Market Paradigms Issues and Challenges – Social Network Marketing
1.0 Introduction
In the era wherein technology affects every individual directly and indirectly, internet presence is critical particularly for companies that are motivated to grow fast ahead of the competitors, grow in line with the industry or to simply catch-up and defend an existing status. Such a strategy aimed at increasing the organisation’s operational efficiency especially that operation is increasingly becoming boundary-less. Apart from e-mails, internet forums, blogs, minisites, search engine listings, web directories and websites, internet presence is made possible by social networks. Social networks technically refer to social structure made of individuals which are called nodes and is connected online. Famous social networking sites are MySpace, Facebook, Multiply and orkut among others.
Since the goal is to commercial diversity the target market, social network marketing is applied. This is an advertising method that makes use of social network services and to increase the web presence of a specific company. Advertising tactics range from direct advertisements and viral marketing which spreads throughout the site. Likewise, advertising could take the form of providing niche social networking sites which focuses on specific products and brands. One of the most used advertising medium in social networking sites is the creation of a commercial profile. Companies can create pages whereby users of the site can view, browse and even become fans of such a company and its products and services.
2.0 Problem Statement
The effectiveness of social networks-based marketing strategies is an area that is unexplored. A major challenge therefore is to evaluate the value and usefulness of social media marketing. The key question that will be answered in this study is – How effective are social network sites as a new medium of advertisement? Other research questions to be given answer to are:
1) What are the advantages and disadvantages of social network marketing to the companies?
2) What are the limitations of social network marketing?
3) What makes social networking sites suitable for advertising?
3.0 Study Objectives
The main aim of this study is to evaluate the effectiveness of social network sites as an advertising medium. It also aims to assess the value and usefulness of social networking sites in terms of building brand awareness. Specifically, the study purports to:
· Determine the benefits and detriments of social network advertising
· Distinguish the limitations and challenges of social network advertising
4.0 Methodology
The research strategy that the study will utilize is the descriptive method. A descriptive research intends to present facts concerning the nature and status of a situation, as it exists at the time of the study (, 1994). It is also concerned with relationships and practices that exist, beliefs and processes that are ongoing, effects that are being felt, or trends that are developing (, 1970). In addition, such approach tries to describe present conditions, events or systems based on the impressions or reactions of the respondents of the research (, 1994).
In this study, primary and secondary research will be both incorporated. The reason for this is to be able to provide adequate discussion for the readers that will help them understand more about the issue and the different variables that involve with it. The primary data for the study will be represented by the survey results that will be acquired from the respondents. On the other hand, the literature reviews to be presented in the second chapter of the study will represent the secondary data of the study. The secondary sources of data will come from published articles from books, journals and theses and related studies.
5.0 Timeframe
TASK
Weeks
1st
2nd
3rd
4th
5th
6th
7th
8th
9th
10th
11th
12th
Read literature
Finalize objectives
Draft literature review
Devise research approach
Review secondary data
Organize survey
Develop survey questions
Conduct survey
Analyze secondary and primary data
Evaluate data
Draft findings chapter
Complete remaining chapters
Submit to tutor and await feedback
Revise draft and format for submission
Print, bind and submit
6.0 References
7.0 Questionnaire Draft
I. Personal Information
1) Gender
¨ Male
¨ Female
2) Age
¨ 3-11 years ¨ 12-19 years
¨ 20-27 years ¨ 28-35 years
¨ 36-43 years ¨ 44-51 years
¨ 52-59 years ¨ 60-67 years
3) Civil statues
¨ Married
¨ Single
¨ Never married
¨ Separated
¨ Divorced
¨ Widowed
4) Which social networking sites are you currently using?
¨ MySpace
¨ Orkut
¨ Multiply
¨ Friendster
¨ hi5
¨ Jaiku
¨ MEETin
¨ Bebo
¨ Others
4) How long have you been using this site?
¨ Less than 1 year
¨ 1-3 years
¨ 4-6 years
¨ 7-9 years
¨ 10-12 years
¨ 13-15 years
5) How often do you typically use the site?
¨ Once a day
¨ Two to three times a week
¨ More than three times a week
¨ Several times a month
6) Have you encountered advertisements on the social networking site you are using?
¨ Yes ¨ No
7) What type of social networking advertisement do you usually encounter?
¨ Floating ad
¨ Expanding ad
¨ Polite ad
¨ Wallpaper ad
¨ Trick banner
¨ Pop-up
¨ Pop-under
¨ Video ad
¨ Mobile ad
¨ Map ad
II. Advertisement Attributes
Directions: Encircle the number that best corresponds to your answer.
1 - Strongly Agree
2 - Agree
3 - Uncertain
4 - Disagree
5 - Strongly Disagree
8) Ad catches my attention very well 1 2 3 4 5
9) Ad message is understandable 1 2 3 4 5
10) Advertisement is believable 1 2 3 4 5
11) Advertisement is very convincing 1 2 3 4 5
12) Ad’s message is relevant to me 1 2 3 4 5
13) I would consider purchasing the advertised product 1 2 3 4 5
III. Advertisement Effectiveness
14) Will you ever mention this ad to other users?
¨ Yes ¨ No
15) Did other users mention this ad to you?
¨ Yes ¨ No
16) Did you find the advertisement appealing?
¨ Yes ¨ No
17) Are you going to actually buy the product?
¨ Yes ¨ No
Credit:ivythesis.typepad.com
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