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Creating Online Videos That Engage Viewers 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 Creating Online Videos That Engage Viewers case study. Creating Online Videos That Engage Viewers is a Harvard Business Review case study written by Dante Pirouz, Allison Johnson, Matthew Thomson, Raymond Pirouzfor the students of Sales & Marketing. The case study also include other relevant topics and learning material on –
Strategic Marketing Analysis of Creating Online Videos That Engage Viewers case study written by Dante Pirouz, Allison Johnson, Matthew Thomson, Raymond Pirouz will comprise following sections –
- Creating Online Videos That Engage Viewers Case Description
- Marketing Definition
- Market Potential Analysis of Creating Online Videos That Engage Viewers
- Market Share Potential Analysis
- Segmentation and Segment Attractiveness Analysis
- Competition and Competitiveness Analysis of Creating Online Videos That Engage Viewers
- Customer Value Analysis of Creating Online Videos That Engage Viewers case study
Creating Online Videos That Engage Viewers Marketing Case Description
Sales & Marketing Case Study | Authors :: Dante Pirouz, Allison Johnson, Matthew Thomson, Raymond Pirouz
The Holy Grail of modern online marketing is video content that "goes viral,"meaning that it captures an enormous number of views and leads audiences to share, comment or click that they "like"a video. Various experts have ventured theories about what kind of content makes for a hit. The advice varies widely and is even contradictory. Depending on the expert, success is thought more likely if a video is humorous, shocking, dramatic, topical, warm, arousing, angry, scary, socially beneficial, cute, violent, sexy, uplifting, intriguing, quirky, interesting, authoritative, tear-jerking, educational, controversial or baby- and animal-filled. One of the reasons for the various views is that researchers have often looked at only popular videos and did not compare the popular clips with the content almost no one saw. To see if they could clarify some of the contradictions, the authors examined a mix of popular and unpopular videos, then systematically coded and empirically tested the effect of each element on some relatively objective and observational measures of viewer engagement. The authors assigned a team of research assistants to watch 750 videos and to independently score each on a range of attributes. Did the video feature babies, attempt to be funny or use sexually suggestive content? How would watching the video make the typical viewer feel? They collected information on dozens of different video elements and correlated these with three measures of engagement: the number of times people left comments on the video, the overall "liking"index for each video (calculated by subtracting the number of "dislikes"from "likes") and the number of views. The authors' key finding? Emotionally surprising videos generated liking and views more than any kind of specific content element they studied. The authors also looked at novel and incongruous content and found that both were associated with feelings of surprise, which increased views and liking. To get viewers' attention by surprising them, marketers have two good choices: Show viewers something they have never seen before, or show them two things they are familiar with but in an original, juxtaposed way. This is an MIT Sloan Management Review article.
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 Creating Online Videos That Engage Viewers
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 Creating Online Videos That Engage Viewers 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 Creating Online Videos That Engage Viewersindustry.
- Identifying the market share drivers relevant to Creating Online Videos That Engage Viewers 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.
Creating Online Videos That Engage Viewers - 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.
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