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Business Plan : Assignment Sample

   

Added on  2021-01-02

10 Pages2713 Words216 Views
BUSINESS FUTURE

Table of ContentsINTRODUCTION...........................................................................................................................1The social media as a core competence for competitive advantage in business..............................1Social media platforms as effective internet marketing tools for businesses..................................2Impact of social media on the profit margin of Amazon in the last three years..............................4Future of social media and its implications for business in the next five years ........................5CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................7

INTRODUCTIONThere is a great impact of social media and its platform on businesses and life of peoplewhich helps to connect people with their other family members and help business to increasetheir sales. The report will demonstrate the social media as a core competence for competitiveadvantage in business associated and Supported with industry examples. In addition to this, keysocial media platforms as effective internet marketing tools for businesses in the UK byproviding some examples to support position will be discussed in this report. It is stated in thisreport that social media is a emerging platform for both customers and businesses. In respect tothis, the impact of social media on the profit margin of Amazon in the last three years and thefuture of social media and its implications for business in the next five years will be discussedand supported with relevant examples.The social media as a core competence for competitive advantage in businessThe social media as a core competence for competitive advantage in businessIt can be said that social media is a competitive advantage for business that it helps to promoteoperational activities and products and services in order to increase profitability and production.The internet created a broad range of network for businesses that helps to achieve effectivecompetitive advantage (Wirtz, Ullrich and Göttel, 2016). It can be said that social media plays amajor role in business plan which helps to bring customers and company both together ininnovative ways effectively. Social media advantage will also help towards effective use ofavailable resources. It is a powerful tool which provides success chance for business. In respectto this, there are so many advantages and benefits of social media advertising and promotion.Some of them are discussed below:Market your business: Social media services will help business to drive their message out to thelocal and international public. This will also help customers to take information regardingbusiness products and services. It can be said that it is a important aspect of every brand that howwill they provide better services as compared to any other. Accounts such as Facebook, Twitter,Instagram, LinkedIn and Bingo will help business to promote their products in front of everyoneeasily and effectively. Engage customer: Social media is a place where business can easily interact with theircustomers that helps to increase customer satisfaction and loyalty (Schaltegger, Hansen andLüdeke-Freund,2016). This will help to create a sense of community to consumers in the market.1

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