Exhibit 18.1 Social media has rapidly grown to become the most
pervasive activity on the net.
Ordinary people empowered with
social media (Exhibit 18.1) are interacting and collaborating with
increased speed, reach and effectiveness. This has had a profound impact on
society, changing the political, economic and cultural landscapes across the
globe.
This chapter explores a host of new
concepts and developments such as social listening, formation of “social cloisters”, spread of
misinformation and fake news, co-creation, permission marketing, the long tail, and inbound and outbound
marketing. It examines trends in media consumption, interactive television, and outlines some basic
issues about the world wide web.
The chapter also imparts an understanding of the impact of the
new media on the social, political and market landscapes. It highlights key lessons for marketers
and outlines the new rules and perspectives, leaving readers with an appreciation of how the
marketer’s mind-set must change to succeed in the social age.
