Social networking sites are increasingly gaining attention for analysis of their marketing opportunities and reach. If a good business strategy is designed to gain a competitive advantage using the company’s core competencies, then in the case of Twitter it is possible to help the organization grow and explore various market opportunities. In case of Twitter, capabilities suit the business strategies under consideration by the company’s management because the firm has been operating in the social networking industry for quite some time and has also been able to prove itself to be a market leader (Kaplan & Haenlein, 2009).
Moreover, Twitter has been able to gain market share and form a distinct, as well as niche market segment for itself. In the case of Twitter, the firm focuses on developing its competencies and competitive advantage in the social networking domain with a futuristic view (Kaplan & Haenlein, 2009). It is important for the firm to ensure better competitive approach in order to sustain side by side with firms like Facebook and Whatsapp who have a very good reach and level of acceptance. So it becomes important for Twitter to innovate and come up with new applications and uses of its application in order to attract more customers and develop a stronger relationship with customers. In order to gain a competitive advantage using the company’s core competencies, Twitters' competencies include a wide customer base, first mover advantage, strong understanding of the market and a niche crafted for itself. It is extremely crucial that Twitter benchmarks its competencies against market leaders and competitors in order to develop better focus on market leadership and customer retention (Kaplan & Haenlein, 2009).
Reference
Kaplan, A. M., & Haenlein, M. “Consumer use and business potential of virtual worlds: The case of Second Life”. The International Journal on Media Management, 11(3). 2009.
