Social Media’s Impact on New Market Competition

Social Media’s Impact on New Market Competition

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Social Media’s Impact on New Market Competition

Social media has had a significant impact on new market competition by providing a low-cost platform for businesses to reach and engage with customers. It has also made it easier for new businesses to enter the market and for consumers to discover and interact with them.

One of the main ways social media has impacted new market competition is through the ability for businesses to reach large audiences at a low cost. Traditional forms of advertising, such as television and print, can be costly and may not reach the desired audience. Social media platforms, on the other hand, allow businesses to target specific demographics and create targeted advertising campaigns. This means that even small businesses or startups can compete with larger, established companies by reaching the same audience at a fraction of the cost.

Another way social media has impacted new market competition is by providing a level playing field for businesses of all sizes. Social media platforms allow small businesses and startups to have the same visibility and reach as larger companies. This means that consumers are more likely to discover new businesses and products through social media, rather than just relying on the well-established brands they are familiar with.

Social media has also made it easier for consumers to research and compare products and services. Platforms like Yelp and TripAdvisor allow consumers to read reviews from other customers before making a purchase. This means that new businesses can quickly establish a reputation and gain credibility in the market, even if they are not well-established yet.

Finally, social media has made it easier for new businesses to build relationships with customers. Social media platforms provide businesses with a direct line of communication to customers, allowing them to respond to feedback and build a sense of community around their brand. This can help new businesses establish themselves in the market and gain a loyal customer base.

In conclusion, social media has had a significant impact on new market competition by providing a low-cost platform for businesses to reach and engage with customers, leveling the playing field for businesses of all sizes, making it easier for consumers to research and compare products, and helping new businesses build relationships with customers. This has led to a more dynamic and competitive market, with more opportunities for new businesses to succeed.

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Excellent Quality 95-100%	Introduction 45-41 points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.		Literature Support 91-84  points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.			Methodology 58-53 points Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met.
Average Score 50-85%	40-38 points More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided.		83-76  points Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration.			52-49  points Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met.
Poor Quality 0-45%	37-1 points The background and/or significance are missing. No search history information is provided.		75-1 points Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration.			48-1 points There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met
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