Impact of Social Media on Consumer Decisions

Question: Discuss about theImpact of Social Media on Consumer Decisions. Answer: Introduction: The web 2.0 emergence happened to be a significant development towards history of commerce. The social media being the other buzzword that on web 2.0 based is a revolution that not only helps encourage contents those are user generated but also focuses that allows users to exhibit contents and share between networks (de Kervenoael, Aykac, Palmer, 2009). This technical revolution especially presently in last decade drastically has revolutionized the tradition approaches of marketing with the help of social media marketing. This new era of marketing revolutionized the marketers relationship with their distribution channels, retailers and consumers. Being information age the consumers with overwhelming information quantities are overburdened every day (Evans Cothrel, 2014). Thus looking at numerous campaigns related social media, e-commerce websites, forums, sales emails etc. suggest all companies moving towards internet marketing approaches for target audience accessibility and required money in doing so. The approach related traditional advertising of mass communication media like television, magazines and newspaper aims towards conveying to broader audience group messages with the hope in reaching interested few. With much of the stimuli bombardments, the individuals have become more cautious and adjusted to information seeking (Clarke, 2014). Therefore, it is necessary for Wesfarmers to understand reasons regarding particular concern of consumers and seek ways towards speaking individually, or in small groups to customers. Social media marketing is another alternative for interfacing with the consumers to understand their perspective. Therefore, social media focuses on the consumers with market and business perspective that helps marketers with new tools for interacting with the consumers and integrate these onto the brands through process of innovation. Hence, the research aims towards evaluating the impact of the social media on the consumer decisions that requires Wesfarmers a large and successful retail company in Australia with own retail chains has to understand the impact of social media that influences the consumer behaviour related to buying (Wesfarmersonline, 2016). Literature Review and Theoretical Background According to the Janowski and Mohanty (2010), advancement of the internet and Web 2.0 emergence the interconnectivity on the internet has expanded between the individuals. This has helped immensely to enable the development to collaborate on internet among the businesses and the customers. This having emerged based on the social media, that has enabled the consumers with generating content and conduct the online social interactions through the social platforms. There exist various social media tools and platforms, which have facilitated the sharing of information. These tools for instance such as the Wikipedia, an encyclopaedia free online, is one such most popular platform that provides the users with the facility to collaborate through information sharing. The other platforms provide ability related to generating ratings and reviews like the Amazon.com that enables the customer with facility to review the products and rate them. Further, these platform members are interdependent co operatively (Hudson Thal, 2013). The consumers using the social media can create the content and offer to the others valuable advice. The online communities with these new developments and the individuals emerge using this electronic network on the social platforms where these members share quickly and globally the information. The social networks rise has provided with new era related to the creation of content that has given the individuals to share easily the information and the experiences with other social network users (Forbes Forbes, 2013). The online businesses related to next generation shall be according to communities that is better tool for attraction of new customers. Heinonen, (2011) stated that, online communities provide opportunity to companies with good system related to managing customer relationship with new developments to improve business performance. Further, assuming these platforms through social interaction the members become familiar to each other providing trust source possible that greatly influence users buying intention. Simultaneously, it is vital to have business model that adapts to social commerce for companies. Thus, social media provides businesses opportunities to become universally more attractive through the social interactions of the consumers that affect their deci sions. The Hypothesis and Research Questions Hypothesis Null Hypothesis (H0): Social media influences the consumer decision Alternative Hypothesis (H1): Social media do not influence consumer decision Research Questions What factors influence consumer decision process in products and services? How social media influence consumer decision process in Wesfarmer? How influence the consumer decision process related to products/services through social media in Wesfarmer? The Operation and Measurement Definition The study is been based on variables and link impact investigation (Cabosky, 2016). The variables that study uses both dependent and independent variable with social media as dependent variable, which is important part, and consumer decision process as independent variable The Research Design and Methodology: Analysis and Data collection Sampling Techniques This study focuses on primary and secondary data collection. The primary data through both quantitative and qualitative collected. The quantitative data collected from customers through survey method and qualitative data through interview process collected from Wesfarmers managers (Shelton, 2013). Additionally the secondary data collected both from online and offline sources such as journals, websites, newspapers, business magazines and library sources. Through the probabilistic sampling process, the customers surveyed are selected by giving them to participate equal opportunity in survey process. Alternately, through non-probabilistic sampling technique the managers being interviewed are chosen. This is conducted based on the participation process and busy schedule. Customers: Hundred Managers: Three Method of Analysis The quantitative data represented via tools, statistical techniques like graphs, tables, pie chart, and SPSS software while qualitative data is reflected through analysis and presentation (Page Pitt, 2011). Research Process Week 1 Week 2 Week 3 Week 4 Week 5 Week 6 Week 7 Week 8 Week 9 Week 10 Main Activities/ Stages Selection of research area Developing aim, objectives, research questions and research proposal hypotheses Preparation Conduct literature review Identification and selection of data collection methods interview/survey, ethics form preparation Collecting primary data Analyzing data Comparing findings Conclusion recommendations à ¯Ã¢â‚¬Å¡Ã‚   collecting feedback from mentor à ¯Ã¢â‚¬Å¡Ã‚   à ¯Ã¢â‚¬Å¡Ã‚   à ¯Ã¢â‚¬Å¡Ã‚   à ¯Ã¢â‚¬Å¡Ã‚   à ¯Ã¢â‚¬Å¡Ã‚   Finalization and submission Result Expected This study provides that social media impacts consumer decisions regarding Wesfarmers products/services. Conclusion The research helps to conclude the fact that in making purchase decisions are impacted with information that social media provides that helps in decision making regarding products/services. The process is linked with aims and objective towards effectively achieving it. 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