Oct 09 2010
Framing Questions: Week 7
Chapter 11 of Applied Mass Communication Theory discusses the market structures of monopoly and monopolistic competition, as applied to the media. The chapter asserts that a competitive market remains the furthest from a true monopoly. I can’t help but wonder, when considering current social media monopolies such as Facebook, if perhaps the two market structures are actually related? After doing my panel presentation, I’ve found plenty of research supporting the idea that it’s the very presence of this monopoly that has initiated the birth of alternative social networking sites that challenge the Facebook-dominated social networking scene.
The relationship between audience needs and the advertiser is quite complex, according to Chapter 11, often times with one side favored over the other. Could the disconnect between these needs be narrowed with the growing presence of targeted advertising online? Technology allows for researchers to gather data based on your online activity, which then generates data about your assumed interests, shopping habits, etc. Do these technologies allow advertisers to more accurately pinpoint their audiences’ needs, even if the audience is unaware? Furthermore, does this strategy have a significant impact on the amount of advertiser revenue generated, since companies are more likely to advertise with the assumption that more specific audiences can be targeted?