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Marketing & Branding

 
Started by : Sunita Mohapatra, Product/Brand Manager, Tata Motors   08 17 2010 10:22:24 +0000
Industry : Advertising/PR/MR/EventsFunctional Area : Business Processes(Operations)
Activity:  55 views;  last activity : 11 30 2010 14:03:12 +0000

Social networks worldwide are estimated to bring in $3.3 billion in advertising dollars this year, according to updated estimates by eMarketer. That number represents a 31 percent increase from 2009′s $2.5 billion. A full 39 percent of that amount, or $1.3 billion, will go to Facebook.

So, why are social networking sites becoming the hot spots for ad spending?

 
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1 2 3 4 5
1 Cost Effective
2 Ad reach...
3 Better target group focusing
4 Easily accessible
5 Cost Effective and easily accessible
6 specifically segmented
7 Target Market
8 better target focusing and cost effective.

Cost Effective

idea posted by Sunita Mohapatra Product/Brand Manager, Tata Motors

Since most people are connected to eachother via the platform its easy &cost affective for advertisers to promote their produt on social media sites. Thus, the entire cost of the ad campaign comes down & most of the sales happen through word of mouth.

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by Anil kumar, MBA/PGDM student, fabs hyderabad (A.P)  | 08 31 2010 17:53:31 +0000

good sunita  i agree with you

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Thanks for the referral Ms. Sunita Mahapatra.

you are right, it is cost effective that enables to facilitate better reach to the target customers.

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by Anil kumar, MBA/PGDM student, fabs hyderabad (A.P)  | 08 28 2010 17:44:20 +0000

i agree with Sunita thought because most of the people who are trying to promote their products for generate the revenue & increase the sells of the companies. the social networking sites make then lucrative and attractive for companies to come and place their ads in it.

 

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Ad reach...

idea posted by Sheetal Jadhav Sales/BD Manager, Future Group

I agree to your thoughts Sunita..on the other hand the reach of social networking sites makes then lucrative & attractive for companies to come & place their ads in it. Since, the target customers are already under one banner it becomes to promote your products & generate revenue.

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by sryth , Test Engineer, Avance  | 11 30 2010 14:03:12 +0000

Most of the people visit facebook like social networking sites for friends profile, chat and accessing many applications. Most of the users login in to facebook account atleast once in a day. so it is faster to reach when any one posts ad in social networking site.

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Hello Sunita, You are right. Social network is advantages and it reaches to the person. Hence they may prefer to do it. 

K Rajagopalan.

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Better target group focusing

idea posted by Abhimanyu Mukherji Manager Information Systems Division, Bharti Walmart

Social Networks are perhaps the best way forward for digital media. For instance when watching a TV show, you get ads relative to that show, like sneaker ads for commercial breaks during a cricket match. Similar is the effect of having advertising through social community websites like facebook because they have different applications serving the needs of different users. These applications in turn tell a lot about a person's interests in that particular area. Add to this the fact that convergence is going to take a major high after 3G networks hit the cell phone market and social community websites are a major buzzword there too.

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Easily accessible

idea posted by Mohammad Bakhsh Project Leader/Managing Consultant, Freelancer

The people of all denomination are accessing internet and they are easy target for ad agencies to invite their attention.They can access there choices at  their lesser time.

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Cost Effective and easily accessible

idea posted by Mahmood Recruiting Manager and Employee relations, Zenmonics Inc
Its true cost effective and helps network
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Yes. It is economical.

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specifically segmented

idea posted by HEMANT VERMA Marketing and Branding, NAVNEET PUBLICATION INDIA LTD.
highly segmentation are done through such sites.
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Target Market

idea posted by Ted Green President, Bikini Computers

A target market or target audience is a group of customers that the business has decided to aim its marketing efforts and ultimately its merchandise. [1] A well-defined target market is the first element to a marketing strategy. The target market and the marketing mix variables of product, place (distribution), promotion and price are the two elements of a marketing mix strategy that determine the success of a product in the marketplace.


Once these distinct customers have been defined, a marketing mix strategy of product, distribution, promotion and price can be built by the business to satisfy the target market.

link

Personal note: when you use social networks to target your market, you hit your perspective client base. Also note that the client base has grown as well, so your audience is always be changing.

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better target focusing and cost effective.

idea posted by ramachandra.m.r Sales Head, hindalco

Product needs to be focussed on target customer and it has to deliver values to the customer.

By social networking we better target focusing and cost effective as network is based most  on platform of similar thoughts and  likings.

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