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ABSTRACT
This work set to determine the effectiveness of social media in advertising a new product, in a competitive market. To achieve this, the descriptive the survey research method was employed. The data for analysis was collected through the administration of a well structured questionnaire to a sample size of five (5) groups of the population of study. The analysis was done using tables and simple percentage score rate. An imperative medium in the introduction of a new product in a competitive. It was therefore recommended that social media is effective tool for advertising new product.
TABLE OF CONTENT
DEDICATION iii
CERTIFICATION iv
ABSTRACT v
ACKNOWLEDGEMENTS vi
CHAPTER ONE: INTRODUCTION 1
1.1 BACKGROUND OF THE STUDY 1
1.2 STATEMENT OF PROBLEM 7
1.3 OBJECTIVES OF THE STUDY 10
1.4 RESEARCH QUESTION 11
1.5 SIGNIFICANCE OF THE STUDY 11
1.6 DELIMITATION 12
1.7 LIMITATION OF THE STUDY 12
1.8 DEFINITION OF TERMS 13
CHAPTER TWO: LITERATURE REVIEW 14
2.1 INTRODUCTION 14
2.2 THEORETICAL FRAMEWORK 15
2.3 CONCEPTUAL REVIEW 18
2.4 REVIEW OF STUDIES (EMPIRICAL) 34
CHAPTER THREE: METHODOLOGY 55
3.1 INTRODUCTION 55
3.2 RESEARCH DESIGN 55
3.3 POPULATION OF STUDY 56
3.4 SAMPLE AND SAMPLING TECHNIQUE 56
3.5 INSTRUMENT FOR DATA COLLECTION 56
3.6 VALIDITY AND RELIABILITY OF THE INSTRUMENT 57
3.7 METHOD OF DATA PRESENTATION AND ANALYSIS 57
CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS 58
4.1 INTRODUCTION 58
4.2 ANALYSIS OF PRELIMINARY DATA 58
4.3 DISCUSSION OF FINDINGS 67
CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATIONS 71
5.1 INTRODUCTION 71
5.2 SUMMARY OF FINDINGS 71
5.3 CONCLUSION 71
5.4 RECOMMENDATIONS 72
BIBLIOGRAPHY 74
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
As social media continue to evolve and their users change and expand, so do the social media definitions. In part, this is attributable to the fact that social media relates to the technology and platforms that enable the interactive web’s content creation, collaboration and exchange by different participates and the public. Yet, many users, business executives and the public consider the marketing around these networks and the content created on them to be social media.
To start, Wikipedia, (the social media go-to reference created by the public in the form of thousands of contributors), define social media as media for social interactions, using highly accessible and scalable communication techniques, social media is the use of web-based and mobile technologies to turn communication into interactive dialogue. (Wikipedia, 2016).
Social media consists of various user – driven (inbound marketing) channels (e.g. Facebook, Twitter, Blogs, YouTube). These channels represent a start difference from the advertiser-driven (outbound marketing) push model. As the principal owners of the customer relationship in the firm, typically, the marketing department is responsible for managing these social media channels. Although some may argue that the customer relationship is “everyone’s” responsibility in the firm, the over arching responsibility rests with the marketing department as the champion for the customer. (Burgess, 2015).
Social media is a new marketing tool that allows you to get to know your customers and prospects in ways that were previously not possible. This information and knowledge must be paid for without put of respect, trustworthiness, and honesty. Social media is not a fad, but I also think it’s but the beginning of the marketing revolution – not the end. (Clay man 2011).
Social media are the platforms that enable the interactive web by engaging users to participate in, comment on and create content as means of communicating with their social graph, other users and the public. Social media has the following characteristics. It encompasses a wide variety of content formats including text, video, photographs, audio, PDF and power-point. (Social content is a by-product of creating content with your community). (ii) It allows interactions to cross one or more platforms through social sharing, email and feeds. (iii) It involves different levels of engagement by participants who can create, comment or luck on social net-works. (iv) Facilitates enhanced speed and breadth of information dissemination. (vi) Provides for one-to-one, one-to-many and many-to-many communications. (vii) It enables communication to take place in real time or asynchronously over time. (vii) Is device indifferent. It can take place via a computer (including laptops and networks), tablets (including ipads, itouch and others) and mobile phones (particularly smartphones). (viii) It extends engagement by creating real-time on line events, extending online interactions offline, or augmenting live events online. (Cohen, 2011).
Social media, broadly defines, consists of any online platform or channel for user generated content. By this definition, for example, word press, share point, and Lithium qualify as social media, as do you tube Facebook and Twitter. Social media more narrowly defined includes only channels for user-generated content as distinguished from platforms, which are referred to as social technologies. By this definition, for example Youtube Facebook and Twitter are social media, and WordPress, sharepoint and Lithium are social technologies. (Cothrel, 2015).
Social media is the tools, services, and communication facilitating connection between peers with common interests. (Garrett, 2011).
Social media are the online technologies and practices that people use to share content, opinions, insights, experiences, perspectives, and media themselves. They are media for social interaction. You can tell social software because it is no turn to use by yourself – an account with no friends connected has no value. (Green Stein, 2013).
Social media as a concept has a parallel line with advertising. Over the years, advertising has been given various definitions by different scholars.
Etymologically, the word advertising is a derivative of the Latin word ‘advetere’ which means to ‘draw attention’. It is all about drawing a person’s attention to buy a product or seek for service. Hart and O’ Connor cited in Magnus (2007) sees advertising as the act of bringing something to the attention of the public especially by paid means or announcement. Taking a critical look at the above, it is clear that Hart and O’ Connor are inferring that advertising is all about public attention drawn by the paid announcement. In the same vein, Jefkins in Magnus (2007), see advertising as the means by which we make known what we have to sell or what we want to buy.
Again, Jefkins in the above implies that advertising is all about communicating a product with the sole aim of selling.
Okon, (2014), avers that communication is the transfer of shared meaning. Juxtaposing Jefkins and Okon, one can deduce that advertising is simply communicating to a fellow about a product, goods or services which you have either bought or have information about its existence. That is; (A telling B that he/she has used or bought a product X, and person B based on the meaning he has decoded from what A shared, becomes aware of such product X and consequently, goes straight into action).
However, Okunna (2002) cited in Okon (2007) defines advertising as any form of non-personal communication or promotion of a product, idea, personality or organization paid for by an identified sponsor through the media. Again, from the definition, advertising has been categorized as a non personal communication through the media. That means, for advertising to take place, there must have to be medium. Such medium can be electronics, print or social medium.
Having established the fact that advertising necessarily has to go through a medium and having printed out these mediums, this study seeks to appraise the capabilities of the social media as an advertising tool or medium.
1.2 STATEMENT OF PROBLEM
The word according to the popular media scholar expert Marsha McLuhan, has become a global village with the daily advent of more confiscates media technologies. (Amadi, 2011). As a result of these new technologies, individuals, entrepreneurs and advertising brokers/marketers are constantly puzzle as to the best media through which consumers and target audience will come in contact with their product. Hence, many resort of the usual medium such as; Radio, Television, Newspapers and Magazines, whereas only a few consider social media as an option. According to Kleinberg (2013), most organizations see social media from a wrong point of view as if it were email or search. It is five distinct things: it is a strategic tool for uncovering business insights it is managing the in influencers who are driving the conversation around your brand.
It is marketing that provides value and turns customers into evangelists.
It is a critical component customer care.
It is transforming your organization to meet the transparency and humanity customers now expect of brands.
Social media advertising involves the user of social networking sites and on-site activities including blogging, wikis, users-generated content, ratings and reviews etc in selling or promoting products, goods and services. (Ecoconsultancy 2010).
As advertising medium or tool, social medium has some spectacular features or characteristics over other media of advertising, these features includes;
Wider cover, social media has ability to reach a mass, wide heterogeneous audience in a moment and at the same pace. This is because social media is highly located sensitive or the time delay between sending and receiving message (time-sensitivity).
Kaplan (2010) differentiates mobile social media into four types viz.
Space times (location and time sensitivity) exchange of message e.g. (Facebook places; four square).
Space-location (only location sensitivity). Exchange of message with relevant for one specification which are tagged to a certain place and read later by others (e.g. yelp oype).
Quick timer (only time sensitive) transfer of traditional social media application to mobile devices to increase immediacy (e.g. posting twitter messages or facebook status update).
Show-time (neither location), nor time sensitive).
Transfer of traditional social media application or reading a Wikipedia entry).
Social media is all about leveraging online tools that promote sharing and conversations, which ultimately lead to engagement with current and future customers and influences in your target market. The key to social media working is having a content marketing strategy that involves the distribution of valuable, relevant and compelling content that promotes the behaviour you are looking for that will ultimately drive your business. Most business starts with the tools. Effective social media starts with a content strategy that helps to position you and your brand as the expert in your niche through provocative, informative and helpful content. Then, once that is accomplished, the social media tools are now available today that make the plan come together. Pullizi (2013).
In the light of the above, this study is designed to unravel and appraise the prowess of social media as an effective advertising tool.
1.3 OBJECTIVES OF THE STUDY
Given the stated research problems, the objectives of this research are:
- Ascertain the effectiveness of social media in advertising.
- Appraise the strength of social media as an advertising tool.
- Ascertain the extent to which social media can promote or popularize a product.
- Investigate the role of social media in advertising.
1.4 RESEARCH QUESTION
Based on the problem under investigation, the following research questions have been formulated for this research.
- To what extent can social media be effective in advertising?
- Can social media play a role in advertising?
- Can social media popularize or influence the purchase of a new product?
- Is social media powerful enough to be an effectiveness advertising tool?
1.5 SIGNIFICANCE OF THE STUDY
This study from all indications will be beneficial to advertisers/marketers, entrepreneurs, manufacturers, and all business moguls who produce useable products. More so, the study is aligned within the context of literature. That is, it will serve as literature to other scholars who will carry out more study on this area. Finally, the study will be instrumental in expanding the twitters of knowledge, as it will help advertisers come to the reality that social media is a super advertising tool.
1.6 DELIMITATION
This research will concentrate on the impact of social media on advertising with a view to appraising its strength. The study will compared social media to other advertising media such as; Radio, Television, Newspaper and Magazines with a view to also ascertain the most effective and efficient. This will be made possible through sampling of both primary and secondary data such as; phone calls, interviews and opinions of advertising brokers, marketers and business personnel who are known to the phenomenon under investigation.
1.7 LIMITATION OF THE STUDY
This study area no doubt is an intriguing one. However, unavailability of indigenous literatures and studies on the subject area for citations and empirical reviews are the major limitations of this study as most reviews done here are from foreign scholars.
1.8 DEFINITION OF TERMS
Appraisal: The act of estimating or judging the nature or value of something or someone. It can also be an estimate of value, as for sale assessment, or taxation and valuation.
Effectiveness: Adequate to produce or accomplish a purpose or produce intended result.
Social Media: This is a websites and other online means of communication that are used by large group of people of share information and to develop social professional contact.
Advertising: This is simply the act or practice of calling public attention to one’s product, services needs, etc, especially by paid means or medium such as newspapers, radio, television, magazine and bill boards.
Tool: A tool is an instrument or anything that helps you do your job or to achieve a particular result.
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