Table of Contents PART 1: Research Design Proposal................................................................................................4 TITLE:.............................................................................................................................................4 Chapter 1 : Introduction...................................................................................................................4 Rationale of Research.................................................................................................................4 Research Aim..............................................................................................................................4 Research Objectives....................................................................................................................5 Research Questions.....................................................................................................................5 Significance of Research.............................................................................................................5 Chapter 2: Research Methodology...................................................................................................5 Chapter 3: Data Analysis.................................................................................................................9 Chapter 4: Ethics, Values, Referencing and Presentation..............................................................10 PART 2: LITERATURE REVIEW...............................................................................................11 Chapter 1: Literature Review Introduction....................................................................................11 Chapter 2: Literature Review Main Body......................................................................................11 Different Social media marketing strategies.............................................................................11 Impact of social media on sales and revenue............................................................................13 Challenges of social media marketing......................................................................................14 Chapter 3: Literature Review Conclusion......................................................................................15 REFERENCES..............................................................................................................................17
PART 1: Research Design Proposal TITLE: Impact of social media marketing on sales and revenue of the organisation. A study on Vodafone PLC. Chapter 1 : Introduction In current market, there are many changes which are taking place in current market because if managers want to perform operations as per external policies. With understanding and determining that changes are required in external market, there will change in business activities as well (Chaffey, Hemphill and Edmundson-Bird, 2019). Thesedays,therewilluseofinformationwhichisspecificandappropriateto understand changes properly. If actions are conducted to determine actions, then it will not be easy for people to understand policies properly. These days, there is requirement of complete and specific information about ways through which marketing can be done. Social media marketing is one of the best and specific way to complete the task. There is requirement of policies with which organisation can do marketing properly(Lou and Alhabash, 2018). This study is based on Vodafone PLC which is one of the best tele- communication organisation having head quarter in UK. This association is using social media for marketing purpose and they have positive impact on its sales and revenue. Rationale of Research The main purpose behind conducting this present research which is based on social media marketing is to analyse how it affects sales and revenue rate of a company. Through this process, researchers can enhance their concept on importance of marketing strategies and the way social media influence purchasing behaviour of people. To conduct this project, they will get opportunity to sharpen their research skills, that helps in completing future assignment more efficiently. Research Aim To determine the impact of social media marketing on sales and revenue of the organisation. A study on Vodafone PLC.
Research Objectives ď‚·To study the different social media marketing strategies. ď‚·To determine the impact of social media on sales and revenue of Vodafone PLC. ď‚·To evaluate the challenges that arise in social media marketing of Vodafone PLC. Research Questions ď‚·What are the different social media marketing strategies? ď‚·What is the impact of social media on sales and revenue of the Vodafone PLC? ď‚·What are the challenges that arise in social media marketing of Vodafone PLC? Significance of Research Throughthisresearch,roleofsocialmediainmarketingabusinesscanbe determined, with its impact on sales and revenue. This would help researchers in recommending better strategies to chosen company, for selecting best channels for increasing accessibility of business. Chapter 2: Research Methodology Introduction Research methodology is a specific technique and method used by researchers to identify, select process and analyse all the relevant data and information related to particular topic(Chaffey and Ellis-Chadwick, 2019). This section allows and gives proper understanding to reader about the overall study, its reliability and validity. This section is conducted in order to provide thorough information to reader about the sources from which all the data present in report is collected and the process and ways by which it is analysed and evaluated. This research is conducted on the qualitative data which is based on the numbers, figures and graphs(Zaki, 2019). In this report research onion tool is used to understand different aspects of research methodology and provide more elaborative and descriptive information. Research onion framework is used which has several layers containing various factors. This model starts from outer layer moving towards the inner layer of the research onion. Research onion tool was developed and established by Saunders in 2007, describing different stages by which a researcher passes while conducting and
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developing an effective methodology. All various layers of research onion are described and elaborated below in next section: (Source: RESEARCH METHODOLOGY, 2020) Research Philosophy This is the first and the outer most layer of research onion known as research philosophy, which is based on the set beliefs and concerning about the nature of investigation(MisirlisandVlachopoulou,2018).Researchphilosophycandiffer according to the goals, aims and objectives of research and the best method of philosophy is used to achieve and obtain all prescribed goals and objectives. There are three main philosophies, which can be use by researchers, ontology, epistemology and axiology. Ontology is basically a study of reality, describing the nature and of the situation(Guha, Harrigan and Soutar, 2018). Epistemology is mostly used in scientific research which helps investigators in finding that is authentic and depends on facts. Axiologyenablesresearcherstounderstandvaluablesandopinionsimpactsthe collection and analysing the data of research. This philosophy is used in this research Illustration1: RESEARCH METHODOLOGY, 2020
by the investigator as it helped them to collect all appropriate data which enables them in providing proper results and attaining research objectives. Research Approach This refers to the research approaches which are taken by the investigator or researcher for conducting their study. This is the next step of research onion which generally have classified in two broad categories deductive approach and inductive approach. Deductive approach develops the hypothesis upon pre-existing theories and formulates research approaches and plans(Olofsson, Hoveskog and Halila, 2018). Deductive approach use questionnaires to develop understanding of the observations allows researcher to compare different data and understanding gathered from empirical data. Deductive approach can be used for conducting qualitative research, the only difference will be that in this case the expectations formed from pre-existing information will be formulated differently than hypothesis testing. Inductive approach allows the investigator to create a theory based on the situation rather than using pre-existing one like in deductive approach(Petrini, 2019). This is the most basic and clear difference between the two approaches. This approach is used in qualitative techniques as it moves from specific to general data. No framework is used while following and adopting this approach and this is the point at which new theories are developed. Inductive approachisusedbytheresearcherforconductingthisresearcheffectivelyand efficiently as only secondary approach and data is used. Research Strategy The research strategy for the research is the case study approach with the use of survey and questionnaires. Research strategy is geared towards a single contextual setting and it describes how the researcher or investigators are intended to carry out work(Onyijen, Awoleye and Olaposi, 2019). This research strategy can include number of approaches which are experimental research, action research, case study, interviews and systematic literature review. Experimental research strategy refers to the creating and developing research process that examines the results of experiment against the expected results. It is useful in all areas of research and involves few factors of consideration. Case study strategy focuses on one or more people and on a single area. It offers an insight into specific nature of any situation and establish importance of
culture and context in difference between various cases(Kapoor and et. al., 2018). Casestudyresearchisveryeffectiveandusefulinfinancialresearchsuchas comparing the experiences of two companies and comparing the effects of investments in difference contexts. Action research is very commonly used in professions and as teaching and nursing where the investigator can assess way by which they can improve their professional approaches and understandings. This strategy is used mainly to find a solution and several problems can be solved through this approach. Research Choice It is the mixed method which is useful in the qualitative approach in order to conduct the research which is consistent with the realist research philosophy(Nisar, Prabhakar and Patil, 2018). It is the deductive research approach which is used in the secondary research in order to form the questionnaire which is based on the interaction of the research. It is completed with the use of secondary research with the proper questionnaire. The researcher will include the knowledge of the social media activities of Vodafone. It is the mixed approach which is useful in order to provide the set of results and analyse the combination between the qualitative and quantitative research. Data Collection methods Datacollectionmethodsputemphasisonthevariousbasictechniques.It includes two basic methods which are primary and secondary and both focus on the qualitativeandquantitativedata(Chaffey,HemphillandEdmundson-Bird,2019). Primary research includes exact and original findings which is collected by using the number of tools such as self-questionnaire, interview, GD, examination and analysing etc. To conduct research, it is determined that how social media affect Vodafone and its structure and it is positively managed by using the questionnaire methods which is used in order to collect the primary information. On the other side, secondary data refers to that data which is collected by the researcher and provide the vision of the research area of the present methodologies(Lou and Alhabash, 2018). It creates research gap which needs to be fulfilled by the researcher. This data source could be carry in the form of internal and external information which cover wide range of areas. In secondary informationexternalsourcesareusedlikenewspaper,media,magazines,online websites, books and journals etc. In this research, secondary data is used in order to
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collect information about the social media because it carry huge amount of information and knowledge which is provided on the online sources. Research Limitations Thebiggestresearchlimitationofthisstudyisthatsecondaryresearchis considered in to collect information and data. Because of using this, research has limited areas in order to collect information as here sufficient data is available on the official website of company and other related reports(Chaffey and Ellis-Chadwick, 2019). Here the researcher does not have the access of company's website in order to collect information and data as some data is kept confidential and secret by the company as it is not publicly provided by them. The researcher was impacted by identifyingthequestionnaireoftherespondentsinordertoconvenienceforthe sampling approach as it provide mitigation to the issues. For the capability of the researcher they include a huge size of sample for their secondary research which limits the time for the completion in which the researcher has sufficient time to carry out its research activities. Research Design This is considered as set of different methods as well as procedures which are used for collecting or gathering and evaluating measures specified in the research problems. There are mainly five research designs which are used by investigator and theyare,descriptive,correlation,experimental,experimental,reviewandnon- experimental(Zaki, 2019). In this research descriptive research design is used by the researcher in which they conduct and analyse several case study and surveys. Chapter 3: Data Analysis It is a process which is used in systematically application of statistical techniques in order to describe and evaluate the data. It is used in order to reduce the lump of data into small sections which is valuable. Researches are based on the data as they have factual information in order to solve the problem and the data is the answer of each and every question(Misirlis and Vlachopoulou, 2018). In this research qualitative is taken which carry statistical procedure, facts and figures in which the data is continuously gathered and examined almost at the same time. It considers the pattern which is used in order to observe and analyse the pattern of research.
Chapter 4: Ethics, Values, Referencing and Presentation Research ethics are the morale principles of researches which is used in order to examine the right and wrong thing about the practices of research. There are various ethical elements which are important in the views of researcher in order to conduct a research(Guha, Harrigan and Soutar, 2018). It describes that researcher need to keep theinformationconfidentialandsecretwhichisconcernedwiththeresearch, respondents and other members. This needs to be done because that data includes huge personal information which can be misused by other person which comes under illegal actions. In addition to this, the researcher always need to keep various rules and regulations at the time of collecting data as they will not hurt the emotions of any individual and helpful in neglecting legal actions.
PART 2: LITERATURE REVIEW Chapter 1: Literature Review Introduction It is a document which include the current knowledge including the useful findings, theoretical and contribution of methodologies to the specific topic and it is the basis of the research(Olofsson, Hoveskog and Halila, 2018). It purpose is to show the specific reader that researcher read and also concerned about the specific topic and question based on the particular field. It is done in any sort of format include various online sources. It is significant to consider that review should not be only the description about the summary but it also includes the form of critical discussion which show the vision and awareness of various arguments, concepts and approaches. It is used in analysing the appropriate published work. For this, the researcher need to identify that what they should read(Petrini, 2019).In order to write the literature review, a researcher should include a clear introduction about the topic like outline of it with a brief. They need to specify the clear connection between the researcher's own arguments and the evidence which are hidden in reading. This review should be written in the formal and academic style. It is important to conduct literature review as it define and limit the research, neglect irrelevant duplication, evaluate promising research methods and also relate the findings to the past knowledge and provide some suggestions for further research. This section of research defines and carry the comprehensive study of social media which is collected by the researcher. It is helpful in concluding the secondary data in order to analyse and overcome the research problems. Chapter 2: Literature Review Main Body Different Social media marketing strategies According to Murray Newlands (2017), it has been evaluated that social media in today’s digitalised world, considered as the most crucial platform for companies, for marketing their brands (Ten Social Media Marketing Strategies for Companies, 2017). It provides a number of channels for firms in establishing brands and create awareness amongpeopleaboutproductsandservices.Thiswouldalsohelpininfluencing purchasing behaviour of people also(Onyijen, Awoleye and Olaposi, 2019). In context
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with Vodafone, as this firm deals in multinational telecommunication sector, where competitionisalreadymuchintense.Currentlyitrunsbusinessinmorethan25 countries, with partnership business within 47 nations. So, it has a strong brand image among customers, at both global and domestic level. But due to intense competition, people are mostly concerned to purchase services of those companies who offered them talk-time and internet services on effective plans(Kapoor and et. al., 2018). Therefore, it becomes essential for this firm to adopt the digital marketing strategy for enhancing its number of mobile customers and influencing purchasing behaviour of them. For this purpose, a unique set of skills are required to develop social media strategy,wherebymanagementofVodafonerequirestoidentifytheneedsofits targeted audience first. Some social media strategies are given as below – Create the personalised experience for customers –Integrating Chatbots in marketing strategy, will provide a great way to Vodafone in creating better personalised experience for its targeted audience (Nisar, Prabhakar and Patil, 2018). This would help in solving customer related problems and creating ads thatredirectthemtowardsmessengerwindowwithchatbot.Itwillhelpin creating the loyal fan base and boosting sales more effectively. Create efficient and attractive marketing strategy –As quality of content considerasthemainkeyofsocialmediamarketing,so,managementof Vodafone needs to create proper content on digital channels. Along with this, it also required to post the matter at right schedule, which help in reaching towards right customers more efficiently. Utilising the brand advocated –making a strong brand image among targeted audience considers as the best promotional for marketing the business. For this purpose, social media guidelines is needed to be developed by management of Vodafone (Zaki, 2019). In addition to this, add leaders under each and every section of advocacy plan on social media platform. Furthermore, for better creation of brand image, track the data which is doing well is also proves beneficial for improvement. Create profiles on relevant channels –Creating profile on best social media channels like Instagram, Linked In and more, also consider as effective tool for
marketing business among customers. In this regard, Vodafone also required to select those channels where it can reach towards targeted audience more easily. Impact of social media on sales and revenue According to Mohammad Abdullah (2017), it has identified that in today’s digital era, social media provides a best platform to organisations in connecting with its customers(Impact of social media on Sales. 2017). It helps firms in identifying how business of them is perceived by its targeted audience, including their perception about competitors’productsandservices.Thisprospectushelpsinmakingnecessary changes in own business strategy to enhance sales more effectively(Chaffey, Hemphill and Edmundson-Bird, 2019). As sales plays the crucial role in generating revenues, therefore, to enhance sales and reach targeted audience, Vodafone needs to create effective social media marketing strategy. In this regard, choosing right channels of social media, management of respective firm can identify preference of customers and engage them in business by bringing awareness about new exciting offers and mobile plans. For enhancing sales and revenue, social media give opportunity to firms to build effective relationship with targeted audience and influence them more easily towards products and services. This would help in enhancing sales volume and generating high revenue more easily, that leads to increase market share as well(Lou and Alhabash, 2018). Direct sales via social media channels, is another main advantage of digital marketing strategy, where it becomes easy for organisations in introducing their new products and services in short period of time. While traditional concepts like offline channels requires more money and cost to marketing business among large audience, that affect profitability ratio as well(How Social Media Marketing Influence Revenue For The Companies, 2020). Therefore, adopting the direct sales strategy, will possibly work for Vodafone in getting countless sales and achieving corporate goals which is to becomelargesttelecommunicationfirmatworldwidelevel.Similarly,creatinga relocatable identity of brand on the platform of social media is also considered as successful technique for Vodafone, which can prompt the direct increment in volume of sales(Chaffey and Ellis-Chadwick, 2019). Thus, it has been evaluated that social media
increase potential of business to create a loyal customer base and increase capacity of business, to achieve its goals. Challenges of social media marketing According to Vandita Grover (2019), it has been evaluated that Social media has become the most popular channel for companies in marketing their business and reach towardstargetaudienceinshortspanoftime(3NewSocialMediaMarketing Challenges to Overcome in 2019,2019). Through adopting a social media marketing strategy, a company can face a number of benefits like, investing less capital to promote new product or service among customers as compared to traditional process of marketing; better focused on branding the business to build an effective customer base; develop competencies of business to meet demand of marketplace which helps in earning high competitive advantage as well, etc.But apart from various benefits, social media which includes itself with a unique set of challenges, arise various issues in front of a company(Misirlis and Vlachopoulou, 2018). In this regard, some challenges that might marketers of Vodafone can face while implementing social media marketing strategy are given as below – Building trust and transparency –The disclosure of business data on social media platforms, related to company’s strategy, failure in tailoring with needs with some customers etc. considered as the major disadvantage part of social media(Guha, Harrigan and Soutar, 2018). It creates a threat for organisations including Vodafone, to optimise social media channels for marketing business. In this regard, spreading negative rumours about product quality and services, among targeted audience on online platform, arise difficulties in recreating the trust and gain loyalty of them. For this purpose, it becomes essential for firms to deliver consistent as well as high-value of content at online platform, so that positive perspective of business among customers can be maintained. Balance the privacy and privatisation –Personalising the social content and maintain privacy of each personal interaction with customers is another main difficulty, in front of organisation while making connection with online customers (Olofsson, Hoveskog and Halila, 2018). It also arises threat for companies, to ensure that privacy of each customer is maintained. Therefore, marketers of
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Vodafone needs to give control to targeted audience over who can collect their personalisedata.Whilemakinginteractionwiththem,marketersarealso required to take decisions about how to gather consent of online customers. Along with this, focusing on quality data despite of purchasing third-party data willalsohelpVodafoneinprovidingqualitypersonalisedexperiencetoits audience. Pricy social adds –It is another main challenge that organisations who used social media platform for marketing business, are faced for maintaining their visibility within overcrowded social feeds(Petrini, 2019). Hereby, using filtering or any other kind of advertisement blocking rise cost and limited the ROI for paid adverting. Therefore, to boost quality of organic content, managers of Vodafone requires to monitor social media adds in real time and must take the corrective measures. Chapter 3: Literature Review Conclusion It has been concluded from this literature review that social media marketing strategy provides the fabulous platform to companies for connecting with domestic and international customers in easy and effective manner. It provides a number of strategic tools to understand preference of people and connect them with business of a company for long period. Social media provides a platform with numerous benefits including reachingthetargetedaudiencefromvariousgeographicallocationsaswellas influencing their purchasing behaviour. Through this process, it becomes easy for companies to enhance their sales volume and generate high return on investment for enhancing profitability. Social media also enhance potential of companies, in raising their voice to make effective communication with customers and build trust with them. This would help in earning loyalty of them to retain with business for long period of time. Along with this, as compared to traditional methods of marketing like television, radio, newspapers etc., social media also helps in bringing awareness among large population about brands, timely offers and others, to enhance sales volume. In developing the marketing plans, management of a company can utilise social media channels in identifying the competitors’ strategies for attracting the customers. Along with this, identifying needs of customers including their purchasing behaviour,
also enables firms to tailor demands of them, in most efficient manner, for enhancing sales volume. Therefore, from all over the discussion, it has been summarised that social media plays vital role in increasing accessibility of business that ultimately, leads to raise sales and revenue in desired way.
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