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For Targeting New Customers, What Are the Advantages and Disadvantages of Using These Social Networks Compared to Search Engine Advertising?

In: Business and Management

Submitted By Lexster05
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Pages 7
Module 4 Assignment 1: Discussion – Mission Statements
Lex Adams
Marketing Planning & Strategy

Think about an online social media network like Facebook or LinkedIn. For targeting new customers, what are the advantages and disadvantages of using these social networks compared to search engine advertising?
Provide specific examples of products that lend themselves more to social networks as compared to search engine advertising.

I am going to use the quote, “it takes a village” and put into the context on how social media sites such as Facebook and LinkedIn can influence a consumer’s values, decision making, and preference. For example, Facebook has morphed into a global, networking site where people with similar and different backgrounds and from all over the world can connect and share with others in real time. Connect… Facebook users can form or find social groups they wish to join based on commonality such as family and friends, work related, location related, religion and political related, and even product related. Share...Facebook users can share almost everything about themselves in particular their opinions. It is a gold mine for companies to collect data. One of the benefits of Facebook social groups is that they can be categorized as market segments for marketers to “connect” with. “Market segmentation divides a market into well-defined slices. A market segment consists of a group of customers who share a similar set of needs and wants. The marketer’s task is to identify the appropriate number and nature of market segments and decide which one(s) to target.” (Kotler and Keller, 2012, pg. 214)

“In behavioral segmentation, marketers divide buyers into groups on the basis of their knowledge of, attitude toward, use of, or response to a product.” (Kotler and Keller, 2012, pg. 227)

In a recent Nielsen report, statics show that more and…...

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