Question

In: Economics

1. How are social media sites affecting social influence?

1. How are social media sites affecting social influence?

2. Why do companies sometimes target opinion leaders for marketing attention?

3. Why is word of mouth so important for marketers?

Solutions

Expert Solution

Ans 1-Social media sites are affecting social influence by the following points-

Coming to the positive side, it gives people a solution to stay in touch who live far away and also allow them to share fun, interesting and informative content. It also gives businesses a way to engage with customers. It plays a crucial role in interacting with one another.

But the negative side is that in some cases, real harm is done when people spread false, unverified information which can also have a harmful effect on society. Moreover, a great deal of content is also spread through memes, images which may or may not be valid.

According to a study social sharing has encouraged people to use computers and mobile phones to express their concerns on social issues without actually having to engage actively with campaigns in real life. Their support is only limited to the 'Like' button or sharing content.

Ans 2-Companies sometimes target opinion leaders for marketing attention because opinion leaders can validate a company's product or idea.

Many marketers often look out for opinion leaders for advertising campaigns, collaboration, or product endoresements.

Partnership of both increases a brand's visibility and builds trust between the business and influencer's audience.

Ans 3-Word of mouth recommendations are a vital marketing tool for any brand because they from those sources which are familar to us already, that is friends and family.

Another reason is that due to 'Buzz's user generated content can induce, they are likely to be more trustworthy and valuable.


Related Solutions

write a counter argument on how is social media affecting young adults, parents, or teens for...
write a counter argument on how is social media affecting young adults, parents, or teens for better or for worse
How does social media influence the health care industry? Provide examples.
How does social media influence the health care industry? Provide examples.
2. A researcher is examining the influence of social rejection on social media consumption. The researcher...
2. A researcher is examining the influence of social rejection on social media consumption. The researcher hypothesizes that people will spend more time on social media if they have been rejected (vs not rejected), consuming more social media to console themselves. User data from Instagram suggests the population of users spends an average μ = 48 minutes a day browsing Instagram with a standard deviation of σ = 20 minutes. Using survey data the researcher identified a sample of 25...
please!!!!!!!!!!!!!1 To study how social media may influence the products consumers​ buy, researchers collected the opening...
please!!!!!!!!!!!!!1 To study how social media may influence the products consumers​ buy, researchers collected the opening weekend box office revenue​ (in millions of​ dollars) for 23 recent movies and the social media message rate​ (average number of messages referring to the movie per​ hour). The data are available below. Conduct a complete simple linear regression analysis of the relationship between revenue​ (y) and message rate​ (x). Q1: Determine the estimate of the standard deviation. s=????? Q2: What is the test...
1. Review websites, billboards, newspaper ads or social media sites of casinos in any gaming jurisdiction....
1. Review websites, billboards, newspaper ads or social media sites of casinos in any gaming jurisdiction. Find a promotion that you believe is designed to target new customers, to attract them to visit your casino. Keep in mind this would be something that does not require membership in the player club. Something that would attract a customer to the casino for the first time. Post a comment explaining this promotion and why you think it is targeting new customers. Be...
5) a) Describe how social media differ from traditional commercial media and how they (social media)...
5) a) Describe how social media differ from traditional commercial media and how they (social media) redefine and extend the traditional three-party business model (producer, buyer or consumer, third parties) of commercial media. b) Use a social media platform of your own choice to illustrate ways by which social media redefine and extend the traditional practices of commercial media and the business models that commercial media have traditionally used.
Describe how social media differ from traditional commercial media and how they (social media) redefine and...
Describe how social media differ from traditional commercial media and how they (social media) redefine and extend the traditional three-party business model (producer, buyer or consumer, third parties) of commercial media. b) Use a social media platform of your own choice to illustrate ways by which social media redefine and extend the traditional practices of commercial media and the business models that commercial media have traditionally used.
a) Describe how social media differ from traditional commercial media and how they (social media) redefine...
a) Describe how social media differ from traditional commercial media and how they (social media) redefine and extend the traditional three-party business model (producer, buyer or consumer, third parties) of commercial media. b) Use a social media platform of your own choice to illustrate ways by which social media redefine and extend the traditional practices of commercial media and the business models that commercial media have traditionally used.
a) Describe how social media differ from traditional commercial media and how they (social media) redefine...
a) Describe how social media differ from traditional commercial media and how they (social media) redefine and extend the traditional three-party business model (producer, buyer or consumer, third parties) of commercial media. (1000 words) b) Use a social media platform of your own choice to illustrate ways by which social media redefine and extend the traditional practices of commercial media and the business models that commercial media have traditionally used. (1000 words)
The Main Topic is: Social Media - How to use Social Media to Attract and Retain...
The Main Topic is: Social Media - How to use Social Media to Attract and Retain Customers in a sales organization. It is not really important to know exactly what type of sales organization, but if you need that background, chose an organization that sells a product or service by means of a commission driven sales force. DO NOT WRITE A PAPER ABOUT INTERNET DIRECT SELLING.About 1000 words.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT