Reference no: EM133147322
Instructions: Please read the case study below the question and then answer the following case study question.
Case Study Question: Many organisations now utilise social media as a means to extract valuable information about their potential customers. From the following mini-case study reading passage, identify what you think, the information the company should look for, when constructing their social media presence. Moreover, how it could possibility benefit the organization, from a profit point-of-view, and meeting the challenges from a new competitor. Discuss these key points. Use the Adapted Harvard Referencing style with peer-reviewed referencing support, to justify your solution.
A Brief Case Study Reading - Social Media @ Costco Quahog
The Quahog Costco Supermarket, on an average day, serves over 3500 customers. The store sells practically everything. The typical customer spends on average $125 each. While some customers spend over $1000 per visit. Larger spending customers, typically buy high-end products within the store's electrical and computing department.
It has now come to management attention that a new competitor - Aldi, is going to open across the road. Management is concerned about losing their more valuable customers to this new player. They want to know how they can keep these customers, and ensure that they get the best offers on the high-end products they purchase. Management has already in place various social media channels, used to attract and inform their customers, in the City of Quahog.
While they do have social media channels such as Facebook and YouTube, they have not embraced the newer kid on the block, TikTok. The company is not sure how to use this newer social media channel, and benefit their customer base. But they are aware their new competitor has already deployed this social media channel to success in other markets. Management is eager to see their results, before the new competitor starts building, so they can also match their digital presence.