Social media marketing

More about the book

Social media marketing has transformed the market-consumer relationship, leading to both excitement and confusion among marketers. Without a solid framework to understand these changes, marketers often chase novelty with inconsistent results. This work introduces game theory as a theoretical foundation for social media marketing, emphasizing the adversarial yet interdependent nature of relationships. Originally conceived for nuclear strategy during the Cold War, game theory offers an evolutionary perspective on marketing. By exploring concepts such as the Prisoner’s Dilemma, Stag Hunt, Self-Command, and Job Market Signaling, the study reveals the cooperative dynamics that have shaped marketing today and suggests future directions. The contents include discussions on the origins of game theory, its relevance to new media, and the implications of zero-sum games in traditional marketing, addressing transparency issues, pricing strategies, and the benefits of randomization and A/B testing. The exploration of these themes aims to provide marketers with insights into navigating the complexities of social media and enhancing their strategies for better consumer engagement.