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Research Method Essay Example

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Research Method

Therefore, these businesses are using all means possible to minimize the costs of operations. One of the strategies they are using is reducing the costs of advertising which has been taking a huge chunk of the firms’ profits. However, in order to maintain their competitive advantage, the companies are forced to look for other alternatives. Social media has become a critical alternative which is cheap, effective, and reliable. With the changes in the technological sector, many people have internet enabled devices such as phones, laptops, and tablets (Bodnar & Cohen 2012). As a result, they have access to the social media. Many of them have shifted their attention towards this channel in search of products or customer views concerning their products of choice. This has attracted the attention of the markers, who are using the channel to reach the target market.Young people form the largest market segment. Initially, companies were taking the market as a single unit. However, nowadays, market segmentation has become an important concept towards understanding the needs of the customers (Charlesworth 2009). Nevertheless, with the changing tastes and preferences of the customers, it has become very hard for the company to understand these changes without conducting an in-depth marketing research. Social media has closed this gap by enabling the business to collect the views of the customers. This is critical in understanding factors that affect the consumption behavior of the target market. This is more critical when the company is dealing with products or services that are consumed by the young generation (Evans 2008). The reason is that this segment is swayed easily by the substitutes in the market. Therefore, the company should keep up with their demands in order not to lose them to the competitors.In order to get in-depth information concerning the topic under study, a semi-structured interview was conducted. The interviewees were selected randomly in order to avoid any form of biasness that would affect the overall results of the study. The sample to be used in the study was determined using the following formula which was developed by Kothari in 1989:According to the results, 25 respondents have used social media to search for their products of choice. However, 20 of these respondents are at an age of 18-35. This is an indication that social media is popular among the young people. In addition, they check for

References

Barefoot, D., & Szabo, J. (2010). Friends with benefits: A social media marketing handbook. San Francisco, CA: No Starch Press.

Bodnar, K., & Cohen, J. L. (2012). The B2B social media book: Become a marketing superstar by generating leads with blogging, Linkedin, Twitter, Facebook, email, and more. Hoboken, NJ: Wiley.

Charlesworth, A. (2009). Internet marketing: A practical approach. Amsterdam: Butterworth-Heinemann.

Evans, D. (2008). Social media marketing: An hour a day. Indianapolis, IN: Wiley.

Evans, D. (2010). Social media marketing: The next generation of business engagement. Indianapolis, IN: Wiley Technology Pub.

Kabani, S. H. (2013). The zen of social media marketing: An easier way to build credibility, generate buzz, and increase revenue.

Kerin, R. A., Hartley, S. W., & Rudelius, W. (2013). Marketing. New York: McGraw-Hill/Irwin.

Rohm, A. (2014). Herding cats: A strategic approach to social media marketing. New York: Business Expert Press.

Tuten, T. L. (2008). Advertising 2.0: Social media marketing in a Web 2.0 world. Westport, CT: Praeger.

Tuten, T. L., & Solomon, M. R. (2013). Social media marketing. Boston: Pearson.

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preview essay on Research Method
  • Pages: 6 (1500 words)
  • Document Type: Essay
  • Subject: Marketing
  • Level: Undergraduate
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