includes artificial intelligence, data science and the Internet of Things which continually evolving and being reconsidered, because it is still the driving force behind many ongoing digital transformation waves. Big data describes the large volume of data including unstructured and structured which requires a different method to process and use for massive parallelism on readily-available hardware.

Industry analyst Doug Laney gave the definition of big data which is the three Vs: Volume, Velocity and Variety.

Volume

Organizations collect data from different sources like business transactions. Storing these data was a tough question in the past, however the new technologies can easily to gather data.

Velocity

Data has changed rapidly at present, thus data need to deal with on time to avoid outmoded. RFID tags and smart metering are helping the data to deal with in near- real time.

Variety

There are numerous data dividend in structured like traditional database and unstructured like email, video etc.

How does Big Data work?

Big data sources is from three categories: Streaming data which reaches the IT systems, Social media data specially on marketing, sales and support functions and Publicly available sources. After identify all the sources of data, you need to make some decisions like store and manage data, which kind of data you would analyse and which would not, how to use your analyse to the strategy. Final step is research the technologies which would assist you to gather big data and do the analyse. You may consider the cost, speed and other factors.

The principle of big data works is the more you know the things or situations, the more reliable to get predict and decision-making. Comparing different data can help us to find out something was hidden which refer to a more wise decision. According to the new technology development, we can analyse more information which can not be found in the past.

Who uses big data?

There are many different industry will use big data. Banking, education, government, health care, manufacturing and retail will all use big data in their day-to-day work. Big data has permeate human’s life and take a significant position.

In conclusion, big data describe a large volume of data gathering from variety sources. Different industry can use big data to analyse and make a better decision. Along with the development of new technologies, big data will evolution and become more vital in human’s life.

 

Reference

Bernard Marr (2018). What Is Big Data? A Super Simple Explanation For Everyone. [Online] Available at: https://www.bernardmarr.com/default.asp?contentID=766

crossing-technologies.com. Big Data Analytics. [Image] Available at: http://crossing-technologies.com/big-data-analytics/

clairvoyantsoft.com. Big Data & Analytics.[Image] Available at: http://clairvoyantsoft.com/services/big-data-analytics/

Ryan Kh (2018). 5 Innovative Ways Small Companies Can Collect Big Data. [Image] Available at: https://www.smartdatacollective.com/5-innovative-ways-small-companies-can-collect-big-data/

sas.com. Big Data What it is and why it matters. [Online] Available at: https://www.sas.com/en_us/insights/big-data/what-is-big-data.html

techopedia.com. Big Data. [Online] Available at: https://www.techopedia.com/definition/27745/big-data

 

Social media marketing strategies for sporting gear online store

 

Today’s blog I will outline some social media marketing strategies for a friend who wants to launch a sporting gear online store.

1.Set S.M.A.R.T.goals

Without goals, you could not know your social media return on investment. SMART framework which include specific, measurable, attainable, relevant, and time-bound. Setting goals focus on the sporting gear. And then, pay attention to the prospective customer, web referrals and conversion rate. There are numerous social media network like Facebook, Instagram, Twitters, LinkedIn, Snapchat. Different social media has different target users. You need to know which target group you want to attract for your sporting gear and choose that social media network.

2.Learn about your audience

You need to know who will be your audience and what kind of contents they want to see on the social media and lead them to like, comments and share to others. It is significant for sporting gear to think about how to develop social media fans into customers.

3.Competitive analysis

Online store is normal in the present world. Thus it is important to analyse your competitor. You can learn from them and try to do better to attract customers. Competitor is your best example and case study of your social media strategies.

4.Conduct a social media audit and build your social media content

Evaluate your current works and see what you have already done. Check out few questions like it’s working now or not, which platform you will choose and compare with you competitors. After that, you can set up your account and build your content on your social media like set up a theme relevant to sporting gear and put some product images or promote videos on your account.

5.Communicate with your audience

You can not only post your own contents and ignore your audience. Check out their comments and reply them will attract more audience to visit your account and help to build long-term relationship with your audience.

6.Evaluate and adjust your strategy

Internet change is rapidly, thus we need always improve our strategy and adjust it to adapt the environment. According to the development of sporting gear store to adjust the strategy and always post frequently.

 

 

Reference:

Alex York (2018). 7 Steps in Creating a Winning Social Media Marketing Strategy in 2018. [Online] Available at: https://sproutsocial.com/insights/social-media-marketing-strategy/

Evan LePage · Christina Newberry (2018). How to Create a Social Media Marketing Strategy in 8 Easy Steps. [Online] Available at: https://blog.hootsuite.com/how-to-create-a-social-media-marketing-plan/

Josephine Osifowokan (2016). Making A Great Social Media Marketing Promotional Strategy. [Image] Available at: https://techatlast.com/social-media-marketing-promotional-strategy/

Analyse E-CRM activities of Chinese Restaurant S2 in Hunan TV

Chinese Restaurant TV show is talk about five Chinese stars which is Zhao Wei, Su Qi, Su Youpeng, Bai Jugang and Wang Junkai open a Chinese Restaurant in France with the limit money. The TV show will shows their life in France and the challenge they met. After season one, Zhao Wei got experience to operate a restaurant. All they want is spread to more people about Chinese food.

According to the ratings, audience are really interested in this TV show. This TV show is very close to most people’s life. Audience watch the stars cook, clean the table and kitchen, serve the customer, wash dishes all day in the show. Audience feel everyone is the same at that time which will let audience to keep watch.

Chinese Restaurant can be seen on Hunan TV, mgtv.com, Tencent.com and YouTube.com every Friday night release(overseas release every Saturday 1am). After all day works, when you want to watch something to relax at Friday night or in weekend, Chinese Restaurant is suitable for you.

According to E-CRM (Customer Life Cycle) which include customer extension, customer selection, customer retention and customer acquisition. Chinese Restaurant attract customer not only the interesting of the show, but also the promotion of the show is great. This show has a weibo to update the news about the show and some news about the stars which is a significant way to attract and maintain the customer of the show. Meipai also updates titbits and promotion of the show. Besides that, the update on weibo and Meipai can also offset the time does not release the show. Moreover, Chinese Restaurant can attract different target of customer because the stars has represent different age group. Wang Junkai has represent the student just enter into the university, Bai Jugang has represent the young people, Shu Qi and Zhao Wei has represent the white-collar female and Su Youpeng has represent entrepreneur. Different people work together to operate a Chinese Restaurant, and they change chef every two days. It seems like everyone can found themselves in the show. Absolutely, people can learn how to cook Chinese food in the show.

Thus, the right person in the right show can attract more audiences.

 

Reference

Chaffey,D. Ellis-Chadwick, F.(2016) Digital Marketing 6th edition. Pearson 2016. p11

China Hunan TV Official Channel. Chinese Restaurant S2. [Image] Available at: https://www.youtube.com/playlist?list=PLUM8x224JrX88tNW7uDoreDO9_Zf2PsUw

Chinese Restaurant (TV series). [Image] Available at: https://en.wikipedia.org/wiki/Chinese_Restaurant_(TV_series)

[Image] Available at: https://baike.baidu.com/pic/%E4%B8%AD%E9%A4%90%E5%8E%85%E7%AC%AC%E4%BA%8C%E5%AD%A3/22169862/0/0df431adcbef760999ab3a4922dda3cc7dd99e40?fr=lemma&ct=single#aid=0&pic=0df431adcbef760999ab3a4922dda3cc7dd99e40

[Image] Available at: https://www.weibo.com/freshsunday?is_hot=1

 

 

4Ps of Marketing Mix

 

Marketing, which is ‘putting the right product in the right place, at the right price, at the right time.’ It sounds easy but still has lots of hard work in there like product research and analyse. Marketing mix is like a tool to assist you to take the new product into market. And 4Ps is a way to define the marketing mix which include product, price, place and promotion.

Product

Product is include intangible like service and tangible like good which has to meet customer’s need. To decide a product is the first decision you must to take before marketing plan. All products’ features need to be understood like how the product meet customer’s need, is there any features of the product may miss out or is there any features is cost a lot but useless for customer. In addition, the name, size, color, predict experience of the product are also significant. The reason why product is the first one to be mentioned is product will affect price, place and promotion. The product quality and useful will influence price. The features of product will decide place to put and the way to promotion.

 

Price

Price of product will according to cost of product, advertise fee, market expenses, distribution cost, competitor’s price, price fluctuations in the market etc. When planning the price strategy, you have to consider above factors. The price of the product will directly influence the way to sell. If the product can get most customer satisfaction, then the price can higher than the market price. If the product is useless for customer, then the price will goes down. Also, some discount will be needed when the product want to attract more customers. Competitor is really vital when people make price strategy because competitor is the best example.

Place

Place is the way how product provide to customer. Distribution is an important element of place and affect profitability of product. The placement strategy describe which channel is the most suitable of a product for customer which means help to understand how to meet customers’ need. Different distribution will result in different cost which directly related to the price of product. For example, wholesalers and retailers are different. The product distribute to 7/11 is different to the Woolworths. Besides that, if the product is for all customer, the distribution is direct to the market; if the product is for the specialize customer, the distribution will to the special place.

Promotion

Promotion is the communication between product and market. It has different ways like advertising, special offers etc. Promotion will according to the price strategy for promote budget. Promotion will assist decide the target customer and position of the product. If promotion is effective, it will attract customer and may increase the price. For example, the advertising on the internet will attract more customers than the advertising on the show window of specific store, absolutely, the cost is extremely different.

In conclusion, 4Ps which includes product, price, place and promotion are related to each other and direct affect each other. When you want to take a new product into market, you must consider the 4Ps of marketing mix for your product.

 

 

Reference

Chaffey D. Ellies-Chadwick (2016). Digital Marketing 6th edition. Pearson 2016

Hitesh Bhasin (2017). Marketing Mix – The 4 p’s of marketing. [Online]. Available at: https://www.marketing91.com/marketing-mix-4-ps-marketing/

Martin (2014). Understanding the Marketing Mix Concept – 4Ps. [Online]. Available at: https://www.cleverism.com/understanding-marketing-mix-concept-4ps/

mbaknol.com. Marketing Mix – 4 P’s of Marketing Mix. [Image]. Available at: https://www.mbaknol.com/marketing-management/marketing-mix-4-ps-of-marketing-mix/

Mind Tools Content Team. The Marketing Mix and the 4Ps of Marketing. [Online]. Available at: https://www.mindtools.com/pages/article/newSTR_94.htm

Muzna M. Determining the pricing strategy for your online business services. [Image]. Available at: http://www.iwon.my/determining-pricing-strategy-online-business-services/

Philip Piletic (2016). Different distribution options for your start-up. [Image]. Available at: https://www.dynamicbusiness.com.au/industry/retail/different-distribution-options-for-your-start-up.html

Tarresamuffet (2015). The Marketing Mix. [Image] Available at: https://visual.ly/community/infographic/business/marketing-mix

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

In this blog, I will demonstrate why setting long-term strategic plan like 5 years plans even 1 year plans are probably inappropriate in the digital marketing.

At first, different countries has different customer base but all rapid growth that may influence feasibility and demand for internet service. Organization has to always keep upgrade by date to develop their internet market.

Secondly, there always has new entrants enter into the market which means competitors are coming. In addition, different internet platforms have growth rapidly. They keep innovate the new feature and new direction to attract customer.

Thirdly, internet has changed the whole world. People change the lifestyle because the convenience of the internet. Countries need to enact the new law of the internet marketing like tax law which may different with the normal market.

Conclusion, these all illustrate organizations need to monitor internet market carefully and always prepare for the rapid change of the digital marketing. Thus setting a long-term plan is not realistic. The SMART marketing objectives is a good method to set a realistic plan which will focus on different period of target and collect detail information to deal with specific problem.

 

Reference

Dave Chaffey (2018). How to define SMART marketing objectives. [ONLINE] https://www.smartinsights.com/goal-setting-evaluation/goals-kpis/define-smart-marketing-objectives/

Dave Chaffey (2009) Page 47. Internet Marketing, 4th Edition, Instructor’s Manual