In this ever-changing fast moving world, companies need to put an extra effort to meet new challenges to reach the customers and satisfy their needs. Companies need to develop strategies to market the product in an effective way. Social media is one of the effective tools of marketing the product, as it deepens its roots way into the hearts of the customers, leaving behind the traditional promotion mix, as customers are more tending to live in virtual world of Internet technology. The emergence of Internet-based social media has made it possible for one person to communicate with hundreds or even thousands of other people about products and the companies that provide them. Traditional media or the promotion mix is one-way approach of marketising the product. Whereas, on the other hand Social Media is the hybrid element of both the traditional and non-traditional marketing. Wherein the traditional approach, the companies talk to the consumers and in the non-traditional approach it enables the consumers to talk to each other about the product. The question may arise that why is the social media gaining popularity? How and why it is the most effective way of marketing?
The answer is ‘Don’t waste my time!’
According to a recent poll by Ruder Finn, 100% of the people on the Internet go online to pass the time.
‘Thus more and more number of people are dependent on communities, blogs, You- tube .Why don’t we capitalise on this opportunity.’
Impact on consumer behaviour:
The tools and strategies for communicating with customers have changed significantly with the emergence of the phenomenon known as social media, also referred to as consumer-generated media. This form of media “describes a variety of new sources of online information that are created, initiated, circulated and used by consumers intent on...