Social Media Channels for Business Marketing - MyAssignmenthelp.com

Question: Discuss about the Social Media Channels for Business Marketing. Answer: Introduction This research project has been conducted on the topic Advantages and disadvantages of using the social network in business. Advantages and disadvantages associated with the use of social network have been discussed in this research program. The social network has provided a platform to the business for promoting the products or services offered by the business. There has been a rise in the use of social networking platforms in business (DeMers, 2014). The scope of the social networking in business has been discussed in this research program. For the purpose of gathering this data, various methods or techniques have been applied. This research program has been conducted with an objective to develop the knowledge of the concept of social network and analysis of the trend of use of social network in business. The focus of this research will be on gathering knowledge related to the advantages and disadvantages of using the social network in business. The scope of the social network will be defined in this research. The scope of this research program has been focused on the various advantages and disadvantages of using social networking platforms in business. This research program will develop the knowledge of the scope of social network and the importance of social networking platforms for the businesses in this dynamic business environment. Objectives of the social networking in business will be discussed in the research. With the change in the business environment, there has been a change in the methods or measures used for the promotion of the products or services used. Social networking platforms are being used by the businesses for enhancing the customer base by attracting the customers towards the business. Different social networking platforms are available which are used by the businesses (Elison, 2007). Social networking platforms help the business in enhancing the performance and increasing the sales of the business. Different individuals have different views towards the use of social networking platforms in business. The analysis is made of the different aspects attached with the use of social networking platforms for making decisions regarding the use of social network (Fernando, 2012). There are various advantages associated with the use of social networking platforms which enhances the performance of the business. A social network is an effective tool for sharing information related to the products or services with the customers or potential customers. Businesses are using the social network for questioning the customers regarding the quality of the product and collecting feedback from the customers (Kumar, 2017). It has reduced the efforts and cost of the business which helps the business in focusing on the important aspects of the business. The social network is an effective way for the promotion of the brand and making the brand recognized. Businesses are capable of collecting information related to the taste, preference, and choice of the customers (Nadaraja Yazdanifard, 2013). With the increase in the use of social network, there has been a rise in the thefts and fraud due to which confidentiality of the business is at risk. The number of cyber crimes is increasing due to which concern of the business is increasing. There have been cases when the use of social networking has affected the reputation of the business in a negative manner. Social networking platforms are time-consuming which affects the functioning of other operations of the business. Competitors may take advantage of the information of the business available over the social networks (Sachs, 2016). Research questions/Hypothesis Primary question What are the pros and cons associated with the use of social network in business? Secondary questions What is the trend of use of social networking platforms in this changing business environment? What are the objectives of using social networks in business? Hypothesis Social networking platforms have reduced the efforts of the business and contributed towards the increase in sales and customer base of the business. Social networking in business can affect the business in a negative manner. Research methodology Research design or method: analysis has been made of the different research methods for the purpose of selecting the most suitable research method. Mixed research method will be used for initiating the process of data collection on the basis of which chances of successful completion of the research is dependent. Mixed research method will use qualitative and quantitative research methods (Nirmala, 2013). Research Philosophy: Interpretivism research philosophy has been chosen for this research program with a motive to develop knowledge of the manner in which researcher applies different methods for targeting the research issues and limitations. Data will be collected for identifying the advantages and disadvantages of using the social network in business (Winit-Watjana, 2016). Research approach: Qualitative and quantitative research approaches have been selected for the execution of this research program. Both these approaches will be used for gaining the required information regarding the research topic (Quick Hall, 2015). Data collection: for the initiation of the data collection process, data collection methods have been selected. Primary and secondary data will be gathered for conducting the research in a successful manner. Primary data can be defined as the raw form of data which a researcher collects directly from the respondents. Secondary data can be defined as the second-hand data which a research collected from the secondary sources (Johnston, 2014). Procedures and techniques: data collected is in large quantity and for the analysis of the data within the limited time frame; a random sampling technique will be applied. Random sampling technique will be used as this technique helps in analysis of the data where a selection of the sample is done in an unbiased manner (Kulshreshtha, 2013). Research strategies: A sequential explanatory strategy has been chosen for conducting this research program. This strategy will ensure that the research is carried out in a sequence. Choice: different approaches will be applied for executing the research and selection of these approaches have been made by properly analyzing different alternatives available. Research timeframe: An action plan has been prepared which include different activities. These activities will form the basis for the execution of the research program in a sequence and proper manner. Collection of data and targeted market: data collection process will be initiated by targeting the market from data will be gathered for this research program. Primary data will be gathered from the employees of companies using social networking platforms. Secondary data will be gathered from the internet sources (Smith, 2015). Ethical consideration: ethical considerations are crucial for the execution of every activity and these considerations ensure that the activity is carried out without harming the interest of any individual. While executing this research program, the focus will be on ensuring the reliability and authenticity of the data by conducting the research honestly, by maintaining confidentiality and presenting the data in a fair manner. Research Limitations There are few limitations which have been identified while conducting this research program. These limitations which could have affected the execution process of the research program need to be dealt with the use of different approaches or techniques. These limitations include lack of availability of time for conducting the research, lack of access to the information and lack of availability of resources for conducting the research. Time schedule (Research Plan) Sequence Activities Initiation date Duration (in Days) Completion date Description of the activity 1) Making decisions regarding the research topic 30 September 2017 3 02 October 2017 Selection will be made on the topic for the research program. 2) Construction of plans 03 October 2017 6 08 October 2017 Plans will be constructed for the purpose of initiating the research program. 3) Implementation of the plans 09 October 2017 8 16 October 2017 Plans formulated for the initiation of the research will be implemented. 4) Initiating data collection process 17 October 2017 11 27 October 2017 Data will be gathered by applying the suitable method for data collection. 5) Analysis of the data collected 28 October 2017 5 01 November 2017 The analysis will be done on the data collected. 8) Conclusion and recommendations 02 November 2017 2 03 November 2017 The conclusion will be drawn from the data analyzed. Conclusion Thus, at the end of the research proposal, it can be summarised that there has been a rise in the use of social networks in business. There are various reasons responsible for the increase in the use of social networks in business. Businesses are using the social network for enhancing the marketing function of the business and enhancing the performance of the business. Use of social network has affected the goodwill of the business and increases the chances of a threat to the confidentiality of the business. References DeMers, J., 2014, The Top 10 Benefits Of Social Media Marketing, [Online] Available at: https://www.forbes.com/sites/jaysondemers/2014/08/11/the-top-10-benefits-of-social-media-marketing/#5fd949de1f80 [Accessed on: 02 October 2017]. Elison, D., 2007, Social Network Sites: Definition, History, and Scholarship, [Online] Available at: https://onlinelibrary.wiley.com/doi/10.1111/j.1083-6101.2007.00393.x/full [Accessed on: 02 October 2017]. Fernando, P., 2012, Social Media And Its Uses, [Online] Available at: https://www.liquidlight.co.uk/blog/article/social-media-and-its-uses/ [Accessed on: 02 October 2017]. Johnston, M. P., 2014, Secondary Data Analysis: A Method of which the Time Has Come, Qualitative and Quantitative Methods in Libraries, pp. 619 626. Kulshreshtha, A. C., 2013, Basic Concepts of SamplingBrief Review: Sampling Designs, UNSIAP. Kumar, K., 2017, Top 10 Disadvantages of Social Media, [Online] Available at: https://www.thelucidblogs.com/top-ten-disadvantages-social-media/ [Accessed 25 August 2017]. Nadaraja, R Yazdanifard, R 2013, Social Media Marketing Social Media Marketing: Advantages and Disadvantages, Research Gate. Nirmala, Y., 2013, Chapter four: research design, Language in India, 13(2), pp. 102. Patrick, S., 2016, Small Business Digital Marketing and Social Media Habits in 2016: A Survey, Clutch. Quick, J. Hall, S., 2015, Part three: The quantitative approach, Journal of perioperative practice, 25, (10), pp. 192. Sachs, J 2016, The 7 Best Social Media Channels for Business Marketing, The Huffington Post. Smith, N.L., 2015, Using Action Design Research to Research and Develop Evaluation Practice, New Directions for Evaluation, 148, pp. 57-72. Surefire Local, 2011, Leveraging the Online Social Graph to Accelerate Your Local Business, Slideshare. Winit-Watjana, W., 2016, Research philosophy in pharmacy practice: necessity and relevance, International Journal of Pharmacy Practice. Source: (Patrick, 2016)