Social Media: The Power of Facebook in the Business World
Oct 27th, 2010 by monicamoran
Yes, Facebook. The new sensation that’s gripping the nation. It’s a social network that has spawned over a million users since it’s launch, and today, has become one of the most powerful tool in the world, specifically the business world. Why? Well, the main reason is that it is an excellent marketing tool in the business world.
Management Information Systems (MIS) is a system used in the corporate world that provides information to manage organizations effectively. Social networking is part of MIS, as it allows corporations to market their company and new products. Let’s take a look at Starbucks. Starbucks have their own Facebook page that promote their new drinks, provide their store locations around the world, job opportunities and other customer information such as how to apply for a Starbucks card. By creating a life on their own on the internet, specifically on Facebook, social media becomes an effective marketing tool for their company. It is able to target a specific audience, mainly young teens, allowing them to actively engage indirectly with the company, and further increase their brand loyalty.
The market of coffee shops are significantly expanding, and although Starbucks is a dominant leader in the market, they are still facing intense competition. Thus, MIS, specifically, social media, will continue to sustain customer loyalty, and sustain its image as a brand leader in the market.
A link to their Facebook page: http://www.facebook.com/Starbucks?ref=ts