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    Online social networking industry

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    Scenario:

    The online social networking industry is growing rapidly with a variety of both personal and business oriented applications emerging tapping into the global marketplace. Some of the major applications include Facebook, Myspace and LinkedIn. There are also many niche applications popping up, such as those targeting a specific geographic region (e.g. Cyworld in Asia), industry (e.g. the Accounting Network) or customer group (e.g. PartnerUp for entrepreneurs).

    Abby Hunter, a former high school classmate, recently approached you with a new social networking website that she has designed. She is excited about the possibility of entering the industry and taking advantage of the growing demand for social networking. Yet, although Abby has an extensive technical background and the ability to build most any feature into her website, she is unsure of what strategic direction to take it. For instance, should she focus in on a specific niche or keep it more mainstream? What features should she add? What clientele should she market the website to and how can she best reach them? How should she approach pricing? How can she best compete?

    Given your background and management expertise that you've built from your MBA class work, Abby would like to offer you a share of the ownership in exchange for helping develop and implement a strategic plan to get the new venture off the ground. This involves presenting the plan to a group of venture capitalists in order to obtain funding to launch the website.

    Abby Hunter, your former classmate and potential business partner, would like to know what resources you bring to the table and also what strategic resources are necessary to yet obtain. Create a memo that outlines the key resources and explains their linkage to competitiveness.

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    https://brainmass.com/business/networking/online-social-networking-industry-302499

    Solution Preview

    The response addresses the queries posted in 1126 words with references.
    //The launch of a new website is a very critical task. It requires lots of formalities to be fulfilled together with lots of resources as well. In the given series, we will understand the problem faced by the owner in launching the new website//.

    Memorandum

    To: Abby Hunter

    Date: 10 March, 2010

    Subject: Online Social Networking

    This memorandum will help the business owner to get the new website into the market through the proposed resources and thereby leading to the attainment of competitive advantage as well.

    Introduction:

    Abby Hunter has recently developed a new social networking website which she is planning to launch in the market to grab the advantage of growing demand of social networking in the market. She has designed the website on her own as she possess necessary technical expertise required for developing a networking website but doesn't have requisite skills required for launching the website into the market. However, various resources are required to effectively launch the website into the market, which as discussed below.

    //After having an understanding of the problem faced in the launch of the website, the way through which such problem can be solved is discussed in the next series//.

    To effectively launch the website into the market, numbers of resources are needed. As the website is new to the market, effective promotion of the website is the first thing that draws attention. It needs to be advertised well in the market which requires huge expenditure to be incurred. As a result huge capital will be required to finance such expenditure. All the media such as newspaper, radio, or television ads should be used for the promotion of the website as it would decide the success of the website in the market. Such a promotion will not only help in drawing attention of the users towards the website but also result in ...

    Solution Summary

    The response addresses the queries posted in 1126 words with references.

    $2.19