23 Nov Working independently, identify and discuss how a company selects a segmentation strategy to identify the unique characteristics of the population segment most likely to need and purchase its
Working independently, identify and discuss how a company selects a segmentation strategy to identify the unique characteristics of the population segment most likely to need and purchase its offerings.
Be sure to discuss the available segmentation strategies (demographic, psychographic, socio-cultural, or an SIC industry classification) the company would most likely use, as well as compare and contrast the B2B vs B2C characteristics. Finally, determine if your selected company (Alphabet inc) will use a B2B or a B2C segmentation strategy.
Your paper should be 1-2 pages (excluding the cover sheet and References pages) written in the correct APA writing style. Please proof carefully for grammar, punctuation, and sentence structure.
Below I have attached all the previous assignments to give clarity on what company we are doing this assignment off of. it is part of one big project that is broken up into smaller pieces but all focused on the same company.
Business Summary
Everyone across the globe has heard of Google, but how many have heard of the
company called Alphabet? Alphabet has been the parent company to Google since 2015
when founders Lawrence Page and Sergey Brin created Alphabet to reorganize Google
Inc.’s many interests in being a multi-industry company (CH, 2022). Alphabet operates in
two segments, one being the Google segment and the other being the other than the
internet services (CH, 2022). Alphabet has become one of the world’s most valuable
brands by being an umbrella company operating in two segments that’s purpose is the
betterment of its subsidiaries and its people.
Alphabet is an American based company that has subsidiaries and products
globally. Alphabet is an internet services and retailing industry company that is based out
of Mountain View, California and has over one hundred and seventy-four thousand
employees and has a market value of one thousand and three hundred and nine billion
dollars (Fortune, 2022). Alphabet is ranked eighth in the Fortune 500 rankings. It also has
over one hundred and sixty subsidiaries operating under its umbrella and because of all of
those businesses Alphabet has become one of the largest companies across the world
when it comes to marketing capitalization (Rangaiah, 2021).
As Alphabet (2022) says its mission statement is Empowering great
entrepreneurs and companies to flourish. Investing at the scale of the opportunities and
resources we see. Improving the transparency and oversight of what we're doing. With
that mission statement in mind Alphabet’s amazing marketing team lead by Brianna
Garcia and accompanied by Lacy Myers, Randall Wise, and George Dominguez will be
working out of their main headquaters in California and virtually to design and market a
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new product that will make technology even easier and smoother to share over more
platforms as they make Apple collide with Android and all Alphabets other subsadaries
like Google, Cloud, and Chrome.
Welcome to the future! A future where technology changes by the day and
keeping up with all the different devices, software, providers can be overwhelming for
the average person. What better company to trust in than that of Alphabet which is the
umbrella company to the king Google, along with Android, Youtube, Nest, and many
more. The future lies with Alphabet. There is suprize in what lies in the product they will
put out next!
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Alphabet Inc. Marketing Strategy
Brianna Patrice Garcia
Excelsior University
BUS351: Marketing Concepts and Application
Professor Susan Craver
November 16, 2022
Identify and discuss the marketing goals for Alphabet Inc.
The marketing goals for Alphabet Inc. are to increase awareness of the company and its products and services, generate leads for potential customers, build brand loyalty among existing customers, and increase sales and market share (Mahoney, 2017). Alphabet Inc. is a large multinational conglomerate with a diverse range of businesses and products. As such, increasing awareness of the company and what it has to offer is a key marketing goal. This can be done through various marketing channels such as advertising, public relations, and content marketing. As such, awareness-building is an important goal for the company's marketing efforts. Making potential customers aware of Alphabet Inc. and its offerings can help generate leads and sales. Building brand loyalty is also an important goal for Alphabet Inc.'s marketing efforts (Mahoney, 2017). This can be done through initiatives such as customer loyalty programs, which offer rewards for customers who continue to purchase from the company. By creating a strong emotional connection with customers, the company can encourage them to continue doing business with Alphabet Inc. over the long term. Increasing sales and market share are other key objectives of the company's marketing strategy. This can be done through various marketing strategies such as pricing, promotion, and product placement.
What metrics will Alphabet Inc. use to assess the performance of the marketing strategy?
There are a few separate ways that Alphabet Inc. could measure the performance of their marketing strategy. They could look at the number of people who visit their website or use their products, the amount of engagement with their marketing campaigns, or the level of brand awareness (Farris et al., 2015). The number of people who visit the Alphabet Inc. website or use their products can be a good metric to assess the performance of the marketing strategy. This is because it shows how many people are interested in what the company has to offer. If the number of people using the website or products goes up, it means that the marketing strategy is working, and more people are becoming aware of the company. Another metric that can be used to assess the performance of the marketing strategy is the amount of engagement with the marketing campaigns. This can be measured by looking at the number of people who click on the ads or interact with the content. If the numbers are going up, it means that people are finding the marketing campaigns interesting and are more likely to remember the company. Finally, the level of brand awareness can also be used to assess the performance of the marketing strategy. This can be measured by looking at how many people recognize the Alphabet Inc. brand. If the brand is becoming more well-known, it means that the marketing strategy is working, and more people are becoming aware of the company.
References
Farris, P., Bendle, N., Pfeifer, P. E., & Reibstein, D. (2015). Marketing metrics: The manager's guide to measuring marketing performance. FT Press.
Mahoney, P. (2017, December 16). The top 12 marketing goals for your 2018 plan. Medium. Retrieved November 16, 2022, from https://medium.com/multiplier-magazine/the-top-12-marketing-goals-for-your-2018-plan-e5722b734955
Wikipedia. (2022, November 11). Alphabet Inc. Wikipedia. Retrieved November 16, 2022, from https://en.wikipedia.org/wiki/Alphabet_Inc.
