Business Foundations, Assignment #2
Marketing and Social Media/ Financial Management

Part One
1. One of the key roles of social media from a marketing management perspective, is to introduce their products and brands to customers (brand awareness), as well as getting customers involved on a long- term basis with their products (brand engagement).
Social media marketing is different from traditional marketing because it allows companies to assess the effectiveness of their promotion efforts (return on investment) by considering consumers motivation to use social media, and then measuring the investments customers make engaging with the company/ product.
Loyalty programs and rewards are also marketed in a different way using social media. Marketers are able to use apps and web- based platforms in order to allow customers to earn loyalty rewards, and share their consumer habits with others, which encourages brand loyalty and brand recognition.

2. The main objectives of promotion are to make consumers aware of products, inform them about products, make them like the products, and make them purchase the products. Companies are able to use social media to rapidly market their products and services to consumers. They are able to advertise to a large amount of people, in a short amount of time. Social media marketing also allows companies to focus their marketing on specific groups or demographics by using the consumers selfidentified interests in order to market products that are more likely to appeal to them. Consumers are spending an increasing amount of time on smartphones, computers, and tablets, and social media marketing reflects the current social and