The Impact of Social Media on New Product Sales, and Customer Acquisition and Retention for Established Products

摘要

While the impact of social media and its interaction with traditional media is an oft researched topic in recent times, the impact of this media on different marketing outcomes over the life cycle of a product has been under studied. On the other hand, several studies demonstrate that traditional media advertising has varying effectiveness for new and established products. Thus, the purpose of this research is to address the following questions: (1) what is the effect of social media relative to that of traditional media on new product sales?, (2) for established products, how does the impact of social and traditional media differ for customer acquisition and customer retention?, and (3) does the interaction effect between social and traditional media differ in different product contexts?