Social Commerce Plan (3000 word)

Assignment 1: Social Commerce Plan (format and marks distribution – total 30%, 100 marks Word Limit 3000 Words Company of Choice : Dyson Strategy Initiation (Purpose: Rationalisation of Social Commerce Innovation) Company Analysis: Choose an existing company. Provide some information about your company (country of origin, location, size, estimated years in the market, market size, products, services, etc.). Describe the website/mobile apps, particularly on the existing social commerce initiatives. Draft a mission statement for your company. Include a paragraph or two that explains or justifies the mission statement. (10 marks) Customers’ Analysis: Identify and briefly describe your target markets. Your description should include demographic, geographic, psychographic, behavioural, and customers’ personas (use persona template in Fig 5.1, pg 146 in textbook no. 1). You should use the social media segmentation model (See Week 2 lecture). Estimate the market size. Identify the customers’ needs related to social commerce (15 marks). Competitors’ and Partial SWOT analyses: Identify two or three significant competitors serving the same target markets. Critically analyse their social commerce models and implementations to determine the extent customers’ needs are met. Identify several gaps (in meeting customer needs) that your competitors have addressed but not your company (Weaknesses-Threats) and gaps that your company and competitors have not addressed (Weaknesses-Opportunities). These gaps will be addressed in your social commerce strategy formulation (20 marks) Objectives/Goals Setting: Based on the gaps, write at least several objectives for your social commerce innovation (see Week 4 lecture). Each objective should include both a clear statement of purpose and a justification. (5 marks)

Strategy Formulation (Purpose: Formulation of Social Commerce Innovation) Value Analysis: Formulate and write the value propositions of your social commerce innovation to both customers and the company. This should clearly state the benefits your innovation will offer to customers and justify why these are important to fill the gaps in customer needs identified in the strategy initiation. Additionally, clearly state the value benefits will offer to the company e.g. reduced advertisement, product development & customer service costs, higher sales revenue, etc. Justify your points. (10 marks) Social Commerce Models: To provide the value propositions so as to fill the gaps, describe several social commerce models and their detailed implementations/tactics to be introduced. These should include detailed justification on how and why certain activities (such as engagement techniques [viral marketing, ratings, reviews, recommendations, referrals, and enticements] and contents), social networks (Facebook, Twitter, Google+, LinkedIn, etc.) and technologies/tools /applications are used and how they are integrated with other offline/online marketing communication channels (wherever applicable). You may use Table 5.1 (pg 145 in textbook no. 2) to link your objectives set in the previous section to the tactics. If possible, to be more convincing, show some examples to illustrate your models. (30 marks) Risk Analysis/Implementation issues: Identify the most significant implementation issues/risks related to the proposed social commerce innovation e.g. hate sites, negative comments, security & privacy issues, fraud, etc. and some possible contingency plans to address them. (10 marks) Learning objectives assessed: Learning outcomes 1-6