Social media has changed how consumers get information about products in several key ways:
1. Social media platforms like Facebook and Twitter collect vast amounts of user data that allows advertisers to target consumers with highly specific ads based on factors like location, age, interests and past behaviors.
2. Users regularly share product reviews, experiences and recommendations on social media, allowing potential customers to easily access opinions from friends and strangers about products and services.
3. Companies can promote their brands and specific products through social media advertising and by encouraging existing customers to share content about products organically. Viral videos and posts can expose products to huge new audiences cost-effectively.
Social media has changed how consumers get information about products in several key ways:
1. Social media platforms like Facebook and Twitter collect vast amounts of user data that allows advertisers to target consumers with highly specific ads based on factors like location, age, interests and past behaviors.
2. Users regularly share product reviews, experiences and recommendations on social media, allowing potential customers to easily access opinions from friends and strangers about products and services.
3. Companies can promote their brands and specific products through social media advertising and by encouraging existing customers to share content about products organically. Viral videos and posts can expose products to huge new audiences cost-effectively.
Social media has changed how consumers get information about products in several key ways:
1. Social media platforms like Facebook and Twitter collect vast amounts of user data that allows advertisers to target consumers with highly specific ads based on factors like location, age, interests and past behaviors.
2. Users regularly share product reviews, experiences and recommendations on social media, allowing potential customers to easily access opinions from friends and strangers about products and services.
3. Companies can promote their brands and specific products through social media advertising and by encouraging existing customers to share content about products organically. Viral videos and posts can expose products to huge new audiences cost-effectively.
(USB) Assignment No. 3 Subject Name : Marketting Management
BBA Sem/Year: 2nd Sem, 1ST Year
Date of Submission: 07/04/20
Submitted To: Submitted By:
Faculty Name: Ms Manpreet Kaur Student Name: Smarth Sawhney
Max. Marks: ……………………………. Batch: 2019-22
Marks Obtained: ………………………. UID: 19BBA1748
Faculty Signature……………………….
Date: …………………………………….
Acknowledgement by the student after viewing the evaluated copy.
Student Name: Smarth Sawhney
Signature : Smarth Sawhney Date:07/04/20 Question 1 = 1.IN WHAT WAYS HAS SOCIAL MEDIA CHANGED THE WAY CONSUMER GETS INFORMATION ABOUT THE PRODUCTS ? Answer = Social media refers to websites and applications that are designed to allow people to share content quickly, efficiently, and in real-time. ... The ability to share photos, opinions, events, etc in real-time has transformed the way we live and, also, the way we do business. Over the past few years, the pervasiveness of social media in our society has desensitized us to what’s really happening. While it’s easy to take social media for granted, we shouldn’t forget the many benefits that these platforms afford us. From marketing and advertising to customer service and everything in between, social media has had a quantifiable impact on the way businesses engage consumers.
Social Media and Marketing
In the past, marketing and advertising focused on the four P’s: Product, Price, Place, and Promotion. But social media has expanded this to include a fifth P: People. Platforms like Facebook and Twitter have so much data that - for the first time ever - advertisers can invest in highly-targeted, cost- effective advertising. “ Early on, Facebook was criticized by advertising analysts as a fun place to hang out, but a network with little commercial intent or potential for consumer insight. “That changed early in 2013 when Facebook forged partnerships with
data brokers including Epsilon, Acxiom, and
Datalogix.” Facebook now has 500 million-plus active users, with an average of 1,500 data points per person. If a user gets married, Facebook knows it. If a user is looking for a job, Facebook can tell. If a person suffers from diabetes, Facebook is aware. There’s virtually no limitation to what Facebook knows about a person. For advertisers, this is a dream. Facebook’s native advertising platform allows advertisers and businesses to focus on ultra specific audiences. For example, a sporting goods store in Atlanta can choose to display ads to parents in the state of Georgia who earn $50,000 to $75,000 per year and have kids between the ages of 8 and 15. That’s what the business world calls a game-changer . Question 2 = EXPLAIN THE ROLE OF THE COMPANY ALLOCATE TO YOU IN PROMOTING VARIOUS PRODUCTS AND SERVICES ON SOCIAL MEDIA . Answer = YouTube = YouTube is an American online video-sharing platform headquartered in San Bruno, California. Three former PayPal employees— Chad Hurley, Steve Chen, and Jawed Karim— created the service in February 2005. Google bought the site in November 2006 for US$1.65 billion; YouTube now operates as one of Google's subsidiaries . YouTube ads allows advertisers to increase their potential in marketing as one can advertise when a user watches or searches for videos – and only pay when they show interest. Viral video is the term for a video that spreads quickly to a large audience on the internet. Viral video is the term for a video that spreads quickly to a large audience on the internet. YouTube now houses major viral videos and traffic from all other different social media platforms. Companies can redirect consumers from platforms like Facebook, Twitter or Instagram to YouTube videos to draw public attention, in turn, making a video viral. Various Ad Formats on YouTube: 1. Display Ads: These ads are built for Desktops, and appear to the right of the feature video and above suggestions list. They come in a resolution of 300x250 or 300x60. 2. Overlay Ads: These are semi-transparent ads, built for desktops and are displayed on the lower 20% portion of your video. They come in resolution of 468x60 or 728x90 and also as image or text. 3. Skippable Video Ads: These are skippable ads built for all platforms available. It allows users to skip an advertisement after 5 second of its playback, if they choose to. These ads can be put before, during or after the main video. 4. Non-skippable Video Ads: These are the compulsory ads that can not be skipped and have to be seen to resume with the main video. They are built for desktop and mobile devices, plays in video player and are of 15-20 seconds (based on regional standards). 5. Bumper Ads: These ads are non- skippable, built for desktop and mobile, and run up to 6 seconds. These appear during the main video playback and may even come up consecutively depending on the length of the main video. 6. Sponsored Ads: These ads display content, such as products featured in the video, that are relevant to you. Viewers will be shown a teaser for the card for a few seconds, and then will be minimised to top-right corner of the video. YouTube offers a number of opportunities for various types of ads, which are not only limited to static ads, but also video. Also, YouTube comprises of users of all age groups, and thus ads of all sort of products and services could be serviced.