Choose and complete one of the following scenarios and write a paper of 750-1000 words (approximately 3-4 pages), not including the title and references page, to address the areas outlined in the scenario. Use APA 6th edition style guidelines and add headings in your paper.
Scenario 1
You are going to open a new business. Complete the following:
Define the business and industry parameters.
Define your market segment, market demographics, and market niche if appropriate.
Decide on a social media strategy and explain your reasoning.
Choose two competitors within the industry and evaluate their current use of social media (competitive analysis).
What is working? Explain.
What needs to be changed? Explain.
Based on the competitive analysis, develop a social media strategy to gain market share. Make sure that you create an argument based on the text (Chapter 5, pages 155-160 and Chapter 7, pages 232-237) and two outside peer-reviewed articles.
Scenario 2
Complete an analysis of your current employer or past employer.
Define the business and industry parameters (include sales or service numbers).
Define your market segment, market demographics, and market niche if appropriate.
Analyze the organization’s current social media strategy.
Is it working? Why or why not?
Choose the two primary competitors for your employer and evaluate their use of social media (competitive analysis).
What is working? Explain.
What needs to be changed? Explain.
Based on the competitive analysis, create a new social media strategy for your employer to gain market share and address the identified problems with the current strategy. Make sure that you create an argument based on the text (Chapter 5, pages 155-160 and Chapter 7, pages 232-237) and two outside peer-reviewed articles.
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