EFFECT OF SOCIAL MEDIA MARKETING IN BUSINESS

Abstract

In the past decades, the world economy has changed dramatically under the pressure of globalization, the tremendous development of technology and the opening of new markets. The development of technology, especially information technology, has cleared away all barriers of space and geography. Customers now have more rights than before. Thanks to technology they can access information about the products better so that they have many more choices. Besides the fierce competition, enterprises have to face increasing demand, further complicated by consumers. In order to operate a company effectively, businesses need better-understanding customer needs, they need better communication about the value of products, services, and solutions that they offer to customers. Enterprises need to build a long term relationship between the brand and the customer groups targeted. With this awareness, marketing is increasingly becoming an important function in the business of developing countries.