Challenges And Opportunities That Social Media Networks Offer Media Essay

Challenges And Opportunities That Social Media Networks Offer Media Essay Traditional media v/s new age media The availability of digital media such as satellite and mobile phones, the digital television and most importantly the internet, as a means for communication makes Internet Marketing (IM) very different from the Conventional Marketing. McDonald and Wilson (1999) elaborately highlighted the key difference between traditional media and new media. With particular emphasises on IM the authors proposed what they call ‘The 6 Is of e-marketing mix’. The authors posit that the relevance of the 6 Is are twofold – (i) they draw emphasis on the practical aspects of IM such as direct response and personalization and (ii) provide an understanding of strategic issues such as restructuring of the industry and the changes in the integrated channel communications. The 6 Is of e-marketing mix’ Interactivity In the case of traditional media the marketing message is predominately broadcasted from a company to its target audience, thereby im plying the existence of a ‘push factor’. This process of communication provides little scope for interaction with the customers. However, on the Internet, contact is initiated by the customer who, in most cases, is seeking information, implying the existence of a ‘pull factor’ (Deighton, 1996). Intelligence The internet renders itself as a cost effective means of conducting market research. The internet is an especially useful tool in gathering information about customer perceptions about the product/ service. Individualism (Fig 1.14) pg 30 As illustrated in the diagram above, new media forms allow marketing communications to be tailored to the individual that the message is meant for, unlike in the case of traditional media wherein communication is mass media and the same message is disseminated to its audiences. (Lasswell 1984, Katz and Lazarsfeld 1955) Further, the inherent feature of ‘personalisation’ that new media forms offer to marketers is an important building block in managing relationships with customers. Integration (diagram: A New Marketing Paradigm for Electronic Commerce) The conventional marketing communication model witnesses a fundamental alteration in the presence of a hypermedia Computer-Mediated Environment (CME) like the internet (Hoffman and Novak 1996). The internet enables an increased scope for an integrated marketing communication. The CME communication model provides a platform for consumers to interact with each other, the medium and the company itself. The most drastic departure from the traditional media is the opportunity for the consumers to generate content onto the medium. Hence, in the CME model the primary relationship is with the receiver and the CME, and not between the sender and the receiver, which is the case in traditional media.( Hoffman, 1996) The active role of the consumers makes it imperative for marketers to integrate their communication messages. Industry restructuring. Co ncepts such as ‘disintermediation’ and ‘reintermediation’ (Chaffey et al, 2003) are important considerations for companies that operate in a CME. Disintermediation refers to the process of eliminating conventional intermediaries such as agents and brokers, who previously linked the company to its customers. Reintermediation is the process of creating new age intermediaries between the company and its customer, given the presence of the internet. These new age intermediaries are often referred to as ‘cybermediaries’ (Shankar et al, 1996) and include virtual communities like forums, fan clubs and user groups, search engines like Google and Bing , virtual resellers like Amazon and eBay.

Digital media research Paper Example | Topics and Well Written Essays - 1000 words

Digital media - Research Paper Example Digital media in the sports and entertainment industry has enabled greater growth and innovation. This is, through enabling industry players, to implement a single foundation networks that serve their business and aids in its growth. It improves content protection via integration of data into an end-to-end system that aids in the reduction of piracy, which was a cause of huge pilferage, thus increasing revenue. Digital media ensures the delivery of virtually limitless, which has allowed sport to attract new audiences at a lower cost (Rayburn, 2012). Digital media also improves fan engagement, which is achieved by transforming the venue, whether for sport or entertainment. This will involve the delivery of live video and custom-made content to all monitors at the venue. The broadcast television industry will be a major beneficiary of digital media in the next five years, especially with the convergence revolution. Convergence is a trend via which various aspects of telecommunication, broadcasting, and computing are brought together into one digital bit-stream (Hutchins, 2012). Television revenues are bound to increase significantly, especially as most sport-oriented TV stations have their own integrated TV-mobile-computer system. For example, ESPN already has ESPN mobile, which offers to stream video, as well as other NFL content that could significantly enhance the NFL product. This will see subscriptions and advertising revenues increase, as will the number of channels as more quality content becomes available with the evolution in digital media content. 2. How do you see E-Commerce evolving in the next five years? Identify the trends in E-Commerce, Mobile Commerce and Social Commerce (Sales made directly through social networks or sales made from social media referrals) today and where you expect them to be in five years. Mobile commerce is growing faster than social commerce. E-commerce in 5 years will become a concept that is very inseparable from the inter net, especially as e-shopping becomes more natural and popular. Simultaneously, severe rivalry in e-commerce services is expected to intensify the development of e-commerce. Therefore, the future trends inherent in e-commerce are evolution and growth of internet sales (Laudon, 2010). As more people become held up by household and work duties, the internet will avail them with the opportunity of saving time and getting the best prices. Additionally, since the internet has removed the factor of geography from sales, the tendency of quantity to quality inherent in e-commerce will become more obvious. Therefore, to survive e-store-owners will have to employ opportunely modern technologies to achieve appealing presentation of goods, user friendliness, and attractive design in order to attract more e-customers. Firstly, current trend in mobile commerce involves location based mobile advertising that is used to drive in-store traffic whereby businesses use mobile advertising as a means of driving foot traffic. Secondly, it involves using SMS to build databases and send out messages to customers to inform them of sales and mobile exclusives. Thirdly, QR codes whereby retailers implant the codes into mail, magazines, and posters, which can be read using mobile devices and give information regarding the business (Agudo, 2009). A trend that is expected to escalate

Argues what Matthew Dickman's prescription for the good life is Essay

Argues what Matthew Dickman's prescription for the good life is. (please make a better topic) - Essay Example The poet’s style and expression match the daily lives of American people, so he appears a poet of the people who writes for the people and they can related with his experiences as his experiences are similar or somewhat grounded in American culture. This paper scrutinizes three of the above-mentioned poems in terms of poet’s prescription of good life. He elaborates about his reading experiences and his comprehension related to those readings. His toilet as a whole was constructed by a company named as American Standard and he relates his experiences of using the toilet with the formation of American standard. He wants people to enjoy themselves and involve in partying for their happiness and merriment, as being a part of American society, people are allowed to enjoy as they like. There are also some ill happenings in life, but as per the poet’s perspective, a person should ignore his losses and try to be happy by clubbing, doing sex and going to parties. He elaborates about his activities in the toilet and connects them to his happiness. He also wants to be as comfortable while being in toilet and is not ready to hurry up. At the end of the poem, when he recalls about his visit of Africa, he seems to mention the African Americans in America whom he regards to be kind and friendly people. His poem informs about the activiti es what American people usually do. He poem, American Standard not only appears as a narrative of his experience and his life, but also about the accommodation that America gives to foreigners such as African Americans who have migrated from Africa to settle in America. He says, Everything that goes into the American Standard becomes a part of it or melts into it such as African Americans have become a part of America and its pop culture. The poet mentions in the poem about partying and get together of people along with his sex with a women who is engaged to a man from