social-mediaWhilst the full description and outline of "What is Social Media?", falls outside of this ambit of this article, it is dynamic enough to be constantly changing and evolving.

Social media as it is understood in terms of today's virtual markets,  refers to interaction among individual people and companies in which they create, share, and/or exchange information and ideas in virtual communities and networks. Andreas Kaplan and Michael Haenlein define "social media" as "a group of Internet-based applications that build on the ideological and technological foundations of Web 2.0, and that allow for the creation and exchange of user generated content."
Furthermore, social media has also come to include and depend on mobile and web-based technologies to create highly interactive platforms through which individuals and communities share, co-create, discuss, and modify user-generated content. They introduce substantial and pervasive changes to communication between organizations, communities, and individuals.

Social media differs from traditional and industrial media in many ways, including quality, reach, frequency, usability, immediacy, and permanence.

While traditional social media offer a variety of opportunities for companies in a wide range of business sectors, mobile social media makes use of the location- and time-sensitivity aspects of it in order to engage into marketing research, communication, sales promotions/discounts, and relationship development/loyalty programs.

Social media can take on a number of forms with only a few of them found below.

  • Facebook
  • Twitter
  • Linkedin
  • Youtube
  • Digg
  • Blog
  • Pinterest

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