How the social media can benefits a new company with that much competition - Essay Example

Social media is undoubtedly effective newest tool and strategy for growing a new or an existing business. Hundreds of social media networks are obtaining wider popularity across the globe since more and more business people are tempted to use social media to share their views, ideas, feelings and information with others. Social media is about how people use internet for their communication purposes. Social media refers to any of the many online tools that allow people to share information and learn from others through a communication network in an open process.

Social media thus refers to online contents that are created and consumed by regular people for each others. As Singh and Diamond (2012, p. 10) noted, it may be comments a person adds at the end of a website- article or family photograph he uploaded to a photos-haring site or a video he uploaded to a video-sharing site. Until the last decade, businesses had to use direct communication for most business and marketing activities, but the emergence of social media brought tremendous changes in business and marketing communication.

It has not only brought greater opportunities for many businesses, but also posed bigger challenges for many to survive in competing with others. For a new business to be set up successfully, marketing communication is an extremely important function since its ultimate goal to reach its customers will be successful only if it can communicate its people about the business and its goals. When introducing a new brand or the existing brand with new product or service to the market, it needs to be communicated to its people to make them aware about it, to inform or persuade them to buy or to keep on reminding them about the goods or brand (Kitchen, 1999, p. 21). Social media can play pivotal role in marketing communication and thus perform the functions of advertising as well as marketing promotional activities.

A new business to be set up or an