Question

Use a social media platform of your own choice to illustrate how value creation occurs on digital platforms. (please use less than 600 words)

Answer 1

Social media selected:

Instagram

How value creation occurs on Instagram

Value creation reoccurs when the business uses its skills and resources to generate a product , which is capable to add value to the customers, in turn generating profit for the organization. This value creation can be made possible and easy to achieve using various digital platforms, such as face book, instagram.

Instagram, for example is considered as an unstoppable value creation mode in the present world, where the products manufactured by the organizations are highlighted and creates values for the customers. The value to the product is added by using different metrics such as the ad- recall metrics and full awareness about the product. The product once featured on Instagram, is re called/ advertised again and again, so that it leads to perfect product positioning in the minds of the customers. On the other hand, the product for which the value is created, leaves a long lasting impact on the customers and also improves the worth of the business and its stakeholders.

Moreover, with Instagram or any other social media platform the business is able to keep a close check on how the product is doing in the market and whether is it able to generate value for the customers and thereafter generate revenue for the business or not.