THE CHALLENGES AND BUSINESS POTENTIAL OF SOCIAL MEDIA AND THE TRANSFORMATION OF NOWADAYS CORPORATE COMMUNICATIONS

Andreea Ionescu and Cristian Ionut Tatu

Revista Economica, 2012, vol. Supplement, issue 3, 210-217

Abstract: Customers presently interact with companies in ways unimaginable even five years ago. The rapid growth of Social Media provides organizations with a great deal of information and yet, marketing practitioners seem to have a limited understanding of what Social Media exactly means, how it can be best used and quantified. This article intends to provide some clarification by describing the concept, and emphasize the difference from related concepts. We then provide a classification of Social Media which groups applications currently subsumed under the generalized term into more specific categories by characteristic.Finally, we present some pieces of advice for companies which decide to utilize Social Media.

Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:blg:reveco:v:supplement:y:2012:i:3:p:210-217

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