Impact Of Social Media On Marketing Industry

Read Complete Research Material


Impact of Social Media on Marketing Industry

Impact of Social Media on Marketing Industry


Background of the study

Social marketing has become a powerful tool in a time when the cost of communication was falling fast. The subsequent spread of cheap Internet access opens up opportunities for companies to deal directly with thousands or millions of individual customers in a way that was previously unimaginable, and only managed through an intermediary (Cova, 1997, 97). The cost of communications continues to fall with new channels of communication arise, presenting opportunities and challenges for direct marketing.

Opportunities arise from a wider choice of affordable communications with existing and potential customers. But this is a task for companies to evaluate the effectiveness of this proliferation of new channels (Cova, 2002, 59). A more serious problem is the lack of control over the message that this channel should increase, as consumers are increasingly able to communicate with each other, and in this environment, high-load communication, direct marketing has to compete for attention with reports from a wide range of peer group- Media (Croft, 2008, 29).

There is a dilemma faced by the company plans to interact with social networks. On the one hand, they may seek to manage the communication environment within the network, to make sure that their brand message comes through clearly (Csikszentmihalyi, 1988, 35). They may also be involved in the presence of demographic and lifestyle information to improve their focus on individual members of the network. But on the other hand, the true social networking means the members feel a sense of ownership of the community, and there is evidence that people may be dissatisfied with corporate incursion into what is perceived as their own space community (Edgell, 1996, 18).

Individual social networks are often passed through very fast life cycles, growth, maturity and decline, as a community first saw how bright and attractive, and then lose their appeal for members of the community because they are dominated by commercial interests (Ferguson, 2008, 79). It was reported that many once widely used Web sites such as Friendster and Friends Reunited have gone on the decline, should be replaced by newer sites such as Facebook and Twitter, which were early in their life cycle.

Problem Statement

Social media has seriously eroded management; marketing managers can have over how information gets into the public domain. Managers must recognise this, as well as evaluating the parallel decrease in the usefulness and practicality of traditional ties as a means of developing strategies for IMC.

Purpose of the Study

The purpose of this study will be to critically review the recent developments in social networking media. While many in marketing are scratching their heads wondering how the latest generation of web social media will generate profits, this paper has a direct marketing perspective, asking why and how the message sent by the company may be more effective if it focuses on the people through social media network information. In particular, the concept to examine the experience of users of social ...
Related Ads