Discuss about the Social Media Marketing Strategy.
Social media is the new trend in business management and marketing. Companies benefit immensely by using social networking sites like Facebook or Twitter. Social media marketing strategy has evolved as an integral part of marketing and business. Companies today could easily interact with the target customers and narrow down the product launch or development or business plan as per the taste, preference or feedback given by the company. An empirical study on the issues argues ways in which social media marketing strategy has helped in improving consumer loyalty; helped in identifying the focussed customer need, target relevant audience, enhanced brand image through blogging and instagram promotions (Alves et al. 2016). It has even helped in reducing cost on advertising and marketing and accelerated the overall promotion process in a strategic manner.
The project objectives are mentioned below;
As far as the selection of respective questions is concerned, these questions here are relevant and needed in order to complete the study. These questions will help in giving a direction to the study of social media tools and how they help in improving business in the contemporary business environment (Dutta, 2012). The questions are specifically selected in line with the research aim and after studying the discussion in a proper way so that the respective study could be completed in a systematic way. Hence these selected few are relevant and needed to be addressed during the course of the study to complete the dissertation in a systematic manner (Ashley and Tuten, 2014).
The research here aims at studying and understanding ways in which social media has evolved as one of the most effective tools for promotion and marketing in the contemporary business environment. It has further delved deep to shed a light on, how it has helped a company in branding and advertising in a cost effective manner and ensured revenue generation and sustenance of the brand in the competitive business environment. Though several researchers have underpinned several disadvantages of using the approach, yet over the years it has improved and helped companies to enhance business in a positive way by using social networking (Ashley and Tuten, 2014). Thus in spite of having certain limitations, the approach has proved effective and useful.
Since the social media tools are one of the most recent innovations in the marketing and branding area, the researcher here has decided to select the topic for conducting an in-depth study and understand its effectiveness in the present business context. Social media marketing is underpinned by several researchers is the most effective marketing strategy used in the contemporary business environment. Companies today no longer rely on traditional marketing approaches. Therefore, the justification for carrying out the research lies in evaluation of the influence of social media in manipulating consumer perception on brand and product selection and influencing buying behaviour (Dorenda-Zaborowicz, 2012). Social media has hence helped in improving overall image of the brand and also assisted in enhancing business in a defined way. Though the use of social media has both positive and negative impact on the business, yet considering benefits of using social media to a large extent companies today emphasise on adapting the respective approach for business promotion, manipulate consumer buying behaviour and decision making. Social media marketing helps in taking right steps and manage social media in a defined way.
The research questions here are underpinned after understanding the topic in detail. The questions act as a guideline to the study and helps in completing the investigation in a chronological manner;
The research design is selected after studying the aim as well as objectives underpinned during the study. With the help of an apt design, the analyst completes the study in a systematic way. Key research design types that guide the investigation work are Explanatory, Exploratory and Descriptive. In this study on HR planning and its importance, the researcher will select the descriptive design and complete the analysis in a proper way. With the help of the Descriptive Design, the researcher will successfully collect detailed information from several sources and it will be discussed and detailed in a systematic way (Kumar and Metzler, 2014).
As far as the research philosophy is concerned, Positivism philosophy shall be applied here as the researcher will collect data by conducting survey and market research. Deductive research approach will be implemented as it is suitable with positivism philosophy.
A sample size of 50 consumers will be selected for conducting the survey and 5 managers have been identified to collect qualitative data by conducting a focus group. Two sets of questionnaire shall be circulated, closed ended quantitative questions will be developed by following Likert scale to conduct a survey of the consumers, and 5 managers shall be included to conduct focus group and understand ways in which the social media strategies have successfully helped the company in promotion and branding (Neuman, 2014).
Generally, there are two main types of sample methods, such as
Probability sampling is a technique where the analyst identifies the respondents on a random basis. However, it is expected that the sample should represent the entire population of the investigation.
Non-probability sampling, on the other hand, is a process where the respondents are selected on a purposive basis and not in a general way.
In this research work, the author has identified cluster form of probability sampling and collected primary data from a large number of respondents from different age groups of consumer from a retail store in Sydney (Quinlan, 2015).
Data collection is an integral part of dissertation and it helps in completing the study in a validated manner. The Primary and Secondary data are the most common types of data collected for the purpose of conduction of calculation and evaluation. Qualitative and Quantitative data are also collected for in-depth analysis (Kothari and Garg, 2016).
The primary data will be collected by conducting a survey and accumulate opinion by circulating questionnaires among the respondents. Both qualitative and quantitative primary data will be accumulated in order to carry out the research study in a systematic manner. The survey questions that will be developed shall be closed ended. The researcher will make use of Survey monkey to circulate the questionnaire and gather information from respondents. Besides this the qualitative data will be accumulated by conducting Focus group will be implemented to collect qualitative data by conducting interview and developing open ended questions to interview the managers (Dorenda-Zaborowicz, 2012).
Secondary Data: the secondary data will be collected by studying extensively from existing academic books, scholarly literature, journals, articles and PDF published by scholars on the same topic. The researcher will conduct an in-depth study from academic books and journals and then present a critical review on the topic.
As far as the research limitations are concerned, as a student researcher, the following issues were faced during the investigation process and submission of work. In this situation, the primary limitation has arisen from time and budget. Since a student is expected to submit a professional standard quality as well as well researched dissertation project within the given deadline, it may be mentioned here that carrying out a professional standard research needs time and resources. Thus it is difficult to submit quality work in a very short period(Kumar and Metzler, 2014). It is also difficult for the student to conduct extensive research work within a short time period hence has to compromise on the intensity of data collection and evaluation process. Secondly, budget is another major issue, since the student is given a fixed budget it is difficult for the researcher to spend on new books, materials and other necessary data, instead only forced to complete the work within a short time and with available resources in college or University library and also from online database and free academic portals. Besides this, since the evaluation and findings are depended on the data collected from respondents, the validity of the collated information depends on the way they have been communicated. The researcher lacks in control on the response of people (Kothari and Garg, 2016). This is another limitation which also affects the quality of dissertation work.
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Criteria |
Week 1 |
Week 2 |
Week 3 |
Week 4 |
Week 5 |
Week 6 |
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Introduction to the topic |
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Identifying Aims and objectives |
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Accumulating secondary sources of information |
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Carrying out Literature Review |
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Identify research Methodology |
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Collect and collate primary or fresh data |
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Evaluate and interpret primary data for fresh findings |
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Conclusion and Recommendation for future studies |
Conclusion
It is expected that by the inference of the study the researcher will successfully discuss ways in which customers today successfully connect with the brand through open communication conducted on the social platform and how this two-way communication has encouraged in enhancing business and sustenance of the brand amidst growing competition. The research questions shall be answered during the course of the study and gaps in existing literature will be discussed as well. Managing consumer behaviour on the virtual platform has hence experienced a new dimension through social media strategies. It could be culminated here that though there are certain limitations in using social media yet it is one of the most effective tools in the present day business scenario.
References
Alves, H., Fernandes, C. and Raposo, M. (2016). Social Media Marketing: A Literature Review and Implications. Psychology & Marketing, 33(12), pp.1029-1038.
Ashley, C. and Tuten, T. (2014). Creative Strategies in Social Media Marketing: An Exploratory Study of Branded Social Content and Consumer Engagement. Psychology & Marketing, 32(1), pp.15-27.
Blumberg, B., Cooper, D. and Schindler, P. (2014). Business research methods. London: McGraw-Hill Education.
Dorenda-Zaborowicz, M. (2012). Marketing w social media. Nowe Media, 0(3), p.59.
Dutta, K. (2012). Social Media Marketing – A Paradigm Shift in the Marketing Practice. SSRN Electronic Journal.
Kothari, C. and Garg, G. (2016). Research methodology. New Delhi: New Age International (P) Limeted.
Kumar, R. and Metzler, K. (2014). Research methodology. Los Angeles: SAGE.
Neuman, W. (2014). Social research methods. Boston [u.a.]: Pearson.
Quinlan, C. (2015). Business research methods. Andover: Cengage Learning EMEA.
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