International Journal of Research in Business, Economics and Management

Management Strategy and Social Networks

Prince Chineme Nsirim

Department of Management, Ignatius Ajuru University of Education, Faculty of Management Science, Rumuolumeni, Rivers state, Nigeria.

Tamunowariye, Chinonso (Ph.D)
Department of Economics, Ignatius Ajuru University of Education, Faculty of Social Sciences, Rumuolumeni, Rivers state, Nigeria.

ABSTRACT

Social network plays a vital role in the lives of people and so many people are represented in social networks. Social network provides the ideal platform for companies so that they can relate with their current and would-be customers. This study examines how companies can use social media marketing to build and maintain relationships with customers. Social media has entered into business organization and just like the internet; it has entirely changed the buying and selling processes. Social media has proven to be very effectiveness even more than the traditional marketing in spite the fact it is a recent phenomenon. Moreover, social media has been a source through which some organizations create awareness about the existence of their products and services. The social media has become a platform through which some organizations interface with their customers both far and near. As good as the social media is for organizations it has some diseconomies. This paper examines the challenges and benefits of social media as a management strategy. The study recommends amongst others that the social media platform should be used by managers in encouraging employees and not just the marketing department to participate in social media marketing which in turn will cover more ground. Also, organizations should engage consumers in friendly competitions hosted on their social media pages and also take part in self-promotion by uploading photos of events i.e., charity events Electronic Word Of Mouth is a wider horizon than word of mouth, a comment whether negative or positive placed on the internet is seen by everyone even potential customers.

Keywords: Social networks; Organizations; Marketing managements; Strategic tools.

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