The paper talks about the buying behavior of the consumers. It explains that how social media networks affect the buying behavior and actions of the consumers in the global market. It explains the significance of these social network channels to increase the revenue and profit of the company.
A consumer is an individual who purchases various products and services of the company for personal and special use. They do not purchase the products and services for manufacture and resale purpose. There are several elements which affect the buying behavior of the consumers. These factors comprise social factors, situational factors, marketing campaigns, personal preferences (Oliver, 2014). The consumer’s buying behavior and actions are the important topic of the marketing. The consumer behavior and actions are the study of groups, individuals or organizations and the processes and procedures which they use and exercise to select, dispose, and use and security of products, experiences, thoughts or ideas to satisfy the needs, wants and requirements of the customers in the market. Further, consumer buying behavior is the sum total of consumers preferences, intentions, attitudes, attributes and decisions about the consumer’s actions and behavior in the marketplace when they buy the product or service from the market. Consumer buying behavior and actions also play a vital and integral role in marketing. In addition, social media networks influence the consumer buying behavior (Muruganantham, & Bhakat, 2013).
The social networks generate a new place of the communication and interface among the people. Individuals can share and exchange their reviews, knowledge, experiences, and opinions with other persons due to the social network channels. These channels provide new opportunities to the consumers related to new products and services. The company uses these channels to increase and maximize the revenue and profit of the organization. The social media networks are an effective and unique tool for the consumers to gain the knowledge and information about the new products and services. The company can increase the demand for the products and services with using these channels in the global market (Liu, Li & Hu, 2013). The social media networks protect the rights of the consumers and maintain coordination and unity among the various consumers in the global market. The social media networks promote the business, products, and services of the company. It helps to create a good brand image of the company in the market. The social media channels include Facebook, LinkedIn, Pinterest, Twitter, YouTube, and Instagram. These networks are an important tool to build and develop a good relationship with the target audience. In today’s era, social media is becoming the part of the person’s life. After the various researchers, it has been analyzed that approx 500 million people are communicating and interacting with social media networks in the universal market. These networks are the significant and essential part of the marketing. These social media networks help to consumers to estimate and predict the prices of the products. The quality, advertising, brand, and prices can affect the consumer decision-making process. There is a good relationship between social media networks and consumer buying behavior. Through social media networks, the consumers can easily take important decisions related to products and services. It helps to make effective marketing plans and strategies for near future around the world. Many marketers use these channels for conducting marketing campaigns (Bian & Moutinho, 2011).
In today’s world, most of the consumers are using social media networks as a source or tool to purchase and search items, products, services, and brands. Many companies are using these channels to expand and flourish its business activities and operations around the world. There are three main motives and gratifications for using the social network as a medium such as social aspects, information, and entertainments etc. Twitter and Facebook are the important for sharing important information, news and other experiences related to the new products and services. The organization uses social media platforms to create and generate social support within the firm. These channels help to build and develop effective and unique relations between sellers and consumers in order to meet the long-term success and growth. It is the important tool to support enterprises to increase the chances of growth and survival in the market across the world. The consumer buying behavior process is divided into four steps which include problem identification, purchasing decision, information search and post-purchase behavior (Deliya & Parmar, 2012).
The social media networks provide competitive advantages and benefits for supply chain partners. The social media networks are connected with each other with the main purpose of exchanging and finding content and data. These networks can be used for self-representation, self-disclosure and it helps to create a professional and unique identity in the global market. These social media networks help to build and develop loyalty, honesty, confidence, and beliefs (Gensler, V?lckner, Liu-Thompkins & Wiertz, 2013). After the various researchers, it has been evaluated that Facebook is one of the biggest social networks and it is very popular among the consumers. It can influence the purchasing behavior of the consumers. The social media networks have an impact on the consumer buying behavior. They help and assist the consumers to take various important decisions related to the prepurchase and post-purchase of the services and products. These channels play an essential role to improve and develop brand awareness around the world. It also offers customized and modified the various products and services. These networks provide right and appropriate information about the products and services in the global market. The consumers have options to get special offers and discounts on the products. The social media channels also help to generate consumer movement in the environment. It protects the rights of the consumers across the world (Hartmann & Apaolaza-Ib??ez, 2012).
It provides various growth opportunities and chances to take various advantages in the universal market. The marketers are able to reach its target market around the world with the help of social media networks. The consumers have a chance to do online shopping through these networks (Michaelidou, Siamagka & Christodoulides, 2011).
It will also help to create awareness among the various consumers in the universal market. They can also get information about the defective and damaged products. E-commerce plays a vital role in social media networks. The consumers can purchase online products and services around the world. In this way, these channels are an important tool to reach its target audience in the global market. But sometimes, these channels are not providing accurate and adequate information related to the products and services to the consumers. Thus, various key issues are faced by the consumers related to the social media networks. Therefore, marketers and other people should focus on these social media networks to attract more customers in the market (Kane, Alavi, Labianca & Borgatti, 2012). These channels also help to execute and implement various promotional strategies with the organization.
The marketers evaluate and measure the level of satisfaction and dissatisfaction of the consumers around the world. Through social media networks, consumers are able to know the features, aspects, characteristics, attributes, and advantages of the products and services which are available in the market. The consumers can know the key challenges and other risks which are existed in the market (DeAndrea, Ellison, LaRose, Steinfield, & Fiore, 2012).
On the above discussion, it has been evaluated that social media networks affect the consumers’ buying behavior. The revenue and profit of the companies depend on the consumer buying behavior. Further, social media channels play a vital and crucial role to determine and evaluate the needs, expectation, and requirements of the customers.
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