The Impact Of Social Media On Consumer Behavior And Marketing

812 Words Sep 28th, 2015 4 Pages
1. SWAT Analysis
Strengths:
• Easy to navigate
• Innovative business tool
• Great advertisement
• Drive more sales to businesses then any other social media outlet
• Used as Market strategy for many businesses
• Doesn’t create impulse buying
• Customer relationship management for businesses
Weakness:
• Low appeal to males (18% usage are males)
• Anyone can post and pin-includes spammers and trollers
Opportunities:
• Gain more revenue: Charge for advertisements
• Promote companies
• Increase visibility by connecting to other social media outlets
Threats:
• Copy-cat apps/sites
• Spam/scams pins
• Other social media sites: Facebook, Twitter (Competition)
• Being taken by a larger Internet player (ex. Google, Amazon)
2. What is the impact of social media on consumer behavior and marketing? How are companies monetizing this technology?
The great impact that social media has on consumer behavior and marketing that has changed the way consumers have shopped dramatically. According to “Search Engine Journal”, 72% of consumers trust online reviews as much as a personal recommendation. This alone demonstrates the power of social media, and peoples comments shared on these outlets about products/services and how seriously a consumer considers these. Also, according to “Forbes”, 78% of consumers say that post on social media outlets made by companies influence their purchases. This means that’s sited such as Pinterest, and Facebook that allow companies to post and advertise…

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