Hi6008 Business Research For Print Assessment Answers

Question 

Explain the shift from print and traditional media to market a company’s products to social media has improved market penetration and is more cost effective?

Introduction

Social media has become an important part of the modern society which has taken over the marketing function of every industry. The invention of social media as a marketing tool has acted as a challenge for the print and traditional media. Social media has been preferred over print and traditional as it is a fast and cost effective medium for sharing information among the society. Information available on social media platforms is updated and can be accessed anytime and anywhere (Rajendran & Thesinghraja, 2014). Print and traditional media is a one-way mass communication channel which has limited the reaction of people towards the information transferred from print and traditional media.

With the use of social media, people are allowed to react to the information provided through social media. With the development of technology, new measures have been developed which are used for the promotion and marketing of the products, reducing cost and enhancing the customer base (Salman, et. al., 2011). This report will help in developing a basic knowledge of the print and traditional media as well as social media for the promotion and marketing of the products or services offered by the business. This report will also discuss the comparison between print and traditional media and social media and advantages and disadvantages associated with both types of media.

                                                                Figure 1: Print and traditional media Vs. Social media

                                                                                    Source: (Social Media, 2012)

Project objective

The objective is set with a motive to identify the goals which need to be achieved with the execution of this research project. Social media platforms are being widely used by businesses for promoting and marketing the products and services. This has contributed towards the reduction in cost involved in the promotional activities of the business. The objective of this research project is to analyze the shift from print and traditional media to social media for promoting the products and services in market, enhancing market share held by the product or service and reducing the cost of marketing the products or services.

Project scope

Project scope defines the aspects which will be covered under this research project. This research project has been executed with a motive to discuss the shift from print and traditional media towards social media for enhancing the marketing of products or services. This shift has enhanced the manner marketing function of the business is carried out. This project will discuss the different aspects related to print and traditional media as well as social media. This research will also discuss the advantages and disadvantages of print and traditional media and social media for the business and for the society. All the references added in this report are of after the year 2009.

Literature review 

In the words of Odun & Utulu (2016), Advertising techniques or tools are being used by the businesses for attracting the customers by making them aware of the products or services offered by the business. Change in the marketing aspects has affected the manner in which marketing functions of the business are performed. An evolution has been seen in the marketing sector which led to the change in the tools used for marketing the products or services. On-demand access to social media can be done as per the need of the business and society. Business and society can access the information stored or shared on social media platforms. Buyers are depending on the media for gaining information related to the products or services offered by the business.

Use of social media platforms has helped businesses by providing business opportunities for the growth and success. These changes in the marketing aspects have affected the traditional concepts. Both these forms of media are being used by the businesses and are competing with each other. Every company is focusing on using social media as a marketing tool for enhancing market penetration process. Traditional media has limited the access to information for the business as well as for the customers (Shivarudrappa, 2014). Increasing use of internet has resulted in the use of the mediums which helps the customers in getting more engaged in the business and products or services provided by them. The Internet has acted as a global new medium for the businesses. All these changes in the marketing field have been identified from the starting of the last century. Previously social media platforms were used by people for interacting or communicating with each other. Every company focuses on applying most suitable and effective measures for reaching and attracting customers. Use of social media is growing with the change in the business environment and technology (Thesinghraja, 2014).

In the words of Patil (2011), print and Traditional form of media can be explained as the one-way communication process which helps in communicating with the society with the help of television, radio, newsletters, newspapers and other print publications. This form of media is a non-technological media which is flexible in nature and is a less expensive medium for communicating with society. Reach of traditional media is limited to these forms of media are culturally rigid. Print and traditional media have been the source of development of the different economies. The contribution of print and traditional media for the businesses is remarkable as the use of print and traditional media has resulted in sharing of information and transfer of knowledge. Different sections of the society are still far away from the use of technology and social media platforms. Print and traditional media are used for reaching those sections of the society. Use of different forms of media is dependent on the demographic condition of the nation. Various companies are using print and traditional media for promoting its products among the different sectors of the society. This use of print and traditional media is getting reduced due to the technological advancements. Print and traditional media have shaped the initial stages of marketing which has contributed towards the success and growth of the business (Stephen & Galak, 2009). For example, Sonera a telecommunication company has used print media for the purpose of highlighting the 4G wireless speed. Another example is of Nivea, as this company has used print media in an innovated form. Nivea has selected print media for the promotion of its sunscreen products with the help of a print advertisement which had a solar panel for charging cell phones (Oetting, 2017).

Evans & McKee (2010) explained social media marketing as the techniques which are being used with a motive to target the social networks and applications for promoting the brand name or products by spreading awareness. With the change in the technology, there has been a change in the media used for the marketing of the products or services of the business. Initially, social media was only used for entertainment purpose but with the change in the environment, it has been used as an effective marketing tool. Social media platforms have enhanced the communication process between the business and customer or potential customers of the business. Social media platforms are being used as a tool for engaging the customers. Various challenges are being faced by the global businesses and a need arises to use a medium for reaching a large number of people in minimal time for promoting products or services. Use of social media has served as a two-way communication process for the business and customers. Social media marketing has provided various benefits to the business and this has attracted businesses towards social media marketing. Companies are capable of covering the global market with the help of social media platforms. The focus of the social media marketing is on the customers rather than on the products. Marketing is a tough task and there is a need to use technologies for enhancing the quality of marketing function (Cowden, 2014). For example, Oreo has used social media platforms for attracting the customers towards it. A vine video was created by Oreo in which classic horror films were presented with cookies (Guest, 2015).

According to Dominick (2009), print and traditional media was widely used by the businesses for promoting products or services. With the change in the time, business environment and technology, there has been a change in the media used by the businesses for the marketing of its products or services. Impact of social media can be seen on the decreasing use of print and traditional media by the businesses. Print and Traditional media are based on a one-to-many paradigm where a message is created and transmitted by the businesses with the help of print, radio or broadcast. In print and traditional form of media, there was no focus on word of mouth as the focus was placed on spreading the brand message among the society (Mahmud, 2009). On the other hand, social media is a two-way communication system which promotes interaction between the business and customers. Businesses have considered word of mouth more powerful than the brand message spread among the society by the business. The Internet has been considered as a simple and widely recognized tool which serves as a communication channel between the people all around the globe. With the change in the environment, people have started using social media platforms for the purpose of connecting business with people and people with business all around the globe. Social media has played a vital role in the transition of the marketing world. It has made marketing an effective, efficient and attractive approach (McQuail, 2010).

Various reasons are responsible for this shift from one form to another form of media. There were few limitations attached with the use of print and traditional media which have affected the choice of the businesses. Marketing departs of the huge companies started making use of internet banners and media advertisements for gaining the attention of the customers. With the increasing popularity of social media platforms, marketing departments of the companies were forced to include social media marketing in its marketing plans. With the increase in the companies attaining growth and success by using social media marketing, there was a shift from print and traditional media towards social media (OSCE, 2012). New opportunities attracted the companies towards the use of social media marketing. These new opportunities include gaining a large number of followers, providing latest updated information to the customers, promoting the products offered by the business in an effective manner, eliminating the additional cost of marketing, dealing with the rising competition and attracting the customers (Patrick, 2013).

Paquette (2013), stated that print and traditional media is an old concept which is applied by the business for making people aware by spreading information among them. On the other hand, social media is a new and innovative approach which is adopted by businesses for interacting with the customers with a motive to attract them and enhance the customer base of the business. The comparison can be made between the print and traditional media and social media on the basis of different aspects. These aspects include cost, time, efforts, effectiveness, accuracy, reliability, communication process, trust, and feedbacks.

According to Arca (2012), Print and Traditional media is a one-way conversation tool which limits the interaction between the business and people. This limitation of print and traditional media has affected the marketing function of the business. The concept of networking is not present in the print and traditional media. No further discussion can be made between the customers and business. On the other hand, social media is a two-way conversation tool which has enhanced the flow of information or interaction between the business and people. Social media is based on the concept of networking. It is considered as a pull way strategy has this media is focused on enhancing the two-way communication and interaction. Social media has provided space and scope for engaging the people in discussion with the business. Customers hold the power to provide feedbacks to the business about the products or services and satisfaction level derived from the consumption of products or services (Athey, et. al., 2013).

Print and traditional media incur a high cost to the business which creates an impact on the profitability of the business. Due to the limitation on the interaction between the business and customers, the satisfaction level of the customers gets affected. Traditional media has proven ineffective in comparison to social media. The popularity and demand for the print and traditional media have decreased with the change in time and technology. It has been estimated that change in the business environment and technology will overtake the print and traditional media. Both forms of media are aiming at informing the customers about the products or services but the way it is done and the impact they make on the customers differ from each other (Wright, et. al., 2010).

Print and traditional media help in communicating with the real world. Print and traditional media include advertising through magazine, newspapers, radio, televisions and other print advertising. This form of media can be touched, felt and heard by the customers. Face to face selling is possible in print and traditional media. Marketers use this form of media for interacting face to face with the customers, promoting the products and collecting feedbacks. This form of media is forced on the customers as well as there is no interaction between the customers and business. Print and traditional media is a closed system with opaque nature. This form of media is used for mass marketing which is done by following top-down strategy (Agboola, 2014). On the other hand, social media has resolved the problems faced by the business due to the print and traditional media. The coverage area of social media is large as well as the cost involved in this form of media is low. It helps in building communities which have boosted the sales of the business. The only limitation associated with social media is the dependence on the interaction of the customers with social media platforms. Social media is an open system with transparency. Social media is used for one-on-one marketing which is a real time creation adopting a bottom-up strategy (Edosomwan, et. al., 2011).

According to Sashi (2012), Social media follows a one-on-one marketing strategy which allows the business to focus on every customer and enhancing the satisfaction level of the customers. It has resulted in the greater personalization of the content of the message, visibility of the advertisement and promotes interaction. Customers have the right to make a selection for receiving the content on the basis of their choice. Social media has made it possible to interact or communicate with the customers and it is a cost effective approach which has reduced the marketing cost of the business. Business can easily record and collect data related to the demands, needs, and feedbacks of the customers towards the products or services. Real time results can be generated with the use of social media. Companies are capable of developing the personalized messages as per the expectations of the customers. Analysis of the demand of the customers can be done with the help of social media. Social media is an effective approach for driving brand penetration (Batra & Keller, 2016).

Conclusion

Thus, from the above discussion, it can be summarised that there has been a shift from print and traditional media to social media for enhancing the performance of the business and enhancing the manner through which business is communicating with customers. This report has provided knowledge of both forms of media along with the shift from one to another form of media. Use of social media has resulted in an increase in the effectiveness of the marketing function of the business. Print and traditional media is a one-way communication tool and on the other hand, social media is a two-way communication tool. The discussion has been made regarding both the aspects by comparing them with each other. There are various advantages and disadvantages of using print and traditional media and social media. These advantages and disadvantages have been discussed in this report. Both forms of media have been used by business depending on the need of media.

References 

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