Social media promotion is more effective than traditional media advertisement. Do you agree with this ?

The most effective way to be promoted is the combination of the new tools(social media) and old fashion ways(personal meetings,leaflets, advertisements...).

Everything are depending on what you want to promote and at which target group. Your product and the need of your clients will guide you which way you are going to use.

It depends on the good to promote. If your target group is aged above40 y.o, then no. The traditional media is more effective.If you address to ages18-30 then yes, social media is quite more effective. Furthermore, other elements might me significant to choose the right media to promote such as: luxurious level, budget, marketing strategy etc. It's all about what is the goal to achieve and what is your target group. 

Yes that' because of more interactive in nature, where all stakeholder feel part of that campaign. social media can increase brand visibility to potential customers but same time increase in responsibility for rapid response to their queries. most important with comparatively low budget you can reach broader potential segment.

The mode of marketing/promotion basically depends upon your target market and the product. If it is some sort of tech gadget social media is a must but if it is something like a soap, for that traditional marketing would make more sense.

Social media marketing is certainly very useful and powerful tool for engaging large mass of potential customers/clients/business partners. This "tool" can is most effective in presenting some new products, services on the market, because it speeds up the process of getting the market to know your product/service. 

However, conducting a traditional marketing is more related to quality assurance for the product/service.