Literature Review Impact of Social Media Marketing

Question: Discuss about the Literature Reviewfor Impact of Social Media Marketing. Answer: Introduction With the social media gaining considerable popularity in recent times, increasing numbers of businesses are adopting this platform in order to extend their reach to increasing numbers of people. While social media is fast becoming one of the potent tools of marketing, one of the questions that remain persistent is its effectiveness in influencing the purchasing behaviour of the consumer. Hence, the basic objective of this specific literature is to stud the literary sources which are related to the mentioned topic have been studied in order to understand the nature of consumer and how the social media marketing can influence it. Analysis of Literature Fuchs (2013) explains that the social media is a platform where the content of the web is altered and shared by the users at any given time. The complex aspects of the social media have been explained in this given literature which elaborates on the positive and negative aspects of the social media platform. The requirement of information regarding the media has been established with case studies on Facebook, Google, WikiLeaks and Wikipedia. Thus, the potency of the media landscape in this new platform is explained. It can be said that the various aspects of the social media has been explained with appropriate case study. However, the effectiveness of the same on the behaviour of the regular users is explained in limited manner. Asur and Huberman (2010) explain the social media content can be utilised in order to predict the outcomes in the real world. In order to acquire effective conclusions, the authors delved into further practical studies. It was maintained that the twitter chats were utilised in order to predict the revenue of box office of movies. It can be said that the effectiveness of the viral marketing were further studied as well to make sure that the effectiveness of the social media is predicted in a proper manner. Furthermore, it was also detected how the excitement of the potential consumers available on the social media is one of the major factors that decide the fate of any specific film. In their study of social media marketing, Bashar et al. (2012) notices that the effectiveness of the social media marketing can be established only when the regular information are updated in accordance with the requirement of the consumers. On the basis of the empirical study of 150sample size who is regular users of social networking sites, it was recommended that in order to provide the consumer with what they want, it is important that the transactional relationships are translated into social relationship. Thus, the effectiveness of the marketing tool is explained with the help of primary resource. On the other hand, another aspect of the social media as a marketing tool has been explained as well. It can be seen in the study undertaken by Hays et al. (2013) that the social media is one of the potent tools which can make sure that any business is able to reach a wider number of target customers with utilization of limited resources. The prominence of these platforms as the suitable factors of destination marketing organisation has been elaborated as well. The destination marketing organizations of the top 10 most visited countries are studied with the help of semi structured interviews. It can observe from the study that the usage of the social media among the DMOs is still not that relevant. However, various experimental procedures are conducted which can be effective in ensuring that the useful business strategies are implemented to witness considerable growth for the business. Tuten and Solomon (2014) describes that in order to make sure that the social media marketing is able to acquire the set targets and able to reach any business towards considerable goals, it is important that the suitable application of strategies are done. It is essential that the most fitting strategy is selected for any given company and it is applied in such a way that it suits the business. In addition to this, it has been elucidated in the study that how the esse4ntial theories of marketing can be practically applied in the practical sphere and how the most beneficial business results are acquired properly. It has been explained in the study by Rani (2015) that the consumer behaviour is dependent on multiple factors that prompt them to buy any specific product from any given company. It has been determined by the researcher that one of the most common feature that influences any consumer is the ability to communicate with the utilisation of appropriate media channels. It has been further observed that with the help of appropriate communication, a standard connect with the consumers can be established which, in turn, will make sure that the consumers are able to comprehend about the features of a certain product and buy it to meet their specific requirements. In support of what has been observed by Rani, it can be observed in case of Schiffman et al. (2013) that the consumer behaviour is dependent upon the capability of any company to attract and retain the attention of the target consumer. Hence, it is important that the suitable market research is done in order to make sure that the correct segmentation is being targeted. Thus, as pr the explanation of the authors, it has been inferred that the companies delve into various strategies to make sure that the faith of the target customers can be channelized and retained in order to get the suitable and profitable business outcomes (Di Pietro and Pantano, 2012). By making sure that considerable channels are utilised to not only reach the message to the potential buyers, but it also ensures that the target customers are able to express their satisfaction or dissatisfaction in a proper manner. However, it has been explained by the authors that capturing the attention of the customers is not enough to ensure the manipulation of customer behaviour. It is important that the attention is converted into interest. Thus, the requirement of engaging into proper communication channel can said to be an effective manner. The acceptance of the consumer towards a product is important to make sure that the organisation is able to get the standard reputation in the market (Schiffman et al. 2013). Hence, understanding their requirements and perspectives has been recognised by the authors as well. Thus, the essentiality of strategies to influence the consumer purchasing behaviour has been recognised and elaborated by the authors. While social media is considered as a major tool in marketing these days, the perceptive power of the consumers regarding the same has been explained by Solomon (2014). It has been observed by the author that in order to make sure that the consumer behaviour is affected by the social media marketing, it is important that appropriate measurements can be done. The general feeling of any consumer regarding a certain scenario of marketing in any marketplace is required to be considered. Hence, the concept of the Consumers sentiment toward Marketing (CSM) has been recorded by the author as a potent tool to determine whether they are motivated enough to purchase a certain product or service which is being marketed on the online platform (Taylor et al. 2012). However, Fan and Gordon (2014), notices that in order to make sure that the social media is the suitable method to reach the wider mass, it is important that the consumers are able to utilize the technology in a proper manner. It has been mentioned by the author that the underutilization of the available technology by the users may result in unrewarding business approaches. Thus, the consumer behaviour in perceiving the marketing tool needs appropriate understanding from the part of the consumer as well. In accordance with the study of Mady (2011), it can be stated that the innovation Process Adaptation (IAP) is a standard instrument which can be utilized to determine the acceptance of the technology by the consumers. The innovation-decision process is extended by the IAP process that prompts a decision among the consumers either to receive or reject any particular innovation. Five step of the process have been further explained that consist knowledge regarding the innovation, formation of a specific attitude towards the innovation, decision to adopt or decline the innovation, implementation of the said innovation and lastly, confirmation of the taken decision (Mady, 2011). Thus, with the help of tools as such, it will be easier for any marketing campaign on social media to determine whether their strategies will be acceptable to the mass or not. Thus, a fulfilling campaign can be organized. It has been observed by Shankar et al. (2011) that the digital platforms are providing the customers with better powers. It was noticed by the authors that increasing numbers of marketers and retailers are using the online platforms to reach the target customers. It has been explained that the technological advancement which include better search engines, advanced interface, interactive platforms have provided the scope for the marketers to make their presence felt by the target customers. The trend of shopper marketing has been explained as well. Thus, it has been inferred that the more people perceive the online marketing, their willingness to purchase the goods are likely to get more influenced. It has been further elaborated that being an interactive platform, the social media have enough potential to make sure that the consumers can interact with the marketers and their requirements are served in a proper manner (Ho and Bodoff, 2014). As identified by Leonardi (2014), social exchange is considered as one of the most relevant theories while the online marketing is being taken into consideration. It can be said that the interactive platforms are providing the consumers ample numbers of opportunities to create content regarding any specific company. Thus, it can be seen that the social media is no more restricted to portray the target customers as passive participants. The essentiality of maintaining sound relationship with the customers has been recognized by the authors that the communication investments are required to be taken seriously (Ngai et al. 2015). It can be said that one of the main reasons of concerns is the aspect of honesty in the4se platforms. While increasing numbers of people are having access to the social platforms, the customers may get influenced by the dishonest portrayal of a company by unreliable sources as well. Biswas and Royn (2015) explain that taking into considerations the customer insights is essential. They point out that the preferences of the consumers are getting more and more influenced by several factors. Since their preferences and tastes are ever changing, it can be said that in order to suit their fancy, the social media marketing is required to take into consideration that their opinions are heard. Thus, by making sure that variety is on offer, the marketing strategies can be able to acquire the desired success in a conventional way. Literature Gap While it can be seen that elaborate research and studies have been undertaken by several researchers regarding the variables, it can be said that there lies considerable gaps as well. While marketing is one of the essential factors in growth of any business, it is important to make sure that the correct channels are utilised to reach the mass. On the basis of the recorded literature, it can be observed that most of the studies have been descriptive in nature. While the existing scenarios and scopes for the marketers to utilise the social media for influencing the target customers have been provided, what remains missing is the factor that the practical implementation of these concepts have not been studied in details. In addition to this, it can be noticed that the majority of the literature are written with the marketers point of view. Thus, the behaviour of the consumer is hugely assumed as passive. The perspectives of the consumers are required to be studied and explored more to d erive a balanced conclusion. It can, hence, be said that the requirement of wider perspective emerges while studying the impact of social media marketing on consumer behaviour. Conclusion Thus, it can be inferred from the above literature review that the social media marketing has emerged as one of the most conventional tools for both, the marketers, as well as, the consumers. It can be observed that the wider reach of the social media can ensure that the suitable target audience is reached. However, the requirement of acceptance of technology is important to make sure that the message is reaching the audience in a clear manner. In addition to this, it is also important t take into account that the interactive platforms are provides a two way communication. Hence, establishing a standard relationship with the consumers is necessary to make sure that the business goals are achieved effectively. Reference List: Asur, S. and Huberman, B.A., 2010, August. Predicting the future with social media. InWeb Intelligence and Intelligent Agent Technology (WI-IAT), 2010 IEEE/WIC/ACM International Conference on(Vol. 1, pp. 492-499). IEEE. 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