Marketing meets Web 2.0, social media, and creative consumers: Implications for international marketing strategy
The 21st century has brought both opportunities and challenges in our global, boundaryless world. Importantly, managers face a dynamic and interconnected international environment. As such, 21st century managers need to consider the many opportunities and threats that Web 2.0, social media, and creative consumers present and the resulting respective shifts in loci of activity, power, and value. To help managers understand this new dispensation, we propose five axioms: (1) social media are always a function of the technology, culture, and government of a particular country or context; (2) local events rarely remain local; (3) global events are likely to be (re)interpreted locally; (4) creative consumers’ actions and creations are also dependent on technology, culture, and government; and (5) technology is historically dependent. At the heart of these axioms is the managerial recommendation to continually stay up to date on technology, customers, and social media. To implement this managerial recommendation, marketers must truly engage customers, embrace technology, limit the power of bureaucracy, train and invest in their employees, and inform senior management about the opportunities of social media.
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- Kaplan, Andreas M. & Haenlein, Michael, 2010. "Users of the world, unite! The challenges and opportunities of Social Media," Business Horizons, Elsevier, vol. 53(1), pages 59-68, January.
- Berthon, Pierre R. & Pitt, Leyland F. & McCarthy, Ian & Kates, Steven M., 2007. "When customers get clever: Managerial approaches to dealing with creative consumers," Business Horizons, Elsevier, vol. 50(1), pages 39-47.
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- Hanna, Richard & Rohm, Andrew & Crittenden, Victoria L., 2011. "We're all connected: The power of the social media ecosystem," Business Horizons, Elsevier, vol. 54(3), pages 265-273, May.
- Kietzmann, Jan H. & Hermkens, Kristopher & McCarthy, Ian P. & Silvestre, Bruno S., 2011. "Social media? Get serious! Understanding the functional building blocks of social media," Business Horizons, Elsevier, vol. 54(3), pages 241-251, May.
- Muñiz Jr., Albert M. & Schau, Hope Jensen, 2011. "How to inspire value-laden collaborative consumer-generated content," Business Horizons, Elsevier, vol. 54(3), pages 209-217, May.
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