MARK 486 Study Guide - Online Advertising, The New York Times, Exponential Smoothing
Document Summary
Social media websites such as facebook, google+ and twitter are platforms for companies to promote their products at little to no cost. The operations department can therefore reduce its daily costs of advertising by focusing more on online advertising than traditional means (television, newspaper, and billboard advertisements). It forces the department to put more of a focus its online presence to gather information; online statistics can be useful in order to measure demand and the success of certain promotions. If demand can be better approximated, the operations department can decrease carrying costs and productions costs (more efficient production). The operations department is also interested in feedback that the customers take the time to write via social media websites. Specialists could be hired in order to create a personality for the company; to take the time to answer questions and understand the online customer. The benefits to this in operations is building customer loyalty.
