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Marketing And Social Media - Essay Example
It needs to be mentioned that this has increasingly resulted in the creation of a platform for diffusion of various trends of globalization. The new trends of globalization are increasingly creating the birth for various kinds of needs in the minds of the consumers…
Talking about the social networking sites, it can be said that the growth of the social networking sites has been largely augmented by the tremendous favoring of the growth prospects of the United States.
Like as witnessed in the case of dotcom bubble of the late 1990’s, the mere presence of the social networking sites in the virtual web space does not help in any way in the process of generating revenue. Every social networking site needs to operate on the basis of a business model, which will help in generating revenue for the online business. It is of significant and utmost importance to mention that the business models that are applicable in the case of social networking sites should not only focus on the process of generating monetary value, but also on the lines value creation, identification of the core competencies of the online business as well as proper value communication to the right target audience. Considerable amount of interest also needs to be given on the lines of creating competitive edge for the online business.
It is of considerable importance to mention that an online business is built on four key model components. The first one is the value creation, which distinguishingly addresses the value that will be provided to the customers. The second factor is the issue of target market, which necessarily takes into account the factor of the desired target audience. ...