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Biofuel Production Economics

   

Added on  2020-01-07

21 Pages5574 Words311 Views
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Social media affects consumer choice
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Table of Contents1.1 Research outline specification.....................................................................................................31.2 Factors that contribute to the process of research project selection..........................................51.3 Critical review of the social media and its impact on the consumer choice................................61.4 Research report proposal of the social media and its impact on consumer choice.....................61.5 Plan and procedures for the research specification.....................................................................8Task 2.........................................................................................................................................................102.1....................................................................................................................................................102.2 Questionnaire on the social media and its impact on the consumer choice..............................112.3 Record the collected data from participants in the form of a frequency...................................12Task 3.........................................................................................................................................................153.1 Research evaluation technique..................................................................................................153.2 Data analysis..............................................................................................................................153.3 Justify area for further research................................................................................................17Task 4.........................................................................................................................................................174.1 Recommendation......................................................................................................................17Conclusion.................................................................................................................................................18REFERENCES..............................................................................................................................................19
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IntroductionSocial media is one of the most suitable tools and techniques which can be used by thebusiness organization in order to promote firm’s product and services in an effective manner. ithaving a large impact on the consumer choice which can help to select best product among thevarious products and services. At the tile of social media, the business unit can provideinformation and update to their products upgradation or any new launch (Jackson and Senker,2011). They can conduct feedback about their new products which can help to improve itsfeatures and help to generate demand forecasting through using various approaches of socialmedia. These tools can be involved Facebook, You Tube, Instagram and other platforms. Todaythe role of innovation and technology in to the marketing and advertising having a greatsignificant. Digital media is one of the cost effective tools which can help to attain firm’s longterm goals and objectives in an effective manner. The present report is based on the ALDI whichis one of the leading retail business organization in the United Kingdom. They provide a widerange of products to its customers. But in the recent years the competitiveness in the retailindustry is growing which having an adverse impact on the profitability and market share of thecompany (Klein‐Marcuschamer, and et. al., 2012). 1.1 Research outline specificationBackground of research: It is essential to make a research on different topics, these can help to any organization and any person to make changes in methods and strategies. Companies which are working in markets has to use different medium to communicate with their customers, it can help to them to make a lead on them. Research topic: Social Media Affects On Consumer ChoiceOrganization for the purpose of this research: ALDIResearch Aims: To analyses how customers can be affected by using social media.Objectives of the research: This is another element of the study which is related with the aimsand objectives of the company. This research main aim is to having a great significance in thebusiness performance of the business entity. These aims are given below:To understand various social media tools and approaches in the business.To understand the consumer behavior and its buying decision making.To determine the relationship between the social media and its impact on the consumer.
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Research questions:How company can use social media tools in the business?Why manager of company have to make correct decision and analyze consumerbehavior?How company have to maintain relationship between social media and impact onconsumers?This is essential for a business organization is to understand the topic of the study which can helpto provide a most appropriate solution for the company. This part of the research is discussedabout the various aspects of the research which is given below:Background of the study: This is one of the most significant part of the study which is relatedwith the overview of the topic and the selected business organization. In the context of givencase, today there are various tools and techniques which can be used by the each and everybusiness organization in to their business. There are large number of customers who active on theinternet and social media. It can be possibility that they having a large influenced on theirselection of goods and services (Costanza and et. al., 2016). On the other hand, ALDI which is aretail business organization having a large number of loyal customers in the United Kingdom. Research tools and techniques: It is related with the various approaches which are going to use inthe study. In the context of given case study, qualitative research methodology to be used. Therandom sampling among the 100 loyal customer which covers the demographic and other aspects(Coase, 2013). Collection of data: In a research report there are two types of data collection methods one iscalled primary and secondary data. In the present report both primary and secondary data andinformation to be used. Significance of the research: The present study is having a great significance in the growth anddevelopment of the business unit. ALDI is operating their business in to the UK which facingtough competition in the market. Therefore, the cited business organization required that to usesuch reports which can help to improve their business performance in an effective manner.
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1.2 Factors that contribute to the process of research project selectionIt is important for a business unit is to identify various factors which can affects the selection ofthe research for the cited company. These factors are given below:Cost is one of the major factor which having a large influenced on the business. because, thereare various digital media tool which are cost effective for the company as compare to thetraditional media tool. They required that to use such approach in to their business activitieswhich can help to improve their product performance and increase customer loyalty. The citedbusiness organization also required an integrated promotional campaign which can help toincrease success in the promotional activities and which can lead to increase profitability of thecompany which is the common goals for each and every business unit (Etter, Tilley, and et. al.,2011). Return on investment is another factors which must be considered by every company. Theymake sure that how much money going to spend on the promotional activities should berecovered through their sales and market share. in this context, ALDI can make a budget for theiradvertisement campaign which can create awareness of the products in to the market andincrease market share of the company. Here is a list of factors which can effect on selecting a topic:Interest: Personal interest of researcher can make a high influence on selecting topic. Socialmarketing is a subject which is a current topic. Benefits: Research on this topic can give benefits to those companies which are using the socialmedia channels to make a communication.Experience: Personal experience on this sector can help to researcher to make a better analysison the topic. Resource availability: Different resources also make huge impact on the research like; financeand human resources plays a major role to conduct a research. Unavailability of finance canmake a major impact on results of research.
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1.3 Critical review of the social media and its impact on the consumer choiceAccording to Atzeni, and Salmi, (2012) Social media are becoming critical for the customerdecision making. It having a high involvement on the overall decision making of the customerand its selection of goods and services. There are various social media platform such as Twitter,Facebook, Instagram etc. which can help in to the buying an appropriate product for them. Onthe other hand, according to Deichmann, (2011) The digital media platform cannot contribute inthe decision making process. It can only help to create awareness just like other digital; mediatools. Therefore, the cited business organization is required that to use these platforms in aneffective manner. As per the Deloitte report there are 47 percent people who having the affectedby the social media at the time of buying products and services as compared to 19 percent formix age group. This study focused on that those people who use social media at the of buyinggoods and services are more willing to spend money on it. Whereas, most of other reports saidthat there is little impact on the decision making process of goods and services. According to theBattman (1979), there are motivation factors which can help to motivate the decision makingprocess at the time of purchasing retail products. Social media is one of the factor which can beinfluenced of the consumer and its different choices. Sternthal and Craig (1982) for the selectionof goods the social media tools only used for the information search. In the buying process of theconsumer the role of feedback also important, if the feedback is good it can help to increase salesand promote firm’s products in an effective manner. If their purchasing can positive, it canmotivate in the near future as well. As per Coase (2013), consumers can highly effected by socialmedia, by this a company can make a lead on their targeted customers which can help to them toincrease their business. According to Deichmann (2011), communication is medium which canchange a mind set of targeted customers so it is essential for organization to establish a propercommunication with targeted market audience. As per Vandamme (2013) views organization hasto use contemprory communication tools which can help to organization to communicate withcustomers in a better manner. 1.4 Research report proposal of the social media and its impact on consumer choiceResearch report proposal is a summary of the overall study. It contains various elements of thereport which having too important for the researchers. In the context of current study, the projectproposal of ALDI is given below:
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