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The Sociological Processes Of Exchanging Goods And Services Business Essay

Sociological process of exchanging goods and values between individuals or group of people is called marketing (Simkin, 2000). Social network marketing is otherwise referred to as internet marketing. Different methods of internet marketing are available in recent times. The quicker and wider reach of the social network marketing feature is the most important advantage of this marketing feature (Gay et al, 2007). Although numerous people are aware about the social marketing feature, its existence to people has been familiarized by numerous advertisements made by it in various forms.

Numerous advertisements are also made in these sites by numerous institutions for the cause of advertising them to the outer world due to the people involved in using them. Internet is a popular source to market a product in a most effective way. Online marketing ensure success in the business transactions (Gay et al, 2007). Any type of product can be marketed through the internet with very less effort. Various network marketing tools like MySpace, LinkedIn, Face Book etc contributes its role in marketing business to the prospective consumers. The new group called Twitter now becomes a regular place for those who involved in the social network marketing (Fox, 2010).

1.1. BACKGROUND

As per the statement of Miller et al (2010), the social network marketing is found to be the most efficient way for all online marketers. The main aim behind the social networking is to connect peoples who may be friends or others of similar interests and taste through the internet. Earning revenue is made by the social networking marketing sites since they promote entertainment and also promote business. Business people on the other hand develop business by performing their promotional campaigns about their business due to the reach of these sites.

1.2. AIM AND OBJECTIVES

AIM

Analyzing about the social networking sites and their strategies in performing and developing their business is the main aim of this research work. An analysis of the strategies practiced by the companies to attract customers and perform their business by the aid of these social networking sites is another intention in performing this research.

OBJECTIVES

To analyze social networking sites and the strategies followed by them to develop their business.

To examine the strategies performed by companies for attracting the customers by the social networking sites.

To identify the problems and solutions faced by the company by marketing on the social networking sites.

2. LITERATURE REVIEW

2.1 MARKETING

Marketing plays an important role in a business and for the organizations success. On marketing distribution and production are largely depended. Most of the people are thinking that marketing and sales are same and the concepts and factors of sales and marketing are entirely different. The work of marketing is to introduce and promote the service or the product into market and encouraging the sales making the public to buy the products or services (Simkin, 2000).

Gurau (2008) stated that the main goal of marketing is making the service or the product to be widely known to everyone and well known to the market, and the marketers in the activities of the market are more creative. The advent of internet technology and the social networking in it has further assisted in promoting business of these sites and has assisted the promotion of various businesses in these sites.

2.2 BASIC ONLINE MARKETING PRINCIPLES

Some of the basic online marketing principles which are applied in networking online are: The first and last principle is that there should be no spam and communication should be meaningful and individual and it should not be bulk and impersonal nonsense. Automated software for posting generic contents or having bulk messages does not be used. When messaging or emailing the people unassumingly remind through signature which includes contact information, name, Website URL, short or tagline statement (Gay et al, 2007).

2.3 SOCIAL NETWORK MARKETING AND THE METHODS

One of the most famous and new fashion in internet technology is Social networking. It is used to communicate with relatives, old friends through joining in the group site of social networking. It may have option to make a new relationship as friends. Mostly business people utilize this technology to make a fresh relationship and to improve their business. It is very helpful to share and access many information. This will play a vital role for marketing the products throughout worldwide by introducing websites of business (Gurau, 2008). A quicker accessibility from the staying place is facilitated and permitted by this social network marketing in recent times.

According to Miller et al (2010) marketing in social network is one among the latest developing technology which will produce more benefits for small and large companies. Sending e – mails or performing the blogging activity in addition to promoting the business by the use of these social networking sites such as facebook and twitter which are used by most people for their networking purposes will gain interest among the customers or the public. People who are in an idea of performing a business or people who already perform a business and desire to start another business may get attracted by this option and get into the business. People who are interested to perform a business and are not aware of the medium by which they could communicate to the business people can use this feature to communicate to the business people and start their business. Thus business dealings take place in a business by this technology in recent times.

Requirement of membership is not observed in joining a group in the social network (Fox, 2010). Lots of people attempting to perform and market their business use the network to promote their business. However, since membership is not required in joining a community, people who just want to kill time may join it and could waste the valuable time of other people. Housewives and educated people who possess leisure time and want to use it in a useful manner can avail the social network marketing feature and perform business and earn money by it (Fox, 2010). People who appear to be deceptive can use this feature and deceive other people by symbolizing them to be a true businessman. The most probable user of social network, who belongs to some small scale industries can market their product and develop their industry into next higher level. The business people can develop their organization through formation of account. They can update their products in social website pages for developing the business. Duplication of the company or the business people could be caused by fraudulent people attempting to use these sites and perform such activities for their own personal benefits (Gay et al, 2007).

3. RESEARCH METHODOLOGY

Collection of data or the information or the facts in regards to a specific research subject for the process of enhancing the knowledge in it is termed as a research (Ketchen and Bergh, 2007). The research methodology explains about the research methods that are suitable for performing the research.

Several concepts and techniques are observed in a research methodology and understanding and implementing them is the means by which the data for a research could be obtained in a proper manner. Research philosophy is the initial concept in performing a research. Rest of the techniques to be determined in performing a research will be determined by this research philosophy. Positivism and interpretivist are the two kinds of research philosophy (Ketchen and Bergh, 2007). Positivist research philosophy will be applied in this research since 100 people who have been surveyed by the random sampling method could possess different thoughts and they could be analyzed by this research philosophy in an effective manner.

There are two types of research approach which is the inductive and deductive research approach (Goddard and Melville, 2001). The deductive approach which assists in constructing the research by possessing knowledge about it and later collecting the data will be the cause of using it in this research work. The kind of data to be collected in a research is the next significant requirement in collecting data and performing a research with it.

Qualitative and quantitative are two types of research methods by which the kind of data to be collected will be determined by the researcher (Goddard and Melville, 2001). Qualitative and quantitative research methods by which an in-depth understanding of the human behavior and the numerical data in regards to the previous and past effects of that behavior will be displayed by the research people who have taken part in this research. Due to this cause, both research methods will be used in collecting the data for this research. The interviews, survey and questionnaires are the research tools which are used to collect the data through primary collection method (Goddard and Melville, 2001). In this research work, questionnaires will be provided to facebook and twitter users and people who perform business in them will also be provided with questionnaires for collecting information for this research. Secondary data for performing this research will be obtained from journals, books and trusted internet sites for performing this research and they will be used in the literature review of this research.

4. RESEARCH SUITABILITY

The researcher is doing master in business administration from Liverpool John Moores University in the marketing department. The researcher has analyzed some statistical data regarding the research topic and through the analysis he gained knowledge for doing this research. The researcher quotes that supervisor will be the important source for the doing this research successfully and he keeps contact with him regularly to gain guidance. The researcher is a member of the some of the social networking sites and he collects the necessary information from the users who are using the social networking sites for the purpose of business.

5. TIME SCALE AND PROJECT MANAGEMENT

The time taken by the researcher fro conducting this research will be determined by the time taken to collect the information. The researcher took short time period to collect the research as the technology is developing day by day. The expenses which are required for gathering the information will be spent by the researcher.

ID

Task name

Start

End

Duration

Oct

2010

Nov

2010

Dec

2010

Jan

2011

Feb

2011

Weeks

Weeks

Weeks

Weeks

Weeks

1

2

3

4

1

2

3

4

1

2

3

4

1

2

3

4

1

2

3

4

1

Research on Marketing

1w

2

Study of marketing performed by the social networking sites

1w

3

Data collection

4w

4

Research methodology

4w

5

Research report preparation

5w

6. RESEARCH ORIGINALITY

The sources and literatures available for this research are limited. Based on the view of the consumers or managers many researches are carried on this topic. This research presents the view about the various marketing activities happening on the social websites. This research analysis is based on the methods used by social networking sites in doing their business and companies attracting consumers and performing their business by it. The same research can be done in future by applying further research methods to show more accurate result.

7. LIMITATIONS

The purpose of this research is to analyze the social networking sites and the strategies implemented by them in performing their business. People performing their business in these sites will also be analyzed in this research. The data for this analysis will be collected from the users who are using the social networking sites for business. Some responders may not provide the required answers for the questions. The accuracy of the result may be +/- 20% reduced. The researcher is conducting survey for the first time and it is a challenging task for him.

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