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846 final exam review - 1 What are the characteristics of...

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1. What are the characteristics of the Web 2.0 age from a media planner’s perspective and how these characteristics should be dealt with in the development of an effective media plan? Web 2.0 age brings about interactive systemic bases, interoperability, user-centered design in a virtual community, in contrast to the original dot-com boom where users are limited to the active viewing of contents. The characteristics of the Web 2.0 age can be summarized as five points: collective user value, active network effects, working through social networks, dynamically syndicate competence, and recombined innovations. The key ingredient of Web 2.0 age is the ability to build on collective user value, that is, to collect information from users and then share it in a form that people are willing to pay for. It is important for media planners to understand the basic value and cost of their users. They also need to evaluate their plans to find the areas where collective user value can help. Flickr centers the work on customer data which would expand the information that users share with each other. Flickr gives its users instant gratification with easy-access digital photo storage and management, using its huge library of public photos to build a new kind of community. Network effects are the heart of Web 2.0 age. Positive network effects increase the value of a good or service as more people use or adopt it. Media planners need to figure out what the offline and online network effects are and how can measure their value. Moreover, they need to discover the likely and unlikely places and groups that could generate positive network effects- direct, indirect, demand-side, cross-network, and social. Once possibilities are inventoried, it’s time to examine how to combine them. Google’s search-engine story demonstrated the hair-raising twists and turns in a highly fluid, complex, and time-sensitive competitive race. In the early race between Google and Overture, having the right combination of network-effects strategies and monetization meant that Google could overcome its competitors’ early lead. Social networks are a natural conduit for network effects and a key field for community-building that can strengthen the media plans’ appeal. Social networks can help reaching a larger audience and build stronger ties within the user community. Media planners need to examine the target audiences’ profile and to pick their favorite social networks. For example, Facebook opens up hyper-growth in the college-age population to a whole new ecosystem of active users, contributors, and developers. No doubt, media planners can benefit from this kind of accelerated growth, traffic, and visibility.
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