Discussion Post: Earned Vs. Paid Media- Principles of Marketing
Overview:
There are several various forms of media as it related to digital marketing. Take a look at this short video Meylan, C. (January 24th, 2018) Owned-Paid-Earned (OPE) Media before jumping into this week's business scenario.
In Style Fashion is a new entrant into the fast fashion market. InStyle Fashion targets Gen Z aged between 18-22 and Millennials aged between 23-28 years old. This market is valued at $35.8 billion and two of their primary rivals are Fashion Nova and Missguided.
Simulated Business Scenario:
Julio, the owner of InStyle Fashion, is trying to follow the earned media model of leveraging the reach of social media to promote the launch of new products. In other words, when customers become the channel.
Julio has recruited Marguerite from ASOS (another brand that relies on earned media) to head up this new initiative. There is a lot of positive buzz from the fashion industry and Marguerite is charged with creating and distributing press releases in an integrated marketing communications plan in advance of the Q3 (late spring, early summer) launch of the InStyle Fashion brand.
Task:
a) What social media platforms (owned media) should Marguerite recommend based on InStyle Fashion's target audience?
b) How would Marguerite's team utilize earned vs paid media for the launch of the Premier brand?
The response must include a reference list. Using Times New Roman 12 pnt font, double-space, one-inch margins, and APA style of writing and citations.