Social Media Websites (Research Paper Sample)

Social Media Websites and Customer-Generated Content to change the way Marketers operate?
Contents TOC \o "1-3" \h \z \u Executive Summary PAGEREF _Toc321877709 \h 31 (A) Introduction PAGEREF _Toc321877710 \h 4Prologue PAGEREF _Toc321877711 \h 4Concept of E-commerce PAGEREF _Toc321877712 \h 4Concept of E-Marketing PAGEREF _Toc321877713 \h 4E-Commerce and E-Marketing PAGEREF _Toc321877714 \h 5Social Media & Today’s Business Environment PAGEREF _Toc321877715 \h 51 (B) Overview of the Company PAGEREF _Toc321877716 \h 6The Amazon Case PAGEREF _Toc321877717 \h 6Amazon.com Inc., PAGEREF _Toc321877718 \h 6(2) Investigation and Analysis of Facebook Page PAGEREF _Toc321877719 \h 8A Company on Social Media website PAGEREF _Toc321877720 \h 8Facebook.com/Amazon PAGEREF _Toc321877721 \h 8Other Important Aspects PAGEREF _Toc321877722 \h 10Social Networks and Consumers PAGEREF _Toc321877723 \h 12Amazon’s Facebook Connect PAGEREF _Toc321877724 \h 12Amazon – Facebook & e Commerce – e Marketing PAGEREF _Toc321877725 \h 12Facebook issues and concerns PAGEREF _Toc321877726 \h 13Long Term Relationships with Facebook PAGEREF _Toc321877727 \h 13Recommendations for Small Business PAGEREF _Toc321877728 \h 14Conclusion PAGEREF _Toc321877729 \h 15Bibliography PAGEREF _Toc321877730 \h 16Appendix PAGEREF _Toc321877731 \h 18
Executive Summary
Social media websites have changed the way companies used to operate in the business environment. It has increased the competition by giving access to companies all over the globe. Marketers are now required to make innovative and creative media and advertising strategies which can be targeted to any segment across the globe. Adding to that, consumer generated content is a very direct way in order to know the preferences of consumers and their likes & dislikes. Marketers have to look and find a pattern out of the blend of the social media and consumer generated content in order to target right customers. This report presents case of such a company, which is using social media website (Facebook) and unifying it customer generated content in order to target the potential customers in a different way. Managers have to go round the way in order to find a clear picture of the consumer choices and preferences.
1 (A) Introduction
Prologue
Concept of E-commerce
Continuous technology and breakthrough innovation has enabled businesses to use amazing ways of doing businesses. Electronic commerce has enabled different companies to find and reach their customers across the globe. Today, many companies have virtual presence in almost all countries of the World. And this all is possible due to effective use of Electronic commerce. Electronic commerce as defined by Turban, Lee, King, & Chung CITATION Tur09 \n \t \l 1033 (2009) is an emerging concept that describes the process of buying and selling or exchanging of products, services, and information via computer networks including the internet. While market in terms of electronic commerce is a network of interactions and relationships where information, products, services, and payments are exchanged CITATION Tur09 \p 36-39 \n \y \t \l 1033 (pp.36-39). Meng CITATION Men09 \n \t \l 1033 (2009) says that e-commerce should emphasize three main important points. First, e-commerce has business background because it is a business model. The second is that e-commerce has particularly internet characters because it is based on network background, especially the presence of internet in order to make the business activities operational. Third important characteristic is that e-commerce has electronic (numerical) character because that the information in the e-commerce is transmitted by the electronic form.
Concept of E-Marketing
E-marketing is the field in which agency or organization uses the modern communication technology methods to exchange the potential market into reality market. E-marketing is considered as an important part of the whole marketing strategy, and it is a kind of marketing tactics to realize the marketing goals based on the internet. Internet marketing or the e-marketing enable the companies provide continuous services in the every step of products pre-selling, products selling and products after-selling. It runs in the whole process of business operations and includes the search for new customers, as well as services for old customers CITATION Men09 \l 1033 (Meng, 2009). Ultimate goal of the e-marketing is same as the concept of satisfying customers in the marketing. Meng CITATION Men09 \n \t \l 1033 (2009) says that e-marketing is the process based on modern marketing theory and uses of internet technology and its function is to meet needs of the customers, in order to realize the goals of developing new marketing and increasing operating profits.
E-Commerce and E-Marketing
E-marketing is an integral part of the e-commerce, and e-commerce includes e-marketing. E-marketing can be considered as an important way of implementing e-commerce. E-marketing is the method of the enterprise management to realize commodity exchange; obviously, it is the very important and basic internet business activities of the enterprise e-commerce activities. E-commerce e-marketing CITATION Men09 \l 1033 (Meng, 2009) refers to a new comprehensive marketing model which is based on e-commerce and uses every kind of e-marketing methods and means to achieve online business activities. E-commerce e-marketing can be thought of as an integrated method to coordinate online business management and transaction activities. The diagram below shows how e-commerce and e-marketing combines to present a relationship of e-commerce, e-marketing and e-commerce e-marketing CITATION Men09 \l 1033 (Meng, 2009):
Social Media & Today’s Business Environment
Social media relates to the sharing of information, experiences, and perspectives throughout community-oriented websites, is becoming increasingly significant in the online World. CITATION Wei09 \l 1033 (Weinberg, 2009).
Pride & Ferrel CITATION Pri11 \n \t \l 1033 (2011) say that one of the most important benefits of e-marketing is the ability of marketers and customers to share information. Through websites, social networks and other digital media, consumers can learn about everything they consume and use in life. These media provide feedback mechanism through which customers can ask questions, voice complaints, indicate preferences and otherwise communicate about their needs and desires. Nielsen Marketing Research finds that consumers usually spend more time on social networking sites than e-mail and the gap is growing.
1 (B) Overview of the Company
The Amazon Case
Amazon.com Inc.,
Amazon is America’s well known online retailer company, which has business operations in electronic commerce domain. Amazon () focuses on Amazon Marketplace, rather than putting effort into Auction section of its website. It let customers’ list items at a fixed price to sell books, music, movies and electronics. Amazon had started as an online bookstore, but soon it increased its portfolio by selling Video games, electronics, DVDs, CDs, MP3 downloads, software, apparel, furniture, food and toys.
Classification (Sector of the organization)
Amazon provides retailing transactions to its individual shoppers and thus comes under classification of "Business to Consumer (B2C) type of business.
Key customer groups:
Consumers who want don’t bother to physically go to market and purchase specific goods and services are potential buyer of Amazon. Using Amazon, a customer can select any available desired good and/or service and get it delivered at home.
Products / Services offered:
Amazon has extended to wide range of products offered, which include books, software, consumer electronics, kitchen items, CDs, DVDs, MP3s, tools, lawn and garden items, baby products, sports goods, apparel, toys and games, computer video games, gourmet food, jewelry, watches, beauty-care products, health care products, personal care products, musical instruments, groceries and some industrial supplies.
Virtual Community:
Amazon gives an opportunity for users to express their views regarding the product or service offered at the website. People who have purchased any product can share their thoughts regarding the product with the other users of Amazon. A sample of Customer Reviews page is shown in Figure 1.1b in Appendix. The Review page gives the statistics of the review i.e. Total number of reviews for each rating. There are 5 categories of ratings ranging from best (5) to worst (1).
Information about Products
Amazon provides extensive information of products offered on its website. The product description pages all information one can possibly require. The product pictures are large enough to clearly check the product condition. Figure 1.2b in appendix shows the first section after the product specification. This shows the features and benefit that customer can obtain using that product. Figure 1.3b shows specifically the section regarding the technical details of the product.
On the same page, Amazon provides the facility of comparing current product with other products of the same nature, type and specifications. This comparison includes product specifications, condition and prices etc.
Promotion of Products
Amazon promotes its products using email marketing – sending newsletter updates to its subscribers. Also, there are different social media websites i.e. Facebook, Twitter, etc. through which Amazon promotes its products to the virtual community of users.
Links to other Channels:
Amazon provides wide range of links of different channels to look about the product information. For example, to download audio books the link provided is of "Audible”. For detai...