In this study the effectiveness of brand tracking through social media was studied. This study is of much significance to the brand managers for future application of social media channels.
Social media is centered on communities where users share their opinion and gain others perspective unlike traditional media where the company sends unidirectional messages to the audience. Social media requires the consent of the user and is more acceptable as compared to traditional media which infiltrates the personal space of a person. Social media is basically shared media where brands can simulate discussions at regular intervals but the final result of the discussion can have either positive or negative impact on the brands.
Social media scores in targeting the message to the right audience. It enables marketers to focus on their target segment instead of broadcasting the message to mass audience. The media lays emphasis on engagement with the customer and builds a relationship which is long lasting.
Table of Contents
1. Introduction
2. Market Research Industry
3. Market research Industry in Present scenario
4. Social Media led Market Research
5. Nature of the business
5.1 Data IQ
6. EmPower’s Methodology and IP
6.1 Analytics+
6.2 SMMART - Social Media Multi-Attribute Rating Tool
7. Statement of Problem
8. Objective of the Study
8.1 Primary objective
9. Scope of the study
10. Research Methodology
11. Data sources
11.1 Primary data
11.2 Secondary data
12. Research instrument
13. Statistical Tools
14. Analysis
Objectives and Research Focus
This study aims to analyze the importance and effectiveness of utilizing social media for brand tracking compared to traditional and primary research methods, specifically focusing on the benefits and strategic applications for P&G brands.
- Evaluating the effectiveness of social media as a tool for brand tracking.
- Comparing the cost-efficiency and speed of social media versus traditional research methods.
- Identifying the most relevant social media platforms for gathering consumer insights.
- Analyzing the impact of social media engagement on long-term brand-customer relationships.
- Assessing the role of modern data analytics in transforming market research practices.
Excerpt from the Book
Social Media led Market Research
Social media is a media for social interaction using highly accessible and scalable publishing techniques. Social media makes use of internet technologies to enable dialogue among the users. Social media marketing has gained relevance over the past few years due to the increasing popularity of social networking sites like Face-book, Orkut, Twitter, LinkedIn, MySpace, etc.
Social media is centered on communities where users share their opinion and gain others perspective unlike traditional media where the company sends unidirectional messages to the audience. Social requires the consent of the user and is more acceptable as compared to traditional media which infiltrates the personal space of a person. Social media is basically shared media where brands can simulate discussions at regular intervals but the final result of the discussion can have either positive or negative impact on the brands.
The stats of using social media have become huge in recent times. The stats for using social media are given below.
Summary of Chapters
Introduction: Provides an overview of knowledge services as an emerging concept integrating knowledge management and markets within a circular value chain.
Market Research Industry: Defines the systematic process of marketing research and its critical role in providing valid information for management decision-making.
Market research Industry in Present scenario: Discusses the evolution of the industry due to new sectors and the shift toward sophisticated social media research tools.
Social Media led Market Research: Explores the transition of market research toward social media platforms as a means of scalable, bidirectional communication.
Nature of the business: Examines how effective data management through services like Data IQ helps companies maintain competitive advantages.
EmPower’s Methodology and IP: Details proprietary analytical methodologies including Analytics+ and SMMART used to derive actionable social media insights.
Statement of Problem: Outlines the research focus on the effectiveness of social media brand tracking for P&G brands.
Objective of the Study: States the primary goal of investigating the effectiveness of social media brand tracking versus traditional alternatives.
Scope of the study: Defines the research boundaries, focusing on overall impact, geography, and reasons for utilizing social media for brand tracking.
Research Methodology: Describes the exploratory nature of the research, which utilizes flexible, unstructured processes to gain insights from brand representatives.
Data sources: Explains the distinction between primary data collected via questionnaires and secondary data sourced from digital documents.
Research instrument: Lists the types of questions used in the respondent questionnaire, including Likert scale and open-ended formats.
Statistical Tools: Identifies Chi-square test and Factor analysis as the primary statistical methods for the study.
Analysis: Presents the evaluation of data regarding the impact and effectiveness of social media as a tracking tool.
Keywords
Brand Tracking, Social Media, Online Marketing, Market Research, Consumer Insights, Data Analytics, Digital Media, Customer Engagement, Knowledge Services, Competitive Advantage, Quantitative Research, Qualitative Data, Social Networking, P&G, Marketing Strategy.
Frequently Asked Questions
What is the core focus of this research?
The research primarily evaluates the importance and effectiveness of utilizing social media platforms as a modern method for tracking brand performance compared to traditional research techniques.
What are the central thematic areas of the study?
The central themes include the evolution of the market research industry, the shift to social media-driven consumer insights, cost-efficiency in digital marketing, and the strategic application of proprietary tools for data analysis.
What is the primary objective of this work?
The primary objective is to study the effectiveness and benefits of social media-led brand tracking and to determine why major companies like P&G are adopting these channels over conventional market research.
Which scientific methods are applied in this study?
The study uses exploratory research methods, conducting quantitative and qualitative analysis of brand representative opinions via questionnaires, supported by statistical techniques such as Chi-square tests and Factor analysis.
What does the main body of the paper cover?
The main body covers the current state of the market research industry, the mechanics of social media interaction, the utility of proprietary analytical frameworks, and detailed findings based on various social media platforms.
Which keywords best describe this research?
Key terms include Brand Tracking, Social Media, Online Marketing, Market Research, Consumer Insights, Data Analytics, and Digital Media Strategy.
Why are Facebook and Twitter highlighted as significant?
The research identifies these platforms as the most relevant for brand tracking due to their massive user bases and the ability to facilitate direct, actionable consumer feedback.
What are the findings regarding cost reduction?
The analysis suggests that companies can achieve approximately 30-50% cost reduction by utilizing social media for brand tracking instead of relying solely on traditional, time-consuming research methods.
- Arbeit zitieren
- Govindappa Raghu (Autor:in), Dr. Radha (Autor:in), 2011, Brand Tracking Through Social Media, München, GRIN Verlag, https://www.hausarbeiten.de/document/183123
