Social media as a branding tool and its effect among generation Y

Abstract

Social media is hailed as one of the greatest inventions of our times. It has revolutionized the way the world communicates and has become an integral part of our lives. It is always evolving, with new features being created as time goes by so as to cater to the user's emerging needs. Social Media is no longer a tool used only for personal use but has become as essential part of today's working world , specifically marketing. The main aim of this thesis is to discover the ways in which companies are exploiting this trend to market their name, products and services. It also analyses how the generation that has grown up with internet by its side, interacts with brands through the social media and how their exposure to this tool effects their final purchase decision It was seen that businesses are making use of social media to get to know their customers and to develop a two way conversation with them. It was also found that Generation Y relies heavily on social media when communicating with a brand and that ultimately a positive digital experience will result in the user considering the brand next time it carries out a purchase in the same field. Ultimately this creates diverse opportunities for brands and signifies a great change in the traditional way that marketing/branding is normally carried out. Companies must adapt to this change and recognize the immense power of this tool and impact Generation Y has on the generations before it.