What are the advantages and disadvantages of using social media for market research
Social media has become an inevitable tool for market research in this tech savy world.In every aspect there are many advantages and disadvantages that prevail.The advantages of social media are as follows;
1.Social media be it any kind has innumerable number of people using .So the reach is extremely high. Market research can be done with many people and the data will be extremely useful.
2.There are various options of media platforms in social media.By using a simple technique or by tracking repeated viewers the latest trends can be witnessed in market.
3.Time consumed in social media for market research is the least when compared to other traditional forms.
4.Social media is very much cost effective as there are many free tools available to make the survey.
5.Social media market research is another form of advertisement for their own brand products.
The disadvantages of social media for market research are as follows.
1.Information gathered from mass at times cannot be considered as genuine.sometimes people do the survey just for passing the time.
2.Additional resources will be needed to conduct market research apart from basic tools.
3.Information or research result cannot be considered as the final result. Many other aspects has to be put into consideration.
4.If the social media loses its fame slowly the result also becomes negative.
5.Continuous updation is needed in social media market research.it must be continuously updated.