Brand Dominance & Influencer Marketing Assignment Sample

Literature review: Introduction Of The Correlation Between Brand Dominance And Influencer Marketing

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The literature review includes a study of scholarly articles, surveys, and books, other relevant research on a particular topic (Narayanamurthy and Gurumurthy, 2016). The literature review recognizes the work done by preceding researchers; it helps readers to perform well-conceived research work. A literature review helps to gain knowledge of already available facts and development related to the field of the research topic. In this literature review brand dominance is explained which is the fact that consumers remember a particular brand when they hear a product category such as when it comes to luxury fashion brands then consumers will remember Gucci which is taken as case company for this research. Brand dominance can be created by building partnerships, prioritizing search engine optimization (SEO), embracing social media, and attracting product packaging.

The Importance of value

A literature review is very important in academic writing following points are given to understand its importance;

• It forms a bond among the readers: A literature examination helps to build a sense of bond among the readers of the research work. It also shows that the researcher has done a proper study on the research topic. As an effect, the literature review should include more articles, books, and other sources. This kind of literature review is more trustworthy to the audience.
• It Helps researchers to Avoid subsidiary Plagiarism

When a researcher is about to make the paper public, get to know that somebody has already published a research paper on the same topic with the almost same content. Then readers and audience will question the authenticity of a newly published research paper. In short, a researcher should utilize the time, efforts, money, and other resources on literature review in the initial step before writing a dissertation (Forcael et.al. 2020).

• It Sharpens Research Focus

As the researcher collects outside sources, the researcher will compress, evaluate, combine, and paraphrase the general idea of outside sources in the researcher's own words (Snyder, 2019). The literature review will help a researcher contrast and compare the work done with the historical work. It also helps to explain the difference between new research and past pieces of literature. Therefore, a literature review is necessary for shaping research with guiding the direction of the research.

The public interest and stakeholder relations

Recent marketing trends show that a successful marketing strategy helps the stakeholders through brand dominance with influencer marketing for the public interest. Brand Dominance refers to a situation where a strong emotional connection among the consumers and a brand (Batey, 2015). A brand with dominance for its product has an Audience that does not only refer the brand to its peers but also unites at the back of the brand to chase the growth of stakeholders. Brand dominance helps narrow down competition and strengthens profits of the stakeholders. Brand recognition and brand recall help in creating brand dominance if stakeholders are new to it, and should build a partnership with an already established brand to create dominant brand recognition. The already-established brands have a solid consumer base that can be used for the public interest by new stakeholders (Chandon et.al. 2022). For creating Brand dominance brand should prioritize SEO, it will make the brand appears at the top of the search engines when a consumer will search for the product. It creates the brand's image as a trustworthy and credible brand.

For creating brand dominance through social media, influencer marketing is one of the important tools, influencer means a person who can persuade others which increase the public interest. Influencer marketing is a type of social media marketing, for this stakeholder pays influencers to promote and create brand dominance for their product or service. The original way of influencer marketing was by Celebrity endorsements, But with time and increased use of digital platforms influencer marketing is done by social content creators. The content creator is chosen by stakeholders based on the niche audiences of the creator which can frequently offer new value to the brand. The small content creator is also selected because their followers or audience is more engaged and loyal to the creator.

The universal and the particular

The literature review will clear the relationship involving brand dominance and influencer marketing. The method of influencer marketing received a lot of interest recently. Influencer marketing is a new technique of marketing, the aim is to influence consumer taste and preference which will affect consumers' purchase decisions (Sammis et.al. 2015). Every generation’s consumer trust what social media influencer says about the brand rather than what the brand says about itself. Researchers have suggested that 76% of social media users are likely to have faith in brand-centric content created by ordinary people in place of the brands themselves. 63% of millennials trust what their favorite influencer review about a brand's product and services. There are various kinds of social media influencers such as micro-influencers, Nano- influencers, macro-influencers, and mega-influencers (Ouvrein et.al. 2021). Nano influencers are the ones who have 10,000 or fewer followers on their social media accounts. Micro-influencers have followers between 10,000 and 100,000 and macro influencers are the ones who have followers between 100,000 to 1 million such as travel creator jean lee. Mega influencers have followers of more than 1 million such as Gucci brand influencer Lele Pons with 44 million followers.

The value of conservation and regeneration in historic urban quarters

Influencer promotion has a great impact on the purchasing decision of customers Researchers have found several factors that claim to be the reason why consumers find social media influencers very influential in this time of regeneration. These factors also are the reasons for brand recognition and brand recall by consumers.

• Trust - The trust of followers in influencers can be vital and historic working from urban quarters to a brand's success. In most brand dominance instances, brands collaborated with influencers to endorse their product or service. Endorsement helps to enhance brand visibility and to build brand credibility in the eyes of potential consumers (Lee and Kim, 2020). Partnering with social media influencers will help brands get approval from more trusted sources, and deliver better brand dominance.
• Solo key reason behind the success of influencer marketing as brand dominance tool is that influencers have the capacity to persuade a huge number of viewers through their public media accounts. Many flourishing influencers have an army of loyal supporters that would trust every word of the influencer.
• Content - Influencer marketing is the main element of modern marketing strategy. SMIs have the power to customize their content for their followers and make it desirable for their audience. Social media Influencers spread good content on their internet accounts including Facebook, Instagram, YouTube, as well as TikTok (Kapitan et.al 2021). Influencers create content related to product reviews and recommendations, this will help in creating brand dominance, and in future it will encourage a consumer to purchase a particular product. The influencer creates an opportunity for brand dominance by creating authentic content to engage a new audience with to brand.
• Consumer Social Identity- The social identity of a customer decides the crowd that the customer is a part of or desires to be a part of it. As a consequence of this, the customer relies on the recommendation of the team members as this helps them to create a self-image that aligns with the group's social identity (Chuang, 2020). This influence persuades the customer to buy certain products because it makes them more alike to the human they want, for instance, an influencer.
• Attractiveness- Attractiveness refers to the popularity of an influencer that will create brand dominance in the market. It also includes the willingness of the consumer to implement the information provided by the influencer. Brand dominance is created by selecting the most popular influencers in niche product markets to influence the consumer purchase decision. When a consumer can come to know about a product on social media platforms and observe that a few well know influencers are also recommending it (Yang et.al. 2019). This automatically has an impact on the purchasing decision of the buyer in an optimistic way as a result dominance of the brand's product is established in the mind of the consumer. So that is why a brand should carefully choose its influencer for social media marketing; the right influencer will help in creating brand dominance over consumers' minds.

Implications for conservation / regeneration initiatives: the case studies

Gucci is an Italian luxury fashion brand, its marketing strategy helped in creating brand dominance in the fashion industry over a period of time. Gucci's marketing strategy target many different segments of the population. The brand aims to capitalize on trends — like that of collection market brands. To achieve this goal Gucci is using a mixed strategy which consists of more ready-to-wear items than its rival, such as Yves Saint Laurent. The following are key features of Gucci's marketing strategy-

• Classic vs. fashion-focused - The reason behind Gucci's brand dominance in the luxury fashion market is the right balance to attract the old customers and the younger age group. Gucci follows the 60:40 strategy, which means the strategy consists of 60 percent classic style and 40 percent trendy styles. In the past years, Gucci has shown incredible sales growth because of its marketing strategy. It made young audiences a priority, it lead to understanding the needs of the young age group and then acting upon them. Gucci focused on Millennials and Generation Z (Alexandra and Elena, 2019). Gucci realized that customers are buying products to look good on social media like Instagram so they collaborated with the best digital influencers to attract the consumers.
• Grab the consumer's attention with mesmerizing creativity - Gucci stands out in the use of social media network to carry out online advertising by creating much online publicity. Gucci's chief interests in social media platforms are Instagram, Facebook, Twitter, and online news. This has marketing segmentation shares of 67.9%, 23.6%, 7.6%, and 5.4% respectively (Hemantha, 2020). Gucci's marketing strategy also includes cross-border partnership, for instance, it collaborated with the famous cartoonist from Japan for its shop windows chain launch, which shows a connection between the comic world and fashion. In addition to this, Gucci collaborated with the well-known e-commerce site net-A-power to launch its exclusive capsule collection.
• Meme marketing - The key reason for Gucci's success is winning the heart of millennials through meme marketing. To appeal to every age group Gucci use some fun marketing tools as well. Recently Gucci used memes to promote its watches with the hashtag 'that feeling when Gucci’. Gucci is an adjective; it invited people to write about how they feel when they are Gucci.
• Interaction by content creation - A large component of the accomplishment of Gucci's promotion strategy is its concentration on content creation by social media influencers, particularly it’s identify more influencers to produce content together. The core of online promotion strategy for lavish products is to sell the idea; a brand with an extra famous idea will attract more consumers (Park and Rhee, 2021).

Summary of the Literature Review

A literature assessment is a part of academic writing that reveals the information and considerate of the scholarly literature on a definite subject placed in the background. A literature review is a full summing of all previous study on the subject matter. From the above investigation, it can be summarized that brand dominance and influencer marketing are correlated. Influencer marketing has a detailed role in the acceleration of the supremacy of any brand. The concept of Promotion by collaborating with famous personalities is a key success factor in the promotional strategy of many organizations including the case brand Gucci. This study also concludes that influencers have the power to influence the purchasing decisions of consumers and it is one of the best promotional strategies in today’s market. Gucci has used influencer marketing in the best possible way by creating a lance in its digital marketing strategy

References

• Alexandra, Z. and Elena, C.A., 2019. The Importance of Integrating Digital Marketing within the Sales Strategy of Luxury Brands. Risk in Contemporary Economy, pp.119-127.
• Batey, M., 2015. Brand Meaning: Meaning, myth and mystique in today’s brands. Routledge.
• Chandon, J.L., Laurent, G. and Lambert-Pandraud, R., 2022. Battling for consumer memory: Assessing brand exclusiveness and brand dominance from citation-list. Journal of Business Research, 145, pp.468-481.
• Chuang, Y.W., 2020. Promoting consumer engagement in online communities through virtual experience and social identity. Sustainability, 12(3), p.855.
• Forcael, E., Ferrari, I., Opazo-Vega, A. and Pulido-Arcas, J.A., 2020. Construction 4.0: A literature review. Sustainability, 12(22), p.9755.
• Hemantha, Y., 2020. Retaining the cachet of luxury fashion brands on social media through storytelling and narratives. IUP Journal of Brand Management, 17(3), pp.23-37.
• Kapitan, S., van Esch, P., Soma, V. and Kietzmann, J., 2021. Influencer marketing and authenticity in content creation. Australasian Marketing Journal, p.18393349211011171.
• Lee, S. and Kim, E., 2020. Influencer marketing on Instagram: How sponsorship disclosure, influencer credibility, and brand credibility impact the effectiveness of Instagram promotional post. Journal of Global Fashion Marketing, 11(3), pp.232-249.
• Narayanamurthy, G. and Gurumurthy, A., 2016. Leanness assessment: a literature review. International Journal of Operations & Production Management.
• Ouvrein, G., Pabian, S., Giles, D., Hudders, L. and De Backer, C., 2021. The web of influencers. A marketing-audience classification of (potential) social media influencers. Journal of Marketing Management, 37(13-14), pp.1313-1342.
• Park, J. and Rhee, Y.J., 2021. Analysis of digital marketing strategies of luxury fashion brands. Journal of the Korea Fashion and Costume Design Association, 23(1), pp.87-102.
• Sammis, K., Lincoln, C. and Pomponi, S., 2015. Influencer marketing for dummies. John Wiley & Sons.
• Snyder, H., 2019. Literature review as a research methodology: An overview and guidelines. Journal of business research, 104, pp.333-339.
• Yang, X., Kim, S. and Sun, Y., 2019, August. How do influencers mention brands in social media? sponsorship prediction of Instagram posts. In Proceedings of the 2019 IEEE/ACM International Conference on Advances in Social Networks Analysis and Mining (pp. 101-104).