Abstract
<span>The world of marketing communication has been transformed completely by the presence of the internet and internet-enabled platforms. Today, the internet and related platform are home to massive amounts of human dialogues. Human interaction has changed drastically because of the presence of a wide variety of web-based platforms and the proliferation of media. Social Media- a Web 2.0 enabled platform has become an integral part of human life. Also, businesses have started actively participating in these platforms as they have found their users spending a substantial amount of time on these platforms. Thus, social media has become a part of digital marketing which involves the use of a wide variety of digital technologies and digital media to connect to the audience. The RACE i.e. the Reach Act Convert Engage digital marketing framework is a popular infographic, introduced to aid marketers to plan and manage the digital marketing related activities in a more organized manner. The present study aims at exploring the usage of social media at the launch or the commercialization phase of new product development. To fulfill this objective the study uses the RACE digital Planning framework. The study also aims at highlighting the most popular alternatives of social media in each category of the RACE Planning framework in the launch phase of NPD.</span>
Highlights
The Internet has metamorphosed the entire world of marketing communication
The remainder of the paper is structured as follows: the paper begins with reviewing the literature relevant to the present area of study, secondly, it highlights the usage of social media in the launch phase of New Product Development (NPD) across the RACE planning framework followed by a conceptual model
Social media has changed the entire world of communication [53], [54]
Summary
The Internet has metamorphosed the entire world of marketing communication Today, it hosts a huge number of "human dialogue" which are mounting drastically [1] and unlocked to be viewed by anyone- anywhere in the World Wide Web (WWW) connected world. Marketers today are fortunate because they have a wide variety of online tools and platforms to connect, co-create, and communicate in real-time with their customers [3]. It provides multiple interactive platforms that promise enhanced communication and better collaboration within and outside an organization's boundaries [10] This enhanced interaction provides a fertile ground for the development or co-creation of new products and services ideas which can be translated into future offerings of the firm. The above introduction leaves us to investigate the answer to the following research question
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