Should companies have their own MySpace profiles or profiles on other social networking sites? They could use their blogs to tell people about sales, new products or even to distribute printable coupons. Comments could be left on the site from consumers telling other people what they think of the product.

Sure some of the comments will be negative but if their competitors start their own MySpace profiles and they don't would that look worse for them? Think back over the past 12 years when many companies were not even thinking about having Web sites yet. Nowadays if a company doesn't have a Web site we consider them not to be a "real" company.

Will this happen to companies that don't create profiles on social networking sites and let people comment on them? People trust other people's opinions more than they trust the company. If it's a solid company this could be good for them.