The key concept underlying the competitive strategy is the fact that the GP representing consumers' willingness to pay "a premium price for a product or service. With branding and other efforts, companies tend to defend their posts, and create a high willingness to pay, with the result that consumers feel that few or no substitutes, these companies sell. Social media, however, makes a push-based marketing anachronism. Social network users tend to avoid professional communication forced them faceless and impersonal organizations, in favor of a more personal conversations. These people tend to be more interaction with their preferred brand, and participation, with or without the approval of the company in creating brand identity. Their proximity of these preferred brands may well promise the dawn of a new GP: willingness to participate. This article presents a model of consumer interaction through social media, and argues for re-interpretation of WTP, using a number of examples that show how the companies that consumers via social networks (eg, Facebook, Twitter, YouTube) stand to benefit from long-term competitive advantage. "Hide
by parents Michael Kirk Plangger, Anjali Bal Source: Business Horizons 11 pages. Publication Date: May 15, 2011. Prod. #: BH431-PDF-ENG
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