I just wonder what social media networks like facebook, Orkuts can do in creating awareness or buzz for any products. Just look at it, one simple account connects you to over 1000 people and much more, though not all of them are so closely connected in terms of communications. All social media accounts are like club membership in real world, and like in clubs you have peers who you are close to and who can easily be influenced by your thoughts on movies, products, etc, the same goes for social media accounts.
For example, a movie you have seen or a car you have bought, you share it with your colleagues and group members, there could be up teem probability of few people having the need and going for the same, based on your review.
Today, is the world of consumer experience especially when it comes to substantial investments, I hardly know any individual, who has bought a sedan or even a Small car based on the advertising he has seen/heard, they are mere reinforcers.
I have got so many calls from my friends taking feedback on my car in terms of performance, after sales, to decide on their preferences.
Facebooks and Orkuts widens the horizon of the feedback to tremendous level, and can have great impact on consumer decision making. It is no surprise that all big corporates especially in the automotive and White goods segments, have a dedicated team of people to monitor the share of voice/feedbacks of the products and services, in the web world. The monitoring includes, social media sites, blogs, chats, etc.