Module 07 Social Technology

Scenario: Magenta Multimedia has decided to incorporate social technology into its business to maintain its competitive advantage. It would like to use technologies that allow it to engage with customers, and that also allow employees to communicate with peers. The company’s current customer demographic is older, but management would like to expand the appeal of the company and its products to millennials (while not ignoring its current customer base). The company was impacted by the recent economic downturn, but is now growing again and is seeing positive financial results. Despite this, senior management is extremely budget-conscious and sensitive to incurring new expenses. What social technology strategy would you recommend? Why would you recommend this strategy? How would this strategy benefit the organization? What type of social media metrics would you recommend the organization use to ensure the social technology strategy is successful? Given budget considerations, how would you justify the costs of your recommended strategy? Embed course material concepts, principles, and theories, which require supporting citations along with at least two scholarly peer reviewed references supporting your answer. Keep in mind that these scholarly references can be found in the Saudi Digital Library by conducting an advanced search specific to scholarly references. Reply to at least two of your peers’ initial posts. These replies need to be substantial and constructive in nature. They should add to the content of the post and evaluate/analyze that post’s answers. Normal course dialogue doesn’t fulfill these two peer replies but is expected throughout the course. Keep in mind that within your initial post, answering all course questions is required. Use Saudi Electronic University academic writing standards and APA style guidelines.’Be sure to support your statements with logic and argument, citing all sources referenced. Post your initial response early, and check back often to continue the discussion. Be sure to respond to your peers’ posts as well.10/03/202025businessfinance