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Essay Available:
Pages:
8 pages/≈2200 words
Sources:
7 Sources
Style:
APA
Subject:
Business & Marketing
Type:
Essay
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 38.88
Topic:

The Social Media Industry: Porter’s Five Forces and PEST Framework

Essay Instructions:

Analysing the Industry and Organization : TikTok Social Media Industry
Write about TiKTOK in terms of
1: -the firm, its evolution, the industry it operates in and what you will be covering in the assignment
- what has been happening in the social media industry over the past couple of years
-What trends are emerging?
-Where is the industry heading towards with regards to margins, competitive rivalry and why
(Max 350-400 words)
2: Using Porter’s five forces and PEST framework analyse the main forces that have an impact on profitability in the chosen industry. Pay particular attention how these forces have evolved as a result of COVID-19. (Max 500 words)
3: What are the unique resources and capabilities (if any) that give your chosen firm the market power to compete effectively in this fiercely competitive market? Evaluate the effectiveness of these resources and capabilities in home and global markets (Max 400 words)
4: Identify and discuss the business models which are emerging in the industry as a result of COVID-19 and/or the unfolding of rare events in Europe. Having discussed the industry context, assess the strengths and weakness of your chosen firm’s business model. You may want to consider both near and long-term possibilities. (Max 400 words)
5: If you were invited to a lunch with the board members of the firm with a specific mandate to provide a set of strategic recommendations for short, medium and long term that will enable the firm to build resilience and a sustainable competitive position in global markets, what would your strategic recommendations consist of? Pay specific attention to rare events (e.g., Covid-19/security situation in Europe) and/or mega trends in the industry (automation, AI etc.). You can apply frameworks from the blue ocean strategy to discuss the moves your chosen firm may make. (Max 500 – 550 words)
You will be assessed on (a) the depth of insight (b) justification of your argument, and (c) quality of course content application. Simply answering the questions is generally worth up to 60%; additional observations referencing material gleaned from your primary and secondary research and applying class lectures and readings are worth an additional 40% of the weightage assigned for this assignment.

Essay Sample Content Preview:

The Social Media Industry
Author
Affiliation
Course
Instructor
Due Date
The Social Media Industry
TikTok
China's ByteDance Ltd. owns TikTok, a video-focused social networking site known in China as Douyin that focuses on sharing short videos. Pranks, stunts, tricks, jokes, dancing, and entertainment videos of all kinds may be found here, ranging from 15 seconds to 10 minutes. First launched in China in September 2016 as "TikTok," Douyin has now been renamed "TikTok" and is available worldwide. After integrating with another Chinese social media site, Musical.ly, TikTok was made available worldwide on August 2 2018, for iOS and Android devices outside China. TikTok and Douyin do not exchange material, even though their user interfaces are identical. Servers for the software may be found all around the world. While there are some similarities between the two products, they do not share the same features.
In December 2016, Douyin was known as A.me until being renamed Douyin by ByteDance in September 2016. Douyin's international expansion was planned by ByteDance. According to Zhang Yiming, the company's creator, just one-fifth of the world's Internet users reside in China. To compete for the remaining four-fifths, we'll need to go worldwide. Going worldwide is, therefore, necessary. With 100 million users and then a billion views every day, Douyin was established in only 200 days.
In September 2017, the app was renamed TikTok and released on the worldwide market. The TikTok app was the most popular free app in Thailand and other countries on January 23, 2018. Mobile research company Sensor Tower estimates that TikTok has been downloaded 2 billion times globally, with more than 130 million downloads in the United States and 2 billion downloads worldwide (those numbers exclude Android users in China) (Feldkamp, 2021). It wasn't until last year that American celebs like Jimmy Fallon and Tony Hawk started using the app. The likes of Jessica Alba and Will Smith have already joined TikTok and a slew of other high-profile stars.
The NFL and TikTok announced a multi-year agreement on September 3, 2019. It was only two days before the NFL's 100th season opener at Soldier Field when the contract was announced, and TikTok celebrated by hosting events for fans to celebrate. An official NFL TikTok account will be launched as part of the agreement, which will allow for additional marketing options, such as sponsored videos and hashtag challenges (Kaye et al., 2021). TikTok's monthly active users globally, excluding Douyin, will be close to 800 million in July 2020, less than four years after its launch.
Users from different backgrounds may build strong relationships via social media, resulting in an ever-growing community. Massive volumes of data are generated due to this structure, providing consumers with an unparalleled service value proposition. In some instances, consumers cannot access reliable information at the moment of their greatest need because of an overabundance of information. People rely on social media sites for a wide range of reasons, from news and information about important events to entertainment, keeping in touch with loved ones and friends, posting reviews and recommendations of goods and servi...
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