Order custom Harvard Business Case Study Analysis & Solution. Starting just $19
WestJet: A New Social Media Strategy Marketing Strategy Analysis & Solution
Marketing & Sales Case Study Analysis and Solution
At Fern Fort University, we use Harvard Business Review (HBR) marketing principles and framework to analyze WestJet: A New Social Media Strategy case study. WestJet: A New Social Media Strategy is a Harvard Business Review case study written by Derrick Neufeld, Faizal Jiwani, Sarah Hardy, Peter Tongfor the students of Sales & Marketing. The case study also include other relevant topics and learning material on – Social platforms
Strategic Marketing Analysis of WestJet: A New Social Media Strategy case study written by Derrick Neufeld, Faizal Jiwani, Sarah Hardy, Peter Tong will comprise following sections –
- WestJet: A New Social Media Strategy Case Description
- Marketing Definition
- Market Potential Analysis of WestJet: A New Social Media Strategy
- Market Share Potential Analysis
- Segmentation and Segment Attractiveness Analysis
- Competition and Competitiveness Analysis of WestJet: A New Social Media Strategy
- Customer Value Analysis of WestJet: A New Social Media Strategy case study
WestJet: A New Social Media Strategy Marketing Case Description
Sales & Marketing Case Study | Authors :: Derrick Neufeld, Faizal Jiwani, Sarah Hardy, Peter Tong
In October 2015, WestJet, Canada's second largest airline, needed to expand its social media presence. The vice-president of marketing and communications and the manager of social media were excited about the prospects of continuing to grow their customer base and reach even more guests through social media. WestJet had developed a highly successful approach to managing social media, and now the two executives were faced with two new possible social platforms: Snapchat and Pinterest. With an economy in decline and a flat marketing budget for 2016, they had a decision to make. Should the company pursue either of these platforms for the coming year, and if so, how? Which one would be best for the growth and evolution of WestJet's social media presence?
According to American Marketing Association – Marketing is a set of activities that a firm undertakes for creating, communicating, delivering, & exchanging offerings that have value for customers, clients, partners, and society at large.
Kotler explains - Marketing is a process by which organizations can create value for its potential and current customers and build strong customer relationships in order to capture value in return.
Market Potential Analysis of WestJet: A New Social Media Strategy
Market potential analysis comprises evaluating the overall market size of the related product that the firm is planning to launch. This will involve defining – Why the target market segment needs the product and how it will provide a solution to full its consumers’ needs. Market potential of WestJet: A New Social Media Strategy products various on factors such as –
- Maturity of the market. In mature markets the profitability is often stable but the market potential is less as most of the players have already taken market share based on the segment they are serving. New players have to go for market share strategies in marketing.
- Technological competence of the existing players and culture of innovation and development in the industry.
- Untapped market sizes and barriers to both enter the market and serving the customers. Often companies can easily see the unfulfilled needs in the markets but they are difficult to serve as there are costly barriers.
- Define the core need that your product is serving and list out all the direct and indirect competitors in the market place. This will help not only in positioning of the product but also in defining or creating a segment better.
- Uncovering the current and untapped market sizes and barriers to serving the larger market. Analyze the areas that you need to sort out while launching the products to wider market and what are the challenges the firm will face in market place.
- Estimate the current stage in product life cycle and its implications for marketing decisions for the product.
Market Share Potential Analysis
- Understanding the buyer behavior model for WestJet: A New Social Media Strategyindustry.
- Identifying the market share drivers relevant to WestJet: A New Social Media Strategy market.
- Segment Attractiveness Analysis – Our analysis will work out which are the most attractive segments and which are the one the firm should go ahead and target. We point out in great detail which segments will be most lucrative for the company to enter.
- Understanding the different needs and relative value of your offering by segment.
- Developing segment priorities and positioning the product based on the product need fit developed by the firm.
Competition & Competitive Position Analysis
- Uncovering customer-based competitive positions for key rivals and firm’s offering. This will not only help in assessing the strengths and weaknesses of the competitors but also help in defining and positioning of the product.
- Developing a positioning and launching strategy. It will require not only distribution channel analysis but also promotion mix for the product.
- Strategic Marketing Planning — the process of developing and maintaining a strategic fit between the organization’s objectives and capabilities and the ever evolving marketing opportunities for its products.
WestJet: A New Social Media Strategy - Customer Value Analysis
Capturing customer value is essential to marketing efforts as it results in higher return in the form of both current & future sales, greater market share, and higher profits. By creating superior customer value, the organization can create highly satisfied customers who stay loyal and buy more. This, in turn, means greater long-run returns for the firm.
- The crucial role of customer perceived value in acquiring and retaining profitable customers. Product differentiation is often based on building on a value niche that a firm believes that is very important to the customer. This niche contributes to perceived value. If the perceived value is high then customer stay loyal to the product if not then she can switch to the competitor’s product.
- Graphically displaying value differences for deeper understanding and better internal communication. This helps is building a narrative that a customer can identify with. The better the insight more are the chances of connecting with the potential customers.
- Identifying and selecting actionable value creation options. This can help in increasing the customer lifetime value. Customer lifetime value is the value of the entire stream of purchases that the customer would make over a lifetime of patronage.
NOTE: Every marketing case study solution varies based on the details and data provided in the case. We write unique marketing strategy case solution for each HBR case study with no plagiarism. The specific case dictate the exact format for the case study analysis.
You can order WestJet: A New Social Media Strategy Marketing Strategy Case Study Solution with us at Fern Fort University .
Next 5 Marketing Case Study Solution
- Delhi Metro Rail Corporation (B): Doing More with Less Marketing Strategy Solution
- Malaysia Airlines: The Marketing Challenge after MH370 and MH17 Marketing Strategy Solution
- Superb Trucks LP: How to Conduct a Field Experiment Marketing Strategy Solution
- Airbnb: WhatÂ´s Next? Marketing Strategy Solution
- HyundaiCard's Marketing Strategy Marketing Strategy Solution
Previous 5 Marketing Case Study Solution
- Eco7: Launching a New Motor Oil Marketing Strategy Solution
- Airbnb, Etsy, Uber: Acquiring the First Thousand Customers Marketing Strategy Solution
- InMobi: Reimagining Mobile Advertising Marketing Strategy Solution
- Building Acquaintance Brands via Snapchat for the College Student Market Marketing Strategy Solution
- Atmel: Igniting the B2C in B2B Marketing Strategy Solution
HBR Case Studies Solutions
- Delhi Metro Rail Corporation (B): Doing More with Less Porter, SWOT,& PESTEL Analysis
- Malaysia Airlines: The Marketing Challenge after MH370 and MH17 Porter, SWOT,& PESTEL Analysis
- Superb Trucks LP: How to Conduct a Field Experiment Porter, SWOT,& PESTEL Analysis
- Airbnb: WhatÂ´s Next? Porter, SWOT,& PESTEL Analysis
- HyundaiCard's Marketing Strategy Porter, SWOT,& PESTEL Analysis