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Renren website - Term Paper Example

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E-commerce Abstract During the early 1990s internet started to impact the global economy to a large extent. Organizations had also understood the fact that, internet is one the best medium of carrying out the business in a cost effective way and directly selling the products to the end user, thereby restricting entry of any third party…
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Download file to see previous pages One such example is the social networking websites. It not only embraced large number of users, but also has been able to grab the attention of the marketers. This is the reason why we find several social networking websites operating in the market place. Nowadays organizations around the world make substantial investments in the social networking platforms and utilize it as a promotional medium. The report will therefore mainly focus on the happenings of social networking world. In this regards the Chinese social networking giant Renren will be used as the social networking website. Furthermore the report also proposes to offer a comparative analysis of Renren and Facebook. Now since the report will follow a ‘funnel format’, it will commence after defining the broader terms. Once the broader terms have been illuminated, the report will shed light on the main discussion area. The discussion area will therefore cover various aspects of Renren such as its risks, threats, opportunities, strengths, weaknesses, competitors etc. Most importantly, the marketing aspect of social media and Renren will be also emphasized. The discussion part will end after comparing Renren with Facebook. Finally the report will conclude and will also offer few recommendations. Table of Contents Introduction 4 Social networking: A brief Overview 4 An introduction to Renren 4 An Introduction to Facebook 5 Discussion 5 SWOT Analysis 6 Risk Factors 7 Sources of Revenue 7 Competitor Analysis 8 Consumer Analysis 9 The Marketing aspect of Social Media and Renren 9 Renren Marketing Aspects 10 Differences between Facebook and Renren 11 Application Differences 11 Interface Differences 12 Recommendations 13 Conclusion 13 Introduction The concept of internet was initiated in the early 1950s when the electronic computers were developed. After the introduction it passed through various development stages and finally was commercialized in the year 1992 (Majumdar, Cave & Vogelsang, 2005, p.346). The primary rationale behind the commercialization of internet was to enable the users to share information and resources over the networks. Also communication was an important aspect of the internet. Once it got commercialized, human being witnessed the rapid growth and use of internet throughout the world (Reynolds, 2004, p.5). The rapid expansion most occurred in parts such as Australia and Europe. They were the earliest adopters of internet. Since the year 1990 interned has been able to impact the daily life to a large extant. Mostly the culture and the trading activities were highly impacted. Some of the important applications of internet include instant messaging, e-mail, two-way interactive video calls, phone calls, social networking, World Wide Web with its conversation forums, Voice over Internet Protocol (VoIP) blogs, and online shopping. Thus internet has now become important in all the facets of civic, political and social life. Among the aforementioned application, social networking has been able to drive huge number of users towards them. Hence before proceeding towards the main discussion of the project, a brief overview of social networking is presented below. Social networking: A brief Overview A social networking service is based on providing services through online platforms. Social networking services are also the websites that helps to build social relationship among the people. In ...Download file to see next pages Read More
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