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The Social Media Revolution. Strategies and Attitudes towards the Rise of an Enabling Technology

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  • Elena Casprini

    ()
    (Istituto di Management - Scuola Superiore Sant’Anna, Pisa)

  • Alberto Di Minin

    ()
    (Istituto di Management - Scuola Superiore Sant’Anna, Pisa)

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    Abstract

    This paper investigates how companies are facing the social media revolution en course. Web 2.0 technology has forced firms to reconsider their business models and strategies. As well as it happened in the first digital revolution led by Web 1.0 technology, the advent of the second digital revolution led by Web 2.0 has created new opportunities and threats that firms need to cope with. Internet has had an impact on both business models and firms’ practices, since it has created a new market space, changed the role of the customers and modified marketing strategies. Based on both theory as well as empirical cases, the study shows that strong similarities exists between the two digital revolutions. Old economic and managerial models are still valid while companies can either take a passive approach or they can try to adapt, but only outliers are leading the transformations and are redefining business models and practices in their industries.

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    File URL: http://idm.sssup.it/wp/201302.pdf
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    Bibliographic Info

    Paper provided by Scuola Superiore Sant'Anna of Pisa, Istituto di Management in its series Working Papers with number 201302.

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    Date of creation: 01 Feb 2013
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    Handle: RePEc:sse:wpaper:201302

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    Keywords: Social media; Web 2.0; business model; strategy;

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    1. Fuller, Johann & Jawecki, Gregor & Muhlbacher, Hans, 2007. "Innovation creation by online basketball communities," Journal of Business Research, Elsevier, Elsevier, vol. 60(1), pages 60-71, January.
    2. Mangold, W. Glynn & Faulds, David J., 2009. "Social media: The new hybrid element of the promotion mix," Business Horizons, Elsevier, Elsevier, vol. 52(4), pages 357-365, July.
    3. Berthon, Pierre R. & Pitt, Leyland F. & Plangger, Kirk & Shapiro, Daniel, 2012. "Marketing meets Web 2.0, social media, and creative consumers: Implications for international marketing strategy," Business Horizons, Elsevier, Elsevier, vol. 55(3), pages 261-271.
    4. Kaplan, Andreas M. & Haenlein, Michael, 2010. "Users of the world, unite! The challenges and opportunities of Social Media," Business Horizons, Elsevier, Elsevier, vol. 53(1), pages 59-68, January.
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