IDEAS home Printed from
   My bibliography  Save this article

The role of social media in enhancing the modern market relations


  • Augustin IGNATOV

    () (Head of Research and Promotion Section, Centre for Studies in European Integration, Academy of Economic Studies of Moldova (ASEM), 59 Banulescu-Bodoni Street, Building B, office 702, Chisinau, Republic of Moldova)


The Social media environment represents one of the most prospective domains of developing marketing campaigns. This fact is a result of the fundamental characteristics of social media networks which could be summarised by the following: low cost of developing an advertising campaign and a wide audience which it can be addressed to. The present research has found that social media marketing can provide immense opportunities in reaching target audiences. Social networks lead to the shrinking world phenomenon which is catalysed by the digital revolution. Moreover, the research has determined that social media changed the way people consume, thus clients are equally interested in the product itself as well as in the story standing behind this product. Communities created within social media platforms represent an important driver of local development. Social media acts as an intermediator between clients and firms increasing the quality of modern market relations since it provides the opportunity to maintain permanent feedback with all market participants. The general conclusion reached summarises the idea that business – consumer relations have been intensified due to the development of social media networks. The strategic partner relationship must be based on: "complementing" the economic structure of the partners, which means equality in the relationship and lack of significant disparities.

Suggested Citation

  • Augustin IGNATOV, 2019. "The role of social media in enhancing the modern market relations," CES Working Papers, Centre for European Studies, Alexandru Ioan Cuza University, vol. 11(1), pages 35-54, April.
  • Handle: RePEc:jes:wpaper:y:2019:v:11:i:1:p:35-54

    Download full text from publisher

    File URL:
    Download Restriction: no

    References listed on IDEAS

    1. 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, vol. 55(3), pages 261-271.
    2. Robinson, Douglas K.R. & Huang, Lu & Guo, Ying & Porter, Alan L., 2013. "Forecasting Innovation Pathways (FIP) for new and emerging science and technologies," Technological Forecasting and Social Change, Elsevier, vol. 80(2), pages 267-285.
    3. Sinan Aral & Chrysanthos Dellarocas & David Godes, 2013. "Introduction to the Special Issue ---Social Media and Business Transformation: A Framework for Research," Information Systems Research, INFORMS, vol. 24(1), pages 3-13, March.
    4. Youngjin Yoo & Richard J. Boland & Kalle Lyytinen & Ann Majchrzak, 2012. "Organizing for Innovation in the Digitized World," Organization Science, INFORMS, vol. 23(5), pages 1398-1408, October.
    5. Seraj, Mina, 2012. "We Create, We Connect, We Respect, Therefore We Are: Intellectual, Social, and Cultural Value in Online Communities," Journal of Interactive Marketing, Elsevier, vol. 26(4), pages 209-222.
    6. Erevelles, Sunil & Fukawa, Nobuyuki & Swayne, Linda, 2016. "Big Data consumer analytics and the transformation of marketing," Journal of Business Research, Elsevier, vol. 69(2), pages 897-904.
    7. D.K. Robinson & Lu Huang & Ying Guo & Alan L. Porter, 2013. "Forecasting Innovation Pathways (FIP) for new and emerging science and technologies," Post-Print hal-01071140, HAL.
    8. Paulo Albuquerque & Polykarpos Pavlidis & Udi Chatow & Kay-Yut Chen & Zainab Jamal, 2012. "Evaluating Promotional Activities in an Online Two-Sided Market of User-Generated Content," Marketing Science, INFORMS, vol. 31(3), pages 406-432, May.
    9. Aarikka-Stenroos, Leena & Sandberg, Birgitta, 2012. "From new-product development to commercialization through networks," Journal of Business Research, Elsevier, vol. 65(2), pages 198-206.
    10. Labrecque, Lauren I. & vor dem Esche, Jonas & Mathwick, Charla & Novak, Thomas P. & Hofacker, Charles F., 2013. "Consumer Power: Evolution in the Digital Age," Journal of Interactive Marketing, Elsevier, vol. 27(4), pages 257-269.
    11. Douglas K. R. Robinson & Lu Huang & Yan Guo & Alan L. Porter, 2013. "Forecasting Innovation Pathways (FIP) for new and emerging science and technologies," Post-Print hal-01070417, HAL.
    12. David J. Teece, 2012. "Dynamic Capabilities: Routines versus Entrepreneurial Action," Journal of Management Studies, Wiley Blackwell, vol. 49(8), pages 1395-1401, December.
    13. Laura Michelini & Daniela Fiorentino, 2012. "New business models for creating shared value," Social Responsibility Journal, Emerald Group Publishing, vol. 8(4), pages 561-577, September.
    Full references (including those not matched with items on IDEAS)


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:jes:wpaper:y:2019:v:11:i:1:p:35-54. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Alupului Ciprian). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.