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ABSTRACT
In an era where technology prevails, entrepreneurs as well as marketers see the need to keep up
with the fast pace of change or risk being outdated. Gone are the days when a pure-bricks
business model will thrive well in current market scenario. It is practically impossible to design a
marketing strategy without considering social networks. Social media had become really
important gradient in today’s marketing mix in general and in promotion mix in particular.
Adapting some form of marketing online through social media is a key node for all businesses,
especially in an industry where trends constantly change such as fashion and handicrafts. The
paper carries out empirical research to understand the effectiveness of social media as a
marketing tool and an effort has been made to analyze the extent social media helps consumers
in buying decision making. In addition strategies have been suggested for maximizing the
effectiveness. Various statistical tests have been applied to support the research hypothesis.
KEYWORDS: Promotional tool, marketing strategy, SNS, Social Media, Online branding
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INTRODUCTION
Over the past 40 years, we have experienced a radical shift in how business is conducted and
how people interact. The introduction of personal computers, the Internet, and e-commerce have
had a tremendous impact on how businesses operate and market. The introduction of social
media technology is accelerating and we can expect it to have a similar impact on businesses
now and into the future. As new technologies became available, businesses that learn to use new
technologies gain great benefits. Some of the best-known examples include technology-driven
companies such as Microsoft, eBay, Amazon and Google. In a short span of time, social media
has become one of the most loved mediums for the Indian youths today. Social Media Marketing
is the hottest new marketing concept and every business owner wants to know how social media
can generate value for their business. People are social by nature and collect or share
information that is important to them. Social Media Marketing is about understanding how
technology is making it easier for people to connect socially with their social networks and how your business can profit from that understanding. More and more of your customers, whether for
personal use, business-to-consumer or business-to-business reasons use social media in every
aspect of their daily life. There is a common misconception that social media and social
networking sites (SNS) are two synonymous terms. Social media are tools for sharing and
discussing information. It can be described as a kind of online media which encourages every
member for feedback and contribution. It is a social instrument of two way communication
facilitating the sharing of information between users within a defined network via web 2.0
(O'Reilly, 2005). It involves online activities in which the user contributes to content creation.
This
media encourages user involvement which can be as simple as posting comments or giving votes
or as complex as recommending content to other user on the basis of preferences of people with
similar interests and lifestyle. Thus social media can be described as a broad term inclusive of
activities where people create content, share it, bookmark it and network at a phenomenal rate.
On the other hand social networking sites are a place where in one forms communities of interest
to connect to others. Social networking sites utilize social media technology to connect with
people and build relationships. Social networking sites allow individuals to construct their profile
within a bounded system, share with other users and view and traverse their list of connections
and those made by others within the system (Boyd & Ellison, 2007). It can be thus concluded
that social networking sites are a form of social media. The increasing dependence on technology
for basic communication highlights the importance of analyzing how these networking sites are
affecting daily processes. Anyone including teens and young adults, women, men, affluent
consumers, and older individuals can join a social network site. Once registered the person can
begin to socialize and create his/her own network of friends with common interests or goals.
Sites like Face book, Twitter, LinkedIn are influencing the way users establish, maintain and
cultivate a range of social relationships, from close friendships to casual acquaintances.
Consumers today want to be more informed about products before they make the purchase. Most
importantly, social networks are extremely capable of informing and influencing purchase
decisions, as many users now trust their peer opinions more than the marketing strategists.
Customers now have the power to talk back at the brand and broadcast their opinions of the
brand. Therefore, marketers have no choice but to treat them differently and with greater respect.
Scope of the Study
The scope of the study has been limited to social media marketing only. The study has been
confined to Delhi & NCR region as this area has greater internet penetration and plenty of social
Network Sites users.
Objective of Study
A) To examine the extent, social media that helps consumers in buying decision making
B) To study the gap between consumer expectation from Social media and its performance
C) To suggest strategies to bridge the gap between expectation and performance to improve
its effectiveness
Research Methodology
The study is based on descriptive research design. A questionnaire has been designed, to know
the point of view of respondent regarding the extent of social media that helps consumers in
buying decision making. First part of the questionnaire contains information regarding
demographics and usage pattern of social media of the respondent. Second part has series of
close-ended indirect questions which are based on impact of social media in making consumer
buy a product and expectation from such media. The survey was conducted online through social
networking sites and responses of 150 social networkers were collected. The instrument
(questionnaire) was put over Google docs and the link was sent to users to fill the instrument
through various social networking sites like Facebook, Orkut, Twitter, LinkedIn, Hi5, Bebo etc.
The respondents and other people on different social networking sites were also requested to post
the link from their profile. So the sampling technique used was non-probability convenience
sampling. We used regression analysis for testing of hypothesis. For visual representation of
finding and results bar charts, pie charts and tables etc. ahs been used.