Amazon had to build a product or a service for the problems company suffered or to attract more customers. As they built products and services from scratch, they spent millions of dollars in research and development which was vain in few ventures. 2. In recent years, Amazon as part of its diversification strategy has been “spreading itself too thin” meaning that it has allowed its focus to waver from its core competence of retailing books online and allowed itself to venture into newer focus areas. While this might be a good strategy from the risk diversification perspective, Amazon has to be cognizant of losing its strategic advantage as it moves away from its core competence.
Also, in numerous commercial ventures no some piece of that picture is more essential than how individuals might suspect a company's customer service is. Customer Service is turning into a great deal more than an 'industry trendy expression' as extensive companies who treat their customers inadequately are beginning to lose customers right and left. So it’s generally been imperative for companies to give good customer service. A measurement says individuals will impart a constructive experience to a normal of five individuals and will impart a bad experience to a normal of nine individuals. Today with online networking, the word spreads a considerable measure further and achieves hundreds if not a great many individuals.
• Enhances Social Engagement Social Media Marketing is believed to be an effective tool for bolstering and improving engagement. The reach of Social Media enhances further with the use of compelling visual content. Reports suggest that businesses were able to generate over 65% more engagement when they used visual content in their Facebook campaigns. Social Media Marketing is indeed a powerful tool that helps improve engagement and interaction. Visually compelling content enhances the power of Social
1.What are the pros and cons of establishing a business presence in social media? Everything has its pros and cons, including establish your business in social media outlets. The pros will be social media can help you to increase your customer base. Instead of renting a shop and waiting people to come, by using social media, you can post your product or services online and promote it to everybody including some potential worldwide customers. Next, it save cost.
Purchasing power : There is a positive correlation between person’s income and his purchasing power thus more income means more purchasing power which results in frequent buying. List advantages of operating online: Advantage How will you leverage the advantage? Easy access to the market there are many websites available for sellers which helps them to sell their product online within a short period of time such as eBay, Amazon and so on. Potential for quick growth it is easy to obtain a high rate of returns in short time with the help of e-sales with the use of good digital market strategy. Widen market online selling plays vital role in expanding the size of the market because the internet makes world global village.
People are more likely to buy when they have received customer reviews and/or recommendations from friends/family; having social media can help companies to take advantage of this phenomenon . When a company has computer savvy employees they can use that to their advantage by having the employees create a company-related events and make positive statements on social media about the upcoming company events and make positive statements about the organizations activities. By having employees use social media it is helping the organization market to a larger audience, but does it in a way that is the most trusted and valued more than any advertisement . Social media sites are not to be taken lightly, because it has a huge power shift in favor of the consumer.
Teo et al (2003) proposes a research in order to study the influences of interactivity level on web users’ attitude towards social media. In additions, companies can use the social media as an advertising method in order to make sales doubled. Since the amount of social media users are increasing day-by-day, the effectiveness of propaganda is better than traditional one-way advertising. Online advertising can build relationships with customers in different industries, through social networking site advertisement, customers can make an immediate response, it breaks the traditional one-way advertising method to help companies understand customer requirements and needs and to make appropriate adjustments in the future campaign. Social media sites including Facebook, YouTube, Twitter, Weibo and so on, their users were asked to register.
Now, the situation is fast changing as social platforms have matured a lot since inception. They are proficient to enact multiple roles (for example - sell, inform audiences, etc). Audiences prefer to follow companies on social channels to stay updated about the recent developments. In the recent times, the interactions are based on sweepstakes and promotions that boost activation. When different social channels are an integral part of the ‘shared’ piece, it is important to consider a PR strategy that include a paid component as well.
Moreover, as online purchasing trend is increasing, adoption of effective online marketing strategy is important for businesses as it is the means of reaching millions of customers all over the world. It is noticed that online marketing strategy influences the customer buying behaviour either positively or negatively (Dennis, et al., 2009). This is because customers grab the image of the brand as it is shown to them on the online media. There are some of the characteristics of online customers, which include direct information seekers, bargain hunters, undirected information seekers, directed buyers, and entertainment seekers. It is important for the organisations to consider these characteristics within their marketing strategy so that larger amounts of customers are attracted.
One of the big advantages of the online social media, (portals, instant messaging and interconnected handheld devices, to get in contact with wider online audience. Employing the multiple number of online platforms and channels gives more power to reach, and therefore influence, more consumers than ever. started marketing game before the actual game was launched, so through the marketing you are generate the interest before this game came out. There are three steps to have marketing success and the first is to create marketing irresistible promotional materials, pieces of marketing content so alluring that they compel sharing and discussion, without them the marketing is not that much affective tool. And these are type of marketing that you