The impact that social media marketing strategies have on the buying behaviour of the consumers
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This research analyzes the impact of social media marketing on consumer buying behaviour and identifies challenges in its implementation. Recommendations for effective strategies are provided.
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TABLE OF CONTENTS INTRODUCTION...........................................................................................................................3 Aim..............................................................................................................................................3 Objectives....................................................................................................................................3 Background..................................................................................................................................3 LITERATURE REVIEW................................................................................................................3 Social media marketing in present era.........................................................................................4 Impact of social media marketing on buying behaviour of the customers..................................4 Challenges that arise in social media marketing..........................................................................5 RESEARCH METHODOLOGY....................................................................................................6 ANALYSIS AND FINDINGS........................................................................................................7 CONCLUSION AND RECOMMENDATIONS............................................................................7 REFERENCES................................................................................................................................9
Title: “The impact that social media marketing strategies have on the buying behaviour of the consumers.” INTRODUCTION Aim To analyse the impact of the social media marketing practices on the consumer buying behaviour. Objectives To identify the concept of social media marketing practices. To understand the manner in which the social media marketing affects the buying decisions of the consumers. To ascertain the challenges that arises in the implementation of the social media marketing tactics. To recommend appropriate strategies that can be adopted in order to minimise the challenges identified. Background Social media has emerged as a very successful option and a feasible marketing platform where the companies have increasingly become active on such platforms. Tools like Facebook, Instagram, and Twitter handles etc. have become increasingly popular amongst the customers today and by presenting innovative marketing campaigns the companies are able to attract the attention of their targeted consume segments (Madhuhansi, 2019). However it is important to analyse and indentify that how such social media marketing campaigns are affecting the buying decisions of the customers and what are the positive or negative aspects that are associated to it. This research will present an analysis on this very topic and then develop appropriate findings or conclusions. LITERATURE REVIEW Literature review is a secondary research mechanism where the research papers and articles or journals that have already been published in the similar topic by other authors are analysed (Saboo, Kumar and Ramani, 2016). The literature review is a comprehensive part that helps in evaluating the different and contradictory viewpoints that have been presented by the different authors and then collectively develop a strong argument for the research that has been proposed. For the current topic as well, this can be done in a following manner. 3
Social media marketing in present era The research paper published bySudha and Sheena (2017), state that the concept of social media marketing has emerged in the past few years and has since then become extremely flexible and a favourite marketing platform for many companies. The authors further state that using social media as a marketing tools has become a preferred choice of the customers as well as companies as it is the most flexible, feasible and powerful tool for advertising and marketing is the present era. The trends have now changed and shifted from the traditional media to this modern media marketing platforms where the reliance on these platforms has increased too much and the companies strive towards achievement of their objectives solely based on the social media marketing aspects. The authors conclude that the social media marketing has indeed presented some new opportunities and options before the companies and especially the smaller firms or individual sellers who can minimise their marketing budgets by using such platforms. However, contradicting the point above, another research paper published byKhatib (2016), states that the shift from the traditional media has affected an entire customer segment of the companies. There are many customers or people who get regular knowledge and updates regarding different or new products and services solely from the mediums such as TV, radio, newspaper etc. and the abolishment of using any of these mediums clearly points out that the companies are losing this segment. The authors further claim that the ease and flexibility that social media marketing channels provide is commendable but this large segment of people who can be potential customers must also not be forgotten. As the authors have concluded, a balance is the most appropriate strategy that companies can adopted in order to enhance the overall sales and reach of their products towards the customers. Impact of social media marketing on buying behaviour of the customers Another research paper that is published by theZhang and Mao (2016), the customers have increasingly become more inclined towards the use of such social media marketing websites and platforms. The recent years has seen the development of the social media platforms not just as the communication platforms as they were earlier perceived to be, but it has also evolved into a better marketing platform. The consumers have been found to be positively influenced by the different advertisements that they see or the trends that are being followed etc. Additionally, it has also been identified that the majority of teenage consumers and the middle aged consumers have become interestingly active on such social media platforms and these two segments being 4
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the most targeted segments, the companies have increasingly been using this for the purpose of marketing. He rating s of the companies have improved and the customer engagement level and techniques that are being adopted has also simplified immensely by the use of such social media marketing platforms. On the contrary, the research paper byHanaysha (2018), clarifies that the customer has become unreliable due to such social media marketing techniques. They state that the inclination of the customer has indeed shifted towards these online and social platforms but yet the easy availability of the multiple numbers of options has made the customer non- committal i.e. a company can no longer relay that if a customer is interested in any product or activity then they are going to claim it for sure. The authors have further declared that the overall involvement of the customers has also declined and the loyalty or commitment that they used to have towards any particular brand is also declining where they tend to go for pricing with quality approach rather than just quality or just pricing. Challenges that arise in social media marketing In order to identify and analyse the different challenges that can arise in the establishment of the practices of social media marketing, theLim and et.al. (2017),have conducted a detailed research on all such challenges. The major challenge is to gain the customer loyalty towards the company where there are a multitude of the competitive products that they can easily access. This widens the scope at which the customers can access the products and therefore, returning back of the customers through this medium gets very difficult. Another major challenge is the fact that the local companies who are not so adept in the marketing skills and strategies that can be adopted, are regularly losing their market share to the bigger companies and this is not a good aspect of the economy. In addition to the point above, theLou and Yuan (2019), also quote additionally that the tapping of the customer’s desire in a correct manner was already challenging enough for the companies where they had to innovate their products regularly, but now the need for innovative marketing has also arisen. The increased competition and ease of imitating the strategies that are being used is one of the major challenges that are faced by companies during the social media marketing strategies. In addition to this, the challenge of targeting and occupying the customer segment who is still dependent on the traditional media marketing platforms acts an another major barrier because the traditional media usually requires more investment and expenditure, 5
which might not be possible for the smaller owners and entrepreneurs. The authors have argued that this makes them devoid of a major segment of the public as TV advertisements and newspaper advertisements are the most common source of getting any potential customer’s attention. Hence the authors have concluded that the challenges that arise in the social media marketing platforms are also numerous and immense. RESEARCH METHODOLOGY Research methodology helps in the analysis of the various tools and techniques that can be used by the researcher in order to conduct the intended research comprehensively. For the current research this can be done in a following manner: Research Type: There can be two broad classification in which the research that has been undertakeni.e.thequalitativeandquantitativeresearch.Quantitativeresearchis associated with the analysis of numerical figures and the qualitative research analyses the different facts and theories that exits (Page and et.al., 2017). In the current research, the researcher has used the qualitative research aspect as the analysis is on the impact that social media marketing has on the buying behaviour of the consumers. This will help in analysis of different facts and aspects of the research so that a comprehensive analysis and findings can be presented. Data Collection: Data can be collected in the primary and the secondary manner where the primary data is collected by the researcher themselves i.e. the original data is collected in this aspect. Contrarily, in secondary research, data is collected from the research papers, articles, journals or case studies that have already been published previously by other authors (Cuervo‐Cazurra and et.al., 2017). In the current research, only secondary data analysis has been done in the form of literature review so that a comprehensive analysis could be presented where the different aspects related to the impact of social media marketing on the customers could be ascertained adequately. Ethical Consideration: The researcher has complied with all the ethical norms by attaching a declaration form that clearly states that the work of research that has been carriedoutisanoriginalpieceofworkpresentedbytheresearcherthemselves. Additionally it will also be stated that all the secondary references have been made only after the prior approval of the authors regarding their use in the research (Basias and Pollalis, 2018). The citations have been given to the places wherever the secondary 6
reference has been made so that the readers can ascertain that the view presented is by other authors. Research Limitations: Due to the lack of adequate time and resources, the research could not be conducted in extreme depth and the primary research also could not be performed (King and Mackey, 2016). Another major limitation is that the quantitative research could also have been undertaken generating more specific results but even in the qualitative research that has been undertaken; the analysis has been done in a detailed and comprehensive manner. ANALYSIS AND FINDINGS The literature review done above points out that there are multiple aspects related to the impact that social media marketing has on the buying behaviour of the customers. First of all it was identified that the social media and its use has increased in multi folds in the previous years and the companies have increasingly been focusing on the marketing through this medium (Khatib, 2016). It was also analysed that the consumers are increasingly preferring shopping through these social media platforms and the impact in their buying behaviour has been positive. However, the research also identified that due to this advent in the social media marketing, the customers that could have been attracted through the traditional media are being lost slowly and this signifies the loss of a prominent market share (Madhuhansi, 2019). CONCLUSION AND RECOMMENDATIONS On the basis of the research done above, it can be adequately concluded that the impact of social media marketing on the buying behaviour of the consumers is indeed positive and the companies are taking best advantages of such platforms by using rigorous strategies for marketing and promotional activities. It was also concluded that there were some negative aspects and impact as well that is associated with the social media marketing and this is in the form of those customers who are acquainted with the use oftraditional marketing media only. Based on the conclusions that were drawn and findings, there are certain recommendations that can be made in the context of social media marketing: The companies should strive towards attaining a proper balance between the traditional and social media marketing channels so that an appropriate mix of consumers can be targeted accordingly. This depends on the company regarding the proposition which they should invest in the traditional marketing and the part which should be invested on the social media marketing. 7
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Innovation and creativity is the key behind attracting the eye of the consumer, the trends should be followed by the companies should always strive to present something new and innovative to the public. 8
REFERENCES Books and Journals Basias, N. and Pollalis, Y., 2018. Quantitative and qualitative research in business & technology: Justifyingasuitableresearchmethodology.ReviewofIntegrativeBusinessand Economics Research.7. pp.91-105. Cuervo‐Cazurra, A., and et.al., 2017. Research methodology in global strategy research.Global Strategy Journal.7(3). pp.233-240. Hanaysha, J.R., 2018. An examination of the factors affecting consumer’s purchase decision in the Malaysian retail market.PSU Research Review. Khatib, F., 2016. The impact of social media characteristics on purchase decision empirical study of Saudi customers in Aseer Region.International Journal of Business and Social Science.7(4). pp.41-50. King, K.A. and Mackey, A., 2016. Research methodology in second language studies: Trends, concerns, and new directions.The Modern Language Journal.100(S1). pp.209-227. Lim, X.J., and et.al., 2017. The impact of social media influencers on purchase intention and the mediation effect of customer attitude.Asian Journal of Business Research.7(2). pp.19- 36. Lou, C. and Yuan, S., 2019. Influencer marketing: how message value and credibility affect consumertrustofbrandedcontentonsocialmedia.JournalofInteractive Advertising.19(1). pp.58-73. Madhuhansi, W.T., 2019. Impact of Social Media Characteristics on Consumer Buying Decision Process in Western Province, Sri Lanka.Global Journal of Management And Business Research. Page, D., and et.al., 2017. Optimising early neonatal nutrition using translational research methodology.Nutrition & Dietetics.74(5). pp.460-470. Saboo, A.R., Kumar, V. and Ramani, G., 2016. Evaluating the impact of social media activities on human brand sales.International Journal of Research in Marketing.33(3). pp.524- 541. Sudha, M. and Sheena, K., 2017. Impact of influencers in consumer decision process: the fashion industry.SCMS Journal of Indian Management.14(3). pp.14-30. 9
Zhang, J. and Mao, E., 2016. From online motivations to ad clicks and to behavioral intentions: An empirical study of consumer response to social media advertising.Psychology & Marketing.33(3). pp.155-164. 10