Comparison of Social Media Marketing with Traditional Word of Mouth Marketing

Comparison of social media marketing with traditional word of mouth marketing
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Table of contents
1. Introduction..................................................................................................................................3
1.1. Problem Statement................................................................................................................3
1.2.Research Aim and Objectives................................................................................................4
1.3.Research questions.................................................................................................................4
1.4.Research Justification and Potential Outputs........................................................................5
2.The Conceptual Framework and hypothesis development...........................................................6
2.0 Significance of social media marketing.................................................................................6
2.1 Concept of traditional word of mouth marketing..................................................................6
2.2 Interrelationship between social media marketing and word of mouth marketing...............7
2.3 Difference between social media marketing and traditional marketing................................7
2.4 Social media marketing and its impact on enhancing business profitability.........................8
2.5 Conceptual framework.........................................................................................................10
3.Methodology...............................................................................................................................11
3.1Research philosophy.............................................................................................................11
3.2Research Approach...............................................................................................................11
3.3Research design....................................................................................................................11
3.4Data collection method.........................................................................................................12
4.Research Project Organisation, Budget and Schedule................................................................12
4.1Reserach project organization...............................................................................................12

4.2Budget...................................................................................................................................12
4.3Schedule................................................................................................................................13
4.4Gantt Chart............................................................................................................................15
References......................................................................................................................................16

1. Introduction
1.1. Problem Statement
The diverse range of marketing operations that are undertaken by the organizations assist
the same in developing the potentials of the same while operating in different markets. Stephen
(2016) stated that the different mediums that are utilized by the organizations for enhancing the
rate of collaborations assisted the ventures in developing the potentials of the same while
operating in the different markets. The transition from the traditional word of mouth marketing
to the social media marketing assisted the ventures in enhancing the potentials of attracting the
attention of vivid range of customers.
However, there are different cost related factors that might challenge the potentials of the
venture while operating in different markets. Barreto (2014) stated that the costs that might be
incurred by the organizations has challenged the same in developing the potential while
marketing and positioning their offerings in adherence to the demand of the customers. The
enhanced rate of operations of the venture assists the same in improving the efficiency of the
operations in adherence to the demand of the customers. The research will aim at delineating the
difference between the traditional word of mouth and social media marketing and promotions.
The different modifications in the organizational processes are reliant on the
effectiveness of the marketing approach and the strategies that are considered by the ventures.
The marketing strategies are created with the objective of attracting the attention of the target
customers. The social media marketing assists an organization in enhancing the rate of
persuasiveness while adhering to the technological innovations. On the contrary, word of mouth
marketing through grapevine communication might affect the brand image of the ventures