| Summary: | With the explosion of technology we are finding that our methods of communication are changing rapidly year to year. The way that we interact with each other from personal levels to more formal business is all being affected. With the birth of the internet we have seen continuous growth of communication methods via this medium and most recently is the boom of the Internet Based Networking Websites (IBNWs) that allow the, over 300million, users to interact with each other. Websites like Facebook, Linkedin, and Twitter are very good examples of IBNWs that provide great platforms for communicating messages and advertising companies regardless of where in the world they are. Geography is quickly becoming an obstacle of the past as IBNWs allow business to reach people based on their demographic rather then location. Through the use of IBNWs people can target, segment, and filter according to the people they wish to advertise to, all for free. This in turn is now having a huge impact on the advertising industry as ad agencies are being pressured to change their more traditional marketing structures to fit the modern environment, as people, especially young entrepreneurs, are finding a plethora of ways to advertise online for free. Because of this huge reshape of the advertising industry we have chosen to look in to how this all affects the entrepreneur and therefore have taken on the task of answering the question: How do IBNWs affect the process of advertising in the development of new ventures? In this thesis we delve in to the topic of modern advertising in relation to traditional forms of advertising (T.V, Radio, Print) to see how and in what ways IBNWs are having an impact of company start-ups. With the use of many authors and concepts we build a theoretical perspective to help us analyze the data retrieved from 10 entrepreneurs from around the world. The theoretical perspective is made of four key elements: Cost, Clutter, Interactivity, and Objectives of advertising. With a qualitative interpretivist approach we have constructed an in-depth case study that explores the development of 10 different ventures from the perspective of the entrepreneurs running them. However to aid us in our analysis and understanding of the industry of advertising and business development we interviewed the Chief Creative officer at Ogilvy&Mathers, and an Manager at International Venture Club. The final goal of the study is to generate an original framework for entrepreneurs in modern advertising. What we found was that due to the lack of resources by the entrepreneurs IBNWs provide a great cost effective method of reaching a large and relevant audience. Among other findings we found that IBNWs are a great starting point for all entrepreneurs in their process of advertising due to its cheap and easy to use platform. In conclusion we found that IBNWs do have a huge impact on the process of advertising in the development of new ventures. Keywords: IBNWs, Advertising, Cost, Clutter, Interactivity, Advertising Objectives
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