Effect of Social Media on Marketing: A Literature Review
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This literature review explores the impact of social media on marketing, with a focus on the positive and negative effects. The study uses Marks & Spencer as a case study and discusses the research methodology used.
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Contents Contents...........................................................................................................................................2 INTRODUCTION...........................................................................................................................1 LITERATURE REVIEW................................................................................................................1 RESEARCH METHODOLOGY....................................................................................................2 CONCLUSION................................................................................................................................4 REFERENCES................................................................................................................................6
INTRODUCTION Social media termed to defined as technological advancement base on computer which is facilitating the idea sharing, thoughts, and building information by virtual network. This have affected the business productivity and profitability in changing environment.While running a business social media became an opportunity to grow the business by increasing the customer base as it helps to provide details regarding specific products and services.In other words, internet-based form of communication that is used by individual to share knowledge with each other and support accomplishing organizational goals(Băeşu, and Bejinaru, 2020) is considered as social media.The platform of social media is Facebook, Instagram, Snapshot etc. The current topic of research is effect of social media on marketing that support to influence the number of people and getting work done. To understand about current topic Marks & Spencer has been selected that is major British Retailer with headquarters in London. The report covers literature, positive effective, negative effect, and research methodology. LITERATURE REVIEW Societal mass media is the internet-based form of communicationthat allows individuals to create content, share information, conversant with others, and manage activities.The aim of a business organization is to grow their business by influencing a number of customers and attracting them as well. The environment is changing and people is becoming busier where it became difficult to visit the store and select the products. Nowadays, people using mobile phones and other electronic items to know about specific brands and industries that can help to make buying decisions. Social media is the use of social media platform to build brands, interacts with customers, drive websites, and increase sales in changing environment. This could help toripen the organizational performance and productivity byhandling all functions as well as activities. Without marketing it becomes difficult for the company to influence people and regulate the business (Love, and Matthews, 2019). There is a different platform of social media such as Facebook, Instagram, Snapshots, Twitter, and others that are used by business organizations for the purpose of influencing number of people via providing details of products and services. The platforms are fruitful to share the information and details that encouraged people to place an order online resulting increase organizational sales. The people belongs to different country and region where social media is 1
the effective source to keep connected with their friends and select the right products. In relation to Marks & Spencer, social media tools are used by management to reach the targeted audience and develop organizational sales. This could help to increase the business sales and profitability invaryingsurroundingsandconqueringhigherperformance.Themanagementofsuch organization understand the needs of theirpatronsand offer kind of products as well as services which can help to increaseadministrative profits(Orji, 2019). The social media has impacted positively as well as negatively on marketing that might be create the challenges for organizations to operate their business. This is important for industry to analysis the market and use social media to reach targeted customers. The positive effective of social media on marketing isto fascinate customers,get purchaser feedback,build customer loyalty,rise revenues, develop the brand, and reduce marketing cost which is beneficial for Marks &Spencer as well as other companies to build up organizational performance The other advantage of social media is to fill the customer demand by knowing needs and wants that supported to grow the business effectively. Oppositely, social media effects negatively on marketing as it creates the security and privacy-related issues that could reduce the sales and customer base of organization. As people wants security and privacy when visiting stores and buying something because it contains personal details while delivering the products where breach of security is possible by internet hackers. Moreover, to manage the customer query via online method could be ineffective that affect organizational productivity. According to (Steininger, 2019)90% of marketers uses their social media to increase the business exposure for business and developed their productivity effectively. To operate a business successfully use of social media as marketing is becoming more important and essential because it creates a relationship with customers by attracting to specific products or services. For example, Marks & Spencer is the larger retailer, when Covid-19 occurred in the whole world government stopped the all businesses for the next updates where use of social media became a good source to reach their customers and increase sales. The companies are using different platform of social media to reach their targeted customers and encouraged the industrial sales. The management also analysed the market to attain competitive advantages by offering new products as well as services. 2
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RESEARCH METHODOLOGY Research methodology is the study of topic given by individuals and senior to develop their understanding and knowledge specifically. This is important for each individual to conduct the analysis by receiving a topic as it can help to manage and arranging the all activities. The methodology in relation to effect of social media on marketing is defined below: Research Philosophy –This is the involvement of principles and activities which is decided by an individual to collect the information and managing the data properly. This is important for person to conduct the analysis and make right decision. Interpretivism and positivism are two philosophiesthatareusedtocollectingtheinformation.Incontexttocurrentstudy, Interpretivism philosophy is being used to develop their knowledge effectively which explains social media is impacting positively on marketing (Tekic, and Koroteev, 2019). Research Approach –Research approach is the involvement of planning and procedure which is formulated for the purpose of developing their knowledge. The planning is important to managing the data properly. Inductive and deductive are two approaches which are used to complete the study timely. In relation to current research, the deductive approach is being used by a researcher that helps to know about marketing and its importance by using social media. Research Strategy –The research strategy showcases the planning that is being prepared by individuals in order to develop their study and manage all activities.A step by step plan which is directed to individual for the purpose of conducting research and managing all functions systematically.This is important for individual to analysis the environment and develop the productivity. The strategies of research are an experiment, survey, action research, case study and grounded theory that are used to manage all functions. In relation to current research, action research is selectedby researcher to completetheir study and manage the all functions (Wiesböck, and Hess, 2020). Researchdesign–Thiscouldbeexplainedasframeworkofresearchmethodand techniques selected by individual for the purpose of arranging information and data. The design of research include descriptive, and experiment that are followed to complete their study. In relation to descriptive design is being used by researcher to manage and arrange the data properly. Choices of method– This is powerful research marketing tool works by simulating real life condition and influencing a number of people that supports to complete the task. This involves 3
mono, mixed, and multi-methods to conduct the study and bring new aspects to improve the knowledge and skills effectively. In relation to current research, mono method is used by researcher to improve their skills and knowledge regarding social media marketing that can help to develop the organizational performance (Popkova, and Gulzat, 2019). Time horizon –This could beexplicatedasperiod schedulewhich is formulated byscholar to understand task and complete them within a certain time period. Time horizon is the period where investment is held in case of need and fulfilled by an individual by completing the task effectively. If all functions and activities are done in a perfect manner then could be opportunity togrowthebusinessandattainhigherperformance.Thisinvolvescross-sectionaland longitudinal horizon. In relation to current research, cross-sectional horizon is used by researcher to complete their study. Data analysis and collection– This means technique and procedure which is used to collect data from different point of view by analysing environment and market. In other words, data collection is the procedure of collecting, measuring, and analysing the accurate insights that can help to develop the business functions and activities. The technique of data collection is quantitative and qualitative. In relation to current research quantitative technique is used by researcher to analysis the topic clearly. CONCLUSION From the report it can be concludedthat social media termed to platform which is used by individual to connect with people, sharing information, and targeting the customers for the purpose of developing business performance and productivity.The Interpretivism and deductive approach is used by research to complete their study and attain the higher performance. 4
REFERENCES Books and journals Băeşu, C. and Bejinaru, R., 2020, July. Knowledge management strategies for leadership in the digital business environment. InProceedings of the International Conference on Business Excellence(Vol. 14, No. 1, pp. 646-656). Love, P.E. and Matthews, J., 2019. The ‘how’of benefits management for digital technology: From engineering to asset management.Automation in Construction.107. p.102930. Orji, C.I., 2019. Digital business transformation: towards an integrated capability framework for digitizationandbusinessvaluegeneration.JournalofGlobalBusinessand Technology.15(1). pp.47-57. Popkova, E.G. and Gulzat, K., 2019, May. Technological revolution in the 21 st century: digital societyvs.artificialintelligence.InInstituteofScientificCommunications Conference(pp. 339-345). Springer, Cham. Steininger, D.M., 2019. Linking information systems and entrepreneurship: A review and agenda for IT‐associated and digital entrepreneurship research.Information Systems Journal. 29(2). pp.363-407. Tekic, Z. and Koroteev, D., 2019. From disruptively digital to proudly analog: A holistic typology of digital transformation strategies.Business Horizons.62(6). pp.683-693. Wiesböck, F. and Hess, T., 2020. Digital innovations.Electronic Markets.30(1). pp.75-86. (Băeşu, and Bejinaru, 2020) (Love, and Matthews, 2019)(Orji, 2019)(Popkova, and Gulzat, 2019)(Steininger, 2019)(Tekic, and Koroteev, 2019)(Wiesböck, and Hess, 2020) 5