Marketing and New Technology Essay Example | Topics and Well Written Essays - 2500 words

Marketing and New Technology - Essay Example Social media allows people to connect with each other and at the same time share information. The relationship between marketer and consumer is a lot more interactive. Consumers are free to express their views and opinions about products and services, and hence marketers get customer feedback which would not have been possible in traditional media. There are various advantages or benefits that social media technologies offer that make it more attractive to marketers. Marketers are able to track and trace consumer behaviours, track the effectiveness of marketing campaigns, target specific consumers, create communication channels for consumers to interact with each other, and many more. There are numerous forms of social media forms or technologies that companies can use to market their products and services. Most popular ones are social networks, blogs, microblogs, social bookmarking and voting, media-sharing sites, review sites, forums and viral marketing. Qualitative research has be en employed and secondary data has been used in constructing this paper. There are some issues that need to be considered such as unethical practices and misuse social media technologies safeguard of customer information, etc. ... Marketing communication is not anymore targeted to individual customers but communities and groups of individuals who share a common interest or ideology. Communication channels are such that conversation can now be out in front of millions of people with a lot less time and money. Many believed or saw the above mentioned development as death of advertising but it is far from the truth. All the changes mentioned above are a result of advent of internet and World Wide Web, and in turn the emergence of social media as a platform for marketing. Social media revolution is a result of new technologies and innovations that have been developed in the last decade or so, that has completely redefined marketing and has resulted in the rebirth of advertising. Social media revolution has brought a whole new dimension to marketing. There is no need to outspend your competitors if you can outsmart them. Technologies like twitter has made it possible to get the market pulse at your finger tips inst ead of having to spend thousands on focus groups. Technologies and services like Facebook, Twitter, YouTube, etc are at the forefront of social revolution. Facebook has around 250 million users while Twitter has 14 million users. YouTube attracts 100 million viewers per month while blogs have 346 million people (Zarrella, 2009). There is no bigger platform than social media platform for companies to market their products and services. This paper is a literature review and critical discussion on how new technologies of social media has revolutionised marketing. Going forward social media will account for majority of marketing of business worldwide. Consumers are starting to play an increased role in influencing each