Analysis of Social Media Impact on Business

The provided assignment is a detailed study of the impact of social media on businesses. It involves analyzing various research papers and articles to understand how social media affects different aspects of business operations, such as resource mobilization, community consultation, and corporate reputation. The assignment requires students to summarize key findings from these studies and present them in a logical and coherent manner.

SOCIAL MEDIA

Table of Contents
INTRODUCTION...........................................................................................................................1
Background/Literature review....................................................................................................1
Research topics/Research questions............................................................................................2
Research aim/ objectives.............................................................................................................3
Intended methodologies..............................................................................................................3
Conclusion ......................................................................................................................................5
Appendix..........................................................................................................................................6
REFERENCES ...............................................................................................................................8

INTRODUCTION
Social media is a process that aids to gaining traffic and attention through social media
sites. It is very crucial component as it supports to enhance traffic, leads and sales (What are the
Impacts of Social Media?, 2018). Therefore, it can be stated that social media monitoring will be
useful in terms to gain insights on the competitors campaigns, strength and weaknesses. This
method of research has replaced the old traditional method. The market research is costly and
time intensive process. Social media is a tool that creates online communities to share
information, ideas, personal message and other content.
The present report is based on the business activities of Facebook Inc., It is an American
social media and social networking service company. It is an online tool that ids to build social
relation with people.
Furthermore, the present report will cover following topics as literature review, research
aims and objectives, methodologies etc. Lastly report will produce project plan and Gantt chart
to set the deadline to each activities.
Background/Literature review
Facebook is one of the most famous social networking sites that aids to connect people
and to build social relation with them. In this modern scenario, social media approach has
replaced old traditional technique's. Thus, one of the beneficial aspect of Facebook advertising is
to reach to the exact audience and it has become the one of the most targeted form of advertising.
It is helpful term that allows customers to contact their friends online. It is one of the popular
free social networking that allows registered users to create their profiles and to touch with
customers, friends and colleagues.
As per the view of Drummond, McGrath and O'Toole, (2018) it can be stated that the social
media platforms are useful in order to promote product and services at the online platform. In
this modern scenario, the most of the individual relay over this approach only. In contrary to
stated that social media is one of the most effective tool that work as to have enhancement in
brand awareness and supports to grab the attention of potential customers within market.
Stated that the firms allows customers to get connect with business at the personal level. It can be
a good way of attracting the customer at the larger extent. It is very effective approach in order to
boost sales. According to the view of Anderson and Jiang, (2018) stated that the most of the firm
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are adopting the social media strategy that aids to define the that how firm can be able to use
social media in order to achieve their goals. Hence, it can be stated that companies are
successfully using social media approaches in terms to drive sales, build traffic, find employees
and create positive and well known brand in market. Thus, Tajudeen, Jaafar and Ainin, (2018)
stated that social media platforms works as to create and offer versatile and new ways to reach
potential buyers. In this, most of the business use this method in order to boost and promote their
business activities at the effective manner.
Hence, marketing is one of the activity that aids to enhance the growth to the enterprise, it
its done with any online platform. Herein, it can be sated that social media platforms has
replaced the old method of advertisements. It provides one effective way to communicate with
peers, customers and potential customers. Therefore, it aids to personalize the brand and aids to
spread a message in the relaxed and conversational way. In addition to it, this is one of the most
effective mode that aids to develop and grow relationship with customers and influencers. As per
the view of Harvin and et.al., (2019) it can be stated that social media tool plays one of the
effective role in order to multi channel approach. It is one of the comprehensive marketing
strategy that works as to track the people and supports to establish two way communication. In
contrary to Alalwan, (2018) stated that it helps to create authentic and lasting brand awareness
and put major focus over need and desires of customers. Thus, it can be stated that social media
strategy that allows connecting with people helps to enhancing the marketing campaign in better
and appropriate mode. Hence, it can be stated that social media approach is very beneficial in
terms to have sales improvement and also aids to improvise the customer satisfaction. As per the
view of Enikolopov, Petrova and Sonin, (2018) social media allows users to get connect with
number of people so that it can be possible to produce highly relevant and engaging contents. It
is very useful in order to gather the attention and enhance the sales in market. It is one of the
powerful tool that aids to define the strategic direction to the enterprise.
Research topics/Research questions
Research topics- The impact of social media over market research. With reference to case study
of Facebook Inc.”
Questions
 What are the techniques that used by social media platform to obtain better market
research?
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 How barriers in legal framework prevents certain methods for marketing?
 Which users of social media opt ion or out for marketing preferences.
Research aim/ objectives
The main aim of report is to “To access the impact of social media over market research.
With reference to case study of Facebook Inc.”
Objectives-
 To analyse the major social media platforms that people uses to interact within the market
environment.
 To explore the technique's used by social media platform in order to obtain market
research.
 To investigate the barriers in the legal framework that prevent certain methods of
marketing.
 To find out which users of social media opt ion or out for marketing preferences.
Intended methodologies
Research methodologies termed out as process that aids to collect information and data
for the purpose of making appropriate business decision. It defines the systematic and theoretical
analysis of the methods. This its defined in following manner as-
Research philosophy- It is process that helps to make evaluation of the data with the help of
analytical and logical reasoning so that each component can be examine in proper mode. This is
process with help of which information can be gathered, analysed and used. There are two
method of collecting data as interpretive and positivism (Ravasi, Etter and Colleoni, 2019). In
addition to this, interpretivistism philosophy aids to interpret the elements of study. Thus,
positivism philosophy is based on natural properties, phenomena and relations. In order to
determine the impact of social media the researcher will have the use of interpretive technique's.
Research approach- This is term that aids defined as plan and procedure and it is consisted of
broad assumption in order have detailed method of collection, analysis and interpretation. With
help of research problem can be addressed. Thus, research has been classified into two categories
as inductive and deductive. Thus, inductive approach defined as generation of new theory wit
help of which data can be emerged. In this, deductive approach relates with developing the
hypothesis and it is also based on existing theory. In order to carry out the present research, the
researcher will have the use of inductive approach so better generalised conclusion can be drawn.
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Research design- This is term that id defined as step by step plan of action that aids to collect the
brief description about the research topic. Thus research strategy has been classified into method
as explanatory, descriptive, diagnostic and experimental etc. in order to carry out the present
research the researcher will have the use of descriptive technique so that depth and detailed
information can be gathered. It is one of the systematic framework that is combine of various
components of research. In order to carry out the present research the researcher will have the
use of inductive technique's so that depth information can be achieved.
Data collection- It is process that is defined as gathering and measuring information based on
variables of interest. This is method that aids to collect the information from the relevant sources.
There are two method with help of which data can be collected as primary and secondary. In this
researcher will have the use of both methods as primary and secondary (Schaarschmidt and
Walsh, 2018). Under this, primary method will be used to gather the first hand information by
undertaking survey analysis. On the other hand, secondary method will be used to get the
information with help of books, journal and online articles etc.
Sampling- This is process that is referred as statistical analysis and under this information can be
gather with the use of predetermined number of observations. Thus, method of sampling
classified into simple random technique's. Stratified, cluster and probability sampling. It is
selection of subset with help of which generalised conclusion can be drawn. In order to carry out
the present researcher the researcher will have the use of sample random technique's by
undertaking probabilistic method of collecting the data. In this, the sampling size of 10 will be
taken as customers, they aid to collect the information based on usage of social media on market
research.
Data analysis- This is process that is defined as inspecting, cleansing, transforming and
modelling data with the use of discovering information based and that must be informed and aids
to support decision making. Thus, data analysis can be classified into method as qualitative and
quantitative method. In order to access the impact of social media on market research the
researcher will have the use of qualitative approach. Under this, information can be gather with
use of framework as thematic analysis and depth observation will be undertaken by the use of
analysis. Under this, researcher will have the use of qualitative approach to get the depth
information.
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Ethical- In this, the reliability of the information must be maintained. Thus, researcher must
have prior approval before disclosing any information so that reliable and valid data can be
collected to carry out further investigation in the future.
Conclusion
Hereby, it can be concluded that social media approach is one of the significant tool that
aids to create brand loyalty within the market. Thus, it is helpful that provides better
communication between company and its clients. This is one of the effective terms that aids to
boost the sales of the enterprise. Therefore, it is one of the effective term that aids to enhance and
build meaningful relationships. Thus, social media provides multi channel approach that works
as to amplify and to create success in market. It supports to promote the product and services
within market. Furthermore, it defines as one of the most powerful tool for companies in order to
maintain day to day operations. Thus, social media has revolutionized the way that aids to
communicate the people in effective manner.
In this research, the number of activities has been taken into consideration as this has
outlined the aim and objective based on the given topic, key literature review has been conducted
in terms to have the depth information, the number of research methodologies has been collected
in order to select one appropriate method of collecting the data.
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Appendix
Task Mode Task Name Duration Start Finish Predecessors
Auto
Schedule
d
Research proposal 2 days Fri 15-02-19 Mon 18-02-
19
Auto
Schedule
d
Aims and objectives 4 days Tue 19-02-19 Fri 22-02-19 1
Auto
Schedule
d
Literature review 5 days Mon 25-02-
19 Fri 01-03-19 2
Auto
Schedule
d
Research methodologies 7 days Mon 25-02-
19 Tue 05-03-19 2
Auto
Schedule
d
Data collection 8 days Wed 06-03-
19 Fri 15-03-19 3,4
Auto
Schedule
d
Data analysis 4 days Mon 18-03-
19 Thu 21-03-19 5
Auto
Schedule
d
Data interpretation 5 days Fri 22-03-19 Thu 28-03-19 6
Auto
Schedule
d
Finding and conclusion 2 days Fri 22-03-19 Mon 25-03-
19 3,6
Auto
Schedule
d
Recommendations 1 day Fri 29-03-19 Fri 29-03-19 7,8
Auto
Schedule
d
Execute the plan 1 day Mon 01-04-
19
Mon 01-04-
19 9
Auto
Schedule
d
Submission 1 day Tue 02-04-19 Tue 02-04-19 10
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REFERENCES
Book & Journal
Drummond, C., McGrath, H. and O'Toole, T., 2018. The impact of social media on resource
mobilisation in entrepreneurial firms. Industrial Marketing Management. 70. pp.68-89.
Anderson, M. and Jiang, J., 2018. Teens, social media & technology 2018. Washington, DC:
Pew Internet & American Life Project. Retrieved June. 3. p.2018.
Tajudeen, F.P., Jaafar, N.I. and Ainin, S., 2018. Understanding the impact of social media usage
among organizations. Information & Management. 55(3). pp.308-321.
Harvin, J.A and et,al., 2019. Impact of Social Media on Community Consultation in Exception
from Informed Consent Clinical Trials. Journal of Surgical Research. 234. pp.65-71.
Alalwan, A.A., 2018. Investigating the impact of social media advertising features on customer
purchase intention. International Journal of Information Management. 42. pp.65-77.
Enikolopov, R., Petrova, M. and Sonin, K., 2018. Social media and corruption. American
Economic Journal: Applied Economics. 10(1). pp.150-74.
Ravasi, D., Etter, M. and Colleoni, E., 2019. Why Would the Rise of Social Media Increase the
Influence of Traditional Media on Collective Judgments? A Response to Blevins and
Ragozzino. Academy of Management Review. 44(1). pp.222-226.
Schaarschmidt, M. and Walsh, G., 2018. Social media-driven antecedents and consequences of
employees' awareness of their impact on corporate reputation. Journal of Business
Research.
Online
What are the Impacts of Social Media?. 2018. [Online] Available
through:<https://www.digitalvidya.com/blog/impact-of-social-media/>.
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