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EDMI003.pdf

Article Title : Analysis from Competitor's Perspective: Comparing the Opportunities and Risks of Using TikTok in LEGO's Digital Marketing
Author(s) : Yutong Wang, Qiuyu Luo, Yu Hao, Yuanqin Guo, Yuanzhe Li
Corresponding Author : Yuanzhe Li
Keywords : TikTok; Digital Marketing; Opportunities and Risks; LEGO Marketing; Disney Marketing.
PDF : http://download.BCPub.org/proceedings/2021/EDMI2021/EDMI003.pdf
Abstract

In the context of the digital economy, short video platforms, represented by TikTok, are becoming the new infrastructure in digital marketing, and it is important for business owners to allocate more budget to short video platforms and find new ways to grow through new infrastructure such as live streaming and short video platforms. With the personalised recommendation mechanisms of the platforms, brands can provide users with more accurate content, or more targeted and relevant advertising, or even tailored experiences through upgraded loyalty programmes. This paper analyses the opportunities and risks of using TikTok in LEGO's digital marketing from a competitor perspective of Disney. The three key strategies including creating brands' own channel and breaking news; utilizing influencers to attract much broader audience; and utilizing TikTok’s hashtag challenges are suggested. As short video platforms have already become the mainstream in people's work and life, LEGO shall take up its strength to provide multiple marketing capabilities and bring new business possibilities as well.

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