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Role of Social Media in Contemporary Marketing

Role of Social Media in Contemporary Marketing

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Published by groovygenie
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12/03: This literature review is part of University of Chicago Graham School of General Studies's 'Insights and Opportunities in Social Media ' certificate program. Read my blog post on this: http://agroovyweb.com/2010/03/11/university-of-chicago-and-my-literature-review-role-of-social-media-in-contemporary-marketing/
10/12: Received a Distinction grade for overall Final Year Project, including this component.

A literature review on how social media can affect or assist in contemporary marketing. Written and submitted for my BA (Hons) Marketing Management program's final project.

Appreciate your reviews and comments.
Updates
12/03: This literature review is part of University of Chicago Graham School of General Studies's 'Insights and Opportunities in Social Media ' certificate program. Read my blog post on this: http://agroovyweb.com/2010/03/11/university-of-chicago-and-my-literature-review-role-of-social-media-in-contemporary-marketing/
10/12: Received a Distinction grade for overall Final Year Project, including this component.

A literature review on how social media can affect or assist in contemporary marketing. Written and submitted for my BA (Hons) Marketing Management program's final project.

Appreciate your reviews and comments.

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Published by: groovygenie on Sep 18, 2009
Copyright:Attribution Non-commercial

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07/10/2013

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 Role of Social Media in Contemporary Marketing
By Isman Tanuri
Email:
isman.tanuri@gmail.com
+ Blog:
groovygenie.wordpress.com
 Twitter:
@groovygenie
LinkedIn
: linkedin.com/in/ismantanuri
Del.icio.us:
delicious.com/groovygenie
 
1
 
 A Literature Review 
:
Role of Social Media in Contemporary Marketing
By Isman Tanuriisman.tanuri@gmail.com groovygenie.wordpress.com 
Section 1
1.1 Introduction 21.2 Background 3
Section 2:
2.1 Marketing with Social Media 52.2 Influencing with Social Media 72.3 Social Media and CRM 112.4 Communicating with Social Media 122.5 Other Approaches to Social Media Marketing 16
Section 3
Summary and Conclusion 18
References
19
Appendix A-C
22-24
Copying, altering or plagiarising of content is wrong.Otherwise, feel free to use, print or quote this document.
 
 Role of Social Media in Contemporary Marketing
By Isman Tanuri
Email:
isman.tanuri@gmail.com
+ Blog:
groovygenie.wordpress.com
 Twitter:
@groovygenie
LinkedIn
: linkedin.com/in/ismantanuri
Del.icio.us:
delicious.com/groovygenie
 
2
 
 A Literature Review:
Role of Social Media in Contemporary MarketingSection 1
 
1.1 Introduction
The sudden emergence of social media in the public realm and the realisation of apowerful and coordinated online consumer-force have raised alarms in corporate officesall over. As consumers increasingly influence each other and share opinionated viewson brands and products on the internet, businesses are compelled to rethink andreorganise marketing and communication strategies in order to address this ‘threat’ totraditional ways of doing business.
Changed Landscape
However, as with any shift in philosophy and trend adoption, understanding the truebenefits of leveraging social media in marketing initiatives continues to be a challengefor business organisations. Many question the value of investment in social media andits direct influence on revenue generation. Others question the wisdom of ‘easingcontrol’ over the brand to customers and risking further exposure to public scrutiny.Hence, many early commercial approaches to social media are misguided and flawed astraditional corporate objectives are in disparity with social media’s concept of open andtransparent engagement with the marketplace. Nonetheless, this sentiment is beginningto change and marketers are increasingly embarking on social media campaigns insupport of traditional marketing efforts.
Review Objectives
This literature review will attempt to discover whether current social media theories andconcepts are relevant and applicable to long-held marketing principles and businessphilosophies. This review will highlight and critically examine articles and key expertviews on the use of social media as a tool in a consumer marketing environment.Through a detailed discussion, the general consensus and established practices of enterprise social media activities will be ascertained and that social media will indeedrepresent a new frontier that will be beneficial and relevant to the marketing discipline.
 
 Role of Social Media in Contemporary Marketing
By Isman Tanuri
Email:
isman.tanuri@gmail.com
+ Blog:
groovygenie.wordpress.com
 Twitter:
@groovygenie
LinkedIn
: linkedin.com/in/ismantanuri
Del.icio.us:
delicious.com/groovygenie
 
3
 
1.2 Background
Social media is currently an evolving ‘phenomena’ in business marketing. Enlightenedmarketers are beginning to drive the use of social media as a component in their marketing strategy and campaigns to reach out to customers and fans. Among the sub-disciplines of marketing that may utilise social media include promotions, marketingintelligence, sentiments research, public relations, marketing communications andproduct and customer management. Appendix A provides statistical information of socialmedia adoption across networks and around the world. 
New Media Channels
Social media is described as the “shift in how people discover, read and share news,information and content” (Solis, 2007a). People are doing so through the internet in theform of blogs, social networks (eg.
Facebook 
,
Myspace
,
Orkut 
), news aggregators (eg.
Digg 
,
Stumbleupon
), video and music portals (eg.
YouTube
,
Last.FM 
), socialbookmarking (eg.
Delicious
,
Reddit 
), micro-blogging (eg.
Twitter 
,
Plurk 
), online forumsand reviews (eg.
 Amazon
,
Yahoo Answers! 
) and other social communication channels(see Appendix B for overview of social media tools). This has been made possiblethrough converging technological evolutions on the internet, dubbed ‘
Web 2.0 
’, theinternet as a 2-way communication platform (O’Reilly, 2005). O’Reilly further explainsthis revolution as the era of participation and of harnessing the collective intelligence,also referred to as the ‘wisdom of crowds’This surge in consumer online activity and user-generated content is termed the‘groundswell’ by Forrester researchers, Charlene Li and Josh Bernoff (2008) in their book of the same title. As the groundswell began exhibiting collective influence throughsharing on the internet, businesses began to take notice and seek ways to participate inthe ‘conversations’. Enterprises, such as
IBM 
and
Lego
, began building their owncommunity forums, and corporate blogs, including
Dell 
’s and
Ford 
’s, began appearing toreach out to customers (Li and Bernoff, 2008).In time, the marketing function also began integrating social media in campaigns. Theuse of Facebook and Twitter to market products and services are beginning to receiveattention from businesses in recent years. Primary to these widespread adoption are its

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