Term Paper: Popularity of Social Media Marketing

Pages: 8 (2410 words)  ·  Bibliography Sources: 6  ·  Level: Master's  ·  Topic: Business - Advertising  ·  Buy This Paper

SAMPLE EXCERPT:

[. . .] The participating social groups or persons continued to influence directly participation of others. This opened up the barriers likely to be faced with marketing advertisement media. Conceivably, the linking up of different peoples in different social grouping using the social media increased the volume of opinion and thus insights to PepsiCo.

Businesses That Have Used Social Media Marketing To Their Advantage

Ford Fiesta Social media marketing

Ford is a car manufacturing company that traces its origins back in the U.S. Over the years, the company has brand reputation in Europe and other countries around the world. In a bid to bestow a reputation in its place of origin, the company considered social media marketing to broadcast publicly experiences by independent agents with the car. The independent participants were chosen in accordance to their outreach potential to the masses through social media. The participants included bloggers, filmmakers, local celebrities and social networkers who would readily document and share their experiences with the car.

The stories and were posted in individual social networks as well as the company's campaign web site dubbed FiestaMovement.com. The company gave the participants the derogative to say and do what they wanted as regards to the car. The result of the brand-rebuilding campaign was that a five million dollars campaign realized 60% brand name recognition. This also raised a following into the company's activities that contributed to a deeper understanding on market preferences in the region. The social media advertising campaign undertaken by ford substantially raised Fiesta's dominance in the market with a significantly small expenditure outlay.

Best Buy's Twelpforce

Best Buy took advantage of the market need for information on electronic equipment to improve its brand performance in the market and increased customer confidence in them. The company's CEO Brian Dunn is one of the few CEO who actively participates in the social network "Twitter." Dunn observes that, people use social networks to get information on the electronic equipment or even advice on equipment's performance. To him social media are a platform that allows people to gather information from respective interactive networks. The notion of garnering information through a social network is one that leads to forums and debates even with experts throwing in ideas and directions on a topic.

Dunn considers the organization to be best placed to offer expert advice and information on electronic equipment since they are retailers in the industry. The retailer launched the campaign in 2009 on Twitter where up to 3000 active employees of the company participate. The employees participate in discussions raised by customers of potential buyers of electronic items. With this involvement, Best Buy manages to sustain its presence in the market through consumer knowledge. It has also been possible for consumers to show their confidence level in the retailer owing to their expert advice through the social network. The company in this case is not seen as undertaking a direct marketing campaign. The retailer has managed to pull the interest of a wide market and involved them in a social network that serves their needs. Best Buy considered launching an independent social network website; BByfeed.com. The site is dedicated to assisting potential and existing customers to get value for their money.

Impact Social Media will have on Business in the Next Decade

The business environment has seen substantial developments in the past few decades. The forms of business and the ways people conduct business has changed to reflect most of these changes. Technological advancements have played a significant role in influencing in determining the forms of business that are development and the operation measures exiting businesses will take. Social media developments are part of the technological changes that have influenced business. Growing trends in social media are expected to influence business operations in future.

Social Media marketing has been embraced by a wide spectrum of businesses seeking to maximize their consumer outreach. The growth of social media to the extent of breaking the distance barriers continue to create a unified global business environment. Social media are expected to play a prominent role in business communication and continue to influence borderless business transactions. The continued use of social media for communication and insight gathering will influence business perspective on products and services to reflect consumer aspirations. Business managers' role will change from brand creation to that of merging different ideologies in the market to develop a suitable product for the clients' needs. Businesses will also face the challenge of increasing their product and service range in a bid to accommodate the insights received from clients. With this in perspective businesses will benefit from accurately targeting the market needs and minimizing cost in developing products on trial and error basis.

Traditional marketing undertaken by business will shift from giving detailed information on the products and concentrate on giving information on availability. The expansive role of marketing will be reduced there by availing more funds for business to develop products that are customer need specific.

References

Dailey, P.R. (2009). Social Media: Finding Its Way into Your Business Strategy and Culture. Burlington, MA;: Linkage.

Donna, L., Hoffman, & Fodor. M. (2010). "Can You Measure the ROI of Your Social Media Marketing?",. MIT Sloan Management Review, 52(1), 41-49.

Joel, M. (2009). Six Pixels of separation. New York: Grand Central Publishing

Martin, T. (2009). Social Media is Meant for conversion, not "Marketing" Advertising Age, 80(6), 11-12.

Myron, D. (2009). Social Media Spawns a New Era in Customer Intelligence CRM Magazine, 13(6), 6-6.… [END OF PREVIEW]

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Popularity of Social Media Marketing.  (2013, February 28).  Retrieved March 23, 2019, from https://www.essaytown.com/subjects/paper/popularity-social-media-marketing/7102572

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"Popularity of Social Media Marketing."  Essaytown.com.  February 28, 2013.  Accessed March 23, 2019.
https://www.essaytown.com/subjects/paper/popularity-social-media-marketing/7102572.