Impact of social media tools on enhancing growth and performance of business
Added on 2020-10-05
31 Pages6862 Words327 Views
RESEARCH PROJECT
Table of ContentsCHAPTER 1: INTRODUCTION....................................................................................................11.1 Introduction...........................................................................................................................11.2 Background of research.........................................................................................................11.3 Significance of research........................................................................................................21.4 Aim........................................................................................................................................31.5 Research objectives...............................................................................................................31.6 Research Questions...............................................................................................................31.7 Time scale.............................................................................................................................3CHAPTER 2: LITERATURE REVIEW.........................................................................................52.1 Impact of social media tools on enhancing growth and performance of business................52.2 Role of social media tools in organising promotional strategies..........................................62.3 Different social media tools which are beneficial for firms in achieving competitiveadvantage.....................................................................................................................................62.4 Relationship between social media tools and promotional strategies for expandingbusiness operations......................................................................................................................7CHAPTER 3: RESEARCH METHODOLOGY.............................................................................93.1 Type of Investigation............................................................................................................93.2 Research design.....................................................................................................................93.3 Research Philosophy.............................................................................................................93.4 Research Approach.............................................................................................................103.5 Data Sampling.....................................................................................................................103.6 Ethical Consideration..........................................................................................................10CHAPTER 4: DATA ANALYSIS................................................................................................12CHAPTER 5: CONCLUSION AND RECOMMENDATIONS...................................................215.1 Conclusion...........................................................................................................................215.2 Recommendation.................................................................................................................21REFERENCES..............................................................................................................................22.........................................................................................................................................................1
TITLE: The implications of digital technologies on SME. A case study on Talent Plus.CHAPTER 1: INTRODUCTION1.1 IntroductionSocial media is collective of the online communication channels which are dedicated tothe community based interaction, collaboration, input and content- sharing. Through using bettersocial media, people can connect with the each other. Social media is a computer- medicatedtechnologies which facilitate creation as well as sharing of data, information, career interests andideas through networks as well as virtual communities (Aral, Dellarocas and Godes, 2013). Atmarket place, competition level is more so firm use different tools of social media in order tocommunicate with the people. Social media is an effective tool that can used through companiesto change business landscape. Social media is necessary tool on which more persons can sharetheir ideas as well thoughts by using different online sites for an instance Instagram, Facebook,twitter, etc. Social media is helpful in increasing effectiveness as well as sales of company insignificant manner. In context to this, social media develops an immense affect on industry.Developing and creating website is necessary for business. Along with the website, thereis a requirement to an organisation to expand its online reach to the platforms of social media.On the other hand, social media is an easy process of giving and receiving feedbacks fromconsumers. In this present time period, many people are engaged with the sites of socialnetworking in context to search better services and products and also people share their personalexperience. In social media includes forums and also blogging of interactive presence thatpermits people ability to be engage in the conversation with some other persons. 1.2 Background of researchSocial media is an internal part of life of human as applications proliferate as well associal websites. In this, traditional online media consists social components like comments areasfor the users. Organisations use social media to make the products, promotion, connect with theexiting consumers and also expand business at large scale (Ayeh And et. al., 2012). It is aresponsibility of manager to use the better social media applications in addition to connect withlarge number of consumers at market place. Talent Plus is a consultancy firm and it provide itsservices to large number of people in better manner. The main focus of this organisation is toconnect with more people to increase its business at large scale and also target different people.1
It helps in enhancing the sales along with the profit level of Talent Plus organisation with ingiven period of time. With the help of using social media, company can aware people about theservices of company and attracts them towards firm. It is a responsibility of marketing managerto involve the social media in promotion mix at the time of preparing as well as implementingthe strategies. Talent plus organisation uses the Instagram, LinkedIn, Twitter social media tools tointeract with people and know about the specifications of existing products and also services. Itwill be helpful in expand business in to some other countries and target the different marketplace. With the help of this, firm can gain the competitive advantage. Social media plays anecessary role in order to promote services of firm at market place. Promotion should beattractive and it aids in enhancing sales of an organisation. The main importance of promotion isto enhance sales, develop brand equity, competitive retaliations, positioning, acceptance of newproducts and many others (Bruhn, Schoenmueller and Schäfer, 2012). In addition to talent plus,it provides its services to consumers online at reasonable cost. For this reason, firm has loyalconsumers at market place. Social media provides a marketer voice and also a method to interactwith the consumers, peers and also existing customers. It personalise brand and aids to spreadmessage of firm in a conversational and relaxed manner. 1.3 Rationale of researchThis research is take in to consideration on “To identify the impact of social media toolsand their influence on promotion strategy of firm.” It is valuable in nature and helpful in providepositive outcome. The main rationale behind conducting research is to know about social mediain a detailed manner. In this present time, business face many problems to connect with peopleso through research firm can know effectiveness of social media tools to connect with people. Itwill help in enhancing knowledge as well as skills of an individual. 1.4 AimThe aim of this investigation is to “To identify the impact of social media tools and theirinfluence on promotion strategy of firm. A case study on Talent Plus”.2
1.5 Research objectivesIt is necessary for an investigator is to develop objectives before conducting anyinvestigation. It is necessary that objectives should be clear and better. There are some objectivesmention below:To identify the impact of social media tools on enhancing growth and performance ofbusiness.To evaluate the role of social media tools in organising promotional strategies.To determine different social media tools which are beneficial for firms in achievingcompetitive advantage.To analyse the relationship between social media tools and promotional strategies forexpanding business operations globally.1.6 Research QuestionsHow to identify the impact of social media tools on enhancing growth and performanceof business?Different ways to evaluate the role of social media tools in organising promotionalstrategies?How to determine different social media tools which are beneficial for firms in achievingcompetitive advantage?What are the measure to analyse relationship between social media tools and promotionalstrategies for expanding business operations globally?1.7 Time scaleIt is an arrangement of the events used as measure of relative or duration of period ofgeologic. Under this, firm arrange the time on the basis of activities (Fotis, Buhalis and Rossides,2012). Researcher works on achieving the set targets according to the assigned tasks in aneffective manner. 3
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CHAPTER 2: LITERATURE REVIEWThis part of research is a kind of review articles. It is scholarly pare that consists existingknowledge involving the substantive findings along with the theoretical to specific topic. Underthis, researcher used the secondary data to collect information and data. It is basis for aninvestigation in each academic area. In context to this, secondary sources are uses in collectingdata or information and these are books, journals, articles etc. Under this, data is collected in lesstime period and there is minimum cost involved. According to opinion of Dena Taylor (2018)literature review is a main part of research under which the an investigator justifies requirementof research through critically evaluating past research. The research defines aim of research forproper understanding. It is based on the personal judgement as well as objective analysis ofchosen research area. On the other hand, it provides lack of clarify of data and it is complex tosearch the accurate information. 2.1 Impact of social media tools on enhancing growth and performance of businessNow a days' people are using social media as a platform for sharing their live events withpeople who are directly or indirectly connected with them. Thus, it can be said that social mediafor uses web based mobile technologies for communicating with one another. On the basis ofview point of Goh, Heng and Lin, 2013 it has been stated that Talent Plus is a consultancy firmthat is suing social media for improving its brand image and in addition to this, they are using forproviding customers with adequate amount of information. There are different kinds of benefitsthat are provided by social media in order to improve performance and growth and these areexplained below:Better Customers services: Social media help company in responding with grievance toits customers if they have any kind of queries related to services and facilities provided bycompany. According to a study it can be analysed that if consumers have problem than they wantcompany revert them as soon as possible. In context with Talent Plus, with the help of socialmedia they are providing customers with a wide window of asking queries related to jobopportunities and many more. Cost efficient: As compared to other mediums social media is cost efficient so, ifcompany is while operating its business is going through a shortage of budget than this isconsidered as an effective tools. Talent Plus, is using websites like Facebook, Twitter, etc.,for5
sharing their information with the help of advertisement without any much cost. Therefore,social media can be considered as an affordable advertising platforms. Connectivity: Social media is also helpful in interacting with customers in order to knowtheir choices and preferences. It will gradually assist companies in doing modification accordingto the current market scenario. In terms of Talent Plus, it is helping them in connecting withintellectuals and expertise so that company can give appropriate suggestion for the queriescustomers are having. Establishing Brand Awareness: As maximum number of people are using social mediasites so transferring and sharing of information is very easy. With the help of this company canincrease brand awareness by telecasting attracting advertisement as a result it will createawareness amongst customers. 2.2 Role of social media tools in organising promotional strategiesAs per the current market scenario, there are a large number of social media tools whichare available and company are using this as a promotional strategies. These help company inmanaging customers relationship as it enable them in doing negotiation if consumers are havingany kind of problems. Most of the people are active in social media websites because of whichpromotional activities become easier for companies in providing better information to customers.According to Hutter and et. al., 2013, it can be evaluated that Facebook is the mostpopular demographics and around 89% of men and women are using and from there they aregetting information. Whereas Instagram is less popular than previous one and mostly people whoare living in urban areas are using. In context with Talent Plus, as it is a consultancy firm theirentire work is being done with the help of social media tool i.e. LinkedIn because most of thecompanies are active in this site and for getting appropriate solutions firm can directly contactwith Talent Plus for the same. LinkedIn is a professional networking sites that assist companiesin making professional profiles. For promotional activities social media is considered as anessential tool as digitalisation has made the process easier. Now a days' Whatsapp is in a current trend an individual can do chatting and videocalling as well through their mobile phone and only require a good internet connection. Further,it is considered as a great source for sharing information and other related items with otherpeople. In terms of Talent Plus, if a company wants to get any solution for any kind of problemrelated to legal issues than a person can directly go to the website and get the number and6
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