NX9624 Management Enquiry Assignment Sample
Module Code And Title : NX9624 Management Enquiry Assignment Sample
1.0 Introduction
The study would be focusing on the variants that would be used in the continuation of the project. It is very necessary to understand the evidence that is required to get continued with the project. The proper validations in providing evidence initiate inquiry and evolve the main prospects of the study.
1.1 Organisation
Marks & Spencer is one of the leading British brands that has been in markets once with quite a few deceased. Focusing on the quality of products, food values, clothing, and home care, the organisation has been in to talk among millions of customers around the globe. Marks & Spencer is popular for its classic and confident style of outfits that are being accessed by customers all over the globe. Having a legacy from the last 135 years, the organisation has been seen to be rolling the market.
It can be said that being a leading British brand it is usually known for its high quality and great value products and services. The organisation has a total of huge sales and market value present globally. In the year 2021, the British retailer generated approximately 9.17 billion British pounds (Statista.com, 2021). In addition to that, the revenue has been seen to increase in the early years but will see a decrease of 11.9 percent in 2021. It has been seen that founded in the year 1884, the retailer was able to offer a wide range of products to its customers starting from food items to general merchandise.
Starting from food items to general merchandise, Marks & Spencer has a validation with every priority offer. There has been an overall of 1000 stores available in the UK with 472 operating internationally (Redonline.co.uk, 2022). These stores are ranging from crore shops that offer a selection of the company’s general merchandise and food products, to the supermarkets.
1.2 Research question and rationale
The aim of the study is to analyse the effect of social media on consumers’ buying behavior in the fashion industry.
The research question is as follows:
How is social media responsible for affecting consumers’ buying behavior in the fashion industry?
1.2.1 Rationale: professional interest
Reason of the focus
The prime reason for the focus is that the fashion industry has been changing and the changes are frequent and validated. In order to have access to customer buying behavior, it is essential to understand the prospects related to it. It can be said that in understanding the influence social media has on people, the research would be done on focused changes taking place in customer buying behavior in the fashion field.
Past work experience
From the past experiences gathered, it can be said that social media has brought huge changes to each and every industry. Besides, the variations in access to changes in fashion have been seen more in the present centuries. Hence, the past experience revealed the reason for understanding the gradual change in customer behavior that took place.
Future work aspirations
The past experiences gathered have been seen to be more variant as per the early information gained. It can be said that with the experiences gathered, it can be said that future work aspirations include proper information gathering from resources. Hence, social media plays an important role as Social media has led consumers to adopt and move on from fashion trends quicker than before.
1.2.2 Contextual rationale
Establishment of the focus
The information profound with the received data has made it clear that social media plays an important role in present-day life. As opined by Ren et al. (2020), intention to better prospects can be validated by means of social media. The focus on the change in the fashion industry has been seen in the last few years.
Details in analysing the information from the manager
The details on the subjects are that social media has changed and the fashion industry is revealing itself in the era of modernization. According to the Deloitte report, 29% of social media users are more likely to make a purchase on the same day of using social media (Deloitte.com, 2018). The results take part in getting the conclusion that social media’s influence is huge in terms of shopping.
Real-world sourcing
Marks & Spencer has been struggling over years but has managed to bounce back to its evergreen fashion specialties. The 138-year-old chain has been seen to come up with a Christmas collection which they have claimed to have full-price clothing since 2013.
The reason behind it is based upon the fact that from the last lockdown, the shoppers have mostly become retailers (Theguardian.com, 2021). In 2021, Christmas, M&S has been seen benefitting the general urge in clothing sales. In addition, sales of bras rose by 13% and jeans by 12% at M & M&S.
Increase in demand & production
The use of social media has been diversified that has led to a huge increase in demand and production. It can be said that with the use of social media, Shippers can use their social media channels in tapping consumers’ buying habits.
Broad perspective to narrow perspective
As per worldwide propped tube, 81% of consumers’ purchasing decisions of the customer buying patterns can be influenced through social media posts. It means that most of the buying experiences happen due to advertisements on social media platforms.
Objectives
The objectives of the study are as follows:
- To understand the ways social media has been influential to the fashion industry
- To evaluate the perspectives in which customer buying behavior can be effective by social media influence
- To understand the importance of social media in getting with the newest trends available
- To initiate customer responses that have changed by the influence of social media at Marks & Spencer
Summary
From the above, it can be summarised that the concept of customer behavior is one of the most important prospects in business. It is necessary to understand that social media plays an important role in customer buying behavior. It can be said that the use of social media has become very much influential in understanding the concept within the various sectors of the industry.
Overview of the structure
The overall structure of the study has been shown to have an introduction as the initial part in which the overall safety has been discussed properly. In addition, following the introduction, the next part initiates in understanding the organisation that has been chosen. The reason behind choosing the organisation has also been profiled in the part.
The rationale is termed to be the next part in which the focus of the study has been clarified with future aspirations needed to be achieved, with validation to the reason of the focus. The contextual rationale is the final part in which the overall diversification has been provided focusing on justifying the reason behind choosing the topic with variations to real-life sourcing.
2.0 Conceptual framework
Figure 2.1: Conceptual framework (source: Created by learner)
2.1 Introduction
This chapter deals with the various literatures to investigate the effect of social media on customer buying behaviour, especially the case of Marks & Spencer in the fashion industry. The social media influences and their impacts are critically analysed in this chapter which helps to gather in-depth information on the research topic. The theoretical frameworks are going to describe the impacts of social media on the marketing of Marks & Spencer in the fashion industry. It is essential to profile the importance of focus of the Enquiry. Besides, to evaluate the various perspectives included within the study, it is evident to understand the reason behind the significance of the real-life practice.
In the study, the topic of the effects of social media on consumer buying behavior in the fashion industry has been selected. Based on the topic chosen, the observation would be formulated on the basis of Marks & Spencer. The project would be focusing on the rationale and justification that the topic has been chosen.
In addition, the proper aim and objective in choosing the research topic would be initiated on the results that are required to be generated. On the other hand, specifications on the ‘real-world’ relevance would be made on the inquiry topic as well. Provided with the professional interest and contextual rationale would be provided on the variant, with a focus on the significance of the topic chosen in different prospects.
2.2 Social media influences on fashion
Social media platforms allow fashion brands to unlock their potential and forecast their products trends for creative and commercial success. As per the viewpoint of Romão et al. (2019), social media networks influence product characteristics and visibility through positive emotions, several comments, shares and a number of video views in the fashion market. In the case of Marks & Spencer, social networks with a consumer behind-the-scenes look to increase orders of products, creating bonds among the targeted audience in the global market.
On the other hand, Lee et al. (2018) have argued that the market of luxury fashion brands using visual communication through social media to improve marketing efforts, increase familiar response along with their great perception of luxury fashion brands. The company generates luxury advertisements on social media is most of the young generation are engaged actively and the fashion brand can easily attract them by their visual communication capacity. As opined by Angus and Westbrook (2019), Social media has made consumers clear in adopting and moving to new fashion trends and hemp in appeasing their customers in keeping up with the forecast.
Figure 2.2: Social media influences on luxury fashion brand (Source: Lee et al. 2018)
The above figure shows that visual communication on social media platforms directly impacts purchase intention and share intention among their family, friends to enjoy these unique products. On other hand, Fetais et al. (2022) have argued that social media marketing plays a role in mediating variables of a fashion brand in community engagement on major social networking sites to interact with customers on different channels. Marks & Spencer explores their fresh and unique styles on social media platforms to influence women, men and the segments of beauty products.
It can be said that with the initiation of the study, it would be beneficial in making the research with proper evidence and clarity. Social media plays an important role in the present day and it is important to understand the various valuations in using social media. In addition to that with the increase in the use of social media, the pattern of consumer buying behavior has also changed a lot. The significance that the study would be making on the research is by providing evidence on the prospects of social media influence on customer buying behavior.
With respect to the information gained, it would be associated with providing proper information on the ways customers have been thinking about undergoing a shopping experience at Marks & Spencer. On the other hand, as per the UK perspective, it was found that 25 percent of UK people reported that they were much more likely to purchase from a company that they had liked on Facebook. Thus, it can be analysed that the perceptions related to social media influence are huge and it has influential importance over customer buying behavior.
In addition, with a proper gathering of information, the study would be proved significant to people who would be choosing Marks & Spencer for availing their services in understanding the way people think about it. Hence, the chosen topic is beneficial and has huge significance to the research, customer, and industry in understanding the mind-set of people along with proper information gathering.
2.3 Impacts of social media on consumer behaviour towards fashion brand
The apparel purchase on fashion brands are mainly characterized by heavily susceptible and uncertainty over the social influences. Social media enables customers who are internet users to access service and product-related information from non-commercial and commercial sources. Based on the opinion of Aragoncillo and Orus (2018), the main impulse buying in customer behaviours has been changed in recent years and the organizations faced issues with understanding the customer’s psychological underpinnings of behaviour to boost sales of their brand.
In addition, social media has a serious impact on the growing use of the internet during economic crises that generates opportunities for information search on purchase channels through planned and informed processes. The company faced issues with new customer perceptions and their impulse buying behaviour that directly affects sales on the traditional, physical store.
Social media could be used as a source in gaining information associated with various supply chain events. Besides, it helps in allowing supply chain participants in monitoring supply chain events and transactions. Fashion has its own updating factors to which people are accessing their needs. The change in the fashion industry has made it difficult to cope with the needs of the consumer. The purpose of customer and industry fashion is proportional to each other, as both are trying to cope with the present-day demand.
Figure 2.3: The Engel Blackwell Miniard model (Source: Nash, 2018)
On the other hand, Nash (2018) has illustrated that the Engel Blackwell Miniard model is effective to understand consumer behaviour regarding the influence-customer decision-making including lifestyle, values, culture, and social personality. The application of the model on the marketing approach of Marks & Spencer is appropriate; it helps to structure a seven-point decision-making process to recognize the needs of social media followers, and measures the search of information both externally and internally.
According to Ebrahim (2019), social media will change the marketing practice with integrated access of 2.77 billion users of the internet and expand market channels, using traditional and digital marketing communication tools to monitor and facilitate customer collaborations, communications, and interactions with the brand or the company and encourage their engagement. The intentions, behaviours, and purchase decisions of customers effectively depend on the other review, competitive price, and service availability in the business of the fashion market.
2.4 Latest social media trends and tools used in marketing in the fashion sector
Two popular trends are used on social media platforms such as AR (Augmented reality) and VR (Virtual Reality) to offer exciting user experiences. Marks & Spencer uses the fashion trends of social media by adopting AR-powered shopping that allows key customers to try on products, increase availability before purchasing them. As per the viewpoint of Ladhariet al. (2019), there are four approaches to online shopping such as price shopping, brand shopping, trend shopping, and pleasure shopping.
Moreover, the impacts of these trends on fashion shopping are exemplified by numerous store closures, reducing sales on the business model of brick-and-mortar stores on the part of leading fashion retailers. Marks & Spencer categorize Generation Y females; identify the sociodemographic and behavioural characteristics of online fashion shoppers on the social media platform. Most customers gauge their perception from seeing the product review of the online shopping experience and ensure the use of mobile devices and availability of apps in the sources.
Figure 2.4: Google Trend in 3Vs of big data (Source:Silva et al. 2019)
On the other hand, Pentinaet al. (2018) have illustrated that social media platforms become popular trends due to their exclusivity, uniqueness, and status that positively impact brand outcomes, strengthens consumer–brand engagement, improves relationships and brand evangelism.
The fashion company grows marketing allocations by co-creating the brand meanings gains benefits from on-going informal conventions including the viral spread of marketing messages, new product ideas, relationship maintenance, and improved customer service that drive consumer participation and control consumer-generated content in this process of marketing. The organisation used its resources and subsequent capabilities to exploit its differences from the competitors and create a competitive advantage. The reason behind choosing Marks and Spencer has a much-validated reason. One of the reasons behind it can be its popularity.
The organisation has been opting for highs in the business market for quite a few decades. Sustainability and social responsibility are one of the reasons M&S is a company that can be chosen for the analysis. The reason is companies opting for the future should be attainable in emphasising sustainability and social responsibility. Besides, in the market penetration, the organisation has seen failures and success with both projections to overcoming situations. It can be said that the organisation has faced huge projection in the fashion market and the analysis would be best on the organisation in the collection of the information from various sources.
Marks and Spencer are overall known for its high-quality products and offering the best deals of all time. As the organisation is famous for the well-known retail products, the clothing section has its own spark in the market. It has been seen that the MS2 division has been curated for the M&S customer in offering reasons for shopping on the online websites. It has been seen that the clothing section has been validated to various channels that might include Omni-channel Offer. The organisation is inclusive of over 100 websites globally in which people are enjoying their shopping experiences by just sitting at home (Marksandspencer.com, 2021).
On the other hand, Silva et al. (2019), the Google trends also influence customers purchasing behaviours and forecast fashion variables across the online customers. The above figure shows the three defining dimensions of big data with considering volume, variety, and velocity with the highest growth in searches in the social media platforms about the fashion brands’ products and services. Also, web-based entertainment genuinely affects the developing utilization of the web during monetary emergencies that creates open doors for data search on buy channels through arranged and informed processes.
The organization confronted issues with new client insights and their motivation purchasing conduct that straightforwardly influences deals on the conventional, actual store. Virtual entertainment could be utilized as a source in acquiring data related with different store network occasions. Plus, it helps in permitting production network members in observing store network occasions and exchanges. Design has its own refreshing variables to which individuals are getting to their requirements. The adjustment of the style business has made it hard to adapt to the requirements of the customer. The reason for client and industry design is relative to one another, as both are attempting to adapt to the present-day interest
2.5 Theoretical framework
2.5.1 Love mark Theory
The main of this theory is the love marks brand that considers two affective dimensions such as respect and love that helps to positively affect brand loyalty and strengthen the consumer-brand relationship. According to Giovanis and Athanasopoulou (2018), the love mark theory is centred on marketing relationships that consists of two aspects of the brand such as emotional and functional aspects with comparison key variables of brand, fads, and products.
Figure 2.5: Variables of Love mark theory on customer purchasing intention (Source: Giovanis and Athanasopoulou, 2018)
The above figure shows the key variables of Love mark theory that helps to recognize the marketing stability of fashion brands. This love mark theory helps the company Mark & Spencer to evaluate the value of their brand in the market. This theory also helps the company to understand the love of their customers toward the brand of Mark & Spencer. Marks & Spencer needs to test its adoration mark estimations for assessing its image esteem in light of clients’ affection and regard towards them. The affection veil brand of style areas alludes to high brand unwaveringness with regards to high innovation items.
2.5.2 S‑D logic Theory
This theory is the key element of a marketing relationship that generates a high level of customer engagement with the brand and products as being an interactive and creative experience with the firms and brand. According to Hollebeek et al. (2019), the approaches of S-D logic theory ensure customer resource integration in the business by creating value in the service system or acquiring scarce resources or constellations of networked actors accessing.
Figure 2.6: S-D logic–informed framework of customer engagement (Source: Hollebeeket al. 219)
The assistance arrangement of Marks and Spencer considers an arrangement of asset coordinating entertainers that assists with interfacing clients by shared institutional rationale and common worth creation in view of language, laws of business. The strategic management of the company is able to improve their macro-and micro-foundations in marketing to date with new products and service ranges in the fashion sector on social media.
“Service-dominant (S-D) logic”, which centres around administrations and additionally intangibles as the critical interest in a trade, can emphatically modify Mark & Spencer’s activities, culture and in general essential viewpoint to make common advantages for purchaser and merchant gatherings. Mark & Spencer with S-D rationale direction accomplishes these benefits by putting the client at the core of all business exercises. In S-D rationale trade, administration is traded between the purchaser and merchant by means of the merchandise/administrations being bought. Client worth and fulfilment is co-made among purchasers and merchants all through the deal’s association.
2.6 Literature gap
In the above chapter, the author Nash (2018) has pointed out that social media platforms influence fashion consumer decisions and not described the key challenges and issues faced by the leading firms with a theoretical exploration. Moreover, Fetaiset al. (2022) have explained social media marketing activities and were not concerned about the new changes of customer demands, online shopping behaviour in the shopping of fashion. On the other hand, Lee et al. (2018) have explored customers buying behaviour only for a luxury fashion brand and were not analysed the shopping attitudes of their key customers in the market.
2.7 Summary
In this chapter, the various influences of social media on fashion buying are discussed and relate with the case of Marks & Spencer which leads several marketing segments on online platforms. There is a positive impact of social media influence on customer buying intention online that depends on the fashion brand’s offer range, competitive price, and available trends in the market. The theoretical frameworks such as love mark theory and S-D logic theory explore the customer relationship with fashion brands and understand the buying intensity of customers towards the brand.
The study has focused on providing the importance of the chosen topic that has been taken in addition to the aims and objectives. Marks & Spencer has been shown as the case study and the organisation has been described based on its industry and market type. In addition to that justification has been given on the chosen topic.
Reference List
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