Unit 4 Stakeholder groups

Question 1

Advantages of social media

Answer 1

.Cheaper than traditional advertising and promotional activities
.Target audience e.g, if you are targeting young people you could reach them through Snapchat
.Improves costomer relations, i.e respond instantly to messages

Question 2

Disadvantages of social media

Answer 2

.Commit resources to managing your social media presence
.Failing to respond to negative feedback may damage your reputation
.Hard to measure and place a monetary value on the brand awareness and reputation that social media can bring. It’s difficult to know how social media effects sales

Question 3

Definition of stakeholder

Answer 3

Any person or group that has an intrest in the business