Global Journal of Commerce & Management Perspective
Open Access

ISSN: 2319-7285

+44 7480022681

Abstract

How Social Media Contributes to Multinational Marketing Strategies and Its Impact on Customer Relationship Management in the 21st Century

Ng Hoong Fong and Dr. Rashad Yazdanifard

Globalization and advanced technology developments have a very big impact on the marketing landscape and multinational marketing strategies. The Internet and the World Wide Web have become two key components in today's technology based organizations and businesses. The popularity of Internet starts to make a big impact on people's day-today life. As a result of this revolutionary transformation towards the modern technology, social networking on the World Wide Web has become an integral part of a large number of people's lives. Social networks are websites which allow users to communicate, share knowledge about similar interests, discuss favorite topics, review and rate products or services. These websites have become a powerful source in shaping public opinion on virtually every aspect of commerce. The advancement and popularity of social networks have had a tremendous impact on the way companies manage their marketing. Companies must be creative in order to target specific audiences and make a profit. Social network is a marketing channel that needs to be integrated with other traditional marketing channels, and considered as part of the marketing mix. Social network is not a replacement of traditional marketing tools but another tool that is able to reach the community which prefers electronic media. Globally, customers that are buying the items that they wanted via virtual media had increased drastically. Traditional customer relationship management is not sufficient for a company to interact with customers. Social media has definitely changed the way big companies communicate with their customers. This study explains how social media contributes to multinational marketing strategies. Besides that, this study will also describe about the impacts social media have on customer relationship management.

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