Success in Social Commerce Research Paper Example | Topics and Well Written Essays - 2500 words

Success in Social Commerce - Research Paper Example By the end, we draw the growth pattern of social commerce chronologically on the basis of business articles and educational publications starting from 2005 to 2011. A structure that unites people, administration, expertise, and the information scope is used to present an organized study of the progress of social commerce. Our assessment portrays that from 2005, the year the terminology social commerce had begun to be used, suppositions and perception of individual in social commerce moved from a universal depiction of human nature to an intensive research with diverse perspectives from social psychology to social culture, and economic environments. According to the administrative aspect, business plans and model develop from the short-tail to long-tail thinking with innovative notions such as branded social communities, forte social networks/communities, niche brands along with joint purchasing, and multichannel social systems (Wang & Zhang, 2012). According to our assessment, the ni che social networks/communities give power to smaller businesses in the cut throat commerce world. Success in Social Commerce Introduction Alongside the attractiveness and profitable achievement of social networking sites and different kinds of social channels, the term social commerce was envisaged in the year 2005, portraying a rising phenomenon (Beisel, 2006). For argument sake, we precisely define social commerce as a type of business that is arbitrated by social media. Social commerce uses social channels that assist social communication and involvement of the users to support activities in the business of different products and services conducted both online and offline (Afrasiabi & Benyoucef, 2010). It signifies prospective business opportunities that merge shopping and social networking via social media. The social media users enjoy many online activities that are similar to the offline activity mode, the online difference being the mode of attaining the activities, such as online shopping, online interaction with friends and so on. The challenge for the social media is to give a satisfactory experience to online users so that they switch to the online mode of shopping and socializing. Referral economy is a new category of e-commerce that is basically gaining from the positive aspects of information technology (Harkin, 2007). Discussion Social commerce where vendors advertise through social networks or intensely incorporate social media into the purchase procedure is already consumed by several major brands globally. Many brands advertise their products and services on the social media platforms and with this advertisement they are able to reach a wide audience. It is little in terms of profits but has a vivid – although uncertain – future (Brito, 2011). In technological terms, IT competencies and potential for social commerce develops from blogs, to social networking sites, to sites that share media and to smart phones. Despite the fact that Facebook becomes a moneymaking platform, developing the idea of f-commerce, Google and Twitter became tough competitors with immense possibilities as well (Gordon, 2007). The competition level in the social media platforms is immense and each social media platform has to provide some unique feature which is not present in other platforms.