Impact of Social Media Marketing on Brand Recognition
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Added on 2020-10-23
Impact of Social Media Marketing on Brand Recognition
Added on 2020-10-23
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IMPACT OF SOCIALMEDIA MARKETING ONBRAND RECOGNITION
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1PROBLEM STATEMENT..............................................................................................................2RESEARCH OBJECTIVES / RESEARCH QUESTIONS.............................................................2JUSTIFICATION OF THE RESEARCH........................................................................................3EXPECTED OUTCOME OF THE RESEARCH...........................................................................3CONCEPTUAL FRAMEWORK AND HYPOTHESIS DEVELOPMENT..................................1Concept of social media marketing........................................................................................1Importance of brand recognition in Woolworth.....................................................................1Link between social media marketing and brand recognition for Woolworth.......................2Recommendation of effective strategies of social media marketing for effective brandrecognition in chosen enterprise.............................................................................................2Hypothesis development........................................................................................................3METHODOLOGY..........................................................................................................................4Research approach and sources of data..................................................................................4Proposed data collection and analysis techniques..................................................................4Organisation of the study........................................................................................................5Budget, project activities and Gantt chart..............................................................................6REFERENCES................................................................................................................................8
INTRODUCTION Social media marketing plays an important role in every business. It is the use of socialmedia platform or different websites which are used in order to promote products and services ofa company. Further, social media become a popular key aspect for a business-man as well asresearchers. Basically, it is used to let people know about new products but many companies alsouse social media platform to track the progress and success of a firm. Managers and leaders of acompany also uses variety of social media platform in order to promote their best products andservices in the market Bloom, Hussein, & Szykman, (2018). To make their brand best, companyuses social platform such as websites, Facebook, Advertisements and Internet etc. The topic ofthis report is about impact of social media marketing on brand recognition such that it createspositive impact upon company's profitability and productivity. In order to build strongrelationship with customers, almost more than 60 % of the company in Australia are usingplatform of social media because Internet helps to reach variety of peoples in order to maximizescompany's profit. Social media marketing assist to identifies sudden changes in the buyingpattern of a customers which help further to maximizes profit of a company.In this growing competitive world, many companies are finding new strategies in order tomake their customers satisfied with their offered products and services. The report deals withWoolworth which is a retail supermarket in Australia who offers variety of groceries and cloth totheir customers at low and affordable rates Middlestadt, Peyton, & Tjugum, B. (2018). Recentlythe company start adopting social media as a promotional tool in order to attract wide range ofcustomers towards a quoted company that includes internet, websites and Facebook. Therefore,the company come to know that in order to maximizes their profit as well as productivity, thereis a need to use social media as a promotional tool. Further to achieve the competitive advantage,Woolworth also realizes that there is a need to focus on customers’ experience and it must beattain by using proper social media. Therefore, listed company need to build strongorganizational culture that helps to attain all well-defined ways of social media marketingstrategy to complete the needs of their customers.The present report helps to understand the importance of social media marketing onbrand recognition of Woolworth and introduction part of the project form Section 1 of thisresearch proposal. Section 2 and 3 is followed by problem statement, research objectives orquestions, justification of the proposed proposal with the expected results. Further, section 4 of1
this project consist of conceptual framework and research hypothesis precede by Methodologywhere all the aims and objectives are further elaborated by using Literature review. In section 5and 6 the report comprises organization of study, Gantt chart and the budget that must be carriedout with a proposal. PROBLEM STATEMENTSocial media marketing is considered as one of the most effective marketing andpromotional tool for every company. In large as well as small companies, they consider socialmedia as most important aspect which provides incredible benefits which further helps to reachvariety of customers worldwide. Or in other terms companies uses this as a profitable source. Buton the other side, in this competitive world each and every firm uses this as a promotional toolwhich become problem Flora, Schooler & Pierson, (2018). Competition is the biggest challengeas it represents an active threat for Woolworth position and to keep improving company'sworking environment, it is necessary to choose one social media platform out of many in order tosustain in this competitive world. Moreover, social media is considered as a systematic approach that helps to solve varietyof problems or it is a tool that helps to maximizes profitability as well as productivity of acompany. On the other hand, there is no exact research which shows that there may be any consof using social media. But Woolworth faces problem in the terms of competition by using thissocial media marketing in order to achieve competitive advantage, listed company did not knowexact social marketing strategy to satisfy their customers’ needs Andreasen (2018).RESEARCH OBJECTIVES / RESEARCH QUESTIONSAim: “To determine the impact of Social Media Marketing on brand recognition – Astudy on Woolworths”.The focus of this report is on retail sector and analysis is based upon following researchquestions which are listed below:Research Question 1: What do you understand by the concept of Social Media Marketing?Research Question 2: How did you identifies the importance of brand recognition inWoolworths?Research Question 3: Will there be any link between social media marketing and brandrecognition of Woolworths?2
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