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Social Media Marketing: Do Positive Utilities to Businesses Outweigh Its Negative Utilities - Term Paper Example

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This paper critically examines the impact of social networking on big business and marketing- in particular, its positive utilities vis-à-vis its negative utilities, its role in advertising, its profitability, and finally, new trends in social media…
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Extract of sample "Social Media Marketing: Do Positive Utilities to Businesses Outweigh Its Negative Utilities"

Download file to see previous pages In the second decade of the 21st century, various studies show that social media is being used by people of almost all ages. Saying that social media has revolutionized how people interact would be an understatement. According to Zarella (2011), conversations used to take place in small groups, words disappearing as soon as they were uttered. Nowadays, conversations, even on the most mundane of things, happen in front of millions of people and remain archived for years to come. Wankel (2011) argues that it is increasingly proving to be vital in the provision of popular platforms for collaboration and rapid information sharing. This, therefore, makes it a powerful mobilization and communication tool in social, economic, political and educational spectrums (Wankel, 2011). The Iranian green revolution of 2009-10 and the Egyptian revolution of 2011 best illustrate the power of social media concerning information sharing and citizen mobilization on the political scene. Because of the protesters’ reliance on Twitter and other social networking sites for the purposes of information conveyance, the Iranian green revolution was nicknamed the “twitter revolution”.

The mere reach of social media, especially in the developed world, makes it invaluable in the marketing arena. In the old days, big corporations, with obviously bigger advertising budgets had a permanent grin as they continuously expanded their market share. Today, Small techno-savvy companies have been known to create viral videos whose multiple views go on to reach millions of people. Such a reach, with the use of traditional media, would require a massive advertising budget, which the small companies do not have. One may then argue that social networking has leveled the advertising playground. Zarrella (2009) thus refers to social media as “a great equalizer” where “small brands can make big names for themselves”. ...Download file to see next pagesRead More
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