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The scenario of this business project is based on Tesco in order to analyze the implication of social media networking over its business. These kind of practices are used in business as a communication channel.
- Construct an introduction of business research including project objective and its scope.
- Determine information over the specified topic of research by considering literature.
- Design a research methodology by considering time schedule of research as well.
Social media networking can be stated as a communication channel which is being used by people to develop a social network or social relations. Along with this, companies can adopt this element in order to communicate with each other in much fast and effective manner.
- To understand the concept of social networking.
- To analyse the importance of social networking for TESCO
- To demonstrate the advantages and disadvantage of using social networking for TESCO.
- To recommend strategies for Improvement in use of social networking in business.
This part of a research project is enclosed with plan where decisions are being made in order to locate project goals, features, functions, tasks and many more. It is very much required for a researcher that get clear with all the requirements and needs to find out all the relevant data so that project can come to a conclusion. Under this present study where scholar is showing all the merits and demerits of using social networking in TESCO. It will also how social networking sites impact on TESCO in near future.
Advantages and Disadvantages of Using Social Networks in Business
According to the given study of Sashi, (2012), there are ample number of advantages and disadvantages that stay present when a company adopts social media at its business and these are as follows:
Social networking sites is said to be an important tool for promoting any kind of activities, as according to the current market scenario, maximum number of people are using this and it is aiding them in gaining various kinds of information. Some of the advantages are given below in context with company:
Increase Brand Awareness: Social media is a digital marketing tool and help the organisation in spreading different kinds of information. In terms of company, they are using this for increasing their brand image so that customers can recognise their products easily.
Better customer satisfaction: By using social media tool company can revert to their clients regarding their queries in a effective manner. This will help them in sustaining their loyalty of customers.
Since every application of IT is much useful for organisation to carry its business operation in a fast manner, but every technique has some limitation also. The main reason behind this is cyber inferiority. As greater exposure on these sites rise potential of attacking risks. Marketing through social media can reduced benefits of a company as it reveals others what strategy such associations are used to grab attention of customers ans give opportunity to them to make better. Along with this, it assist industries to pay extra for managing online presence of their businesses.
Overview of social networks
Tesco is one of the largest supermarket chain of UK that has managed its reputation and sustained in competitive industry through managing social network employing better communication channels. Various retailers and brand have employing suitable social media as a manner to communicate with their consumer to promote their service as well as act as a consumer service tool. Comparing the Walmart, enterprise use effective social media channels such as Facebook, Pinterest, Twitter etc. as per the demands of organisation. Tesco carry out proper update of activities and provided offers in their incurring in organisation to update their consumer.
Importance of social network in TESCO
According to current study of Whiting and Williams, (2013), it has been analysed that TESCO is a retail organisation which are selling goods and services according to needs and wants of target consumers. It is very important to build social networking which help to analyse market trends, buyers purchasing behaviours, perception about their product and services, new innovative method which are used by competitors, identify actual as well as desire outcome of customer's satisfaction, build brand image and value or many more. These all factor has effect organisation performance positive it management of TESCO has established strong social network at market place that help to achieve goals and objectives in given time frame effectively.
Q1) How many people are having awareness about business operations of TESCO company?
Interpretation: There are many people in this whole world whom are using social networking sites and and sometimes surfs those websites which pops up on screen while operating social media. This process is called as online marketing and TESCO is quite good in this segment of marketing and due to this company is able in catching attention of many people in industry. Under this, 40 respondents are selected through researcher and among them only 20 said that they are aware about all the business activities or operations of TESCO business firm. This business firm use effective techniques to aware people regarding existing products as well as services of an organisation in an effective manner and among all social media is an effective or beneficial method because there are large number of people connected. It is very difficult for organisation to understand that the effects provided by social media on store. High financial required for TESCO to implement social media strategy in business operations. In order to make improvement in business activities, TESCO business firm use the advanced technology and update it on regular basis. It will also be helpful in increasing growth or productivity of firm in a significant manner.
Q2) What are the advantages of social media tools?
Interpretation: Social media tools are more effective tools to connect. With the help of this, organisation can communicate with people and aware them regarding services or goods of company in effective manner. Social networks are very much helpful in doing promotions with much cheaper rates then other mass media. Along with this, social media has also helped organisations in staying interconnected with other offices if company is doing business in more than 1 country. TESCO can stay directly connected with all the consumers without any presence of mediators. Away from this, there are various sort of approaches that may aid organisation in gaining competitive advantages in much effective and efficient way. Through taking in use of various social networking sites TESCO's business can be improved and may aid in gaining competitive advantaged at marketplace of United Kingdom. At market place, there are various social media tools and these are Facebook, email, Instagram, twitter etc. Among all, Tesco organisation use Twitter and Facebook tool to communicate with consumers. The manager of this organisation appoint those employees which are capable in doing the job in perfect manner.