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Research proposal - Assignment Example

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Why social media is important for marketing Table of Contents Table of Contents 2 Literature Review 3 Research Question 7 Research objectives 8 Research Methodology 9 Data Analysis 11 Findings and Conclusion 12 Reference 13 Literature Review It is important to mention that in today’s date, the social media has gathered a tremendous amount of importance in the recent times…
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Download file to see previous pages 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. The third aspect talks about the factor of core competencies which will help in leveraging maximum advantage in regards to the process of generating the business model’s potential strengths and opportunities in the market. The final aspect talks about the revenue prospects that need to be idealized for the purpose of developing the potential business aspects of the online business model (Albarran, 2013, p. 62- 63). It is important to mention that in most cases, though the online media provides free access and use of its online web 2.0 concepts, yet it can be said that the revenue is generated through the process of cost per impression (CPI), cost per contact (CPC), advertising, lead generation and even licensing deals. However, it is of considerable importance to mention that the technological devices are riding the wave of innovation and are increasingly transforming themselves in regards to shape and size. The bulky laptop and PC has paved the way for tablets and smart phones, thereby playing a major role in regards to device space and capacity. Business models of the online nature in order to keep their connect with the tech savvy masses increasingly are concentrating on the process of adopting their visual offerings of their online products and services. Due to the changing requirements of today’s technological gadget altering masses, the business models are being designed in the platforms of open source (Hinchcliffe and Kim, 2012, p. 8). It needs to be highlighted that the literature review forms a very essential and vital part of the entire research proposal. It can be said that while considering the process of moving ahead with the literature review area, a considerable amount of focus needs to be given on the research work that has been done by the past researchers on the same lines. While discussing about literature review, it can be said that the literature review might have been presented from various perspectives of ...Download file to see next pagesRead More
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