Consumer buying behavior (CBB) is described by Kotler (2008) as the multi-step decision-making process individual engage in as well as actions they undertake to satisfy their corresponding needs as well as wants in the marketplace. Consumer Behavior is defined by Schiffinan and Kanuk (2004) as that behavior which customers showcase in searching for, buying, utilizing, evaluating as well as disposing commodities they anticipate will satisfy their corresponding needs (Ramanathan et al. 2017). CBB integrates the conducts of individuals directly engaged in acquiring, utilizing, as well as disposing of economic commodities including decision process which precede as well as determine such conducts (Lee 2013).
Review of Literature
Effects of New Social Media Technologies
Newfangled technologies inventories might have a substantial impact in organizations via its undisputed contributions to alter the social environment whereas expediting sharing of knowledge as well as the development of newfangled ideas. Social Media shall come in handy as a typical example of newfangled technological innovation which is generating a substantial impact in the present-day organizations. In the previous, the social media inspired technologies appeared as a chapter. However, it has proven the not notion as a wrong one. It has been observed that the globe is being transformed each day by such new shared technologies that is providing a newfangled hope to the organizations with influence that were never accounted for in the past.
Presently, a great deal of organizations are primarily interested in the incorporation of social media into business structure of their corresponding organization, but lack proper know-how of what social media entail. They as well lack a tangible conduit for ascertaining the gain which such technologies hold for them. McKinsey and Company (2009) conducted a survey that went on to unearth that with proper utilization of social media, a great proportion of organizations remained beneficiaries from one another via such means as idea sharing, better communication as well as enhanced workplace environment.
Value of Social Media in Marketing
The social media adds such a huge value to the organization thereby making an increasing number of organization to endorse as well as exploit various opportunities in social media technological innovation in electronic products marketing. This move is being undertaken to allow organizations get support for their corresponding several organizational as well as business practices.
Social media further holds a great deal of interesting opportunities to organizations, however, it is significant to fathom how to use social media with its associated impact in the organizational context along with where social media is applicable in the real-world projects. The contemporary marketing environment among organizations need to query how employees can utilize social media technologies to undertake their corresponding work as well the impact such exert to their workforce (Singh et al. 2017).
Such questions remain crucial for the contemporary organizations especially those selling the electronic products. Getting answers to such questions have helped organizations to fathom the manner in which social media technologies work efficiently in the workstation. Therefore, it offers these organizations the best opportunity to undertake thorough review as well as comprehend how social media is utilized and what it avails with corresponding impact on how individuals interact as well as work among them in the organization (Kahle et al. 2017).
Social Media and Globalization
Globalization has been portrayed by Hill (2009) as the deviation towards an increasingly useful along interdependent economy that is combining historically diverse national markets into a single global huge marketplace (Jain and Schultz 2016). The global marketplace has also been declared by Economic Intelligence Unit (2009) to be overridden by variations in the rates of exchange, consumer buying behavior as well as inflation during recession that commenced in the year 2007 (Rasool Madni 2015).
Such economic development have culminated in forcing the organizations to undertake to redesign their corresponding business strategies to communicate their respective brands effectively. A brand remains among the topmost organizations’ prized asset that merely means that there is a need for the contemporary organization to fathom that it is significant for them to capitalize on their respective brands (Hajli et al. 2014). This is helpful among these organizations to uphold profitable growth to accomplish sustained profitability goalmouths.
Social media marketing has been the magic solution and the prominent channel that organization utilized to communicate their brans in the course of recession. Particularly, the electronic media assisted in the facilitation of partake, responsiveness, connectivity, consultation as well as networking among the online end users (Hajli et al. 2017). Social media virtual communities including YouTube, Facebook, Twitter, and LinkedIn among others are among the dynamic tools which have assisted facilitate the rapport online. Comparatively, social media is a low cost trend of marketing that enables organizations to involve and engage unwaveringly end-users via their corresponding contracts (Ioan?s and Stoica 2014).
Integrating Social Media Marketing Into Brands and Customers
Brands as well as consumers have an altering role to play in the strategy of the organizations strategy provide the choices made available to the client along with popular role of social media marketing being that they currently have great impact on the economy. On the other hand, brand have an enormous impact on the choices of consumers and, hence influence their customers. A series of events including affecting repurchases that go on to influence earnings in the forthcoming periods and long run organizational continuity (Hajli 2014).
In this regard, the CBB is usually influenced by a leading brand. Such a value created by the derived demand through repurchases as well as securing of forthcoming earnings for the organizations. Accordingly, social media marketing acts as opportunities for communicating as well as relies on the newfangled along with rare thought trends in marketing electronic products. It assists both product as well as brand experience of the customer (Zhang et al. 2017).
The newfangled era featuring digital communication along with social engagement is distinguished for strategizing in the electronic products business (Drell 2011). Accordingly, while organizations are increasingly becoming extremely competitive internationally, it remains relevant for organizations to explore marketing strategies in an increasingly compelling alongside innovative manner via social media to appeal and attract huge number of customers.
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Hajli, N., Sims, J., Zadeh, A.H. and Richard, M.O., 2017. A social commerce investigation of the role of trust in a social networking site on purchase intentions. Journal of Business Research, 71, pp.133-141.
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Jain, V. and Schultz, D.E., 2016. How digital platforms influence luxury purchase behavior in India?. Journal of Marketing Communications, pp.1-24.
Kahle, L.R., Gurel-Atay, E., Yu, J.G. and Ring, K., 2017. Aviary Segmentation: Theory and Method. In The Customer is NOT Always Right? Marketing Orientationsin a Dynamic Business World (pp. 657-657). Springer, Cham.
Lee, E., 2013. Impacts of social media on consumer behavior: decision making process.
Ramanathan, U., Ramanathan, U., Subramanian, N., Subramanian, N., Parrott, G. and Parrott, G., 2017. Role of social media in retail network operations and marketing to enhance customer satisfaction. International Journal of Operations & Production Management, 37(1), pp.105-123.
Rasool Madni, G., 2015. Consumer’s Behavior and Effectiveness of Social Media. Global Journal of Management And Business Research, 14(8).
Singh, S., Sao, A., Nagare, T.B. and Dharmarajan, A., 2017. Role of Social Media Marketing In Brand Building: The New Age Marketing Strategy. International Journal of Scientific Research, 5(9).
Zhang, M., Guo, L., Hu, M. and Liu, W., 2017. Influence of customer engagement with company social networks on stickiness: Mediating effect of customer value creation. International Journal of Information Management, 37(3), pp.229-240.