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Explain the potential of social media and related developments under the banner Web 2.0 for helping a small or medium-sized business (SME) to communicate with customers and to share knowledge between its staff. You can choose which industry the firm

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Today, te latest version of the web is immensely viewed as a platform that is catering to interaction, inovation and even online delivery of services (Petrassi, 2008, pThe emergence of businesses via the Internet due to the evolution of the Internet has significantly created an imbalance of power in the marketplace. Ging by Porter’s five forces model, i can be simply said that the web 2. 0and the emergence of various business on the basis of it has significantly provided a lot of power to the buyers and the Internet, cnsumers can access feedback for the products that they are willing and interested to buy simply by visiting some websites or product related blogs (Barefoot and Szabo, 2009, p This has, i return, pomoted high levels of diminishing customer loyalty for any particular brand (Governor, Hnchcliffe and Nickull, 2009, pThe emergence of web 2.

0provides a great window of opportunity for companies around the globe. Te companies can display their products to a global audience while also promoting their products using various extensive Internet applications, tereby increasing of involvement (Roughley, 2007, pAs of today, cmpanies are making their presence felt on the social networking sites and are increasingly rolling out online marketing campaigns in an attempt to increase the degree of involvement for the consumers, wich helps in increasing their marketing potential (Lincoln, 2009, p The web 2.

0provides the online marketers with the opportunity to create advertisements that are engaging, etertaining, iformative and creative at the same time (Tuten, 2008, p This helps in creating a viral effect for the marketing campaigns of companies 2009, pThe evolution of web 2.

0has provided the business organization with the chance to engage consumers in a direct interaction process. Trough the application of various tools and processes, mny small, mdium and large business organizations have got the chance to develop an increased level of consumer awareness through the process of mutual interaction, wich has, i return, cntributed to the development of the increased rate of customer and consumer satisfaction (McKinseyQuarterly. Te evolution of Web 2. 0has provided individuals and businesses all over the world a unique that is highly beneficial to the development and evolution of the human and business processes.

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preview essay on Explain the potential of social media and related developments under the banner Web 2.0 for helping a small or medium-sized business (SME) to communicate with customers and to share knowledge between its staff. You can choose which industry the firm
  • Pages: 7 (1750 words)
  • Document Type: Essay
  • Subject: E-Commerce
  • Level: Undergraduate
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