Impact Of Social Media On Samsung Literature review

Impact Of Social Media On Samsung - Literature review Example This study will try to uncover the impact of social media on Samsung. In other words, the study will try to reveal how Samsung gets benefitted from social media. Now before getting into deeper a brief overview of Samsung is presented below. Samsung has its roots back to 70 years when the company was founded by Lee Byung-chill in the Daegu city in the year 1938 (Samsung, n.d.). It started as a small trading company with only forty employees, but with the passage, the company went on to become one of the largest companies in the world. Presently the company is involved in manufacturing and selling consumer electronic goods. The product portfolio of the company include mobiles, laptops, television, air condition, home theatre, microwave oven, camera, refrigerator, and washing machine among numerous others (Yahoo Finance, 2012). The company also has a substantial amount of presence in the social world, which allows them to remain connected with the customers 24*7. According to Qualman (2010), social media on a global platform and enables the world to remain connected. From the business perspective, social media has actually changed the way business has been done. The author also stated that social media helps a company to save its promotional time, stress and cost thereby making it more productive. Along the same line, Sterne (2010) stated that social media is a profit booster, as it lowers the cost drastically. This allows the companies to sell their products at a lower price and can offer value to the customers. Hence, indirectly it helps to satisfy the customers of the company. Noor Al-Deen and Hendricks (2011) in their study found that social media such as Myspace, Facebook, Twitter, Orkut and YouTube among others are growing at an incredible rate. Moreover, the adoption rate of the companies is also high.