Social Networking is establishing itself as a significant economic activity. New communication and interactivity channels are opening up for marketing. The video below is an interesting development of the original 'Did You Know?' video
Th link to the source and additional info in Socialnomics - The Social Media Blog
http://socialnomics.net/2009/09/24/new-shift-happens-did-you-know-video-shows-the-shift-is-to-social-media/
Q1. How is consumer behaviour changing?
Q2. What are the implications for marketing?
Q3. Is this all just hype?
1 comment:
Consumers are moving to the more trusted avenues of product information (namely friends and family through social media) which i think is a direct response to consumers being ripped off or mislead by traditional avenues of marketing. Marketing can have a much easier and inexpensive method of "spreading the word" through social media as it is a free medium. The main implications for marketing is moving toward a "transparency or non-transparency" approach. "Transparency marketing" being where the consumer can openly criticise or offer feedback and the company will reply. The issue with this is not that the company has complaints but if the company will address these complaints. "non-transparent" marketing is left to companies that would rather leave curiosity in the hands of the consumer and not give too much information about there brands. I don't believe that it is hype as socialnomics has - dare i say it - capitalized on "word of mouth" marketing.
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