Creating And Capturing Value In Social Network
Syed Hasan Zaman (20738)
Muhammad Wasim (20735)
Why do people use social network?
Peoples generally use the social networks for the purpose of managing their social lives, also it includes to satisfy the need of socialization of each individual which is required to be satisfied and the social networks are the most commonly used medium now a days in order to satisfy such need. Comparing it to the other mediums such as emailing, messaging or calling the reason for the preference of the social networking sites is because that the audience in the social network is large enough also it gives the opportunity to socialize with other peoples around the globe and making new friends and connections and getting to know peoples, cultures and values around the globe
How can you segment Cyworld user? Which segment should Cyworld target? How it can create value for users in this segment?
The segmentation of user of Cyworld are the teens and the generation in early twenties as the largest user group of Cyworld is the users comprised of the these two age segmentation. The reasons for these segmentation to be attracted towards Cyworld is that there is no membership fee and the generation is neither able to pay huge membership or reactivation fees Cyworld should target the youth as they are most interested generation segment in socialization and who are well aware of using such sites and medium to communicate, contact and maintain their relationships with others and also seek to communicate with peoples around the globe in other regions For creating value for its users, Cyworld initiated with the tactics of introducing the idea of creating and managing minihompys by way of buying the virtual items and decorating the minihompys but later Cyworld observed that the users are getting bored of this activity and...
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