Public opinion and influencers on social media: the valuation of their effects by generation Y and Z in Hungary Public opinion and influencers on social media

Abstract

Internet technologies made it possible for organisations to reach masses of people. It has also become essential to get to know the right audience in order to achieve a better return on their investments in marketing campaigns. However, with the ever-changing world and fast-paced evolution of digital technologies the consumer preferences have also altered. Digital communication is mostly used by the younger generations. Even though in terms of their age there are also a slight difference between generation Y and generation Z, there are significant differences between them based on their consumption habits. The internet and the available forums allow people to express their feelings. With the introduction of social media virtually anybody can let their peers and the public know how they value different things, goods, services or, as in fact, also companies. Additionally, the various digital platforms and social media has brought the term “influencer” into life: a form of opinion leaders have born whose power can also be leveraged by the companies. However, it must also be taken into account that there might be differences in the reaction of the different cohort: this research aims to discover how the generation Y and generation Z in Hungary values the effects of the opinion of both consumers or the well-known public figures.