web 2.0 marketing

Web 2.0 marketing
When you hear of the word marketing the first thing that comes to you mind is the marketing mix or the so called four P’s of marketing; pricing, product, placement and of course promotion. In the traditional marketing plans were designed to focus on those features of a product that would satisfy the customer needs and expectations in the most effective ways possible. However, today’s market is changing and managers as well as business owner need not only to understand web 2.0 marketing but also how to apply the right strategies for the same.
Basically, this illustrates today’s and the next generation aspects of business services delivery. The potential in it is unimaginable, for example the social networking sites have a population of close to 2 billion people. Unlike in the past, where these were associated with the teens and the young adults the internet and specifically so the social networking sites are gaining popularity across all age groups. The internet has a huge potential of taking your business to the next level. Through the use of the internet as a marketing tool, the pyramid-of-influence model is gaining significance. This is so, as it allows peer to peer communication. Research has shown that no other method can be more trusted than this. The information from ones peers is not only highly regarded but trusted as well. This is exactly what online marketing offers, by creating profiles and giving a chance to the customers to post comments and share information helps serve as a peer to peer way of advertising. Studies by Intelliseek and Forrester one of the renowned social marketing scholars shows that more 50% of the consumers are turning to their friends as well as the information their share online when forming opinions on different products. The social media synergized by the web 2.0 marketing is actually redefining and rewriting the rules of marketing.