The Role Of Social Media In Product Marketing

The Impact of Social Media on Product Marketing

The concept of social media is a new buzz for the businesses, brands and organizations to expand their marketing. The organization and the brands take the help of social media for creating news, make new friends, have followers and make connections all over the world (Kohli, Suri & Kapoor, 2015). The effect of social media plays a vital role for communication which links business together, find the lost ones, sharing of pictures, videos and chatting for the whole world. The social media plays an important role for job creation, as well as boosting the country’s economy.

The social media is used for some internal communication and used for engaging method for existing as well as potential customers. The social media states that there is a business revolution which occurs for the arrival of many social media which includes FaceBook, Twitter, and LinkedIn. The social media is considered as a game changer of the business. The companies that has invested the power of social media mostly claims high returns with the possibility of greater gains with the use of social media. This report states the details of social media that are used to enhance the product marketing.

The platforms of Social Media, which includes FaceBook, Twitter or other such mediums, mainly offers many ways for analyzing the trends as well as conduct the market research. By searching the last post and the popular terms, an organization basically can gain an insight of the emerging trends and also can see about the demand of customers in the real-time system (Xu, Frankwick & Ramirez, 2016). Developing and creating the website is very much important for any type of businesses and in product marketing. Publishing an online website for the product or service related to a company helps to expand the online outreach of the business on the platforms of social media.

Ecommerce that is involved in small as well as big organization, are considered as the best beneficiaries involved in social media (Wang, Pauleen & Zhang, 2016). From the studies it can be seen that 75.3 percent of the total people makes purchases on the marketplace because of the effect of social media. About 80 percent of the total people basically views the product or the service for at least 2 to 3 times on the social media before actually buying the product. People nowadays depends on social media for viewing the result of their product and deciding whether to buy the product or not.

Analyzing the Trends and Conducting Market Research on Social Media

The main aim of this research paper is to mainly identify the different factors of social media which helps to determine purchase of the product from the view point of a customer. This research paper also aims at measuring the ability of social media on return investment and also about developing a model of product selling from the viewpoint of the retailer.

This research paper also has many objectives which helps to understand the reason behind the increasing usage of social media for purpose communication and product marketing. The objectives of the research paper are stated below:

• To investigate the importance of social media for marketing strategy of products in business.
• To study the measurability involved in social media and the way social media generates the revenue for organization.
• To understand the social media marketing impact on the purchasing decision of the customer.
• To study the insight of the social networking from different dimensions from view point of the customers for selecting the retail units.

The research questions that are to be addressed for this research paper are discussed below.

• What is the importance of social media for marketing strategy of products in business?
• What are the insights of the social networking from different dimensions from view point of the customers for selecting the retail units?
• How social media is measured in marketing and what are the ways in which social media generates the revenue for organization?
• How social media is important for making the purchasing decision of the customer?

Tiago & Veríssimo (2014), Social media is a web application that supports the content creation of the user as well as collaboration. With the help of social media, people can seek ideas as well as share ideas, expertise, share emotions, opinions, share information as well as share experience with others with the help of Internet (Tuten & Solomon, 2017). There are many facilities that social media allows the customer as well as business (Constantinides, 2014). The service allows individuals to construct pubic profile within the bounded system (Zhu & Chen, 2015). It also helps to articulate all the users who are connected with the social media (Kumar et al., 2016). The social media service also helps to view as well as traverse the connection list for those who are in the system (Lamberton & Stephen, 2016).

The social business will provide business opportunity for the business which plays an important role for making a connection with the customers and build a relationship for the company and customer as well (Godey et al. 2016). The social media play some important characters in product marketing. The characteristics of social media helps in

• Participation which involves involvement all the contribution process for sharing news and to give feedback (Ashley, C., & Tuten, 2015).
• Openness which indicates that the barriers are less and the content of social media is easily reachable and problems are easily discussable (Wang, Pauleen & Zhang, 2016)..
• Continuity which involves common interests, passions, and hobbies that creates groups who can share their personal interests (Aven et al., 2014).
• Correctness involves permanent connection such as linking in between people, lifestyles, and resources of the people (Alvesson, M., & Sköldberg, 2017).

Hyder (2016) stated that companies mainly use social media for marketing, innovation, problem resolution, customer service, sales, and advertising. The product marketing is done to enhance the brand image and the brand image can be increased by involvement of social media in the company (Kohli, Suri & Kapoor, 2015). Services of social media helps to plan the use of traditional media and the social media for reaching to more number of people which creates bigger market for them.

Scott (2015) stated that there are a numerous number of social media options for the individuals to use. There is Facebook that is ideal platform of social media that creates brand awareness as well as engage with the customers (Strauss & Frost, 2016). There is Twitter which makes encouraging interaction with the customers and hash tag feature helps to share all the valuable content in between the organization and the customer (Trainor, A. A., & Graue, 2014). YouTube is such a feature in which the businesses who wants to use videos for promoting their brands, can choose as a medium for increasing the visibility (Fan, Lau & Zhao, 2015). The social media plays an important role for job creation, as well as boosting the country’s economy (Smith & Osborn, 2015). According to GOK & GOK (2016), the social media plays an important role for product marketing as it creates a connection with audience that are targeted by the company. The social business is basically an application in which the social technology are used as a component of the business processes which revolves about how the customers will connect to their business and will remain connected to their business (Xu, Frankwick & Ramirez, 2016). So, involvement of social media will help to make the product marketing more important for business marketing.

Benefits of Social Media for E-commerce Businesses

The research design that will be used for the carrying out this research paper is exploratory as well as descriptive research design (Trainor, A. A., & Graue, 2014). The exploratory design is used for investigating a problem or a situation that provides the insights of researcher. The research design that will have exploratory design provides much details where only a small amount of data exits. There are different types of methods which includes studies, group decisions, studies as well as experiments for gaining such information (Smith & Osborn, 2015). The descriptive research design involves studying different surveys as well as finds all the enquiries that are of different kinds. The purpose of using descriptive research design is to describe the state of the affair that exists in the present situation.

The data sources that will be used for conducting research study is secondary data source. The secondary data sources are the data that have been collected and are available for all other resources such as different publications, and are accessible publicly (GOK & GOK, 2016). The data that are collected from books, reports, as well other secondary resources that can be accessed publicly. The data collection method that will be used for the research study is qualitative as well as quantitative method of data collection (Alvesson & Sköldberg, 2017). All theoretical data as well as statistical data that are available are studied for solving the research questions of the research paper.

Task Name	Duration	Start	Finish
Project Timeline	36 days	Mon 8/20/18	Fri 10/5/18
Study Initiation	5 days	Mon 8/20/18	Fri 8/24/18
Requirements Analysis	1 day	Mon 8/20/18	Mon 8/20/18
Approval of Research Topic from the Supervisor	1 day	Tue 8/21/18	Tue 8/21/18
Developing Research Plan Document	1 day	Wed 8/22/18	Wed 8/22/18
Developing Research Framework	1 day	Thu 8/23/18	Thu 8/23/18
Preparing Draft for Research Proposal	1 day	Fri 8/24/18	Fri 8/24/18
Research Planning	5 days	Sat 8/25/18	Thu 8/30/18
Forming Research Team	1 day	Sat 8/25/18	Sat 8/25/18
Analyzing Research Requirement	1 day	Sat 8/25/18	Sat 8/25/18
Identifying Research Questions	1 day	Mon 8/27/18	Mon 8/27/18
Identifying Scope of Research	1 day	Tue 8/28/18	Tue 8/28/18
Estimating Research Timeline	1 day	Wed 8/29/18	Wed 8/29/18
Allocating the Resources and Time of Research	1 day	Thu 8/30/18	Thu 8/30/18
Starting of Research	0 days	Thu 8/30/18	Thu 8/30/18
Research Development	11 days	Fri 8/31/18	Fri 9/14/18
Determining Research Problems	1 day	Fri 8/31/18	Fri 8/31/18
Accessing the Necessary Media	2 days	Mon 9/3/18	Tue 9/4/18
Accessing the Online Library	1 day	Mon 9/3/18	Mon 9/3/18
Selecting the Literary Sources	3 days	Tue 9/4/18	Thu 9/6/18
Literature Review	2 days	Fri 9/7/18	Mon 9/10/18
Collecting Necessary Data	2 days	Tue 9/11/18	Wed 9/12/18
Collecting Secondary Data	2 days	Thu 9/13/18	Fri 9/14/18
Data Analysis	4 days	Mon 9/17/18	Thu 9/20/18
Qualitative Secondary Data Analysis	2 days	Mon 9/17/18	Tue 9/18/18
Quantitative Secondary Data Analysis	2 days	Wed 9/19/18	Thu 9/20/18
Research Evaluation	6 days	Fri 9/21/18	Fri 9/28/18
Evaluating the Data	2 days	Fri 9/21/18	Mon 9/24/18
Reflection of the Research Undertaken	2 days	Tue 9/25/18	Wed 9/26/18
Documenting the Learning Outcomes	1 day	Tue 9/25/18	Tue 9/25/18
Issues Identification as well as Future Planning	2 days	Thu 9/27/18	Fri 9/28/18
Research Closure	5 days	Mon 10/1/18	Fri 10/5/18
Completion of all Activities	1 day	Mon 10/1/18	Mon 10/1/18
Documenting the Research	1 day	Tue 10/2/18	Tue 10/2/18
Validating the Research and Learning	2 days	Wed 10/3/18	Thu 10/4/18
Final Team Signing Off	1 day	Fri 10/5/18	Fri 10/5/18

Table 1: Project Timeline

(Source: Created by Author)

Conclusion

Concluding this research paper, it can be studied the effectiveness of the social media for product marketing. Many book, product marketing websites, blogs, and forums are studied for addressing the research questions of this research paper and fulfilling the objective of the research. The tool of social media is considered as the most suitable tool that is responsible for successful online product marketing and increase the sales of the company. This research proposal mainly focused on the social media tool, and product marketing of the businesses. The social business will provide business opportunity for the business which plays an important role for making a connection with the customers and build a relationship for the company and customer as well.

From the above discussion it can be summed up that social media is a nutshell which effective for the online businesses today for enhancing the product marketing. There are online marketing, business to business online marketing, marketing the product should be kept as priority and strategies for improving the opportunities of social media should be focused.

Objectives of the Research Paper

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