Project objective
The social media incorporates the diverse web-based communication technique that can be practiced by a company to share the data and communicate with others. In the current business scenario, high range of social network can be implemented by corporations to share the data. These social networks can be Facebook, SnapChat, Pinterest, LinkedIn, Whatsapp, Instagram, and Twitter. It is assessed that there are about 46 billion people who have executed the social networking system in order to interact with people and share the opinions and beliefs via the web. It is assessed that Facebook is a renowned social network as there are about 1.86 billion of customers who use this site at the international level. As per the current scenario, it is analyzed that there area large number of people who exercise social networking is young people particularly college student (Solomon, et. al., 2014).
It is evaluated that social networking playsa vital role in the current business phenomenon. A corporation can influence the high amount of customers and deals with the operation of the business by implementing the social network. They can use social networking practices in order to generate the awareness about the products and services between high amounts of customers. As a result, it can be advantageous for gaining the profitability in the least time duration as well as minimum expenses (Godey, et. al., 2016).
A literature review of this research includes the reviews, discussion, and facts provided by different authors regarding research concern. This research is related to marketing management discipline. The topic of this investigation is to assess the impact of using social media marketing on consumer buying behavior in case of Wesfarmers limited (Ioan?s and Stoica, 2014).
The key aim of this research is to address the impact of social media marketing on consumer buying behavior in case of Wesfarmers limited. The given below objective will be practiced to attain the main aim of research:
- To explore the meaning and concepts of social network and consumer buying behavior
- To address the impact of social media marketing on consumer buying behavior in case of Wesfarmers limited
- To recommend the social media marketing strategy to influence the consumer buying behavior in case of Wesfarmers limited
The scope of this research is very wider as social networking and consumer buying behavior issue is currently popular. The literature review is evaluated by using different secondary sources such as journal articles, books, online and offline websites, and a peer-reviewed article. These sources enable a reader to build comprehensive knowledge regarding the impact of social media marketing on consumer buying behavior (Schivinski, and Dabrowski, 2016). This project is also advantageous for retailers to build the knowledge of usinga social network strategy to influence the buying behavior of the consumer. This research is also effective for the corporation and people who practice social network because it develops the understanding regarding the benefits of using social networking in business (Kumar, et. al., 2016).
Project Scope
This literature review chapter helps an investigator to gain the understanding regarding the impact of social media marketing on consumer buying behavior. It also develops the comprehension about social media strategy to influence the buying behavior of customers.
As per the view ofErkan and Evans (2016), asocial network is an electronic-based tool, which aids to develop the relationship amid sellers and buyers to right to way share their information. It facilitates the customers to distribute their opinion and belief to their family and friend on the social media. Through social media, an organization can be competent for allocating their essential facts and figures to their family and friends on the contemporary channels. Web-based technology can enable the business to spread their product’s information among the bulk of customers. Furthermore, social media enables a corporation to positively communicate with the consumers and also aids to convey information and thoughts regarding their products and services.
In contrast to this, Hajli (2014) evaluated that consumer buying behavior is the result of preference, attitude, decision and desire that are developed by consumers at the marketplace before buying the products and services. There are several factors that can influence the attitude of consumers towards products of Wesfarmers. These factors entail the psychology, culture, sociology, and anthropology. In this way, the psychology factor can highly persuade the decision making of consumers. There are certain processes that can be used by Wesfarmers to influence the buying decision of customers such as identification of concern, addressing the information, assessing facts and figures and providing post-purchase facilities. These phases help the Wesfarmers to persuade the buying decision of regarding goods and services in the least time and cost.
According toDessart et al. (2015), there is a specific type of buying behavior that can be focused by a company such as habitual, multifaceted, falling, conflict, and wide-ranging seekers. It is analyzed that complicated purchasing judgment demonstrates the higher participation of customers with particular brands. It is also analyzed that there isthe certain reason of implementing the social media marketing for customers such as an update on trends as an essential way for shopping, meet people and develops new contacts and review regarding products and corporations. It is also illustrated that there is a high amount of customers in Australia who give their preference to develop a relationship with others.
In opposed to this, DessartVeloutsou and Morgan-Thomas (2015) evaluated that there are certain components that may pull the attention of customers towards a particular brand. These components could be cultural, behavioral, social and emotional factors. Culture act as a key element to assess the belief of consumers as it involves the set of moral values, beliefs, language, laws,and traditions incorporated by a community, country and another specified set of the individual. In this way, culture is an effective element to influence the behavior of a person that entails culture of person, norms, customs and the functions that culture uses towards particular products and services. The requirement of culture should be highly assessed as; it may persuade the behavior of customers. On the other side, there are certain social factors that may influence the attitude of consumers. These social factors could be reference groups, family,and relatives that encourage the customers to purchase the particular brand.
Literature review
Stephen (2016) evaluated that the Howard-Sheth Model is a popular theory that is associated with the consumer buying behavior. This theory focuses on the concept of persuading the response that specifies choices of customers for buying particular products and services over a time duration. This theory incorporates certain factors such as input and output variable, construct variable and hypothetical and exogenous variables.
In opposed to this, Zhang and Benyoucef (2016) stated that learning model is another model that helps to increase the knowledge about buying behavior of the customer. It can be highly persuaded by the requirement for learning and satisfaction. Along with this, the customer has a high tendency to purchase the product, which will accomplish their needs along with, desires without conflict.
In support of this,Swani et al. (2017) discussed that there isthe certain conceptual knowledge that evaluates the impact of social media marketing on the buying behavior of the consumer. The social cognitive theory explained that the customer is active and emphasizes on building joint communication and improving the individual experience with the actual condition. It is illustrated that the social-ecological factor influences the rationale of the customer with respect to buying the products and services.
As per the view ofBalakrishnanDahnil and Yi (2014), social media favorably persuade the buying behavior of the purchaser. The social media enables the corporation to make a virtual home for their organization on the web of social media. It is illustrated that the company canget wider opportunities to the corporation in order to improve the visibility of consumer with regards to a particular brand. Social media facilitates both customers and business to convey to each other regarding particular data. In such way, freedom depicts that a customer can share their views, beliefs,and outlook regarding products and services on particular platforms as, it may be significant for business to identify the customer’s needs.
In opposed to this, Xiang et al. (2016) evaluated that an organization can gather the favorable and unfavorable opinion of customers with respect to products and services of the company through social media. In such way, unfavorable comments of customers about particular products and services can prone to diminishing the performance of the company. Therefore, an organization should make effective social media strategy to delete the negative responses of consumers towards their business. It will help the customers to control the business procedure of corporation. The social media marketing facilitates to develop existing facts and figures and helps to share it on a particular channel. This strategy can be unfavorable as the unfavorable criticizer can obtain the unfavorable responses to influence others.
Introduce academic theory
As per the view ofSigala (2016), social media marketing is beneficial to create the loyalty among consumers as it enables an organization to directly express with their possible consumers. As a result, the brand representative can aid an organization to make loyalty among customers. It is also evaluated that when a customer has a grievance and top management handle their grievance then, it would lead to declineanger the customer. In addition, social media permits the organization to provide their favorable responses between different customers with regards to unfavorable comment.
In against,Severi Ling and Nasermoadeli (2014) stated that word of mouth is significant for an investigator to increase the sales of the corporation. It is identified that advertising is an effective method to persuade the high amount of customers to purchase the products and services. The word of mouth influences a large number of customers at least time by spreading a single message among their targeted customers. By executing the social media, an organization can be competent to communicate with the bulk of consumers at one click of a button. It could be significant to enlarge the awareness with respect to particular products and services. The unfavorable data can be simply spread by a customer and can unfavorably impact on the goodwill of the company.
In the view of Lamberton and Stephen (2016), social media aids to segregate a largenumber of facts and figures about the products and services of the company. An organization can use different sources of social media for sharing the data regarding particular products and services. It may persuade the purchasing decision of consumers. The wider category of products and services helps the business to transform the normal consumers into researchers. It is also illustrated that a customer can exercise social media before making buying judgment regarding products and services. Thus, it can be stated that the favorable response can improve the chances of selling the product whereas unfavorable responses can lessen the revenue of particular products and services.
In contrast to this, Jung et al. (2016) evaluated that social networking is an essential tool that has gained the attractiveness of existing globalization situation. Social networking marketing can be implemented by a business for promoting their products and services. It can be economically efficient for a company as, it distributes the valuable information in minimum time to customers. Social networking practices provide the global connectivity to business. The communities and forums on social media enable an individual to interact with others and distribute their opinion as it would be advantageous for making final purchasing judgment. In addition, target advertising can be performed by using the online social network in the workplace. It is a significant strategy for spreading the data of company among the bulkof customers that could be dealt 24*7 hours.
Nadeem et al. (2015) exhibited that social networking plays an essential role to enhance the satisfaction level of customers. It is a significant technique for a corporation to persuade an organization with regards to products and services and enhances the profitability in the future. In addition, the consumer should be aware while consumer posts and comments on the page of the company because they highly influence the others towards products and services.
On the other side, Jin and Phua (2014) stated that the social network generates the awareness about the products and services between consumers. Thus, it aids the customer to make their own judgment. By using the social network, Wesfarmers can enhance the communication with the customers. Through different studies, it is perceived that the bulk of users has gained their online presence as; it generates the opportunity for the corporation to spread their business via the onlinechannel. It is evaluated that online communication is a comprehensive and rapid process that makes competent to the company for developing liaison with the customers.
Nadeem et al. (2015) recommended that a company should present authentic information among their targeted consumers on their contemporary platform as, it will be beneficial to influence the purchasing decision of consumers. Moreover, an organization can improve the effectiveness of the brand between customers by sending thebest message on a web-based platform. An organization should provide a distinctive message as compared with their key market participants because of developing a unique picture in the mind of customers towards their products.
On the other side, Jin and Phua (2014) examined that an organization can emphasize that their message should be clear, specific and precise as it could be able to influence the high amount of customers. It can be supportive for influencing the behavior of customers. It can be also recommended that an organization can keep in touch with their potential customers to persuade the purchasing behavior of customers. It can be effective for obtaining the maximum success.
In support of this, Jung et al. (2016) stated that the company should focus on developing higher consumer loyalty with regards to their brand by involving different social media channel. As a result, it can be supportive for improving the revenue of products and services in minimum efforts and costs. By using this social media market strategy, Wesfarmers can endorse their products and services by organizing a campaign on social media sites such as YouTube, Instagram, Snapchat, Twitters, and Facebook.
The above conceptual framework depicts the two variables in this research i.e. independent variable and dependent variable. In this way, the independent variable is social media marketing and the dependent variable is consumer buying behavior. It indicates that consumer buying behavior is depending on social media marketing. Hence, an organization can use different social media channels to influence the buying behavior of customers.
From the above discussion, it can be concluded that social media marketing is an electronic channel that aids to convey the message between business and customers. It can be also summarized that social media marketing has a positive impact on the buying behavior of consumers by using different channels such as Facebook, Twitter, Snapchat, and LinkedIn. It can be concluded that there are different social media marketing strategy to influence the buying behavior of customers such as effective communication, specific and precise message and organizing campaign on social media channels.
This research would not be competent to cover all the concepts of social media marketing strategies and concepts because of inadequate period of time. Statistical information that will be pooled about Wesfarmers may not be genuine because it is based on small sample size. The investigation would not be competent to provide depth understanding about innovation strategies due to lack of resources.
References
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