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Impact of Social Media on International Marketing
Pages 14 (3514 words)
Impact of Social Media in International Marketing Introduction Social media is a new medium of communication on the Internet through the use of audio, video, text, images or a combination of these (Luukka). Social media is a useful tool of communication for individuals, businesses and firms.
Even though a lot of firms acknowledge the potential of the social media to transform the way business is conducted, only a handful have actually gone into action and implemented the strategic changes needed to realize the full value of the social media. Social media promotes the free exchange of information among people. A number of the social media technologies are still in the nascent stage of development. However, the emergence of the social media has had a powerful impact on enterprises. In the coming years, social media has the potential to change the landscape of the business environment and the way organizations conduct their business operations. Companies will have to alter the way they conduct business in order to fully take advantage of the opportunities presented by the emergence of social media. Companies that quickly understand the changes brought about by social media on customer value and customer engagement will be in a good position to realize optimum benefits from the use of social media. Trends in social media business application Two decades ago, not many people could have predicted the paradigm shift in the global economy and the way business operates. Back then cars manufactured were still similar to those introduced in the 1960s. ...
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