MGT5030 Research Methods Sample 

Introduction

Background of the research

This chapter provides an overview of the studies presented in this thesis. This chapter introduces the reader to the opportunities, and problem statements, meaning that Social media plays an important role in marketing and relationship building with limited client access, small businesses started using Social media as a means of marketing. Unfortunately, many small businesses have a hard time using social media and have no strategy to get into it. On the other hand, this small business also generates more revenue and more comparatively engage with their customers.

Purpose of the project

As a result, without the basic idea of the benefits of social media and how to use it by involving customers, many opportunities are missed. The purpose of the study to get a basic idea of how a small business is recognized for using Social media is used to develop business, engage customers’ research and research questions, as well as the estimates, constraints, and the limits of research.

Problem statement

Lack of proper marketing affects a small business by failing to develop a marketing plan that can lead to budget issues, low customer volume, and, in the worst-case scenario, business closure. Along with that maintaining an online presence is very needful when a business has a digital presence, it’s even easier for customers to find a business platform.

Aim

The main aim of this research is to challenge a small business during the time of adapting social media platforms.

Objective

  • To find out the impact of social media
  • To make an improvement in their employment and their skills
  • To embrace power shift through the usage of social media
  • To check out customer loyalty

Structure of the research

The current structure of the research work consists of five chapters. The chapters discuss- Introduction to research work and a critical analysis of the literature review. In addition, the methodology of this research work will be described in detail in the third chapter.

Figure 1.2 Dissertation Structure

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Literature Review

Introduction

In this part of the research work, the challenges faced by small businesses because of the adoption of social media have been discussed. Additionally, the analysis of the challenging factors will be elaborated. Furthermore, the framework and proper for dealing with the internal and external challenges will also be discussed.

Employment and skill training

The development of skill plays a vital role in empowering people individually and it helps to achieve a successful career for them. Apart from this, it allows developing the skill individually and gives the ideas of creating something new for the company. This development practice plays an important role in empowering the employees and gives them the proper guidance to improve their skills. Along with those skills plays a vital role for the growth of education as it helps to give people the better future. As mentioned by Ansari and Khan (2018), the organizations more likely work with the high skilled employees as it helps to achieve the success faster. On the other hand so many popular brands prefer to make develop the skills of the employees with proper guidance as it helps them to gain the loyalty of the employees. The employees get highly inspired by the marketing strategies of the company and it give them the courage to create innovative ideas to improve the company’s condition. The proper management and development of skill helps to make huge difference from the other companies by creating innovative products. Apart from this, there so many developer and software professionals that have made the work easier by using the advanced technology and their ability to advanced products help them to compete with the other companies. However, this skill helps to make them unique and create a strong base of the company in the marketplace. (Mammut et al. 2020).http://MGT5030 Research Methods Sample

Market integumentary

The special marketing strategies for promoting the business through social media can make a huge profit for the company. Apart from this, the communication with the online audience creates transparency between the company and the people. Small startup companies have to find more innovative ways to create the products so that they can catch the attention of the people. The small companies have to put more effort and constant monitoring of the activities of the people to help them understand their needs and demands. Along with that, the adoption of advanced technology helps small companies to reach more customers and it helps to build a strong business career in the marketplace.  According to Filip petti et al. (2019), there are so many monitoring tools available on social media that help to increase the engagement of the customers and it helps to target the youth. Wholesalers either take title to the product they buy or own the product they buy. It has two main consequences, both of which are essential for the distribution channel. First, it means that the wholesaler finances the purchase of the product and keeps the price of the product in stock until the product is sold. Since this is a huge expense, it pushes wholesalers to be precise and efficient in their purchasing, warehousing, and transportation processes

Social media embraces power shift

As mentioned earlier, this study found that trust and recommendation are two different things important factors for customer loyalty. As reported by Crammed et al. (2018), social media focuses on relationship building, it is a useful tool for the company in the process of gaining the trust of its customers. It’s also about production and sharing content, which is why it is also useful in conditions for consumers to recommend the brand to their friends. Studies confirm the survey and found that the majority of respondents agree that companies that use social networks media will benefit from this and gain a competitive edge over them to engage with customers which do not. Companies are increasingly taking advantage of opportunities that offer and use social media to interact with their customers as much as possible. However, consumers are no longer passive recipients, making it a challenge for companies to control what is said about them.

Literature gap

The problem of the Literature Gap has been raised because of the issues related to the websites and the pages on the internet while collecting the data for the research work. Along with that, so many Webpages have failed to give authentic data and some websites have denied the access as they want the viewer to get a premium membership.

Summary

This study stirs up the debate about the use of social media by small businesses and focuses on factors hindering the use of social media by small businesses. Following quantitative research methods, data were collected using a questionnaire for selected small businesses. The data collected is analyzed and compared with the main purpose of making visual statistics.

Methodology

Introduction

The research methodology of the business development project is the ideation of the methods and design used by the researcher while completing the project. It also signifies an appropriate approach in order to meet the motive of the research. It can be introduced that the data collection process is based on the secondary qualitative data retrieval procedure that serves as an appropriate match on part of the business attributes.

Research approach and design

The research design adopted here is the descriptive approach. It is observed that the aspect of business development in the era of digital disruption needs the use of descriptive data to determine the consequences of the business. The motive of the researcher is to provide a detailed description of the approach of a business in the aspect of developing business through social media. The retention of consumer feedback is better proposed in a descriptive format rather than a data-oriented study procedure (Doyle et al. 2020).http://MGT5030 Research Methods Sample It can also be said that the researcher focused on the depths of the business development process for the development of specific strategies in order to develop consumer loyalty toward a brand.

The approach of the research is based on the qualitative approach that signifies the information-oriented process of the research development. It is evident that the research focuses on the situational analysis of the business environment and a qualitative design helps fulfill the motive of the research in a better way. The researcher has focused on the attributes of the transformation and the development of the organizational framework, applying digital disruption in the process of consumer loyalty retention (Alipore et al. 2019).http://MGT5030 Research Methods Sample The approach signifies the development of the brand value towards the consumers by the process of providing perpetual services over digital media. It is evident that the popularity of social media is involved in the development of the business to a broader consumer base and increases the value of the organization.

Data collection process

The data collection process involved the secondary data collection method that delves into the retrieval of data from the authenticated journal and website contents. The process of primary data collection could not be executed because of the external restrictions due to the pandemic conditions (Martins et al. 2018). The process of secondary data collection has helped the researcher understand in depth the scope of the business by implementing digital disruption. It is evident that the growth of the business needs the structural development of a business while implementing globalization. Hence the secondary data collection method has provided a scenario-based approach of e organizations in understanding the positives and negatives to retain customer loyalty through social media platforms. The highlights of the secondary data are based on the approach of the organization in analyzing its consumer base and providing prospects for the brand to grow (Tien et al. 2019).http://MGT5030 Research Methods Sample

Ethics

The researchers have maintained the ethics of the research by implementing the data collection act. This also proves as an authentication that the retrieved data is from authentic sources (Schneider, 2018).http://MGT5030 Research Methods Sample Apart from that, the researchers have taken care of the fact that the identity of the individual is protected and data leakage is countered. In order to prove the authenticity of the data retrieved from the journal and scholarly articles, researchers have provided a list of references at the end of the research. The researcher signifies that the process of data collection has been focused to delve into public data and no intervention is made towards personal data or retrieval from archives.

Summary

The methodology can be summarized by the fact that the use of multiple methods helps in the extraction of the appropriate deduction. It is an essential part of the alignment of the project outcomes. The project also focuses on a descriptive design so that the situational based analysis of the project is well understood

Discussion

As an outcome of the widespread use of social media, the relationship between business and customers has started and is now closed more active than ever. In the vast world of social media platforms on the internet, it has proven necessary for online retailers to keep their existing users on. After reviewing online retailers by brand, it became clear that this is also something they value and strive for. Given their limited budget, they really wanted one, as it was more expensive to get new customers than to keep the old ones. As mentioned by Ali Galati et al. (2020), even though the way companies do business today has changed dramatically, they still think that customer loyalty is as important as ever. This study helps to understand that, apart from the need for competition, the presence of loyal customers also has a positive effect on brand profitability. While poor sales are a big factor in small business failure, social media is touted as an enabling panacea given the capacity of different users and platforms for a wider reach. Despite the major changes in marketing strategy during this revolution, some companies have failed to capitalize on the potential of social media. As stated by Ritz et al. (2019), one or the other is interested in expert opinion on whether one has marketing qualifications or not, what factors are preventing them from fully implementing social media to infrastructure, lack of knowledge about potential social media platforms, and general disinterest in social media.MGT5030 Research Methods Sample

Schedule

Activities 1st & 2nd Month 3rd & 4th Month 5th & 6th Month 7th & 8th Month 9th Month
Topics selected
Planning of research rationale
Literature review
Methodology
Submission of the research study

Table 1: Gantt Chart

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Reference List

Ali Galati, S., Li, W., Ahmed, N., Ali Mirani, M., and Khan, A., 2020. Examining the factors affecting SME performance: the mediating role of social media adoption. Sustainability, 13(1), p.75.

Alipore, S., HASHEMI, S.M. and Ameri, S.M., 2019. Providing a Cultural Model for Developing Home Businesses in Tehran Based on Qualitative Approach.

Ansari, T.H. and Khan, M.A., 2018. Role of Education and Skill Development to Promote Employment in India. Skill India Opportunities and Challenges, pp.208-214.

Crammed, R., Omaha, K.O., Murray, A., and Ledger, K., 2018. Managing knowledge through social media: Modelling an entrepreneurial approach for Scottish SMEs and beyond. Baltic Journal of Management.

Doyle, L., McCabe, C., Keogh, B., Brady, A., and McCann, M., 2020. An overview of the qualitative descriptive design within nursing research. Journal of Research in Nursing, 25(5), pp.443-455.

Filip petti, A., Guy, F. and Amarion, S., 2019. Regional disparities in the effect of training on employment. Regional Studies, 53(2), pp.217-230.

Mahut, Ö.Z.E.R. and SUNA, H.E., 2020. The linkage between vocational education and the labor market in Turkey: Employability and skill mismatch. Katmandu Elitism Derigs, 28(2), pp.558-569.

Martins, F.S., da Cunha, J.A.C. and Serra, F.A.R., 2018. Secondary data in research–uses and opportunities. PODIUM sport, leisure, and tourism review, 7(3).

Ritz, W., Wolf, M. and McQuay, S., 2019. Digital marketing adoption and success for small businesses: The application of the do-it-yourself and technology acceptance models. Journal of Research in Interactive Marketing.

Schneider, K.P., 2018. Methods and ethics of data collection. Methods in pragmatics, pp.37-93.

Tien, N.H., Phou, P.P. and Chi, D.T.P., 2019. The role of international marketing in international business strategy. International Journal of Research in Marketing Management and Sales, 1(2), pp.134-138.

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