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UNIT 3 Using social media in businesses Assignment 2
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UNIT 3 Using social media in businesses Assignment 2
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UNIT 3 ASSIGNMENT 2About the business:
The business that I am using is called NZXT which is a tech business which
focuses on pc and gaming related equipment, the company was founded in
2004 in Los Angeles by a man named Johnny Hou.
I have chosen this business as I am interested in gaming/pc building and this
also makes it easier for me to market products that they use.
Business requirements: (P3)
Aims of the business:
Growth: One aim of the business is growth in which can be divided in many
sections, growth can be an increase in popularity, increase in profit, revenue,
even in the increase of employees etc.
Survival: Survival is another aim of the business which means to have the
capability to survive big impacts to the business. New businesses usually “play
it safe” and allow their company to go on for 2-3 years before they make risky
moves/big decisions.
Efficiency: Another aim of the business is Efficiency in which a business tries to
be the best in the market, to be efficient it means to put hard labour and
energy into producing products and increasing sales every year and for
example try to sell a certain number of products every year.
Profit maximization: Another aim of the business is profit maximization in
which businesses want to gain more than the amount of money spent on the
business, this will be an aim once a business has hit its breakeven point.
Customer satisfaction: Customer satisfaction is important for the competitive
market as it can be a factor in which brings back customers to the business,
Customer satisfaction also measure how happy a customer is with a product or
service.
Number of employees: Another aims of the business is the number of
employees they contain; this can be an aim as expanding the employee base
makes work more efficient in which could lead to more overall profits.
,Number of store location: The number of stores scattered around means the
business can sell more of a product or service, so the more stores that are
around the more profit is being made. This also can lead to more popularity for
a business as customers will see and remember a lot of their stores around the
area.
Target audience:
The audience that has been targeted is users over the age of eighteen in which
can be any genders, statistics show that the gender distribution in NZXT is that
there is 82.94% male users and 17.06% female users. This is beneficial as NZXT
can use social media to create an online fan base in which this will allow them
to reach a certain number of followers also allowing them to determine who
uses and visits their website in which this can be used to market to certain
genders. Statistics also show that there are 29.38% users that are aged 18 – 24,
32.01% aged 25 – 34, 18.07 aged 35 – 44, 11.17% aged 45 – 54, 6.03 aged 55 –
64, 3.34 aged 65+. This is beneficial as it gives an indication to what ages view
the products and can allow them to decide to make the content more aged
towards to older age instead of the younger generation. Overall, these
statistics provide information in which can help in the marketing process as it
allows the business to have a good understanding of the target audience.
Content interest:
The content that will be provided to interest customers will be highlights of
gaming tournaments/funny moments also images and videos of pc builds that
have been made by users online e.g., showing the chosen pc build of the week.
The content that will be provided will make sure to actively keep the
customers engage to what is being produced for example the highlights of the
gaming tournaments will benefit in many ways in which one way is marketing
as the posts will persuade the users to watch the gaming tournaments,
another beneficial reason is that it will make the catch up with certain parts of
the tournaments they have missed. Another example that will engage the user
is pictures and videos of new pc parts/builds, as I am interested in pc builds, I
like to browse through pc builds that other people have created as they come
up with very creative ideas that I may not have in which this will give me ideas
when I build a pc myself later on.
, Legal and ethical issues: (P3)
Discrimination and harassment: One big issue that businesses face is
discrimination and harassment towards customers and employees, this
problem can lead to many charges that ruins the business image also putting
them at financial risk.
One way to prevent this situation is to insure there are policies and harsh
punishment e.g., suspension or getting fired for these actions. Also ensuring
that the policies do not negatively impact people of different race, religion,
gender, etc.
Employee theft: Employee theft is another issue that occurs in a business in
which can lose enormous of things employees can steal for businesses can
include money, customer data, supplies etc. all these examples can create
huge lawsuits or charges against the business amounts of their annual income
from employee theft or fraud. Examples.
One way this situation can be prevented is placing restrictions into the
business, this can include passwords, locks on doors, security cameras.
Trusted employees can have access to and manage vital information (e.g.,
Customer information)
Data privacy: data privacy is one of the most important parts of a business in
which can determine how much a customer trust your business, loss of data
can lead to large ransoms being payed and risk of economic loss.
Linking to the last point (Employee theft) to prevent breach of data privacy is
to input clear guide and rules that show how to handle and store customer
data, it is also important to see who is handling or has access to the data in
which a very trusted employee should be put in place for the job.
Timeline: (P3) Creating social media page
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