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A STUDY ON IMPACT OF SOCIAL MEDIA ON CONSUMER BUYING BEHAVIOR Submitted for PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE DEGREE OF POST GRADUATE DIP...
The impact of social media on consumer buying behavior
Impact of social media on purchasing behaviour
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There are over 1 billion users of social media on a global basis with seventy percent of businesses using it. Because of the large number of users, companies have made wide use of social media to get closer to their customers. Social media benefits the supply chain industry in many ways. Companies can improve communication with customers, create demand, reduce operating costs, lessen risk, increase productivity, and enhance marketplace intelligence. If companies aren’t participating in social media, they could be at a disadvantage because most of their customers, suppliers, and competitors are. Social media can help companies generate better ideas for improving supply chain processes and solving existing problems by looking into the shared insights of supply chain trading partners. Keywords: supply chain, social media, Facebook, Twitter, LinkedIn, communication How Social Media is Impacting the Supply Chain …show more content…
Worldwide internet users from 2000- 2015 grew by 753% (Platow, 2015). There was a time when companies worked to discourage their employees from using social media, but over the last few years, this is no longer the case. It is said that there are nearly $1 trillion U.S. dollars being made by social media (Lee, 2015). If a company is not using social media in their business practices they are missing out on several benefits of this new form of communication. Social media can provide a company with better communication with customers, better communication with their supply chain, to educate, and increase visibility. This paper will explore what exactly is social media, what impacts it has on supply chain, and why it’s a good idea for companies to become involved in this electronic networking of social
The increased interest of social media usage has led numbers of company and business to provide new experiences for their customer to leverage media platforms to make more efficient and effective purchases (Rad, 2010). In addition, the emergences of Web 2.0 technologies are dramatically changing the web collaboration concepts, which made the web more social and interconnected. The aforementioned phenomenon is called “social commerce”. It is a subset of electronic commerce, which utilize social media, or online media that support interaction and user contributions to enhance the online purchase experience.
Effective communication in an organization is one of the components of its success. Managers are charged with navigating communication obstacles while making every effort to harness its benefits. This onus placed on managers is compounded by organizational advancements and the application of new technologies. One relatively new organizational technology being applied is the use of social media. Social media creates communication issues yet conversely alleviates specific communication barriers by playing several roles within organizations today.
First the results of this study indicate that brand awareness (H1) has a significant influence on the purchase intention of online shoppers. Specifically this means that when people consider buying a product or service online, they would prefer a brand which has been advertized and they know about it. Nevertheless, brand awareness is likely to be a leading factor in the search for information stage in the online pre-purchase process. In this also called consideration stage (David Court, 2009), the largest number of brands takes place, but since today’s customers are awash in choices, it is eventually reduced based on other factors. This study reveals that consumers could change their preference in favor of an unknown brand if they find evaluation input in form of customer referrals. In this case, their final decision is based on the useful information that they found in the eWOM message rather than the awareness of the chosen brand (H2). The input from reviewers can discard some famous brands because as consumers learn more “their criteria shift” (Edelman, 2010, p. 3).
This paper will discuss and identify the effects of social media, and what will make social media better through research on best practices. Social media is an imperative public relations tool for companies to utilize in their business practices. Social media cannot be regulated so anyone can say what they want about the company, whether it is good, bad or ugly. Social media is developing rapidly and there are new platforms daily, making it necessary for companies to not only be familiar with those platforms, but also know how to reach the consumer through them.
In the age of empowered customers, an approach to social media helps companies keep their fingers on the “pulse of what’s important to their customers” (Success Center, n.d.). Business’s like Zappos and its uses of Twitter or other social networking platform to have collaborative interaction with customers and employees, allows the company to gain valuable insights and create long lasting
Brands should select their social media platforms based on the organization’s goals. This ever-changing digital world is constantly moving into the needs of intercommunication, which brings, as a result, an intense use of social media platforms. When it comes to business, communication is fundamental as well; a large part of the success any business can have is through the interaction they may have among employees and even more, with the customers or potential customers. As marketers, one of the trickiest and critical decisions that are taken is which platform would work the best for a specific need and which one is more likely to render effective results that would influence the performance of the brand. “In August 2015, Snapchat was ranked
By the uses Twitter, Amazon understands how Social Media is not just a marketing tool but can also be integrated directly into e-commerce. Amazon has invested in allowing users to send items to their shopping basket directly from Twitterby responding to product tweets with the hashtag #AmazonCart. Moreover, Amazon had a dominant grip on both B2C and B2B, which reflects on their Amazon Web Services (AWS) Twitter
Sometimes the best way to see if your business needs help with social media is to get your hands dirt with a social media evaluation. Although you might not be a social media expert...yet, you can still use these questions to see how to improve your presence.
Social media is pertinent in use of communication throughout today’s organizations. There are many social media platforms that allow organizations to convey communication to potential consumers, stakeholders and the public. “It is essential for leaders to integrate these technologies and seek the best way to use social media and networks to the advantage of the business” (Billington, 2012, p.1). Business owners find that keeping up with current technology trends is essential in having a competitive advantage in the market place and having a strict set of standards and strategy is important in quickly adapting to social media trends.
The Impact of Social Media on the Change of interrelationship between the Organisations and the Customer
Since social media users grow larger and larger, many companies take the opportunities of using social media marketing to reach more customers. Companies use social media marketing in order to achieve marketing communication and branding goals. Social media allows companies to see what prospects are saying about their brands and competitors. It also allows companies to build deeper relationships with existing customers that drives them to purchase again and again. Not only it can help them generate new leads, but it allows them to build deeper relationships with existing clients that drives them to purchase again and again. It has become common for businesses to branch out and experiment with multiple networks with the aim of reaching the maximum amount of costumers.
Influence of social media marketing on businesses – effective or non-effective? Introduction Marketing is a constantly changing phenomenon. Marketing embraces innovative techniques to accommodate the new standards of the business world. Media marketing was popularized in the year 1969.
Since the introduction of internet in the 1990’s, its importance worldwide has always grown tremendously. From the first email send to the domination of Facebook and other social media websites, it has changed the way people communicate. The use of social media is increasingly becoming the preferred way people share their daily activities, ideas and knowledge and that is why it’s the most talked about and used platform. Many companies are encouraging their employees to use various social media platforms and engage online for office productivity, posting opinions and presenting their thoughts. Corporations realize that Social Media tools such as blogs, forums, podcasts and social networking websites makes internal communications faster, more convenient and effective. Social media is a low-cost, high-impact tool that can also complement and reinforce your existing communications efforts. It gives a new dimension to internal communications in many ways: building relationship with employees, leads to diverse thinking and innovation, and reduce costs and Increase Productivity. Social media has impacted positively in the business world, but its downside has impacted teens in high school, with issues such as cyber bullying, and people using Facebook and twitter to get over their boredom and research proving that the more they use social networking websites the more envious they feel.
“Social Media is participatory online media where news, photos, videos, and podcasts are made public via social media websites through submission. Normally accompanied with a voting process to make media items become popular” (Evans, 2012).Social media can have a very big impact on the reputation of a company. Because we are living in an age of information, people could be easy to get some important information from social media. Every day, people use social media for work, shopping or fun. So, if a company wants a successful marketing strategy, it must make good use of Internet. Although some people who work in company said a company should not use things online for marketing, a companies should because the majority of people use Internet every day, which enables many new ways to open relationships. Also, companies can use social media to understand what customers need and what could be improved.
The importance of social media today cannot be underestimated, whether for business or personal connections. Used as a business tool, a strong social media presence can enhance brand loyalty, ensure brand commitment and importantly, drive direct sales. However, there are some glaring (but often over-looked) tips that prove fatal to the process of using social media as a tool for driving direct sales (if they are ignored). Outlined below are the 5 (five) most notorious.