Social media have quickly gained attention and share among a myriad of consumers and firms, often at the expense of traditional media. Companies have begun to redefine crucial facets of their marketing mix. Yet the authors consider that this would be a mistake, because the two strategies are complementary rather than substitutive.
A comparison of marketing and word of mouth suggests that social media mind different rules than does conventional advertising. Social media can begin dialogues or build brand recognition, but the results are far harder to predict or quantify. With that in mind, the authors recommend the best way to define a social networking strategy, citing instances of businesses that got it right - and offering cautionary tales of those that got it wrong.
PUBLICATION DATE: June 15, 2011 PRODUCT #: IIR051-PDF-ENG
This is just an excerpt. This case is about SALES & MARKETING
