BM9718 / LD9718 / AT9718 Research Methods and Analytics for Business Practice Assignment Sample 2024
Introduction
The study will include the background of this study in which the reason for conducting this research will be described. A summarized literature review will be provided in this study that will be beneficial to provide an initial idea of the concept, variables, theoretical analysis, and possible literature gaps in this study. Research methods will include the philosophy, approach, design, data sampling method, data collection tools and techniques, data analysis methods, and others. The conclusion chapter will provide a summary of the key points of this research study.
Research background
In this present era of fashion trends, people are aware of the current and future trends, and based on the differences in purchasing behaviour industries are also modifying their fashion retail stocks. Based on the current fashion trends in the consumer market, retail sectors are innovating their product design and pricing so that their sales figure can be improved (Sudha and Sheena, 2017).
On the other hand, purchasing behaviour of consumers in the fashion retail industry through the influence of social media has benefited the retail sectors to determine proper innovation strategies to enhance their competitive advantages.
Summarized literature review
Concept
Social media plays a crucial role in terms of influencing consumers to purchase products from a particular fashion retail industry. Other consumers in social media are influenced to share their feedback and real review with the social media accounts and pages of these organizations.
This strategy can be beneficial for other consumers to get motivation to purchase the same of other products from this organization (Laksamana, 2018). Appropriate ideas about the benefits of using social media marketing can be beneficial for a fashion retail industry to improve its business performance.
Variables
In this research, the variables are the impact of social media (Independent variable) and consumers’ changing purchasing behaviour (Dependent variable). Social media is highly influential to the changes in purchasing behaviour of consumers in fashion retail sector. In the words of Guercini et al. (2018), technical advancement plays a crucial role in changing the purchasing behaviour of consumers.
Previously, consumers used to purchase their fashion products from local stores or domestic markets but with the development of business globalization, consumers have acknowledged more fashion products. In this aspect, they have been highly influenced by social media in which consumers can know about current fashion trends along with acknowledging the exact retail store where they will get their favourite outfit or fashion product.
As a result, fashion retail sectors are also upgrading their product design and stock based on consumer requirements obtained from social media marketing data.
Theory
The theory of planned behaviour can be appropriate to analyse the impact of social media on the changed purchasing behaviour of customers in the fashion retail industry. As stated by Tornikoski and Maalaoui (2019), the main content of this theoretical framework is behavioural intent and it is influenced by t5he possible benefits and risks of a particular aspect.
In this aspect, it can be stated that this theory will be able to explain the impact of social media on the changing purchasing behaviours of customers in the retail industry.
Literature gap
The research paper will be developed based on the theoretical knowledge that will be obtained from the collected journals and articles for this research. Personal experience will not be applied in this research and all the results and outcomes will be developed based on the secondary research (Laksamana, 2018). As a result, a possible gap will be generated in terms of the accuracy and validity of the results obtained from this research study.
Research methods
A positivism research philosophy will be used in this research study because that will help to generate research hypotheses for this study along with making this resear5ch more intense. A deductive research approach will be used in this study because it will be helpful to establish a causal relationship between the research concepts and variables that are ‘impact of social media on fashion retail industry’ and ‘changes in purchasing behaviour of the consumers’.
A descriptive research design will be beneficial to provide a proper structure to this research study (Mohajan, 2018). A qualitative method will be used to collect and analyse the required data for this research. Secondary data will be used to develop this research study in which relevant journals and articles will be collected from various databases such as Google Scholar and ProQuest.
A purposive sampling process will be followed to obtain data sampling process in this research study that will be beneficial to develop this research study from the limited available journals and articles. The PRISMA model will be used to select final data for developing this research in which inclusion and exclusion criteria will be followed (Zangirolami-Raimundo et al. 2018).
Besides that, proper ethics will be followed for this research in which permission will be taken from the authors for using their research work to develop this research study. The UK Data Protection Act 2018 will be followed to protect the collected journals and articles so that further legal issues can be prevented.
Conclusion
This research study will be developed based on four key points that are introduction or research background, summarised literature review, research methods, and concluding statement of this research. The introduction of this research study summarizes that with the advancement of technology consumers have started changing their purchasing behaviour and as compared to before they have expanded their market size (Ardiansyah and Sarwoko, 2020).
In this case, the local fashion retail stores have faced major losses in their business. The literature review of this study has summarised the concept of research variables and their relationship.
Relevant theory has also been suggested that can help to make this research more structured and informative. Research methods of this study have encapsulated the different tools and techniques along with methods and strategies that will be applied to develop this research study.
Based on the collected data followed by the chosen data collection methods, the collected data will be finalized for this research paper (Sudha and Sheena, 2017). Therefore, the impact of social media on the changing purchasing behaviour of customers will be discussed in this study.
References
Ardiansyah, F. and Sarwoko, E., 2020. How social media marketing influences consumers purchase decision: A mediation analysis of brand awareness. JEMA: Jurnal Ilmiah Bidang Akuntansi Dan Manajemen, 17(2), pp.156-168. Available at: https://www.tandfonline.com/doi/pdf/10.1080/20932685.2018.1407018
Guercini, S., Bernal, P.M. and Prentice, C., 2018. New marketing in fashion e-commerce. Journal of global fashion marketing, 9(1), pp.1-8. Available at: https://www.tandfonline.com/doi/pdf/10.1080/20932685.2018.1407018
Laksamana, P., 2018. Impact of social media marketing on purchase intention and brand loyalty: Evidence from Indonesia’s banking industry. International Review of Management and Marketing, 8(1), pp.13-18. Available at: https://dosen.perbanas.id/docs/wp-content/uploads/2020/08/02-Jurnal-Impact-of-Social-Media-Marketing.pdf
Mohajan, H.K., 2018. Qualitative research methodology in social sciences and related subjects. Journal of Economic Development, Environment and People, 7(1), pp.23-48. Available at: https://mpra.ub.uni-muenchen.de/85654/1/MPRA_paper_85654.pdf
Sudha, M. and Sheena, K., 2017. Impact of influencers in consumer decision process: the fashion industry. SCMS Journal of Indian Management, 14(3), pp.14-30. Available at: https://pdfs.semanticscholar.org/1469/eccb29f76b24e85cba8b6b60adf5ab4932d8.pdfm
Tornikoski, E. and Maalaoui, A., 2019. Critical reflections–The Theory of Planned Behaviour: An interview with Icek Ajzen with implications for entrepreneurship research. International Small Business Journal, 37(5), pp.536-550. Available at: https://ore.exeter.ac.uk/repository/bitstream/handle/10871/38782/Tornikoski%20&%20Maalaoui%20(2019)%20Discussion%20with%20I%20Ajzen%20-ISBJ.pdf?sequence=2
Zangirolami-Raimundo, J., Echeimberg, J.D.O. and Leone, C., 2018. Research methodology topics: Cross-sectional studies. Journal of Human Growth and Development, 28(3), pp.356-360. Available at: http://pepsic.bvsalud.org/pdf/rbcdh/v28n3/pt_17.pdf
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