Socialnomics- Transforming Marketing Tactics through Social Media

Abstract

The intensification of social media has radically transformed the entire scenario of communication mode and marketing is no exception in this perspective. Through the unsatisfactory practice of conventional advertisement customers rely more on their fellows rather than brands. In the present scenario of translucent consumer atmosphere, it is necessary for the producers to ensure that their product or seevice is popularised all the way with its claims to retain their customers focusing social networks. Thus, the alliance of the organizations and customers for value creation and shared via social medium is named as socialnomics. Against this backdrop, the present paper is an endeavour to explore the key aspects of socialnomis both from organizational as well as customer's perspective in the light of issues of concern and possible strategies.