Impact of Social Media on Promotional Cost

Abstract

With the initiation of social media in the recent years, the conventional and classical forms of media came acrosskey challenges. As a result print and broadcast media have faced reduction in audience. In today’s world the marketers have also changed their trend and shown a shift towards social media for promotion of their products or services. This has in turn affected the promotional costs of the company. The purpose of this research work is to analyse the effect on promotional costs of a business due to extensive marketing and branding activities through social media. This research is self- xplanatoryin nature and data collected is quantitative. Considering the recent trend and shift in paradigm from traditional methods of promotion and marketing to promotions done thorough social media, I formulated a model that how social media is used to nfluence promotional costs along with branding and marketing. The research shows that businesses have not fully incorporated social media for promotion, marketing and branding them; they still depend on conventional Medias for this purpose, due to the reach and coverage of social media in less developed countries.