Social Media and Marketing mix Assignment Example | Topics and Well Written Essays - 2000 words

Social Media and Marketing mix - Assignment Example Some argue that social media marketing is a replica of the word of mouth marketing since people like the contents and share the information with friends thus increasing visits to the social network site. The change brought about by social media in marketing has seen the success of companies like Netflix whose presence is not only felt in the UK but also worldwide. For business entities to consider social media as an effective marketing tool, they must understand what the concept entails. Gordon (2014) suggests that the definition of social media is never complete without reference to Web 2.0 that has been defined as the new way through which people use the World Wide Web as place that continually alters contents to allow sharing in a collaborative way. The Web 2.0 came about or evolved from simple tasks of retrieving information to more complex functions like interoperability, interactivity, and collaboration. By definition, social media a collective term for internet based applications whose basis come from technological and ideological foundations of the Web 2.0 to allow creation as well as exchange user content (Brennan, & Croft, 2012). According to Brennan, & Croft (2012) social media are basically software tools that make it possible to create user specific content which they can share. For a website to meet specifications of a social network, it must have content, user profiles, method for connecting users and posting comments and also provisions for joining virtual groups of common interests like politics, fashion, or religion (Gordon, 2014). Also, there is always confusion between the terms social media and social media networks though the latter allows users to unite through generation of personal or private information profiles where the users can invite their friends to access the profiles (Sashi, 2012). Therefore, a more discreet definition of social media is that; social media is an environment where social networking occurs and

Effects of National Culture on the Marketing Strategies Dissertation

Effects of National Culture on the Marketing Strategies - Dissertation Example The paper tells that international business theory begins with trade. Daniels and Radebaugh identified and compared ten types of trading theories. The theories are mercantilism, neomercantilism, absolute advantage, country size, comparative advantage, factor-proportions, product lifecycle, country similarity, dependence, and strategic trade policy. In the factors-proportions theory, there are four defined factors related to each home country. The factors are land, labor, capital, and entrepreneurship. The land is the natural resources associated with the physical boundaries of the country that are used to produce things. Countries without a strong and sufficient land base are forced to engage in international trade in order to obtain needed resources. Labor is the availability of unskilled and semiskilled workers within the country that can be mobilized for production purposes. Capital is the money, machinery, and infrastructure a country possesses. Countries abundant in these areas are considered more developed countries. Entrepreneurship is the creative management and ideas people use to solve problems and find new opportunities. The four factors explain the inherent resources a country possesses that make it attractive for trade, and therefore, international business. The theory is that "differences in a country's proportionate holdings of factors of production explain differences in the costs of the factors and that export advantages lie in the production of goods that use the most abundant factors."