Challenges And Opportunities That Social Media Networks Offer Media Essay

Traditional media v/s new age media

The handiness of digital media such as orbiter and nomadic phones, the digital telecasting and most significantly the cyberspace, as a agency for communicating makes Internet Marketing ( IM ) really different from the Conventional Marketing. McDonald and Wilson ( 1999 ) intricately highlighted the cardinal difference between traditional media and new media. With peculiar accents on IM the writers proposed what they call ‘The 6 Is of e-marketing mix ‘ . The writers posit that the relevancy of the 6 Is are double – ( I ) they draw accent on the practical facets of IM such as direct response and personalization and ( two ) provide an apprehension of strategic issues such as restructuring of the industry and the alterations in the incorporate channel communications.

The 6 Is of e-marketing mix ‘

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Interactivity

In the instance of traditional media the selling message is predominately broadcasted from a company to its mark audience, thereby connoting the being of a ‘push factor ‘ . This procedure of communicating provides small range for interaction with the clients. However, on the Internet, contact is initiated by the client who, in most instances, is seeking information, connoting the being of a ‘pull factor ‘ ( Deighton, 1996 ) .

Intelligence

The cyberspace renders itself as a cost effectual agencies of carry oning market research. The cyberspace is an particularly utile tool in garnering information about client perceptual experiences about the product/ service.

Individualism ( Fig 1.14 ) pg 30

As illustrated in the diagram above, new media signifiers allow selling communications to be tailored to the person that the message is meant for, unlike in the instance of traditional media wherein communicating is aggregate media and the same message is disseminated to its audiences. ( Lasswell 1984, Katz and Lazarsfeld 1955 )

Further, the built-in characteristic of ‘personalisation ‘ that new media signifiers offer to sellers is an of import edifice block in pull offing relationships with clients.

Integration ( diagram: A New Marketing Paradigm for Electronic Commerce )

The conventional selling communicating theoretical account witnesses a cardinal change in the presence of a hypermedia Computer-Mediated Environment ( CME ) like the cyberspace ( Hoffman and Novak 1996 ) . The cyberspace enables an increased range for an incorporate selling communicating.

The CME communicating theoretical account provides a platform for consumers to interact with each other, the medium and the company itself. The most drastic going from the traditional media is the chance for the consumers to bring forth content onto the medium. Hence, in the CME theoretical account the primary relationship is with the receiving system and the CME, and non between the transmitter and the receiving system, which is the instance in traditional media. ( Hoffman, 1996 )

The active function of the consumers makes it imperative for sellers to incorporate their communicating messages.

Industry restructuring.

Concepts such as ‘disintermediation ‘ and ‘reintermediation ‘ ( Chaffey et al, 2003 ) are of import considerations for companies that operate in a CME.

Disintermediation refers to the procedure of extinguishing conventional mediators such as agents and agents, who antecedently linked the company to its clients.

Reintermediation is the procedure of making new age mediators between the company and its client, given the presence of the cyberspace. These new age mediators are frequently referred to as ‘cybermediaries ‘ ( Shankar et al, 1996 ) and include practical communities like forums, fan nines and user groups, search engines like Google and Bing, practical resellers like Amazon and eBay.

Independence of location

The cyberspace provides the possibility of an increased range of a company ‘s selling communications to the planetary audience. This can frequently interpret into making international markets and audiences.

Social media webs: AN Introduction

Social media webs, though a comparatively new terrain for most companies and trade name directors had its low beginnings when ‘Open Diary ‘ was founded in 1950 ‘s with the purpose to make a community of diary authors. A few old ages subsequently, Tom Truscott and Jim Ellis introduced Usenet, allowing its users post articles to its groups. ( Kaplan et al, 2010 ) . Dating sites that enabled its users to make profiles and even update images and online forums, which were the more user friendly and sophisticated versions of BBSs ( Bulletin Board Systems ) , are all edifice blocks of the societal media webs as we know it today.

With the transition of clip and the technological developments that

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SOCIAL MEDIA NETWORKS: OPPOTUNTIES AND CHALLENGES

Social networking sites:

Social networking sites like face book, my infinite, chirrup and orkut are platforms for Internet users to make single profiles with personal information, make new friends and connect with old 1s and even for concern networking, in some instances.

Users can utilize certain applications which help them link to each other through instant messaging and directing electronic mails between each other, making individualized profiles for themselves which can be accessed by co-workers and friends etc. Such applications are known as Social networking sites. Personal profiles are extremely specialised as they are suited to the users demands. He/she can upload audio files, pictures, web logs as good photos into the profile which can be shared to other friends. Facebook is considered to be the largest societal networking site and it is interesting to observe that it was originally founded by US based Mark Zuckerberg who wanted to remain in touch with his friends in Harvard Unviersity. Myspace is besides another illustration of a societal networking site which has over 250 million users worldwide.

Tin are being used for market research with respect to netnography every bit good as making trade name communities by different companies. SNS have besides been used particularly good for advancing films for illustration when movie shapers create a fan page of their film which allows user to entree information such as dawdlers, exposures and download games for free. Similarly companies patronizing football nines have used SNS such as Myspace to let fans to experience nearer to the squads they support. Apart from marketing their merchandises through SNS other companies go to the extent of utilizing SNS as a distribution channel for their merchandises for illustration 1-800- flowers a US based florist has allowed facebook users to direct practical flowers to whomsoever they desire or send the existent 1s by directing users to their company web site.

VIRTUAL WORLDS

Platforms which exhibit a 3 Dimensional environment through which personalised embodiment signifiers of users can interact with each other similar to how they would in existent life are known as practical universes. These practical universes could perchance be the best signifier of Social Media since they involve the maximal societal presence of persons instead than merely some facets of societal life. There are two signifiers of Virtual Worlds.

VIRTUAL GAME WORLD

First there are the practical game universes which involve users following rigorous regulations through on-line function playing games ( MMORPG ) . This has gained popularity and now even standard game consoles such as the Sony Playstation and the Microsoft X box allow multiplayer options to link with users all over the universe. A celebrated illustration of a widespread practical gambling universe is the “ World of Warcraft ” which has more than 8.5 million users every bit good as Sony ‘s EverQuest. These games have become such an of import portion of lives for some people that they start retroflexing their on-line function playing character in existent life. It is besides possible to leverage the popularity of practical games into traditional communicating runs. A good illustration is when Toyota used figures from the World of Warcraft into one of its auto advertizements.

VIRTUAL SOCIAL WORLDS

The 2nd signifier of practical words is the practical societal universe which allows users to populate a practical life online. Similar to the practical game universes, practical societal universes have users in the signifier of embodiments all set in a 3D environment though there is one major difference which is the absence of rigorous regulations to which users have to stay and lodge by. This allows more room for freedom and ego presentation and therefore it has been easy seen that users or ‘residents ‘ of the kingdom convey several facets of their existent life into the on-line universe. ( Haenlein & A ; Kaplan, 2009 ; Kaplan & A ; Haenlein, 2009a, 2009b ) . A perfect illustration for practical societal universes is the Second Life application which was created by Linden Research Inc. This practical universe allows twenty-four hours to twenty-four hours activities such as speaking to other users, walking and even basking practical sunlight. Attention to item goes a measure farther due to the possibility of planing ain apparels and furniture every bit good as purchasing and merchandising goods for practical money. These practical societal universes allow a big scope of chances for sellers particularly because they can acquire good market research virtually every bit good launch a merchandise into the practical market to see how it fairs.

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