Marketing in a Digital World , week (1-4) All Quiz Answers with Assignments.

Marketing in a Digital World

Week 1 Assignment :

1. Is Threadless a success or failure?

Threadless was one of the principal Internet-based, custom-garments organizations, and it for the most part contends with organizations that either empower user creation or pick structures by rivalry. In view of the idea of co-creation, it was one of its sorts when it was begun in 2000. In my opinion, Threadless is a success because -
1. Threadless has been effectively working in the course of recent decades. 
2. The organization had more than 2 million enlisted clients on their site, got more than 69,211 entries, and printed structures from 289 craftsmen it has one of the biggest fashioner client networks. 

2. How does today's digital world impact (both positively and negatively) Threadless' co-creation strategy?

Threadless's co-creation strategy has had very significant positive and negative impacts in today's digital world.

- 4.57 billion are on the internet which is 59% of the all-out populace contrast that with 5 years prior with 3.6 billion individuals, more individuals are on the web in this manner the market for threadless has expanded hugely. 
- With the world moving more towards the advanced time, a ton of free apparatuses is accessible on the web for making astonishing plans without having any specialized information consequently making it simpler for individuals to contribute. 
- With the ascent of internet-based life, sharing has gotten simpler and straightforward, an ever-increasing number of individuals like to share and make new things, this could raise a positive domain for the organizations dependent on co-creation, for example, threadless. 

3. How could Threadless improve its co-creation strategy? What tactics or tools could they use to enhance their success?

Co-creation literally means allowing the customers into the floor of innovation and creation and not just as end-users. 

- Instead of the fixed payment for the chosen design, the specific percentage of the sales should go to the consumer who designed the T-shirt. This will encourage the artists as well to establish their own fan base and market. 

- The motivation for people to upvote any design is necessarily not there. If it has a specific incentive for the people to engage in these platforms, it will encourage them as well. 

- Customer ideas should not be directly dismissed but should be appreciated otherwise the customer would never return to the brand ever again. Communicating with the customers is really important and should act up or at least acknowledge the complaints of the customers.  

Week 2 Assignment :

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1. What are the secrets behind the success of GoPro's UGC strategy?

GoPro is one of those businesses that have successfully implemented the UGC strategy for promoting itself in recent years. The following are the reasons for its success:
1. It provides incentives to the customers who have contributed a lot to GoPro's USG strategy.
2. It also arranges different contests to motivate the customers for sharing their videos.
3. The customers can easily contribute to the company's strategy because they don't have to make new videos for these contests.
4. The company is also supporting the beginners through posting guidelines on its website. 

2. What lessons can other firms learn from GoPro's UGC strategy?

Other firms should keep in mind the successful initiative of GoPro and example of hundreds of other UGC adopting firms. These firms have moved from the traditional methods of promotion to the more digital ones and some are still adopting a mix of both promotional methods to cover a much wider audience. Therefore, other firms who are still relying upon the commercial TV ads should realize that it is no longer an effective way of convincing the potential customers. And so they also need to look for revisions in their promotional strategies by adopting more digital ones- such as UGC- as potential 
customers are more attracted towrsds such advertising methods. 

3. How could GoPro improve its UGC strategy?

I think GoPro can be better able to influence the customers if it rewards all the UGC contributors whether they are praising the company or are suggesting some improvements to GoPro. Doing this will make customers realize that these UGCs are not bais and will be more motivated to make purchases by seeing a majority of positive reviews. Moreover, the GoPro can adopt a lot of recent studies and researchers that have suggested several ways to improve UGC as a way of doing promotion. Also, they could rent out some new cameras to the frequent buyers in return of reviews as it will motivate the 
customers to do frequent purchases and also to try out new cameras that often lack reviews because of fewer reviews.

Week 3 Assignment :

1. What role do digital tools play in Tesla's retailing strategy?

Tesla uses the digital tools to market and sell their cars. One of the digital tools Tesla uses is its website, where you can apply for a Tesla test drive, Order for a new car or used one.

2. What are the pros and cons of this strategy?

Tesla as an electronic car itself moves away from the traditional form of cars, this makes Tesla a unique vehicle.Tesla’s retailing strategy also takes a unique form compensating the uniqueness of the car. Pros of the strategy. 
1- It is gives its customers a unique experience in purchasing a car. Cons of the strategy 1- Customers who still believe in the traditional way of purchasing a car will not be comfortable buying one online. The traditional way of going to the garage, rest driving it and negotiating a deal.

3. How can Tesla improve its retailing strategy?

Tesla can open more retail stores in malls to provide more customer service in case customers are being skeptical or have questions.

Week 4 Assignment :

1. Was Panera’s PWYW experiment a success or a failure?

Panera's experiment failed because it wanted to help but couldn't think of a way to do it without using that act as a way to grow the profit side of their business. That's helping Panera, not people with “food insecurity.”

2. Would the outcome have been different if Panera was selling a digital product?

This has been a difficult year for many fast-casual chains, as competition led to concerns about oversaturation, forcing some companies to slow development and others to close units.
Not so Panera Bread, which has apparently thrived since its $7.5 billion sale to the investment firm JAB Holdings.In a letter to employees, now-former CEO Ron Shaich—who ceded control of the chain to Company President Blaine Hurst on Jan. 1—detailed a chain that used a strong digital presence to improve sales last year.

3. How could have Panera improved its PWYW strategy? What digital tools could they have employed to enhance its success?

The key to business success is anticipating customer desire and reducing purchasing friction, says Panera Marketing SeniorVP Chris Hollander.The best way to grow your brand is to discover what your customers want and make it extremely easy for them to get it.
Think about how Panera grew from a single 400-square-foot store in Boston to 2,200 locations nationwide. Early on, we found that people wanted to be more thoughtful about what they were eating. But that’s easier said than done, especially when eating outside the home. So we began listing calories on all our menus (long before it was mandated) and offering clean foods.


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