QUESTIONS:
1. What is Social Media?
Social media is a communication tool that was created with the objective of sharing
content
in real-time by users. Different from other media platforms
such
as tv programs, magazines, and movies, the launch of social media has allowed common people to create
content
without being dependent on professional productions.
The most common online activities include photo sharing, business networks, reviews, blogging, online gaming, social networks, video sharing virtual worlds, and so on.
The design of these communication tools can vary in terms of formats and forms of access. A common characteristic of social media is that they internet-based, which makes it possible to give a quick electronic communication among consumer. Starting with Facebook, the majority of its use was made accessing a website in computers. Nowadays, Social media
such
as Instagram and Snapchat are more present on apps that can mostly be accessed by Smartphones and tablets.
Originated as a platform to connect friends and relative, Social Media now connects different peoples as well as share information around the globe. Having
this
significant
impact
on society,
such
websites and platforms started to be adopted by businesses as a form of promoting its products and services to potential consumers.
2. How has it impacted the marketing landscape?
The
first
impact
of Social Media was the empowerment of
costumers
since they become creators and not merely watchers. While in conventional marketing the clients are under the influence of marketing managers that decide the products, services, and the
content
will be presented,
costumers
started to influence and control the marketing using social media platforms.
The
second
impact
over the marketing landscape was that today users can decide what they can share on their profiles following their personal preferences.
Therefore
,
although
marketers can create products and advertisements, the choice of sharing the
content
and making products popular relays on users.
These transformations have changed the social scene since it gives voice to minority groups that were for decades ignored and stereotyped by traditional marketing;
consequently
, advertisements have become more respectful and diverse
with years ago.
The
third
impact
was in Market Research that has allowed continuous and detailed
feedback
from clients due to direct contact with consumers. While in the conventional market companies had to invest in expensive and long surveys or focus groups to receive accurate
feedback
, with the launch of social media, the public response can be
on online communities, reviews, the company’s profile and so on.
An addition transformation related to social media and fast
feedback
is on the development of new products to attend clients’ demands. The process in traditional marketing to create innovative goods involves Research and Developments as well as limited
feedback
from
costumerssomeone who pays for goods or services
.
By contrast
, with social media,
costumers
are part of the brand team to develop superior products.
3. Is it
in addition
to or substitute for traditional marketing? Provide examples.
Currently, in spite of the rapid growth in the number of users as well as social media’s influence, conventional marketing still is a reliable alternative to engage a wider audience.
Therefore
, considering multinational and national organizations, these platforms may not substitute the engagement result from television and conventional advertisements.
Nevertheless
, the necessity of conventional marketing is not a common point in all industries, especially among younger publics.
A great example is the brand Kylie Cosmetics and Kylie Skin, companies founded and owned by Kylie Jenner. With the net worth estimated in US$1 billion,
this
media personality developed and enhanced her personal
the social media engagement of followers in sales
diverse products. Despite using mainly social media platforms to promote her products
instead
of traditional marketing, she became the world's youngest billionaire in March 2019.