Impact Of Social Media As A Promotional Tool For Grey Market Players

Introduction: Background of the research

Discuss about the Impact Of Social Media As a Promotional Tool For Grey Market Players.

Social media has been considered as the most significant e-marketing tool for various markets in the world.  Social media has been providing accessibility to customers in purpose of understanding their interests and expectation form companies in the market (Wamba & Carter, 2016). Social media connects millions of people from all over the word using various platforms including Twitter, Facebook and YouTube.  The use of social media in various fields has been helping in promoting various products and services of companies in the market.

This research focusses on the importance of the social media as the marketing tool for the grey market. The use of the social media as a marketing tool has been helping in maintaining and connecting with different people all over the world ire the internet (Nawaz, Salman & Ashiq, 2015). Customers used to maintain a keen approach to the grey market.  The grey market refers to the black market in order to sell various products at low prices that ha original market. Social media marketing can be developed by any organization in order to maintain a proper approach to the market all over the world. This research helps in identifying the impact of the social media as a marketing tool in the grey market.

Social media platform has been creating a concrete place in the market as a marketing tool.  The use of the social media in different perspective has been mentioned in the research paper. The use of the social media as marketing tool has been helping in maintaining and increasing the brand value of any industry or organization (Zhang et al., 2015). This internet based services has helped in maintaining a keen approach to the market for the customers. Increase in the information technology in the market has been creating and providing opportunity to the business organization in order to marmite their services and products in the market. However, the popularity of social media has been increasing in the market with the changing demand in the market (Ramanathan, Subramanian & Parrott, 2017).

The grey market has been helping in minimizing the price of various luxury products including watches, furniture and jeweler. However, the expansion if the grey market has been rising in the world.  Most of the customers are focusing in the grey market as the process of the luxury product are minimum in the grey market. The use of the social media might help in increasing the demand of the grey market sin the world (Jones, Borgman & Ulusoy, 2015).

Rationale

The grey market has been rising n all over the world and providing opportunity for high profits, contract violation by distributes and other stakeholders. Various brokers are involved in the grey market, who are providing product s at low cost than the original market.

This research throws might in expansion of the grey marmite al very the world with the implementation of the social media marketing (Filo, Lock & Karg, 2015).  The use of the social media marketing has been described in the research.  The use of the social media as a marketing tool has been provided in this research.  This concluded with the challenges of the implementation on social media on the grey marmite.

The use of social media has been helping in increasing sales of products and services in the market.  Some studies focuses on the importance of the social media as a powerful tool in the market. However, some argue that the grey market has been creating a negative image in the security and is illegal to use social media as a marketing tool in the grey market.

The interaction of the social media with the grey market might help in increasing sales of luxury products at a low costs. Therefore, this has been a topic for research about the impact of the social media as a marketing tool over the grey market.

The aim of the research is to analyze the impact of the social media as marketing tool in the grey market.

The objectives of the research are as follows:

• To identify the benefits of the social media as marketing tool
• To analyze factors affecting the grey market
• To implement strategies for implementing social media as a marketing tool in grey market

The research questions are mentioned below:

• What are the benefits of the social media as marketing tool?
• What factors are affecting the grey market?
• What are the strategies for implementing social media as a marketing tool in grey market?

The research proposal might look for the expected outcomes at end of the study. It might help in understanding the impact of social media as a marketing tool in the grey market.  The motivation of using social media as a marketing tool in the grey market can be justified.  The benefits f the social media as a marketing tool might be analyzed by the end of the research. It also provides an analytical framework for understanding the grey market and its benefits. The results of the research might help in maintaining a proper approach to implementation to social media marketing tool.

Web-based social networking is gathering of a few channels of online correspondence that are exclusively committed for information sources depend on group, huge cooperation, sharing of substance and better connections (Kumar & Reinartz, 2018). The sites and additionally the applications, which are devoted to person to person communication, discussions, informal communication, small scale blogging and different others inside the online networking composes. Online networking has turned into the most vital and essential piece of the clients since the web-based social networking sites and in addition the applications is multiplied (Hampton et al. 2014). The most conventional methods for web-based social networking predominantly includes a few social parts including remark fields for clients. Inside a particular business or association, this online networking is used for advertising the items, advancing the brands, cultivating new organizations and interfacing with their new customers (Chen, De & Hu, 2015). The web-based social networking investigation is the best possible routine with regards to gathering and keeping information from every one of the sites of online networking or s and consequently examining those information for taking or settling on different business choices. The most essential usage of the web-based social networking research is for digging the client conclusion to support advertising and different client administrations exercises.

Problem Statement

The organization can without much of a stretch approve the brand with the assistance of this web-based social networking. There are different online networking organizing locales display in this day and age. The most and well known interpersonal interaction locales that are in current practice for the most part incorporate Facebook, Twitter, Instagram, LinkedIn, YouTube, Google+, Pintrest, Snapchat and Foursquare (Buhalis & Mamalakis, 2015). Additionally, the online networking is in charge of bringing out more achievement in business by methods for advertising any item for the organization.

According to Fuchs (2017), web-based social networking is considered as a standout amongst the most essential and additionally noteworthy necessities in this day and age. Online networking involve different highlights with it. The most critical highlights of this online networking are as per the following:

1. Web Space: The first and principal highlight of web-based social networking is web space. The site of online networking must give their clients totally free of cost web space to upload any substance (Al-Badi, Tarhini & Al-Sawaei, 2017).
2. Web Address: The second huge component or part of online networking is web address. Hollebeek, Glynn and Brodie (2014) express that clients of online networking are furnished with a one of a kind web address. The clients along these lines can share and additionally post every one of the substance on the particular web address.  

Connection with Peers: The fourth critical normal for web-based social networking is the association with companions. The clients are empowered for posting a wide range of expert and individual reports with respect to themselves (Nah and Saxton 2013). The site of online networking, consequently turning into an essential stage for the association of companions and relatives.

1. Uploading  in Real Time: The clients are given legitimate apparatuses and methods for posting appropriate substance inside ongoing. The substance could either be sound, video, pictures or any emblematic likes or aversions. Because of the association of ongoing, the online networking is greatly mainstream for its clients.
2. Enabling Conversations: The discussions of the clients are effectively empowered with the assistance of online networking. As indicated by Luo, Zhang and Duan (2013), they are given the rights in remarking on different posts and in this way, an incredible social associate is improved.
3. Posts having Time Stamp: The following huge element of the online networking is the posts on the web-based social networking have time stamp. Since, every one of the posts are in the end stamped with time, the whole technique of following any post is to a great degree simple than others.

Hampton et al. 2014 express that when every one of the correspondences channels are devoted to the group based sources of info, communications and sharing of substance together, they are by and large known as web-based social networking. The straightforward system of sharing of substance is all things considered known as the web-based social networking. There are different favorable circumstances or advantages of this online networking. These points of interest are given underneath:

1. High Connectivity: The first and the preeminent preferred standpoint of the online networking is amazingly high availability. The whole availability in the whole world is to a great degree progressed and therefore the clients can without much of a stretch associate with all other individuals. According to Marwick and Boyd (2014), there is no such confinement that the online networking could be gotten to from a particular part. The musings could be effectively imparted to the assistance of web-based social networking.
2. Providing Education: The second critical favorable position of this online networking is to give legitimate instruction to the clients. This is valuable since the educators and the understudies are getting profited from this and consequently the specialists and experts could without much of a stretch access the data or information through the online networking (Weaver & Willnat, 2016).
3. Information and also Updates: The third huge advantage of the online networking is the data and updates. As per Ashley and Tuten (2015), the clients can without much of a stretch refresh about themselves from the most recent happening and happenings in the encompassing. TV and the print media in present day days are completely one-sided and in this manner don’t pass on any obvious message. With the usage of online networking, the realities could be effortlessly gotten as is the genuine data in the wake of doing important research.
4. Inducing Promotion: The following huge preferred standpoint of the online networking is that it helps in advancing any business, item or administration. Duggan and Brenner (2013) express that since, the whole world is available to the client; they can without much of a stretch advance their business or items. This aides in making the organizations amazingly productive and furthermore more affordable as the greater part of the costs that are made over a particular business are for the motivations behind ad or advancement (Parveen, Jaafar & Ainin, 2015). This could be effectively lessened by always and additionally frequently getting included on an online networking stage for the fruitful association with the intended interest groups.
5. Noble Cause: according to Gerbaudo (2018), the following imperative advantage of the online networking predominantly includes the prerequisite of honorable aim. This specific sort of stage is additionally used with the end goal of honorable purpose. For an illustration, the entre idea of advancement for the social welfare exercises or gifts for the penniless individuals is a to a great degree huge honorable motivation and this is effectively finished with the assistance of online networking. Since, every one of the general population are associated on the Internet; these kinds of causes could be effortlessly advanced.
6. Providing Awareness: The following imperative advantage of the online networking is mindfulness. Gikas and Grant (2013), express that this sort of stage is used likewise for the mindfulness or inventive technique the clients are living in. It is the essential online networking stage that is being in charge of helping the clients in finding all the new and also inventive stuffs, which could without much of a stretch upgrade the individual existences of the general population (Tess 2013). Every last individual of the general public is profited from the stages of online networking and thus, it is an imperative factor of mindfulness.
7. Helping Government and also Security Agencies for Fighting Crime: The following vital preferred standpoint of the online networking is that they help the administration and also every one of the offices in battling wrongdoing or such issues. A standout amongst the most noteworthy preferences of this web-based social networking is that it assists Governments and Security Agencies with spying and catch culprits to battle wrongdoing (De Choudhury et al. 2013). Because of the nearness of this specific preferred standpoint, web-based social networking turns out to be unequivocally vital and crucial for every one of the clients.

This research will use a quantitative research approach. Research philosophy is for the most part used for inspecting and also relating the nature and additionally nature of information. It contains different presumptions that are particularly required for complete the investigation appropriately and additionally adequately. The primary goal of the exploration is to picture proper relationship among different procedures and in addition information that are used for creating and in addition planning the optoelectronics gadget. There are essentially three kinds of research reasoning, which are talked about beneath:

Realism: It manages the logical enquiry of the exploration paper. It helps in seeming well and good with the goal that they can discover reality in objects.

Positivism: It is one of the applications for understanding the logical technique, which helps in clarifying this present reality. This theory helps in inquiring about legitimate techniques and also targets for taking care of different research issues.

Aims, Objectives and research questions

Interpretivism: This rationality helps in upholding and it is required keeping in mind the end goal to recognize among different parts of social on-screen characters and additionally human.

In this research study, positivism is the method that is utilized for collecting secured as well as hidden information which are related with the topic of research. Distinct: The research configuration is directed for upgrading the information of the scientists keeping in mind the end goal to pick up learning about the chose theme (Barreda et al., 2015).

Exploratory: It helps in producing theory by giving appropriate research of informational collection and afterward it looks towards different potential relations. On the off chance that the research is directed by the researcher inside the theory then the investigation is considered as informative.

Descriptive: It is connected with different new thoughts to such an extent that the researcher can comprehend the impacts of the research appropriately (Broekemier, Chau & Seshadri, 2015).

In this research ponder, distinct research configuration is used as it helps in giving hypothetical system to the investigation. It helps in giving data about the chose investigate subject. There are number of constraints of the exploration ponder, which are looked by the researcher while directing the research. Data has been collected from both primary data collection method (Inversini & Masiero, 2014).  There are 55 participants to whom 10 survey questionnaire will be send through survey form. The confinements include:

Time requirement: The researchers does not have fitting time for inquiring about on the point considerably more which raises various constraints.

Spending imperative: The exploration needs legitimate sum of stores and subsequently quality investigation of the archives that are connected with the research are not finished on time (Daugherty & Hoffman, 2014).

Degree requirement: The researcher cannot meet the extent of research fittingly. A portion of the members that are related with the task are not taking legitimate intrigue and in this way the expectations of the undertaking are met on time.

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Expected research Outcome

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