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


    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.

    We have no references for this item. You can help adding them by using 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.