Name: Melissa M. Mutrie
Student no: 201006366
Lecturer: Pheladi Tracy Lefika
Due Date: 11 March 2013
Topic: “Discuss the impact Social Media has had on the global economy as far as business-related interaction is concerned”.
Table of Contents
2. A definition of social media
3. Customer relations and the retail sector
4. The impact of social media in the marketing business sector
9 5. Conclusion
6. Reference list
The emergence of social media has made it possible for people to communicate with thousands of other people around the globe, concerning products and the companies that provide these goods and services to people. The internet has made a tremendous change to social media in terms of people using it as a technological tool for research. Social media is an industry that has developed enormously and is daily improved by advanced technology. It has the advantage of connecting people around the world and also to keep the world up to date about the happenings around the world. Social media is used by a lot of people (adults and children) to complete something that they are doing. For example, research on a specific topic on the internet, school work, instant messaging to friends and family, updates on celebrity gossip, sharing views and insight about the latest technology and also the latest fashion trends. However, social media has its competitors in the industry that provides similar information and features to people based on a specific topic, but these social media’s are different to one another in the sense that they provide and offer different themes, different external sources and subscription fees. Social media does however; increase the production of employees in businesses, due to media making their work less but interesting and fun and also less monotonous. Social media increases the creativity of employees that work in the advertising industry, as well as, those employees that work in the marketing department of business. Social media is enjoyed mostly by those who have easy access to media. Most people are not fortunate enough to have access to social media sites and therefore, they are unable to connect to their friends and family, as well as, to most of the things that take place in the world. There is an enormous amount of social media blogs that people make use of today, e.g. Facebook, Twitter, You Tube, Digg, Flickr, Mxit, and so much more. Therefore this report will discuss what social media entails, as well as, the effectiveness of social media in the business world. This report will also discuss customer relations and the retail sector and the positive impact of social media in the marketing business sector. Research question
“How does the effectiveness of social media tools, such as Twitter and Facebook, effect customer relations and how does companies utilise social media as a tool in the marketing business sector?” Sub-headings that will address the research question above are as follows: * What is social media?
* How customer relations are defined and what impact does it have on the retail sector? * How companies utilise social media as a marketing tool and why?
2 The definition of social media
According to Ward (2013), social media can be defines as “ a type of online media that expedites conversation as opposed to traditional media, which delivers content but doesn’t allow readers, viewers, listeners to participate in the creation or development of the content”. This simply means that social media is an online media that people use differently for different reasons. It’s an online media where people talk, participate, share, network and bookmark online. There is a wide variety of social media tools that is used by people and business to create and implement something that they will use for their own purposes. Social media also has a...
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