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Mrp ppt

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Customer Reliance on Social Media Information for Buying Decisions

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Mrp ppt

  1. 1. A Study on Customer Reliance on Social Media As a Source of Information in Buying Process 1.Introduction 2.Research Methodology 3.Statistical Evaluation 4.Aftermaths of the Pursuit 5.Conclusion
  2. 2. 1.Introduction • Customer Buying decision process • Social Media as a Information Source • Social Media Marketing (SMM) • Reliance on SMI • Importance of the study • Limitations of the Study
  3. 3. Customer Buying Decision Process
  4. 4. Social Media as Information Source • Most used info sources are SM’s like- Facebook, Linkedin, Twitter, Googleplus, etc. • More than 2.3 million searches every sec. • Available 24*7*365 around the globe. • 4.5 billion likes generated daily as of May 2015.(67% rise since 2014) • 29.7% of users-Age 25 to 34 is the most common age demographic. • Highest traffic occurs mid-week between 1 to 3 pm. • Photo uploads total 300 million per day. (e.g. Vijayawada’s Best DPs) • Average time spent per Facebook visit is 20 minutes. • 16 Million local business pages have been created as of May 2015 which is a 100 percent increase from 8 million in June 2014. • 50% of 18-24 year-olds go on Facebook when they wake up. • More than 50 Facebook pages in Vijayawada for Online commerce.
  5. 5. Importance of the study • Present marketing trends • Latest technological innovations (e.g.. slide & earn) • Green Marketing practice • Data analytics and Cloud computing • Vijayawada as the growing business hub • Capital city of Andhra Pradesh • Narrowcasting of communication
  6. 6. Limitations of the study • Limited Geographical area of study • Small sample size of 200 • Biased & incomplete responses • Language Barrier • Lack of Awareness • Time Constraint
  7. 7. 2.Research Methodology • Literature Review • Research problem • Objectives of the Study • Hypothesis formulation • Research design • Statistical methods
  8. 8. Literature Review Article No. Research Title Author(s) Published In/On 1 E-marketing and the Consumer decision making Process Neha Jain April, 2014. www.jiit.ac.in/uploads/SynopsisNehaJain .pdf 2 The impact of Online Social Networks on Consumer Purchasing decision - The study of food retailers Ayda Darban, Wei Li June, 2012 www.diva- portal.org/smash/get/diva2:532049/fullt ext02 3 Social Media and its Impact on Consumers Behavior Elisabeta Ioanăs, Ivona Stoica International Journal of Economic Practices and Theories, Vol. 4, No. 2, 2014, Special issue on Marketing and Business Development, e-ISSN 2247– 7225 4 An Analysis of the Social Media Influence on the online buying behavior of Indian Consumers Mrs Smita Dayal ISBN no. 978-81-923211-8-9 http://www.internationalseminar.in/XVII _AIS/INDEX.HTM, January, 2016 5 Information Sources for Two-wheeler Purchase: An Analytical Study with Special Focus on Malappuram District of Kerala K. P Najeemudeen1, N. Panchanatham Universal Journal of Industrial and Business Management 4(2): 59-70, 2016
  9. 9. Research problem SOP: ‘Do people of Vijayawada rely and believe on the information available on the Social Media for Buying Decisions?’ is the question of this study which is to be answered in the conclusion of this quest.
  10. 10. Objectives of the study • To find out if Customers of Vijayawada rely/trust on SMI for buying decisions or not. • To study the qualitative factors of SMI which makes SMM effective and reliable. • To analyse the demographic & economic aspects that influences the Customer Buying Behaviour (quantitative).
  11. 11. Hypothesis formulation • Null hypothesis (H0): The customer purchasing decision in Vijayawada is reliant on the SMI. • Alternative hypothesis (H1): The customer purchasing decision in Vijayawada is not reliant on SMI.
  12. 12. Research design • Both primary and secondary data are used in this descriptive study. • Sources: * Primary: Questionnaire Survey * Secondary: Published researches , Books & Internet Sampling technique: Convenience sampling Sample size: 200 people of Vijayawada
  13. 13. Continued….. • Time frame of the study: Oct-Nov 2016 • Location for Study: Vijayawada. • Data collection: Questionnaire via Social Media ,Emails, Google forms, Linkedin. • Measuring tool: 5 point Likert scale • Questions type: Close Ended • Statistical methods: SPSS, Frequency, Percentage, Chi-Square test, Bar graph.
  14. 14. 3. Statistical Evaluation • The demographic questions reveals the followings: AGE (Independent variable): * 71% respondents - 16-25 years age class * 21.5%- 26-35 years * 5.5% - 36-45 years * 3% - dependent & old class. • Gender (I.V.): 73% male & 27% female, 21% female & 50% male - youth class, 6% female & 21% male – Adult class, 3.5% female & 4% male – dependent old class.
  15. 15. • Qualifications(I.V.): *Doctorate-3%, *PG-52.5%, *UG-34% *Intermediate-7.5%, SSC-0.5%, Other-2.5% • Income levels (Monthly): *Less than Rs.10,000=18% *Rs.20k-40k=21.5% *Rs.40k-60k=8.5% *Rs.70k n above=11% *None = 40.5%
  16. 16. 4.Aftermaths of the Pursuit Intentional use of E-commerce for Purchase: * 20 Female-Agree & 1F-Disagree * 68 Male-Agree & 6M-Disagree * 12 female- Strly agree & 0F- Strly disagree * 28 male- Strly agree & 1M- Strly disagree * 21F-Neutral & 42M-Neutral
  17. 17. Frequency of Purchase • Daily – 2% female & 1.5% male • Weekly - 3% female & 14% male • Fortnightly – 3% female & 6.5% male • Monthly- 19% female & 50.5% male • Other – 0% female & 0.5% male
  18. 18. Reasons for Online purchase • Choice Variety-27.5% vote • Convenience-23.5% • Offers-18% • Price-22.5% • Resource Savvy-8.5%
  19. 19.  Reliance on SMI for Buying decisions • Strongly Agree- 13% • Agree-40% • Neutral-36.5% • Disagree-7% • Strongly Disagree- 3.5% only
  20. 20.  Social Media used & preferred to seek information for buying decisions • Facebook-41.5% • Youtube-22.5% • E-commerce websites-9% • Instagram-8% • Linkedin-7% • Others-8% • Twitter-4%
  21. 21.  Features of Social Media impacting the Buying Decisions • Popularity-34% • Reviews-28% • Accessibiltiy-16.5% • Security-16% • Interface-5.5%
  22. 22.  Types of Reviews seen about Products/services on Social Media • Positive-33.5% • Negative-15% • Both-35% • Never consider-16.5%
  23. 23.  Judiciousness of Purchase decisions made using SMI • Strongly Agree-18.5% • Agree-46.5% • Neutral-29% • Disagree-5.0% • Strongly Disagree-1.0%
  24. 24.  Cost-Benefit Value expectations seen by Online purchases • Yes-52.5% • Neutral-40% • No-7.5%
  25. 25.  Recommendation to believe in SMI for Purchase decisions • Yes-55.5% • Neutral-37% • No-7.5%
  26. 26. 5.Conclusion • 7 chi-square tests of different variables verified the acceptance of null hypothesis (H0). • Reliance on SMI: SA-13%, A-40%,N-36.5%,D-7%,SD-3.5%. • Recommendation of SMI for Purchase decisions: 55.5% respondents & only 7.5% don't recommend. • C-B-V expectations met by P/S bought using SMI is positive & satisfying for 52.5% while only 7.5% are negative. • Frequency of online purchases and clicking the links, emails, popups and posts of Promotion Campaigns have impressive influence on customers. • Facebook is being preferred as most reliable and accessible SMI source as 41.5% of the sample use and follow it. Hence, this study implies that Customers of Vijayawada do rely/believe/use/trust/recommend the SMI for making the purchase decisions for both offline/online purchases/sells(commerce).
  27. 27. Niraj Thakur 152510139 MBA15C

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