Social Networking and the Potential Challenges for Marketing

Today, marketers and media companies face a changed environment, affected mostly by the rise of the Internet era. The emergence of various technology applications, combined with the global change of customers is affecting the communication between marketers and consumers. Consumers and marketers are changing their roles; consumers are now media producers, programmers, and distributors, through the use of the social networking applications. The aim of the thesis is to analyze this trend, to predict its lifetime and to provide useful insights for the parties that are involved in it. Main point of evaluation are; the structure of the social media marketing ecosystem; the impact that social networking has on the business environment; the relationship of social media and the conventional media, and the legal and ethical concerns of the use of social media. Social networking is a new, experimental trend that has been accepted by many companies, as a part of their communication strategy. The trend has introduced many challenges for businesses, both positive and negative. To seize the positive challenges, marketers need to invest further in learning the rules of the new marketing trend, and in improving their social networking strategies.