Functions of traditional media?
Information, entertainment, advertising.
Traditional media is considered to be 'spoonfed' sources of information - a one-way conversation where some media outlet or publisher says "Here you go. This is it." Whereas with social media the power has shifted to the people and the proliferation of user-generated content. It is now a two-way conversation. Interaction between people is the main advantage of social media, while traditional media is one-way, and is targeted at people without much interaction.
It's about the media basically. Traditional as in 'traditional media': newspapers, television, radio, billboards... Virtual as in 'online media': web, mobile... But it can also apply to matted in logos or ads that you see in football games for instance - the brandname of the advertiser gets super-imposed over the centre field or near the goal.
This negative term usually refers to so-called "traditional" media such as television (especially broadcast TV), newspapers and magazines. It is used most often in comparison to the "new media" or "alternative media": internet (blogs, podcasts, websites) and talk radio. Further, it used extensively in political discussions by those who feel that the aforementioned "traditional" media has a liberal political bias, usually conservatives. ~pS!~
For me as a Social Media Marketer, the main point of it is about the brand. Your brand is your most valuable asset of the business and social media helps customers and prospects outside the traditional "coming out" in your face approach to advertising.Social media is designed to inform, engage and interact. That's the main point of using Social Media, for me.