Report - Impact Of Social Media on Consumer Behavior
Added on 2020-02-03
26 Pages5380 Words857 Views
Professional Development
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RESEARCH PROJECT
Table of ContentsPart A.................................................................................................................................4Title: Does social media affect consumer choices?.......................................................41. Introduction................................................................................................................41.1 Research background..........................................................................................41.2 Research rationale...............................................................................................41.3 Research aim.......................................................................................................41.4 Research objectives.............................................................................................41.5 Research questions..............................................................................................51.6 Project outline.......................................................................................................52. Literature survey........................................................................................................62.1 Customer choice models......................................................................................62.2 Social media marketing models...........................................................................62.3 Interrelationship of social media and customer choice........................................82.4 Effect of social media on customer choice...........................................................82.5 Conceptual framework.........................................................................................93. Methodology.............................................................................................................103.1 Investigation type...............................................................................................103.2 Data collection techniques.................................................................................103.3 Sample size........................................................................................................103.4 Data analysis plan..............................................................................................103.5 Ethical issues......................................................................................................114. Estimated outcomes of the project..........................................................................12Part B...............................................................................................................................135. Data analysis............................................................................................................13
6. Recommendation and conclusion............................................................................206.1 Conclusion..........................................................................................................206.2 Linking with objectives........................................................................................206.3 Recommendations.............................................................................................216.4 Limitations..........................................................................................................216.5 Future prospects of the study.............................................................................22References.......................................................................................................................23Appendices......................................................................................................................25
Part ATitle: Does social media affect consumer choices?1. IntroductionIn this section of the research, the researcher tries to set up a base of understandingthat is crucial to conduct the research. The research aims, objectives, questions andconceptual framework project the way the research would be conducted.1.1 Research backgroundThe customers are responsible for driving the various industries and the needs drive thecustomers. They are responsible for profiting the industry by generating revenue whilethe industry is responsible for providing a satisfactory service in return for thetransactions. Hence, bot consumers and industries are mutually dependent upon eachother. Media has been acting as a platform for a long time in order to bring the twoelements of the market together. With recent technological developments, there hasbeen the craze of social medias which are web based platforms of media andmarketing. Thus, social media can be stipulated to have a high impact on the consumerbehaviour.1.2 Research rationaleThe growth of social media has opened up newer ways for industries to understandtheir customers better and since social media is the most commonly used platformnowaday, their influences on the consumers are the main issue. The social media havethe potentiality to be used as mind control tools which can disrupt the fairness of themarket and hence it has been developed as the issue now, 1.3 Research aimThe aim of the research is to understand the effect of social media on consumerchoices.1.4 Research objectives●To understand the concept customer choice●To understand the concept of social media●To establish a relation between customer choice and social media●To provide recommendations and suggestion to increase or decrease the effectof social media on customer choices
1.5 Research questions●What is the concept of customer choice?●What is the concept of social media?●What is the relationship between social media and customer choice?●What recommendations can be suggested to increase or decrease the effect ofsocial media on customer choices?1.6 Project outlineFigure 1.1: Project outline(Source: Researcher)
2. Literature survey2.1 Customer choice modelsThe consumer's buying decisions are based on five primary decision making and theyare recognising needs, searching information, evaluating alternatives, making purchasedecisions and past buying behaviour. This model is unconsciously used by all theconsumers irrespective of the commodity they desire to buy and is influenced byexperiences and identity (Aral et al. 2013, p.7). The most common models of customerchoice are an economic model, passive model, cognitive model and emotional model. Inthe economic model consumers, the decision is rational and economic. They strictlyadhere to the five processes mentioned above. They review all the information availablein order to select products and compare its features to the alternatives in order toidentify the benefits of the selected products and thus make a logical decision.In the passive model, consumers act on impulses and are manipulated effectively by thebusiness organisations by efficient promoting and marketing. The buying decisions areweighed on the basis of want rather than need and this information is exploited byorganisations to appeal to customer’s emotion and lure them to impulsively buyproducts and services. According to Ngai et al. (2015, p.34), in the cognitive model, theconsumers buying decisions is a step to conduct problem-solving and this model is amix of the economic and passive model. They are attracted by the value of the deal. Inthe emotional model, the consumers buying behaviour is based on emotions and in thiscase, the price and value of the deal are not much important. These commodities aretied to the emotional requirements of the customers and hence the choice is basicallydependent upon emotions in such cases.2.2 Social media marketing modelsMainly three models that can be used in social media marketing are namely the socialstaircase, social tool matrix and social viral spiral.Social staircase This model focuses on the overallprogramme of the organisation. The firststep in the staircase is developing andestablishing a strategy that can supportthe business organisation. The next is
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