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Social Networking Sites and Marketing Strategies

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Abstract

This chapter begins with an introduction to social networking. The opportunities and challenges of social network sites regarding marketing strategies are discussed and these provide a foundation for exploring viral marketing with regard to the development of online word-of-mouth activities on social networking sites. This chapter explores strategies for successful viral marketing and investigates strategic perspectives of social networking. We look into several types of social networking sites available for consumers to share and access information and experience such as Facebook and Twitter in the context of marketing strategy decision-making. The chapter concludes with an examination of the online marketing mix regarding social network marketing strategy development and a case study (Fiesta Movement Campaign) and methodology is also included to ‘bridge the gap' between the academic theory in this chapter and an example showing how marketers in the industry have taken advantage of social networking sites to promote their business.