1. Explain how social media and web 2.0 technologies are changing consumer behavior. What
are some of the web 2.0 and social media strategies businesses are adopting to keep up with the
changing market?
2. Provide at least two examples of how web 2.0 technologies have been used to enhance
business functions.
Solution
Online environment today has become quite commercial and retail segment has taken cognizance
of this and adapted their strategies with this change more so than others.
Social media and Web 2.0 technologies have provided platforms for the common consumers to
communicate and gather information timely, effortlessly at virtually no cost. Consumers today
individually have greater influence in the buying behavior of the collective masses comprising
the markets through their reviews and feedback of products and services.
Businesses have recognized the impact Web 2.0 and the internet have on the buying behavior
and are investing more in these areas to reach out to the consumers - present and potential.
In fact across geographical boundaries and industry segments the use of Web 2.0 has become all
pervasive in order to remain competitive in business. The advantages of using these are
numerous - the information gathered, the market intelligence obtained, ease of communication
internally within the organization and externally with the business environment, cost effective
marketing camapigns. All these have led to product improvement and innovation with the
generation of higher revenues.
Costa Coffee has been a pioneer using the web for its marketing and has been a leader in their
business segment. Wal Mart has of late recognized the power of the Web and has supplemented
its effort to focus in this segment that has over 10% of the business and is growing and sooner
than later is expected to be around 20% of retail business.
Shopping is a social experience apart from being of functional nature. The Net has provided a
platform to experience this conveniently, reliably and cost effectively. Business houses have
recognized this and are using the web more so now than ever to maintain and increase their
market presence..
1. Explain how social media and web 2.0 technologies are changing co.pdf
1. 1. Explain how social media and web 2.0 technologies are changing consumer behavior. What
are some of the web 2.0 and social media strategies businesses are adopting to keep up with the
changing market?
2. Provide at least two examples of how web 2.0 technologies have been used to enhance
business functions.
Solution
Online environment today has become quite commercial and retail segment has taken cognizance
of this and adapted their strategies with this change more so than others.
Social media and Web 2.0 technologies have provided platforms for the common consumers to
communicate and gather information timely, effortlessly at virtually no cost. Consumers today
individually have greater influence in the buying behavior of the collective masses comprising
the markets through their reviews and feedback of products and services.
Businesses have recognized the impact Web 2.0 and the internet have on the buying behavior
and are investing more in these areas to reach out to the consumers - present and potential.
In fact across geographical boundaries and industry segments the use of Web 2.0 has become all
pervasive in order to remain competitive in business. The advantages of using these are
numerous - the information gathered, the market intelligence obtained, ease of communication
internally within the organization and externally with the business environment, cost effective
marketing camapigns. All these have led to product improvement and innovation with the
generation of higher revenues.
Costa Coffee has been a pioneer using the web for its marketing and has been a leader in their
business segment. Wal Mart has of late recognized the power of the Web and has supplemented
its effort to focus in this segment that has over 10% of the business and is growing and sooner
than later is expected to be around 20% of retail business.
Shopping is a social experience apart from being of functional nature. The Net has provided a
platform to experience this conveniently, reliably and cost effectively. Business houses have
recognized this and are using the web more so now than ever to maintain and increase their
market presence.
