Rapid developments in technology have been realized in the 21st century. This has been of great importance in the sense that it has significantly transformed the manner in which people conduct various activities.
Nearly all sectors of the human society including transport, health, business, industry, communication and education among others have been influenced. Of great importance is the impact of technology in communication as well as the business sector.
As observed in recent days, technological developments in communication through the discovery of internet and social media have been of great importance to the business world. This is so because these platforms of communication have facilitated business activities and more specifically the issue of marketing.
The integration of Social media with the 4Ps of marketing mix as well as STP has been identified as an important aspect. As observed in the study by Solomon, efficient incorporation of 4Ps with social media helps in success of marketing process.
Many nations are presently endowed with modern technology which thus being in a position to efficiently under take communication. Social media like face book, twitter, my face and you tube have been of great importance in the sense that they offer an efficient platform for business marketing. Nevertheless, social media has also been identified as a threat to successful business operations if not carefully monitored.
For business to adequately adopt social media in their marketing there is every need to be tactical and establish efficient strategies. This includes the Use of Segmentation, Target, and positioning (STP) as well as the market mix (4P).
As study by Solomon et al (2009, p. 76), demonstrated that the adoption of STP is inevitable for the success of every business. In this case Solomon et al (2009, p 76) indicates that no business can perfectly compete in recent markets without adequate understanding on the issues of market Segmentation, Target market, and positioning.
In the case of segmentation, the business is bound to effectively identify the segments of the service or product it is dealing with. This will help the business in finding attractive markets for its products. On the other hand, target market refers to the actual goal or focus of the business (Malhotra, 2011, p. 45). By understanding the target market, a business will be able to attain success and competitiveness in capturing the targeted group.
Positioning entails the perceived image of the product, business, or service. In this case positioning is basically a perceptual strategy, which aims at changing the perceptions of the people concerning the business (Capon and Hulbert, 2007, p. 98). This is a vital element for success of any business.
Solomon et al (2009, p. 76) defined argued that business organizations should be efficient in incorporating social media with the marketing Mix. In this case, the issue of 4ps should be considered. I particular, Solomon et al (2009, p. 76) argued that the place and promotion aspects of marketing mix should be prioritized.
Solomon et al (2009, p. 76) define the place as the location or site where the products or services will be accessed by customers. On the other hand, the concept of promotion ‘P’ is the means of making the product known to the customers. Based on this aspect, there is every need for integration of the aspects with social media.
A business should take into consideration the 4Ps which entail the product, place, price and promotion (Solom et al, 2009, p. 82). By taking consideration of all these aspects, success in marketing will be attained. For the case of the product, the business should adequately design the product to meet the needs of the customers (Ries and Trout, 2005, p. 82).
The price and place of the products should also be convenient to the target market so as to ensure efficiency in the marketing process. The final and most essential aspect is the concept of promotion (Armstrong et al, 2009, p. 78). This entails the creation of awareness of the product or service to the target market.
Based on the rapid development of social media, business organizations are placed with numerous opportunities. As outlined by Comm (2010, p.84) social media like twitter and face book offer a technical platform for business to execute their marketing operations. Social media has provided an admirable communication platform, where business can conveniently interact with customers.
The issue of customer relationships management has been attained as a result of social media (Pride and Ferrell 2009: 49). This is so because an open communication forum is established whereby the business and customers express their opinions concerning the products, services or prices (Kerin et al, 2010, p. 107). This platform puts the business in a good position to align its operations to meet the customers’ needs.
Social media is a potential sales enabler, whereby retailers are able to drive sales. Social media offer the platform where retailers can market their products and services. By placing ads in social media, retailers are able to create awareness on their products thus boosting sales.
Based on the high number of people using social media, the business organization are able to meet a wide population of potential customers. This has been of great importance in boosting sales (Gillin and Schwartzman, 2011, p. 91).
On the contrary, social media may be a cause of failure to business organizations which rely on them. A study by Kabani and Brogan (2010: 104) indicated that social media may enhance propagation of negative perceptions concerning the business. It has been noted that social media like twitter and face book are not regulated.
This offers a great threat to business organization in the sense that misleading and un-scrutinized information may be disseminated (Chaney, 2009, p. 52). Since customers are offered a chance to give their opinions, this may be a threat in the sense that negative perceptions may be spread across the market thus ruining the image of the business.
Leading retailers in the UAE like Bin Hendi Enterprises which deals with selling top garments coffee, leather goods and furniture has been in the forefront in the use of social media.
Salam Studio & Store LLC, Emax Electronics and Al Sharief Group of Companies as well as Liwa Trading Enterprises LLC have been in the forefront in adopting social media like face book and twitter in their marketing. This platform has offered them a lucrative opportunity to popularize their operations thus adding to their overall sales (Parker, 2010.p. 61).
Conclusion
In summation, it has been observed that social media should be embraced in the business sector. This is in relation to the potential platform it offers to business organizations using it. Social media is a sale enabler and businesses should be in the forefront in embracing it.
On the contrary, the unregulated nature of social media may be a threat in the aspects of propagating bad perceptions. A point worth of consideration is that businesses should seek to integrate STP and 4Ps with social media so as to enhance their success in marketing.
Reference List
Armstrong, G. et al., 2009. Marketing: An Introduction. New York: Prentice Hall.
Capon, N. and Hulbert, J., 2007. Managing Marketing in the Twenty-First Century. New York: McGraw Hill.
Chaney, P., 2009. The Digital Handshake: Seven Proven Strategies to Grow Your Business Using Social Media. London: Wiley & Sons Press.
Comm, J., 2010. Twitter Power 2.0: How to Dominate Your Market One Tweet at a Time. London: Routldge.
Egan, J., 2007. Marketing Communication. New York: Wiley & Sons Press.
Gillin, P., 2008. Secrets of Social Media Marketing: How to Use Online Conversations and Customer Communities to Turbo-Change your Business. New York: McGraw Hill.
Gillin, P. and Schwartzman, E., 2011. Social Marketing to the Business Customer: Listen to your B2B Market, Generate Major Account Leads, and Build Client Relationships. New York: Prentice Hall.
Kabani, S. and Brogan, C., 2010. The Zen of Social Media Marketing: An Easier Way to Build Credibility, Generate Buzz, and Increase Revenue. New York: McGraw Hill.
Kerin, R. et al., 2010. Marketing: The Core. New York: Prentice Hall.
Malhotra, N., 2011. Review of Marketing Research: Special Issue-Marketing Legends. London: Routldge.
Mercer, D., 2001. Marketing. London: Wiley & Sons Press.
Parker, C., 2010. 301 Ways to Use Social Media to Boost Your Marketing. New York: Wiley & Sons Press.
Pride, W. and Ferrell, O., 2009. Marketing. London: Routledge.
Ries, A. and Trout, J., 2005. Marketing Warfare. London: McGraw Hill.
Solomon, M. et al., 2009. Marketing: Real People, Real Decisions. 1st European Edition. New York: Pearson Education Ltd.