Benchmark Assignment – Social Media Strategy Analysis.

Posted: November 17th, 2022

Benchmark Assignment – Social Media Strategy Analysis.

The company I choose is Michael Kors, please and thank you.

Select a product, line of products, or brand from a company of your choice and research the company’s social media marketing strategies. Carefully examine the social media presence for the product. In an analysis (750-1,000 words), identify how the company utilizes social media to promote the product. Address the following in your analysis:
1. What is the customer segment for this particular product, line of products, or brand?Benchmark Assignment – Social Media Strategy Analysis.Benchmark Assignment – Social Media Strategy Analysis.

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2. Which social media outlets does the company use to reach the customer segment? Discuss elements of their campaign.
3. Examine the customer segment’s response to the company’s social media marketing (e.g., through evaluating user-generated content related to the campaign, sales data for particular products, etc.). Based on that response, how effective are the company’s social media marketing strategies?Benchmark Assignment – Social Media Strategy Analysis.
4. Compare the company’s social media strategies to one of its major competitors. What does the company do well to distinguish itself and product(s)/brand?
5. Finally, recommend two specific strategies for how the company could more effectively utilize social media to better target its customer segment and increase its competitive advantage in the market.Benchmark Assignment – Social Media Strategy Analysis.

Support your ideas and findings with descriptions of specific social media campaign examples and consumer and market research.
Prepare this assignment according to the guidelines for APA format. An abstract is not required.

This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.Benchmark Assignment – Social Media Strategy Analysis.Benchmark Assignment – Social Media Strategy Analysis.

Social media strategy analysis – Michael Kors

Michael Kors is a fashion and design company that was established in 1981 and is currently a subsidiary of Capri Holdings Limited. It was formed by Michael David Kors, an American Fashion designer. The company markets fragrance, footwear, jewelry, watches, wallets, accessories and clothing across the world. The brand offers three wallet designs that are targeted at female customers with a simple design that meets the practical day-to-day needs on a practical and chic manner. The three wallet designs marketed under the brand name include Coin & Card Wallet, Slim & Trifold wallet, and Wristlet wallet (Michael Kors, 2019).Benchmark Assignment – Social Media Strategy Analysis.

1. What is the customer segment for this particular product, line of products, or brand?

Michael Kors brand of walletsare luxury products targeted at young female customers who are influenced by public personalities and celebrities, and are fashion trend chasers. In this case, the three wallet designs are intended to meet casual and formal lifestyle needs in response to flexible work situations and casual wardrobes. Offered in different design prints and colors, the wallets seek to meet the varied and wide needs of young female customers who are ready to pay more per wallet and buy more wallets overall. In an environment less tethered to the traditional environmental demands (whether for formal or casual needs), wallets are necessary portable storage tools for cellphones, cards and miscellaneous items. In meeting functional needs (such as keeping the hands free and facilitating easy access to cellphones), Michael Kors brand of wallets has turned into a wallet brand of choice for young females(Michael Kors, 2019).Benchmark Assignment – Social Media Strategy Analysis.

2. Which social media outlets does the company use to reach the customer segment? Discuss elements of their campaign.

The company uses thirteen social media profiles in ten social media outlets to reach the customer segment. The social media outlets include Facebook, Twitter, Instagram, YouTube, LinkedIn, Weibo, YouKu, WeChat, Pinterest, and Destination Kors. The messages transmitted through social media are product orientated and intended to have an advertising and influencer effect on the customer segment. Every message has a corresponding product, high quality photograph where appropriate, and share option to spread the message to a wider audience. The messages are shaped by the audience who lead conversation with a focus on their experiences and expectations. Also, they have customer service capabilities that are leveraged to address general concerns and queries. Social media has turned into a valuable business tool for the company, offering learning, sharing and adding opinions capabilities that are leveraged to engage audiences. The company has particularly made use of high quality photographs to communicate messages that cannot be adequately communicated using text. Overall, the thirteen social media profiles that the company controls have been linked to work together and create a marketing digital ecosystem (Mahoney & Tang, 2017).Benchmark Assignment – Social Media Strategy Analysis.

3. Examine the customer segment’s response to the company’s social media marketing (e.g., through evaluating user-generated content related to the campaign, sales data for particular products, etc.). Based on that response, how effective are the company’s social media marketing strategies?

Michael Kor has an online presence through social media that allows the company to reach a large number of persons in the market. To be more precise, the company has 17.86 million followers on Facebook, 12.5 million followers on Instagram,3.55 million followers on Twitter, 216,000 followers on Pinterest and 59,000 followers on YouTube. The social media campaigns have influenced consumer behavior, with 30% preference for wallets among all female teens in the USA, and 34% preference among upper-income female teens in the USA (Statistica, 2019). The company has been effective in its social media marketing strategies, successfully managing its social media accounts. Firstly, it has a lot of social media accounts in 10 platforms, an indication that the company has invested in social media marketing. Secondly, it has opened official accounts that cater to the global market. This is particularly true for China where access to Instagram, Twitter and Facebook is restricted. For China, the company has opened Weibo and WeChat accounts.Benchmark Assignment – Social Media Strategy Analysis.

4. Compare the company’s social media strategies to one of its major competitors. What does the company do well to distinguish itself and product(s)/brand?

Michael Kors has applied a more successful social media strategy when compared to its competitors. This is evidenced by comparing the number of followers in these platforms. A review of the Facebook accounts shows that Michael Kors has 12.5 million followers, while Kate Spade, Coach and Tory Burch each have less than three million followers (Statistica, 2019). The successful strategy and large number of social media following has been attributed to market engagement approaches. Michael Kor insists on positing high-quality images accompanied by relevant texts. The presentation of the social media messages is typically relevant to certain fashion topics and attractive to the target audience, creating catchy talking points that encourage audiences to interact with the message contents. Overall, Michael Kors has been more successful than its competitors in the use of social media owing to applying a strategy that focuses on positing best-fit, suitable and relevant context that appeal to the target audiences(Kingsnorth, 2019).Benchmark Assignment – Social Media Strategy Analysis.

5. Finally, recommend two specific strategies for how the company could more effectively utilize social media to better target its customer segment and increase its competitive advantage in the market.

Although the company has been successful in the effective use of social media, there are strategies that can be adopted to improve performance. This is evidenced by the fact that although the company has many social media followers, there are other luxury fashion companies that perform better. For instance, it has 11.76 followers on Twitter, Chanel has 28.05 million followers, Louis Vuitton has 24.55 million followers, and Dior has 19.7 million followers (Statistica, 2019).Benchmark Assignment – Social Media Strategy Analysis. Michael Kor can improve its social media marketing effectiveness through two strategies. The first strategy is to adopt the use of chatbots that would automatically engage followers with the appropriate information, directing conversations without the need for human interruptions. This ensures that the followers are fully engaged by the company and feel valued. It also ensures that followers have personalized experiences when communicating with the company so that they turn into loyal fans. The second strategy is to use live streaming features to go live with events happening in the company. This would show that the company is not simply profit oriented, it is keen on engaging and inspiring its followers, and looks to create memorable experiences with its products. The two strategies would allow the company to gain a competitive advantage (Kingsnorth, 2019).Benchmark Assignment – Social Media Strategy Analysis.