Business Research Plan

Introduction:

Social media is one of the powerful and effective tools for marketing in the current time period. E-commerce companies and other sort of companies are using social media on a large scale to do the marketing of the product in an effective way. For E-commerce company’s now social media is the tool through they which easily communicates to the person attractive deals. Social media tools in recent years play a crucial role in assisting firms to generate sales online. Traffic simply view ad on the platform like Facebook and by clicking on it land on the company website where they can easily make purchase of the product. Many companies like Hubble observe strong growth in their revenue by doing Facebook marketing. Social media platforms also assist firms to provide better after sales service to the customers. Many times it is seen that if a customer has any grievance, it place same on social media and firm promptly respond to it. Thus, by doing so firms successfully create and retain customers in the business (Dahl, 2018). It can be said that there is huge significance of the social media platforms for the company.

Literature review:

Social media and elevation in revenue
According to Karimi, and Naghibi, 2015 social media play a very important role in assisting firms to earn more revenue in the business. It can be observed that individuals find content that is presented in the social media very interesting and informative in nature. Due to this reason, social media content has strong power to persuade the people to buy the company product. More strong is content in better way firm can reach its target customers and can generate more revenue from them.
As per views of Ananda, Hernández-García, and Lamberti, 2016 proper marketing strategy that is implemented on social media platforms to promote word of mouth marketing among people. This makes brand popular and increase awareness about it among people. Consequently, individuals start trying company, product and this lead to elevation in sales of the revenue.

Ashley, and Tuten, 2015 state that those firms that provide subscription service gain huge benefits from the social media marketing. Such kind of firms, conducts contests and some activities on social media platform and promotes active engagement between people and them. Through this contest interest is developed among customers. Once the customer subscribes product every month product is delivered at its doorstep. Thus, more firm has retention rate and low churn rate it consistently earn more revenue from the social media platforms. Thus, social media platforms benefit more to the firms that follow social media platforms in their business.

Contrary to this Dahl, 2018 state that social media marketing always did not prove effective for the firms. There are a number of reasons behind this. One of the main reasons is that many times firms failed to identify their target audience accurately. Due to improper research or wrong assumptions firm failed to target its product to the customers in proper manner and due to this reason social media marketing campaign failed in the market.
Sometimes Armstrong, Delia, and Giardina, 2016 Facebook algorithm did not find that specific ad can generate better results. Moreover, changes in the algorithms directly affect ways in which marketing can be done in a better way on the social media platform like Facebook. Hence, type of ad firm formed and changes in algorithms also heavily affect the results that firm achieved through social media marketing efforts. Sometimes due to these reasons firm earn less revenue in Facebook marketing.

 

 

Evaluation of individual research plan:

In the introduction section brief info about social media marketing is given. In this section effectiveness of the social media for the business firms is explained in detail. In this section example of the company is also given which successfully make use of social media for its business. By using example, it is reflected that social media is an effective tool of the marketing. In case any firm did not get the desired results, then it means that it is making mistakes somewhere. Example of success of Hubble contacts is the strong evidence of multiple benefits that firms receive in their business by making use of social media channels.

Considering objectives entire literature review section is classified into the four parts, namely social media impact on revenue, social media effectiveness measurement, social media and online engagement with people and a social media role in understanding customers. Classification will help the reader to easily navigate through the literature review section. By covering aspects like understanding and engagement with customers and revenue and performance measurement scope of the research study is made wide. These aspects are covered to reflect to the readers that use of the social media marketing is not just limited to the doing marketing of the company product. Social media has multiple advantages for the firm like it helps them to generate leads in the business, retargeting individuals, doing engagement with people and customers in a proper manner. Feedback can also be received from the social media platform. Thus, through research study by focusing on all these areas multiple advantages of social media marketing for the firms are explained in above sections.

In the research methodology section deep review of the entire research requirement is done. In the present research main aim is to identify patterns and accordingly form a theory that social media marketing prove effective for the firms. Hence, due to this reason the inductive research approach and interpretivism research philosophy is taken into the account. To identify patterns best way to do the analysis is conducted thematic analysis of the research study. Statistical tools are not used because it is used to prove any sort of theory or assumption. Thus, overall it can be said that research methodology is prepared by considering actual research requirements. Questions in the questionnaire will be arranged in a specific way so that respondent if given the wrong answer then it can be tracked. Hence, it can be assumed that data analysis will be done in proper manner.

REFERENCES:

Books and Journals
Ananda, A. S., Hernández-García, Á.. and Lamberti, L. 2016. N-REL: A comprehensive framework of social media marketing strategic actions for marketing organizations. Journal of Innovation & Knowledge. 1(3). 170-180.
Armstrong, C. G., Delia, E. B.. and Giardina, M. D. 2016. Embracing the social in social media: An analysis of the social media marketing strategies of the Los Angeles Kings. Communication & Sport. 4(2). 145-165.
Ashley, C.. and Tuten, T. 2015. Creative strategies in social media marketing: An exploratory study of branded social content and consumer engagement. Psychology & Marketing. 32(1). 15-27.
Bøe, M., Hognestad, K.. and Waniganayake, M. 2017. Qualitative shadowing as a research methodology for exploring early childhood leadership in practice. Educational Management Administration & Leadership. 45(4). 605-620.
Clarke, E.. and Visser, J. 2019. Pragmatic research methodology in education: possibilities and pitfalls. International Journal of Research & Method in Education. 42(5). 455-469.
Cordeiro, L., Rittenmeyer, L.. and Soares, C. B. 2015. Action research methodology in the health care field: a scoping review protocol. JBI Database of Systematic Reviews and Implementation Reports. 13(8). 70-78.
Cronholm, S.. and Göbel, H., 2015. Empirical grounding of design science research methodology. In International Conference on Design Science Research in Information Systems (pp. 471-478). Springer, Cham.
Dahl, S. 2018. Social media marketing: Theories and applications. Sage.
Dwivedi, Y. K., Kapoor, K. K.. and Chen, H. 2015. Social media marketing and advertising. The Marketing Review. 15(3). 289-309.
Elgort, I. 2018. Technology-mediated second language vocabulary development: A review of trends in research methodology. calico journal. 35(1). 1-29.
Felix, R., Rauschnabel, P. A.. and Hinsch, C. 2017. Elements of strategic social media marketing: A holistic framework. Journal of Business Research. 70. 118-126.
Godey, B. and et.al., 2016. Social media marketing efforts of luxury brands: Influence on brand equity and consumer behavior. Journal of business research. 69(12). 5833-5841.
Hassan, S., Ahmad Nadzim, S. Z.. and Shiratuddin, N. 2015. Strategic use of social media for small business based on the AIDA model. Procedia-Social and Behavioral Sciences. 172. 262-269.
Hathaway, H. and et.al., 2018. RMJ research series: How to write-up research methodology. Rwanda Medical Journal. 74(4). 16-19.
Iankova, S. and et.al., 2019. A comparison of social media marketing between B2B, B2C and mixed business models. Industrial Marketing Management. 81. 169-179.
Karimi, S.. and Naghibi, H. S. 2015. Social media marketing (SMM) strategies for small to medium enterprises (SMEs). International Journal of Information, Business and Management. 7(4). 86.
Knipe, S.. and Bottrell, C. 2015. JARA schedule: A tool for understanding research methodology. Journal of Multidisciplinary Research. 7(2). 17-30.
Kovalevska, I., Barabash, M.. and Snihur, V. 2018. Development of a research methodology and analysis of the stress state of a parting under the joint and downward mining of coal seams. Mining of Mineral Deposits. (12, Iss. 1). 76.
McKelvie, S.. and Standing, L. G. 2018. Teaching psychology research methodology across the curriculum to promote undergraduate publication: an eight-course structure and two helpful practices. Frontiers in Psychology. 9. 2295.
Seo, E. J.. and Park, J. W. 2018. A study on the effects of social media marketing activities on brand equity and customer response in the airline industry. Journal of Air Transport Management. 66. 36-41.
Sutrisna, M.. and Setiawan, W. 2016. 14 The application of grounded theory methodology in built environment research. Research methodology in the built environment: A selection of case studies, 231.
Tuten, T. L.. and Solomon, M. R. 2017. Social media marketing. Sage.
Vinerean, S. 2017. Importance of strategic social media marketing. Expert journal of marketing. 5(1).
Wang, Z.. and Kim, H. G. 2017. Can social media marketing improve customer relationship capabilities and firm performance? Dynamic capability perspective. Journal of Interactive Marketing. 39. 15-26.
Zimmerman, J.. and Ng, D. 2015. Social media marketing all-in-one for dummies. John Wiley & Sons.

 

 

Here, at archlite assignment help, we provide various academic assignment assistance including Commercial law assignment help | Computer architecture assignment help  & many more.