Social media such as the phenomenon of modern business

Social media is becoming an integral part of marketing communications. Therefore, it cannot be ignored by a successful company when setting its business strategy. The main aim of this paper is to present a critical view of the current possibilities of social media and based on the findings capture the key factors for business success through social media. This objective is achieved through a critical analysis of primary and secondary statistical sources dealing with the possibilities of Internet marketing communication and through a comparative analysis of the world’s social media population with the online social population in the Czech Republic.

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