With so many people doing their shopping online, getting their news updates through social media and communicating with their friends and family online it is increasingly becoming far more effective to use these channels for marketing purposes. As well as being able to target prospective purchasers directly, retailers can rely on people to share product information online across their social networks.
Not only will it replace traditional marketing, but it already has. Many movies, tv shows, and products have gained notoriety and fame after going viral. Dollar Shave Club and Poo Pourri are both products that have become successful because of funny videos that went viral. As the Internet becomes more of our lives, it will happen more often.
The internet will replace traditional marketing. Major website and social media platforms like YouTube have made it easy for advertisers to distribute marketing content online to a larger audience. Online advertising can potentially reach more customers at a fraction of the costs of traditional marketing. Also, many clever online ads can go viral, giving brands an even larger exposure.
The Internet is a tool for traditional marketing. Traditional marketing, like billboards, TV ads and physical ads IRL are all going to continue. And be successful too. It's the way that companies get their messages across for their products. It's how they make their money, but also how they spend a major part of it.