The Effects of Social Media on a Business

Only available on StudyMode
  • Download(s) : 763
  • Published : December 15, 2012
Open Document
Text Preview
Social media has greatly changed the way people communicate and interact with one another. There are a variety of social media sites which are used worldwide, such as Youtube, Facebook and Twitter. This type of communications method is now being used by business in marketing their products. The fact that many people use social media to discuss their thoughts and views online, has caused business to alter their communications and marketing strategies to better fit the new mean of sending out messages. Social media is presently used in place of the “old-fashioned” marketing tools, such as TV, billboards, radio, etc. This new process which business use to convey messages and promote ideas or products has formed a collaboration with its customers. A business can now gain instant feedback from its customers, tackle rumors, and post any updates about the business online. Companies reported using these social media tools was helpful for several reasons. They reported that the tools provide the following: • Another way to communicate

• Added value to customers
• Product/brand awareness
• Ability to keep up with trends and competitors
• Demonstration of product
• A more cost effective and productive form of marketing. (Barnes, 2010)

Objective
This literature review will discuss the role that social media plays on businesses and the effect it has when promoting a business or marketing its product. This review will contain the view and analysis of experts in the use of social media by businesses, and in what way the media can benefit or damage the reputation of an organization. The research questions used were “How does social media affects businesses?” and “How can social media benefit a business?”. While The research questions were similar, they did offer a wide range of topics concerning the research objective.

Searching and locating literature
The main database used for the research was Polytechnic’s summons. The research questions were first used here...
tracking img