The Impact of Social Network Technology on Business

In a time where technology prevails, entrepreneurs as well as marketers see the need to keep up with the fast pace of change or risk being out dated in their respective markets. The days are gone when a pure-bricks business model would thrive well in current market scenario. It is practically impossible to design a marketing strategy without considering social networks. Social network technology had become really important gradient in today-s marketing mix in general and in promotion mix in particular. Adapting some form of marketing online through social network technology is a key node for all businesses, especially in an industry where trends constantly change such as fashion and handicrafts. This paper views the description of social network technology and how it can be used in business and consulting firms. With try to understand the workings behind social network marketing, decide whether it is profitable for businesses to assist their products and services via the social network platforms and determine the usefulness and risks of social network in business.