The Importance Of Social Capital In Marketing

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Social capital is a relatively modern theory, introduced by Pierre Bourdieu in 1985 (Glenane- Antoniadis et al. 2003) that can provide a useful additional framework, supplementing traditional concepts of marketing, improving the effectiveness of social media marketing. Its popularity has quickly grown over time and it has been applied in various disciplines, including economics, political science and organizational theory. Notwithstanding its popularity, especially with the rise of SNSs and social media, there is still no consensus in defining or operationalizing social capital (Ellison et al. 2007). As Adler & Kwon, (2002) pointed out, social capital can be applied in a number of different fields,
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Especially for the latter internet, social media and SNSs, can provide firms and marketers with an immense range of opportunities for extending and preserving relations they have with customers in the real world in online communities using various technologies and marketing tools cost efficiently and effectively. Therefore it is crucial to integrate online interactions with consumers in the marketing communication mix, as they actively influence offline interactions and consumer behavior…show more content…
Park et al. (2009) conducted a factor analysis in order to reveal the main motivations of individuals for participating in groups within Facebook and identified the following: socializing, entertainment, self status seeking, and information that are relevant with the formation of social capital within a network. Ellison et al (2007, 2010) has examined the relationship between the usage of Facebook, and the formation and maintenance of social capital in college students. Their results indicated that social information-seeking behaviors contribute to perceptions of social capital, highlighting the importance of the identity of the members of a group working as a “lubricant” facilitating information seeking and
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