Stage 1

ThePreliminar

yRound

Team Name:INGENY

Name of first member: Debasish ChatterjeeCollege Name: Institute of Management Technology

Name of second member: Ishika RayCollege Name: Institute of Management Technology

Hey Debasish, Now a days I hear a lot of

buzz regarding social media.. But what is this social media?

Hi Ishika… See in simple

terms, it is a medium of

virtual communication

between two or more

persons.

It involves creation, sharing or exchange of

information and ideas using the

web service

In fact now a days, social

media has such a mass appeal

that it has become a major

mode of marketing as

well!

Wow!! That sounds cool!!! Please tell me

more about the various platforms of

Social Media

Well it seems like you are

interested!!! There are various

platforms of social media

Major Platforms include Online

forums and communities like

chat, instant messaging and

discussion forums.

Like Idea Centre at

Kodak Gallery???

Great!!! They are a valuable resource for

companies to collect data and provide

key information.

Then there are Social Networking sites like

Facebook and Twitter. They help to create

interest for products through side-bar

advertising.

Also different networks have different benefits.

Example: MySpace concentrates on entertainment,

LinkedIn on career.

I think Blogs and Micro blogs should also be under social

media…

Yes, they are the best platform to promote word of

mouth marketing.

That means, social media covers a vast

number of people and affects a large number

of lives

Even Media Sharing platforms like YouTube and Social News sites

like Digg and Reddit also come

under social media

Ok, But even television and media advertising

reaches to a vast number of people.. And it appeals to people of all age? Then

why social media for advertising?

Good Question! See, nowadays company

keep customers at the top of the ladder.

Social Media helps to interact directly with the customers at a

nominal cost.

The customers provide valuable feedback , as

per which the company can modify

their products and win customer loyalty. This

is called crowd sourcing.

Plus, social media helps

creating a buzz before a new

product launch. Remember the

Kolaveri di video? This is

called viral marketing

Plus, India ranks fourth globally in terms of internet

users and 7th as far the use of social

media in concerned.

That provides a huge potential for social

media marketing. Also companies can

overcome geographic barriers through social

media.

I understand!! Often consumers are influenced

by opinion leaders and second hand information. When a celebrity praises a

book, it becomes a bestseller. Perfect way of

influencer marketing!

This probably is the only thing that cant have any

flaws, whatsoever, isn’t it?

Hahaha!!! Not really. Like every good thing social media too has its own drawbacks

Social Media gives rise to identity theft. A lot of

information and idea is communicated through social media these days and these information

may get hacked

Confidential data may get leaked. Also it is

very difficult to predict if right advertisement

reaches the right person at the right

time

That is disappointing

Don’t get disheartened,

everyday hundreds of techie are coming up with new anti-theft

tools like MCPR from McAfee and First Alert

Social media-savvy organizations are

very optimistic about the role of social

media in their organizations.

WOW!!!! That sounds great, I think I should start selling my songs through

social media now!!!! Thank you Debasish!!!!

You are welcome Ishika!!! Hope you get a lot of likes !!!

Crippp Cripp……

Reference

• http://www.ey.com/IN/en/services/advisory/social-media-marketing-india-trends-study-2013

• Marketing Management by Philip Kotler• E-Marketing by Strauss and Frost