Social media for business communication Essay Example | Topics and Well Written Essays - 1750 words

Social media for business communication - Essay Example This year the amount generated on the single day is $816 million becoming the heaviest online sales volume received in a single day (Diers, 2012, p. 23). The overall U.S. retail e-commerce spending for the month has increased by 15 percent. There is greater access to online shopping on Cyber Monday. This is a marketing term developed in 2005 by online retailers that define the increase of online shopping activities on Monday. Approximately 50 million Americans visited online retail sites on a black Friday representing a 35 percent increase from the previous year. The number of customers accessing the top five retail sites namely: Amazon, Walmart, BestBuy, Target, and Apple increased by double digits. This result shows that multichannel retailers recorded strong growth in visitors’ access. The increased use of online retailing has greater marketing implications to marketing principles. The need for change in the marketing strategy to absorb the increasing online visitors is ess ential for any firm because it leads to greater sales volume. The success for any company lately is based on the focus on the customer and commitment to market change. Globalization affects marketing in a drastic way by affecting marketing. Use of World Wide Web in marketing and online shopping is the next revolution. The data obtained for visitors to the online sites depict the success attainable by venturing in it. Consequently, the need for strategizing and formulating of online strategy in ensuring increase in sales volume is essential. Product innovation is powered by the consumers. Therefore, marketing of the products must ensure correct feedback is obtained from consumers to facilitate understanding of new product development. Driven by the need of simplicity, consumers need must be catered for. For instance, online shopping is a product