MGMT305 U3 IP Research Paper Example | Topics and Well Written Essays - 750 words

MGMT305 U3 IP - Research Paper Example The online community is large and riddled with potential buyers and targeting the right content can help increase conversions and therefore sales. In particular, small and medium sized businesses are effectively employing social media channels and the web to increase their presence on the Internet thereby helping them build awareness about their business and attract potential customers. Matt’s Pizzeria is a local neighborhood pizzeria located at the corner of the street and the business is a small scale sole proprietorship owned by Mathew Pillington. The pizzeria sells ready to eat pizza and also specializes in making its own pizza dough and pizza sauce which is quite popular among the local community. The pizzeria is famous for its delicious pizza however it lacks online presence. By building an online blog or website, Matt’s Pizzeria can expand and grow its business in order to build awareness and cater to the taste buds of neighboring pizza lovers. Wind and Mahajan (2002) describe the new digital model as being based on knowledge rather than tangible assets as in the traditional business models. Similarly, for a successful online presence it is essential to carefully craft the content of the website or blog in order to target potential customers. The new business models define a revolutionized form of customer-business interaction at times of uncer tain external environment. Social media including Twitter and Facebook allow two way communications between business and potential consumers thereby enabling informative exchanges and real time feedback. In addition to opening a website, Matt’s Pizzeria can also create a Twitter account and a Facebook page for its business. This could help promote their business and help the business to quantify its growth and success in terms of analytical metrics. Content creation plays a vital role in attracting customers on social media