Pros and Cons of Social Media (Doc)

   

Added on  2020-05-16

12 Pages2438 Words131 Views
RUNNING HEADER: Pros and Cons of Social Media1Pros and Cons of Social Media in BusinessStudents name:Student ID:Date
Pros and Cons of Social Media (Doc)_1
Pros and Cons of Social Media 21.IntroductionIn the contemporary world, social media is one of the essential parts of every individual since it provides a platform for people to communicate with millions of people across the world. The spread of social media systems has been made possible through the spread of internet technologies. Thus, the barriers to social media are very limited. Social media has provided a platform through which businesses can flourish and grow progressively. Some of the companies which have used social media to expand all over the world include Titan, Adidas, and Toyota among others (Aral, Dellarocas & Godes, 2013, p.5). However, there are debates from various factions on whether social media is improving or hand capping businesses. The following research aims to determine the rewards and the drawbacks of social media networking for a business to grow. The following research will take aim at exploring how social media and networking strengthens or weakens a firm in the business environment. The research will focus on the advantages and the disadvantages of social media. The scope of the research will provide a basis for establishing and elaborating on the benefits of social media.2.Project ObjectiveSocial media has become a necessary component in the growth of the business. The research will aim at examining the advantages and disadvantages of social media networking in the business environment. For a firm, business or organization to expand, the company needs to leverage on social media in order to get competitive advantages through constant interactions with its customers and clients.3.Project scope
Pros and Cons of Social Media (Doc)_2
Pros and Cons of Social Media 3In this study, the data will be collected from random people. As a result, the conclusions from the data analysis will be associated with the opinions of random people. Moreover, the research will target a total of 200 participants.4.Literature Review The platform of social media is considered as a new trend. It is a quickly progressing platform in which businesses are able to target customers in the easiest manner. The social media network is assisting various companies to promote their products and services. Marketing through the social media is a division of online marketing which aims at accomplishing a required target over and above newsletters, e-mails, and online advertising campaigns. According to Smith et al. (2012, p.105), there exist a variety of social media sites which have various forms and features. For example, one of the most popular social media platforms is Facebook which was introduced in February 2004. From a current evaluation, Facebook currently has more than 900 million users who are active. The second largest social media site is Twitter, which uses a combination of microblogging and social networks (Borges, 2009, p.11). Through Twitter, its users are given a platform in which they are able to share real-time experiences. Facebook and Twitter are among the most valuable social media sites since they areused by many people. Such benefits are derived from the ability of social media to convey messages to a large number of people at one time (Teece, 2010, p.174).a.Pros of social media networking Businesses across the world are finding social media very beneficial. Companies are able to attract customer, promote their products and services in the market, and build their market position (Hajli, 2014, p.408). Social media provides the ability to market goods and services for
Pros and Cons of Social Media (Doc)_3
Pros and Cons of Social Media 4free, unlike traditional marketing campaigns which spend millions of dollars. Thus, social media enables a business to run with little or a minimum budget (Hudson &Thal, 2013, p.172). On the other hand, social media offer marketers with the ability to target audiences and customers on the basis of the personal interest of site users leading to cost efficiency, better customer relationship, expansion of customers, brand awareness, and enhancing of the exposure of the company (Jain, Joshi & Shashi, 2014, p.1). According to Dron et al., (2014, p.23), social media networking allows customers to give feedback to the company regarding their services and products thereby giving the company an opportunity to improve their products. Through a provision of the medium of interaction, social media assist in executing both internal as well as external communication platforms (Nadeem, et. al., 2015, p.437). Enhanced communication assist in improving decision making, and amplification of business contacts.Analysis made show that the shopping market is flourishing through the efficient players of online business. There are numerous business and companies which have leveraged their operations on online businesses. According to Haythornthwaite (2005, p.127), Amazon is the largest online business market in the world as it sells more than 26 billion items on a peak day. Amazon provides a platform for customers to select a vast variety of items at the comfort of theirhomes. b.Cons of social media networking On the negative side, social media networking has a huge range of negative risks. The risks range from cyber attacking, security issues to hacking. According to the paper by Nadaraja & Yazdanifard (2013, p.32), social networking augment the possibilities of hacking and increases security costs through the adaption of firewalls to avoid hacking. Huge numbers of
Pros and Cons of Social Media (Doc)_4

End of preview

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

Related Documents
Advantages and Disadvantages of Social Networking in Hotel Industry
|17
|4481
|179

Pros and Cons of Social Media for Business Entities
|6
|1245
|75

Advantages and Disadvantages of Social Network in Business
|3
|1035
|487

Advantages and Disadvantages of Social Media - (Doc)
|11
|2438
|96

Research on Using Social Media in Food Business in Australia
|11
|2821
|45

Advantages and Disadvantages of Social Network in Business
|9
|2909
|436