Kyle’s Blog

Wow the role of social media when it comes to marketing. Honestly where do you begin. Over the years people turning to social media platforms to market their product has grown tremendously. Within the last 10 years most of your ads or marketing schemes were run over the radio stations or even on television. Wake up on a Saturday morning turn on the tv and all you see are people running programs trying to get you to buy cook wear, jewelry or other oddities. Now all it takes is a swipe of a finger or a scroll down your phone or computer screen to see so many ads from some many different types of products.

The social media platform I think I can relate to or have used the most for marketing would be Facebook. I have had myself or several of my friends use Facebook to market their business or something they are selling. With places like Facebook Market place where you can see items you make or stuff you are just trying to clear out of your house. The reach of how many people see your items are unlimited. Then on the other hand I have a good friend that owns his own repair shop and he doesn’t run television ads or radio ads, he strictly markets his business on Facebook. His reason is that is free in some ways or you pay a small less expensive fee and market yourself how ever you want. The benefit for him doing this is because when he does any work to my truck I will give him a shout out on Facebook which in return lets everyone on my friends list see it and now become familiar with his business and he didn’t have to do anything.

It is nuts the amount of friends or even strangers you can reach by using social media as your marketing platform. It comes down to how you do it and what can you do to separate yourself from all the others when you do market on Facebook so people will buy or see your products.

Kyle Wiley

The social media platform that I use the most is Instagram. I think when we all knew the world of only being Facebook and doing everything on that platform , for example posting pictures or making statements and even just commenting on other peoples post. But over the years platforms like Facebook have been taken over by politics and just individuals speaking their minds to much. So once Instagram came along is was refreshing and new. With Instagram you just post pictures. There is no long rant over something that happened on the news or in the world. Instagram fits what I need due to me starting a new little side gig and turning empty bourbon bottles into lamps. Once I complete a lamp I can post it and then use hashtags and use the @ symbol to tag the distillery or person in the pictures so more people can see my post. The more my post get notice the more business I can create for myself and market my lamp business to many of people that potentially I can start selling them in a retail space.

Marketing on social media platforms have became more popular over the recent years and that is because of the advancements in technology. With cell phones, tablets and smart TV’s our reach to the social media platforms are anywhere in the world. What makes Instagram a great platform is that many are finding that they can implement influencer marketing to help them reach a wider audience (Campaign Monitor). I just feel like posting and navigating is much easier on Instagram. But when I am scrolling on Instagram I can see products that are presented on there that may make me take a second look or click on their ad to learn more about the products. I have bought several items from those ads or have started to follow that business to watch for more deals or cool new items. For instance I watch a show called the Diesel Brothers and they build custom trucks and do cool giveaways on several social media platforms. I have entered to win a few of the trucks they are giving away and no I have not one a custom truck yet I continue to buy their products, like t-shirts, stickers and hats. Some times they will post about for a certain amount of time only if you spend so much that you can earn extra entries and yes I have for sure taken advantage of those deals.

Back to my lamp business, I follow several other individuals on Instagram that make lamps like I do and I have asked them where is best places to buy supplies and they share that information with me and then I will find that business and follow them so I can keep up with their daily deals or just post in general. Instagram has brought me new customers from the pictures I post. So at the end of the day I will continue to market my little side business on social media platforms but Instagram will be my favorite to use and feel like I can reach more people and future customers.

Kyle Wiley

We are promoting the truck tent that sets up in the bed of the Ford pickup trucks midsize and fullsize. This quick and easy tent will not only keep you out of the elements that come with the outdoors but also keep you off the ground from the morning dew to the bugs that crawl at night.

With truck sales and outdoor gear sale rising this puts Ford in a good place when launching the truck tent.

Industry Trends

The industry trends for us to watch is of course truck sales and tent and outdoor gear sales. We want to see if these two products together can still stay on the upswing with sales like they have individually over the years.

Over the years people thought of trucks as work horses and vehicles used for farms or to haul loads. Now with all the technolgy that are put into trucks they are like driving luxury SUVS. So now more and more are buying trucks.  “The range of options available in the full-size truck market right now is catching the eye of buyers with more discretionary income, and many of them are ditching their SUVs to make the jump. And since full-size trucks retain their value so well, once a shopper gets pulled into the fold they’re more likely to remain loyal to the segment.” (Jim Gorzelany, 2020). So the way truck sales are trending it could be good for us and our truck tent. During our current times with the COVID-19 pandemic going on we are seeing crazy sales numbers.

Now we have to look at tent and outdoor gear sales. The global camping tent market size was valued at USD 2.14 billion in 2018 and is projected to expand at a CAGR of 6.3% from 2019 to 2025 (Grand View Research, 2020). So people are getting outside more and more and looks like they will continue that trend for future years.

Legal, ethical, and industry standards

I think with Ford we have to uphold those standards that Ford has had over the years with the quality of their trucks and other vehicles. So on the legal end I think we have to make sure we let buyers know that this tent is to be only put up when the vehicle is parked and taken down when the vehicle is in motion, so all safety standards will have to be passed and that will also make sure we pass all legal issues too. We would have to also go by and legal and ethical standards that go with making tents as well, like no choking hazards and make sure the product is made out of material that is safe for both people and the environment. I wouldn’t think that we would have to pass any vehicles laws since the truck is not the new product but the tent is just the add on onto the truck.

Limitations

I have not come across to many limitations besides having to out source a company that would have to make the tent. One way to get around that would be to team up with a current tent manufacturer and make it more of a limited edition when you buy the new Ford truck.

References

https://www.grandviewresearch.com/industry-analysis/camping-tent-market

https://www.forbes.com/sites/jimgorzelany/2020/03/03/why-annual-pickup-truck-sales-have-more-than-doubled-over-the-last-decade/#29e9af6177c3

FORD MOTOR COMPANY

I chose Ford. The reason I picked Ford was because I enjoy cars even the technology that is going into vehicles now. Even though I prefer classic cars I like seeing the new models and whats new that comes out every year.  It was founded by Henry Ford and incorporated on June 16, 1903. The company sells automobiles and commercial vehicles under the Ford brand, and most luxury cars under the Lincoln brand.

The new idea I would like to pitch would be a camping tent for all pickup trucks that come standard. With me being a truck owner and wanting my signifacant other to go camping with me but of course she isnt a fan of bugs and having to sleep on the ground. But when I saw the tent they sold for trucks on Amazon I was sold and excited. I think making this a standard option for guys or girls looking to buy a truck because they dont buy a truck without taking to it places cars cant go. Also with all going on in the world today people are encouraged to get outside more often.

Reference:

https://en.wikipedia.org/wiki/Ford_Motor_Company

So when Under Armor started it was geared towards men with the dry wicking material for football and basketball players. It was built for the “tough guy” that played sports. Its marketing and advertisement had focused on targeting men by delivering technical apparel positioned as innovative and modern. In 2013, Under Armor had $2.3 billion in sales yet only $500 million came from its women’s apparel.1 Plank was ready to expand into the female market segment (Darden Business Publishing, 2016). In 2013 Adidas took over the number two spot in the sport apparel category and gearing it towards women , but ended up being a complete failure and then seeing their failure Under Armor decided to continue to pursue the female side of the clothing line and came out with a campaign “I Will What I Want”. Pouring millions of dollars into the campaign they saw success in their marketing towards the female and not so much towards the male.

Some key points to remember when implementing segmentation strategies are:

• Psychographic: Grouping customers into social status, lifestyle and personality type.
• Decision Makers: Grouping customers based on who decides to purchase the product.
• Behavioral: Grouping customers by product usage.
• Geographic: Grouping customers by a specific area.
• Distribution: Grouping customers based on where they go to purchase the product.
• Demographic: Grouping customers by age, income level, gender, family size, etc.

I would say a new market segment I have noticed in recent times would be how every thing can be delivered to your home now. Yes delivery has been popular over the years with companies that had delivered pizza or packages. But now with the technology we have deliveries can be made within a hour after you paid for a product. You can have someone go pick up your food order and bring it to you fast and still hot. The rise of food delivery in the United States was caused by economic necessity, as during the 1950s, the growing American middle-class were content to stay at home watching their new television, and to make their food in their own kitchens. This meant the restaurant industry in the U.S. was starting to collapse. Restaurants were forced to adapt by creating the modern delivery service, even advertising their menus on televisions. Time and The New York Times say that restaurants who began providing delivery services boosted their sales up to 50 percent in a short time. The success of this idea led to the modern day, where food can be ordered from practically any restaurant with phone apps, computers, or a call. Delivery continues to be a staple of the food industry and will continue to be for the foreseeable future (Ian Harvey, 2019). I think the reason for this is that people just don’t have the time or the want to actually go to the store themselves. I know that I am one of those people.

https://www.thevintagenews.com/2019/01/08/food-delivery/

https://services.hbsp.harvard.edu/lti/links/content-launch

When it comes to being a consumer I think I am an individual consumer. The reason I say this is because I buy items for my own personal self or friends

What influences my buying is discounts. I am all about the best bang for my buck. I don’t go by brands when buying clothes, I look for quality and if I can buy them at a good price. I don’t see a point on buying lets say a pair of jeans. Instead of going to the local mall I may go to some place like Marshalls or TJMaxx and buy the last year model for a cheaper price. Yes when I was younger brands played a larger role on what I bought because it was the trend to have the brand name.

What leads me to making a purchasing decision is if I am in need of a certain item. Lets say for example a pair of jeans. I know this sounds crazy but I wont buy news jeans unless absolutely needed. Like I actually just had to throw a pair away due to finally wearing a hole in them and forcing me to finally throw them away. I don’t feel the need to buy clothes for no reason because I like to spend money on things like trips or outings.

When it comes to being influenced by any marketing ads like either on television or social media I will potentially go and either try something or buy a product due to what I saw. I enjoy craft beer and bourbon. If one of my favorite local breweries post a new beer they have came out with I will most likely go and try it to see if I will like it and may end up buying a six pack of it. So yes when scrolling through Facebook or Instagram I may be influenced to buy something.

Sometimes I do regret on some purchasing I have made. The reason for that regret is did I spend to much, was that a waste and could I have spent the money on something else that was more appropriate or could I have used that money for bills or something more important.

Thinking about a career in Marketing? Wanna get involved with creating ads and commercials like you see on television and hear on the radio? Well marketing can be a great industry to be involved in and sometimes you have to be careful of how you approach creating marketing campaigns. Following the ethical standards that come with marketing is a fine line you have to follow. Yes you think that certain ads can be better but you don’t realize what goes into making those ads and the rules that have to be followed.

The American Marketing Association has came up with a ethical standard. Those standards are described as “norms and values” What the AMA means by calling them norms is saying this, established standards of conduct that are expected and maintained by society and/or professional organizations. So in the field of marketing you have to represent not only the company you work for but also be a good standing member of society. You have to be a very professional person and make sure you are making a good name for yourself since you will be involved with many stakeholders.

Some areas you need to follow is the ethical norms. You can not do any harm. Follow all rules, avoid negative and harmful actions. Be aware of the ethical values. Build confidence with your consumers. Respect your consumers and be completely honest. That will help you build those strong relationships.

But some potential concerns that come with this if those ethical standards are not followed can be many situations. Like you could lose a huge customer support. When people get a bad taste in their mouth they will not buy and things will go down fast. You can upset your stakeholders and lose backing and jobs. All it takes is to burn one bridge and you can lose it all real fast. Then have to carry that reputation around with you and potential never getting another chance to redeem and be out of a career very quickly.

Reference:

American Marketing Association,
https://www.ama.org/codes-of-conduct/

What are SMART goals and how do they play a role in marketing? Well let me explain what SMART stands for.

S: Specific

M: Measurable

A: Attainable

R: Realistic

T: Time-based

How do SMART goals help in a marketing campaign? Having goals written in a SMART format ensures that the goal-setter is clear on what they’re trying to accomplish, when and how. It will help you complete your goals in a timely manner.

Some questions to ask yourself:

• What exactly do I want to achieve?
• Why exactly do I want to reach this goal? What are possible alternative ways of achieving the same?
• Who, Where, When and How?
• What are some limitations?

How to differentiate goals, objectives, strategies and tactics.

Goals: A goal is what you’d like to accomplish. It’s the big idea. It is what your business or company hope to achieve at the end of the project.

Objectives: Objectives can be measurable. An objective

Strategies: Strategies define a general approach or method, whereas tactics describe specific activities. Strategies should answer the question; How do we accomplish this?

Tactics: Tactics are specific activities that will be implemented to meet your objectives and execute your strategies. 

Key Performance Indicator (KNP)

What is KNP? It is a measurable value that demonstrates how effectively a company is achieving key business objectives. Organizations use KPIs at multiple levels to track performance measures.

 KPIs need to be defined according to critical or core business objectives. One way to evaluate the relevance of a performance indicator is to use the SMART criteria. 

References:

https://www.klipfolio.com/resources/articles/what-is-a-key-performance-indicator

http://www.knbcomm.com/blog/differentiating-goals-objectives-strategies-and-tactics-key-components-successful-strategic-plan