logo

Social Networks in Business Research

   

Added on  2020-03-04

13 Pages3171 Words490 Views
Running head: BUSINESS RESEARCH Business ResearchName of the Student:Student ID:Author Note:

1BUSINESS RESEARCHTable of Contents1.0 Introduction..........................................................................................................................32.0 Project Objective..................................................................................................................33.0 Project Scope........................................................................................................................34.0 Literature Review.................................................................................................................44.1 Advantages of Using Social Networks in Business.........................................................44.2 Disadvantages of Using Social Networks in Business.....................................................75.0 Conclusion..........................................................................................................................106.0 References..........................................................................................................................12

2BUSINESS RESEARCH1.0 IntroductionOver the last few years there has been a vast development of social networks all across theglobe. Websites like Facebook, Twitter, Linkedin, Pinterest, and WhatsApp are the importantsocial media services companies that do social media optimization and have gained immensepopularity in the last decade (Zhou, Zhang and Zimmermann, 2013: 61-68). It is noted thatabout 1.5 billion of the total 7 billion people in the world have Facebook, thereby making thewebsite a destination for marketing of goods and services. Further, the technologicalexpansion has provided business organizations with several growth opportunities as well.According to Salpeter and Morgan (2013: 261), as compared to any other metric, socialnetworks are recognized as a revolution in a business. However, the innovation also tends tohave a few limitations that adversely impact its success. Advertising and marketing areperfect complements and different sides of the same coin. This particular project takes into consideration the various advantages and disadvantages ofusing social networks in a business firm. Further, various reviewed journals are utilized tounderstand and learn about the aspect in a detailed manner. In addition to a detailed insighton the topic, various examples and real facts have also been included in the report as well. 2.0 Project ObjectiveThe objectives of the project are as follows:1.To study about the advantages of using social networks in business.2.To study about the disadvantages of using social networks in business. 3.0 Project ScopeIn order to learn about the various pros and cons of using social networks in a business,various journals have been studied. Additionally, several real life situations have also beenanalyzed to learn about the topic as well. It is noted that there exists various gaps in the

3BUSINESS RESEARCHexisting literature. Authors of journals have not only missed out on major points, but alsohave been biased in stating the advantages or disadvantages of social networks. On the otherhand, very few examples have been used to refer to the growth of the concept in the modernworld. This particular project attempts to fill up the gaps and effectively reach to a conclusionon the use of social networks. 4.0 Literature Review4.1 Advantages of Using Social Networks in BusinessAs per Zhou, Zhang and Zimmermann (2013: 61-68), with the prominence of digitalmarketing, various organizations are exploring how social networking would help indeveloping capabilities and business as a whole. It is noted that websites like Twitter,LinkedIn and Facebook have completely changed promotion and advertisement techniques.Further, it is often that companies tend to direct customers to their social networking sitesrather than asking them to learn to open their own websites. There are favourablecircumstances to build up a stronghold market through online networking. Unlike the articleof social commerce research, Hulsink, Elfring and Stam (2016: 412-618), states that therealso exist various drawbacks that impact marketing and distribution of goods.The most influencing advantage of web-based social networking sites is lessening operationalcosts and expanding global reach. The cost of a social media stage is ordinarily lower thanother advertising mediums (Tokarcikova, 2015: 37-41). Also, social networks enable firms toreach clients who may not accessible due to their geographical location or due to thelimitation of the existing supply channel. It is noted that online platforms not only expand thereach of companies, but also lower operation expenses by three areas of advantage. According to Jerman and Završnik (2015: 28-45), firstly, organizations can provide theirtarget customers with unlimited information without a proper human interaction. As

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Advantages & Disadvantages of Using Social Networks
|16
|3376
|48

How Social Media has Changed Marketing: A Case Study of Clark Automotive
|9
|1587
|173

Business Research | Assignment
|20
|3254
|66

HI6008: Assignment On Business Research Project
|20
|4098
|51

CTEC2121 Social Media Assignment: Safety of General Public
|17
|2935
|84

Advantages and Disadvantages of Using Social Networks - Woolworths Case Study
|10
|2106
|246