MKT 344: Consumer Behavior Report The Role of Social Media Influencers in Launching New Products

1. The Role of Social Media Influencers
In Launching New Products
Course Name: MKT344 (Consumer Behavior)
Section: 12
Semester: Spring 2023
Submitted to:
Syed Kamrul Islam
Senior Lecturer,
Department of Marketing and International Business
Submitted by: Team 6
Student Name Student ID
Ishmam Uddin 1913056630
Mohammad Tauhidul Islam Khan Rifat 2031052630
Ahm Riaz Rahman 2031431630
Samiha Naz 2031253630
Sajid Ahmed 2031562630

2. Letter of Transmittal
24th
May, 20223
Syed Kamrul Islam (SKI)
Senior Lecturer,
Department of Marketing and International Business
North South University
Subject: Consumer Research Report on “The Role of Social Media Influencers in launch-
ing new products”
Respected sir,
We are pleased to inform you that here is the research report assigned on the subject per your
command. We have completed the project utilizing the knowledge we gained in MKT 344, “Con-
sumer Behavior." We gave our unwavering dedication and effort to make this research report, and
in the mean time we all gained invaluable knowledge and information about how to analyze con-
sumer behavior in order to predict the consumer decision making and gain in-depth knowledge
about effectively performing marketing strategies. We would also like to express our gratitude to
all the participants who generously shared their time and inputs to make this research possible,
their contribution is deeply acknowledged.
We compiled as much information as possible to create this business plan. Hence, we respectfully
ask that you accept our efforts in compiling this consumer research report and forgive us for any
mistakes we may have made.
Yours sincerely,
Ishmam Uddin
Mohammad Tauhidul Islam Khan Rifat
Sajid Ahmed
Ahm Riaz Rahman
Samiha Naz

3. Introduction
The advent of social media has fundamentally changed the way a business functions in order to
reach their target audience and promote their products and services. In the midst of this technolog-
ical wave; individuals with a pretty significant following on their social media handles such as
Facebook, Instagram, TikTok are called Social Media Influencers. Few years back it used to be
famous celebrities from the field of sports or entertainment etcetera endorsing a new brand or
product on the broadcast media for announcing its arrival in front of millions of people. However,
the marketing and brand promotion arena has drastically transformed over the last few years as
these Social Media Influencers have proved to be an impactful catalysts and numerous companies
have rightfully so leveraged their reach and popularity through these individuals. In this consumer
research report, we have examined the role of social media influencers in launching a new product
and determine the extent to which these influencers can contribute to creating brand awareness,
generating buzz for product never-seen-before.
Objective
The objective is to examine how social media influencers contribute to creating awareness and
shaping consumers' perceptions about a new product. This involves investigating the extent to
which influencers' recommendations, reviews, and endorsements influence consumers' attitudes,
beliefs. Find out how much social media influencers contribute to spreading the word about new
products to their followers and the larger online community. Analyze the influencer content's
reach, engagement, and virality in relation to the new product. Through this reach we aim to offer
insights to companies or business on how to effectively use their marketing strategy and harness
the power of social media to maximize the success of their new product launches. Analyze the
influencers' role in influencing customers' decision to consider, assess, and ultimately purchase the
goods. Find out what influences the influencer's capacity to turn awareness into actual sales and
what hinders it. Additionally, this study will examine the factors that contribute to the effectiveness
of social media influencers in influencing consumer perceptions, purchase intent, and brand en-
gagement during new product launches.

4. Research Methodology
We are adopting a quantitative research design to collect data and analyze the role of social media
influencers in launching new products. Through the collection of numerical data, we are going to
analyze statistically to draw conclusions based on empirical evidence.
For our primary data collection, we have conducted a survey through google forms which consisted
of relevant questionnaires, which contained close-ended questions and Likert Scale, pertaining to
the aforementioned research topic. As per the instructions provided, we have managed to obtain
responses from over 40+ respondents. Our target audience for the survey indulge in heavy social
media usage and have come across social media influencer’s recommendations for new products.
For our secondary data collection, we compiled resources from the internet through numerous
blogs, articles and websites’.
During the compilation of this survey, we have experienced few limitations such as, the generali-
zability of this finding might be limited to this particular section of audience and not apply to other
sections of population. Secondly, few respondents might have ticked off some answers hastily for
the sake of attending the survey, thus which might have slightly deviated the survey from an ac-
curate real-world outcome. As our report is majorly based on quantitative data, it might not provide
nuanced qualitative insights.

5. Data Analysis
In this segment, we have analyzed the survey questions that have been conducted. We surveyed
13 questions which were answered by 43 respondents. Out of the 43 respondents, 51.2% were
female. The majority age range was between 22-25 and 88.4% of the respondents were unem-
ployed. 90.7% of the respondents were unemployed.
1. What is your average time of social media usage per day?
Our first question was quite straightforward, yet it is critical to our theme. We were interested in
finding how much time the people we surveyed spent on social media each day. Most of our re-
sponders (41.9%) spend 0-5 hours daily. 30.2% spend 6-8 hours per day. The remaining 16.3%
and 11.6% spend 8-10 hours and above, respectively.

6. 2. Which social media platform do you prefer to use?
In our second question, we wanted to know the platform people use to which 67.4% answered that
they use Facebook. Second to that was 30.2% which was Instagram. Therefore, it is quite evident
Facebook still runs the digital media platform and continues to influence customers through their
advertisement.
3. Which type of social media influencers do you follow?
In our third question, we wanted to know the type of social media influencers our respondents
follow. We have multiple options for the respondents. The majority (58.1%) prefers influencers
who promote stuff about lifestyle and also like to follow people who posts about travel.

7. 4. Have you ever purchased a product or availed a service on social media?
Through this question, we wanted to know if people buy products or avail services from social
media. From the responses, we learned that 88.4% of our respondents have purchased a product or
availed services from social media. This gives us a hint that maybe digital marketing or influencers
may provoke viewers to buy products from social media.
5. How likely are you to purchase a new product if it is recommended by a social media
influencer you trust?
We wanted to see if individuals were persuaded by influencers and bought things as a result of it.
34.9% voted indifferent, while 30.2% said they are moderately affected by social media influenc-
ers. 20.9% feel they are extremely likely to be persuaded by social media influencers. Given that
the majority of our survey respondents are female, we believe that fashion influencers can persuade
girls to buy beauty products by presenting them with accurate product benefits and disadvantages.

8. 6. How do social media influencers influence your purchasing decisions?
In the 6th
question we asked in our survey about how do influencers influence them in their pur-
chasing decisions. The options we gave are written above and allowed them to choose all f the
options if necessary. Through our survey we found out that people are most influenced when a
new product comes into the market and they get to know about it through the influencers. The
percentage of that option was 58.1%. Second to that was 44.2% which was when influencers create
awareness about the product. Third option was joint by two options which was to provide recom-
mendations about the product and when influencers share their personal experience after using that
product. These are the prime factors which our respondents believe that influence them in their
purchasing decisions through influencers.

9. 7. How often do you make purchases influenced by social media influencers?
We wanted to see how frequently consumers buy after being persuaded by social media influencers
in this query. The majority, 41.9%, replied 'rarely'. The option 'Occasionally' came in second with
37.2%. Only 11.6% stated they are regularly influenced by influencers and purchase products. We
may deduce from this poll that consumers buy the items they require. Influencers most likely pro-
vide them the push they need to acquire the goods they want.
8. What factors do you consider when evaluating the credibility of a social media influ-
encer?
We asked what variables individuals consider when judging the legitimacy of a social media in-
fluencer in this inquiry. Trustworthiness was selected by 53.5% of respondents. Authenticity, com-
petence, and product knowledge were tied for second place at 46.5%. Positive feedback and testi-
monials are also shown. We may conclude that individuals are only swayed if they trust the person
reviewing the goods. In addition, the individual assessing the product should be knowledgeable
about it.

10. 9. Do you feel that social media influencers genuinely use and endorse the products they
promote?
In the above question, we wanted to discover how people felt about influencers who advertise
items and whether or not they use them. The majority feel that they may occasionally use the
goods they are marketing, while 34.9% say they do not utilize the products they are promoting.
10 How likely are you to recommend a new product or brand to others based on a social
media influencer's recommendation?
We asked here if people would recommend others about the products which influencers pro-
mote. We found out that most people do not care about recommending others. (32.6%). While
27.9% said they do recommend to others about products promoted by influencers.

11. 11. What types of content from social media influencers do you find most persuasive when
it comes to new product recommendations?
This question was asked to figure out the types of content consumers find most persuasive.
Through our survey, we found out that the review about the product matters the most to people.
It influences them the most. Previously we saw that personal experience matters the most for
people to get influenced here also they have voted for that.
12 Do you believe that social media influencers have a significant impact on shaping con-
sumer trends and preferences?
We tried to find out if social media influencers have a significant impact of shaping customer
trends and preferences. Through our survey, we have found out that 95.3% think positively
about it. We can conclude that social media influencers do play a significant role on consumer
trends and preferences. They influence people in their buying habits mostly.

12. Discussion
From our survey, we can deduce that most of the respondents said that they are influenced by
social media influencers which pushes them to buy products which are advertised by them. We
can conclude that these customers have the following attitudes.
• Trust in Influencers: These customers have a lot of faith in social media influencers. They think
influencers possess expertise, knowledge, and experience in the things they promote. Influencers
may be regarded as trustworthy sources of information and suggestions. Our survey also showed
that they are only influenced by influencers they trust the most. They won’t trust people with paid
promotions.
• Emotional Connection: Consumers may develop an emotional connection with social media in-
fluencers. They may appreciate and relate to influencers' personalities, lives, or experiences, and
buying things advocated by influencers seems like a stronger connection with them. Emotions are
important in their decision-making process. For example, people with makeup videos for most of
the girls.
• Convenience and simplicity: Influencer-driven consumers may value the simplicity and conven-
ience of purchasing things straight through social media platforms. They like the seamless integra-
tion of information and purchasing, which makes it simple to explore and purchase things without
leaving the platform.
• Information Overloaded: Consumers who rely on social media influencers may be overloaded by
the amount of information available online. They select and simplify their options by using influ-
encers as a filter. They may reduce their selections and make better informed judgments by follow-
ing certain influencers.
• Desire for Novelty: Consumers that are influenced by others may have a high demand for new and
fashionable things. They are more inclined to follow the newest trends and try out new items based
on the suggestions of influencers. They want to be viewed as early adopters in their social circles
and try to remain ahead of the trend.

13. Recommendation
1- Companies leveraging social media influencers for new product launches:
• Identify influencers whose values, content, and audience match those of your new product
audience.
• Build long-term relationships with influencers to build credibility and credibility.
• Work with influencers to co-create content that highlights the unique features and benefits
of new products.
• Leverage the expertise and creativity of influencers to develop engaging and informative
product demonstrations and reviews.
• Encourage influencers to share their personal experiences and real-world testimonials to
build trust and credibility.
2- Strategies for selecting the right influencers, designing effective campaigns, and measur-
ing effectiveness:
• Conduct in-depth research to assess influencer relevance, reach, engagement and credibil-
ity.
• Consider factors such as audience demographics, content quality, engagement rates, and
past brand collaborations.
• Develop clear campaign goals and align them with the influencer's strengths and expertise.
• Create engaging, customized content that resonates with both your influencer audience and
your target audience.

14. • Monitor and measure key performance indicators (KPIs) such as reach, engagement, con-
version rate, and brand sentiment to assess campaign effectiveness.
• Track and attribute sales and conversions directly influenced by influencers with tracking
links, unique discount codes and affiliate programs.
3- Guidelines to foster genuine partnerships between influencers and brands:
• Focus on building genuine, mutually beneficial relationships with influencers.
• Respect the creative freedom of influencers and allow them to maintain their own unique
voice and style.
• Give influencers early access to new products and enable authentic, in-depth reviews.
• Encourage influencers to be transparent about their partnerships to maintain credibility and
comply with regulations.
• Set up clear communication channels to ensure collaboration and feedback between brands
and influencers.
• Fairly reward influencers for their time, effort and influence, taking into account factors
such as reach, engagement and exclusivity.

15. Conclusion
The main findings of this study suggest that social media influencers play an important role in new
product launches. They have the ability to raise awareness, generate excitement, and drive con-
sumer adoption. By using influencer her marketing, companies can effectively reach and increase
engagement with their target her users during new product launches.
The practical implications when a company launches a new product or service are:
• Integrate influencer marketing into your overall marketing strategy for new product
launches.
• Allocate sufficient resources and budget to identify, engage with, and reward relevant in-
fluencers.
• Monitor and measure the impact of your influencer campaigns using the right metrics and
tools.
• Continuously adjust and refine your influencer strategy based on audience feedback and
campaign performance.
• Bring transparency and trust to your influencer partnerships and build trust with your con-
sumers.
In summary, social media influencers are powerful catalysts for successful new product launches.
The ability to create authentic connections with your audience, combined with the reach and en-
gagement of social media platforms, makes them a valuable asset for companies looking to max-
imize the impact of their product launches. Future research may explore emerging trends in influ-
encer marketing and explore the long-term impact of influencer partnerships on brand equity and
customer loyalty.