Marketing Research Report
James Bower
Liberty University
Marketing Research Report
Introduction
The question of proper ways to manage a company’s brand in the 21st century cannot be answered without discussing the use of social media outlets in today’s market place. Social media is an outlet source that allows companies to show their products and services at little to no price. Because social media outlets are at such a low cost and reaches a huge consumer base it has become a major factor over the past fifteen years in society. However, are these good enough reasons for a company to use social media as a marketing tool?
Research Problem The research problem to be addressed in this report is would the use of social media
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7) not just to expose the business to the public. Using social media has its advantages; however once the business gets the “fan” base for is that all the business need to do? In a Huffington Post article by Lisa Wirthman (2013), she concludes that “successful social media marketing isn’t just measured by the size of a company’s fan base. Even more important than how many fans and followers your company can gain, is how many it can actually keep” (para. 1). This means that even though using a social media outlet is important it is not enough to just “post things” to the business’ social media avenue of choice, the business also has to provide reasons for the consumer to want to stay with this business. A great example of a business using social media as a means of marketing comes from a Huffington Post article by Ingrid Saunders, the founder and CEO of popexpert.com. Saunders (2014) stated that without the use of social media her business would be “somewhat like a tree falling in the forest” (para. 4). For her company, that now has a staggering 400,000+ followers on Twitter alone, the best way to market her company was to use the vices of social media to catapult her business to the next level. Saunders continues by saying that “if you are a small business owner and are not a regular contributor to the primary social networks, you are likely missing out” (para. 7). This again shows the need for social media
Social media has become an influential ground for consumers to share their opinions about a company’s brand and products. In addition, it helps in having a strong brand that produces positive relations and distinguish the brand from competitors, is a critical component for effective marketing. According to Dahlén and Lange (2009) “the quality of the product is not the evident factor when it comes to purchasing a product, the deciding factor depends on how the brand is perceived” (Para. 1). This demonstrates the importance of incorporating social media as a tool to promote brands, allow for interactions, and customer satisfaction by engaging with customers more frequently for feedbacks or reviews. Thus create an opportunity for the company to show its devotion to their customers, and initiate good reputation, which can increase sales. In other words, social media has the ability to upsurge the awareness for businesses as well as the brand.
Social media is a great asset for businesses to use to help grow the American economy. Everyone's lives run much more effectively and smoothly when the economy is thriving, and the economy can no thrive without businesses booming. A great way for the business word to stay in the up and up is by using the media. Businesses can reach out to there clienttell to advertise a product with these sites (social media in business). Staying in touch with the people is the only way to hear their thoughts and concerns The business can grow when they are able to reach out to either existing clients, or catch the attention of a new base of clientele. With an ever changing economy it is crucial that businesses stay on top of what is trending in the markets.
Social media is different from more traditional marketing tactics as it offers a free platform that is easily accessible to anyone with internet access. This allows for the increase communication for organizations to foster brand awareness and often, and
The use of social media has a very wide variety of advantages and disadvantages for companies. In essence it’s an extremely cheap way to reach consumers, and help them develop a brand perception. Companies can use it to hit a wide audience, and show them about a new product, or deal going on. They can also use social media to develop conversations with their consumers. This can positively shape thoughts and ideas about the brand. Also companies can use analytic services figure out the demographics of who is interested in their
Thank you for the comprehensive post. I have gained valuable insights going through your arguments and assertions. The business today is a global village thanks to rapid technological, communication, and transportation advancements. Organizations need to adopt and adapt to such changes if they are to become successful. The advent of social media, in particular, has provided an enabling environment that marketers can use to reach even more people. However, a bad social media presence may even be worse than none at all. Hence, as companies rush to market themselves and their products through social media, it is important to ensure
2. According to the Marketing Research Association(2000), Marketing Research is defined as follows: "Marketing Research is the function which links the consumer, customer, and public to the marketer through information, information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process. Marketing research specifies the information required to address these issues, designs the methods for collecting information, manages and implements the data collection process, analyzes, and communicates the findings and their implications. As a whole, marketing research is about
For a successful firm, having a good research to realize the customers need is very important. Qualitative research and quantitative research are the main method to collect information and data from customers for making firm’s decision. However, there is a different between qualitative and quantitative which used in different part of projects. And they both have advantages and disadvantages in the process and the conclusion which may lead to incorrect decisions.
We cannot deny how big of an impact social media has on our lives now, not only on people but businesses too. It has opened a whole new door to the business world and given them a big opportunity to interact and attract a larger amount of customers. It’s given us a new and faster way of communication by exchanging pictures, stories, news, blogs, online discussions, etc. In exchange businesses have benefited by a long shot just by the click of a button. With the help of the Internet a company no longer is dependent on a particular customer base to survive because now it can reach out to a worldwide audience within seconds. It’s imaginable the countless business attributes of all social media to this day and still is growing. Social media
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The purpose of this report is to show that even though some state that Social Media has fallen short of their expectations, it is actually good for business, given that it enhances the visibility of their brand and helps businesses stay connected to potential customers.
***Please note that the Problem and Research Objectives for this project were changed since the last report was handed in. For a definition of this new problem and its accompanying research objectives, please see Appendix A.
the online channel still accounts for just 8% of total retail sales in the U.S., the future growthis going to be healthy with Amazon leading the way
Answer : Motivation in the workplace looks at "why." Why does one employee thrive in a particular task while another stumbles? Why does Candidate A go all out to earn a position while Candidate B shows no interest? The employee 's motivation guides his decisions and actions. The employee suffers from motivational conflict when the desire to act conflicts with some other emotion or motivation.
In an innovative economic society, were millions of products and services are created each year; marketing research is an essential element that provides a comprehensible representation of a need, and potential product concept solutions. Companies are always looking for new ways to generate a constant flow of revenue that will provide a competitive edge in a growing economic environment. Therefore, it is the marketing manager responsibility to assign marketing studies that targets a specific problem and produce opportunities for growth. Good marketers need insights to help them interpret past performance as well as plan future activities (Kotler & Keller, p. 97). Marketing research is crucial to the success of a company. In order to
Social media is capable of connecting a brand with its consumers and discover how they are being perceived, it also has the power to change perceptions and identify the key people within the business network. The unique feature of social media is that it can provide corporations and businesses solutions developed through operating with consumers and stakeholders. Basically, social media serves as a visible connection to one’s corporation and its stakeholders, consumers, suppliers, etc, who each have a defined role within the system to filter and regulate information. As mentioned earlier, the influence of social media is spreading in a proliferative pace that has resulted to an essential transformation in society, technology and business customs.