Homework: Branding in a Start-Up Organization
Overview
A newly established organization has the task of making itself noticed. This might sound simple, but gaining recognition in a fully developed industry is not a simple thing. Branding gives an organization a footprint in the market. Many organizations align themselves with larger organizations. Some organizations attempt channel marketing to gain recognition. Today, the most common path for a start-up organization is the use of social media for two primary reasons: Social media is immediately available and social media is a cost-effective method for advertising. Additionally, social media allows feedback on a product or service.
Read the articles, "Riding Coattails: When Co-Branding Helps Versus Hurts Less-Known Brands," "Social Media's Slippery Slope: Challenges, Opportunities and Future Research Directions," and "Branding, Inc," in this unit's studies and consider the following scenario:
Regina Poincy-Zimmerman has decided to leave her former organization Genaflek. The owner and CEO of Genaflek Marketing, Carl Genaflek, had a large number of clients. Many of these clients were clamoring for entry into the social media arena. As a business owner for many years and a Baby Boomer, Carl could not see the value in moving from traditional marketing, which involved traditional print and media, to the social media arena. Regina created and used social media analytics with several of Carl's customers and found the clients highly receptive to her efforts. After much effort, Regina decided Carl was not willing to adopt new marketing techniques.
As you have read in the previous units, Regina has completed a personality traits assessment, written a business plan, obtained funding, and is now ready to open her business. Regina's new business is RPZ Social-Media Analytics. A number of the Genaflek clientele is following Regina to her new business. Regina is concerned, however. She knows she will have an income stream for about three months. Then what? How will she obtain new clients? How can Regina establish her own brand and draw business to her agency?
Instructions
Based on what you have read about branding for a new business, plus one additional credible source that you find, write a short paper discussing the types of branding Regina might use to establish her niche in the marketing field. Consider the following questions:
a. What types of traditional marketing types are available to Regina? Discuss at least three types of traditional media. What are the advantages and disadvantages to traditional types of marketing? What is the target market?
b. What are the latest avenues of social media available to Regina? Discuss at least three types of social media. What are the advantages and disadvantages to these types of marketing? What is the target market?
c. Make your final recommendation as to the steps Regina should take to ensure her business makes a successful entry into the marketing industry.
d. The focus of your explanations should be on illustrating the use of critical thinking and credible information sources used to answer the questions regarding Regina's marketing options.
Format your homework according to the give formatting requirements:
a. The answer must be double spaced, typed, using Times New Roman font (size 12), with one-inch margins on all sides.
b. The response also includes a cover page containing the title of the homework, the course title, the student's name, and the date. The cover page is not included in the required page length.
c. Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.