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toy industry
Social media has changed the face of our personal interactions, with a new rate of adoption that outpaces previous innovative products. The modern tools allow people to share information, criticize, collaborate, discuss the common interests, and build relationships. With such a new trend, modern businesses are trying to explore how social media can help them grow and improve profits, not just with the regular practices such as outbound marketing, but towards enhancing business interactions as part of the innovation and new product development process.

An increasing number of companies are trying to make sense of the world of social computing technologies and aligning their innovation and strategic product development priorities with social initiatives. Predominantly an online presence is established between organization and consumer for a better and constant engagement. By using various social networks, companies are able to reach out to consumers in a non-abrasive and easy accessible fashion while building a user base. When consumers feel as they are considered as a part of a community, they are more inclined to participate, represent, evangelize, or give back to an organization.

When Samsung or Apple launches new products, an increasing importance is given to social media to compliment the traditional marketing and PR activities. In doing so, these brands see success in extending and enhancing its campaigns in a way that builds upon existing fan acquisition and engagement on networks such as LinkedIn, Facebook, Twitter, and YouTube, enabling it to interact frequently with customers and introduce product and campaign concepts in a way previously unavailable.

Creation of ahead of launch ‘buzz’ that ensures that new product launch has a good platform from which to develop. With a notable number of Facebook or Twitter fans also being early adopters of new products. Effective Utilization of customer and fan feedback delivers such brands with the perfect
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