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edu no longer supports Internet Explorer. To browse Academia. edu and the wider internet faster and more securely, please take a few seconds to upgrade your browser. Log in with Facebook Log in with Google. Remember me on this computer. Enter the email address you signed up with and we'll email you a reset link, ed coomes masters thesis. Need an account? Click here to sign up. Download Free PDF. The Impact of Social Media on Marketing Strategy.
Richard Fullerton. Download Download PDF Full PDF Package Download Full PDF Package This Paper. A short summary of this paper. THE IMPACT OF SOCIAL MEDIA ON MARKETING STRATEGY Richard Fullerton Dissertation submitted to Oxford Brookes University for the partial fulfilment of the requirement for the degree of MASTER OF SCIENCE IN E-MARKETING.
The networked market knows more than companies do about their own products, ed coomes masters thesis. And whether the news is good or bad, they tell everyone. The Cluetrain Manifesto, Thesis However, the growth of social media has empowered consumers, and they are now not only having conversations online with other consumers but are demanding to have conversations and interactions with the brand.
The aim of this study is to establish the impact that social media are having on organisational marketing strategy. A thorough examination of the extant literature shows that marketing is being challenged, experiencing difficulty in value creation, a loss of influence, media fragmentation, ed coomes masters thesis, and commoditisation of the marketing mix. However, the literature also suggests that social media may assist in overcoming these challenges, facilitating the creation of the value and innovation needed for growth and competitive advantage.
The resulting conceptual framework formed the basis of primary research involving an exploratory and explanatory study of seven well-known consumer brands. Semi-structured interviews were held with key individuals in these firms. The key findings were that in some areas such as branding and customer engagement, practitioners are aligned with marketing theory.
They see a role for social media but it is tactical at present, ed coomes masters thesis, rather than the strategic role suggested by the literature. The conclusion of the study is that scholars see social media as having a bigger impact on marketing strategy than marketers do.
However, the Author suggests this impact is evolutionary rather than revolutionary and their mere adoption does not guarantee competitive advantage, which organisations must continue to seek by developing superior, core competencies. iii QUOTATION…………………………………………… iv ABSTRACT …………………………………………… v TABLE OF CONTENTS…………………………………. vi-xii LIST OF TABLES………………………………………… xiii LIST OF FIGURES………………………………………. They are growing in popularity due to the advantages they offer consumers such as transparency, referrals, and ease of communication, and the empowerment they bring Urban, This has left marketers scratching their heads as to how to react Mangold and Faulds, Since they represent a challenge for marketers, the Author decided that social media would be the area of interest for his study.
The aim of this study is to explore the impact of social media on marketing strategy. Some researchers even go so far as to suggest that as a result of social media, the consumer now defines the brand Li and Bernoff, Challenges to Marketing Strategy: The literature review reveals that marketing is in decline. Each of these areas is shown to be facing challenges. These then are the reasons why the Author believes that this topic is important and bears investigation. The practitioner marketer will gain a much greater understanding of both the current challenges that marketing strategy is under and the new challenges that social media are posing.
What was clear from interviewing marketers in the course of this study is that many are not aware of the academic arguments concerning marketing and social media and this paper is a useful précis of this. Academics will benefit from this study because although they will be familiar with both subject areas and the arguments therein, the Author suggests that this is a rare instance where marketing strategy and social media have been linked and examined together.
It is hoped ed coomes masters thesis this study will be a useful academic contribution to this engaging topic. Based on his earlier reading for the research proposal, the Author selected his research question as What is the impact of social media on marketing strategy? However, the Author ed coomes masters thesis that he should make clear what the study is not about. It is not about social media strategy or about the characteristics and benefits of specific social media tools, ed coomes masters thesis.
Additionally, this review is business-to- consumer B2C oriented — no attention is given to business-to-business B2B literature. This is intentional for three reasons: firstly, there is much more literature available on social media for B2C. Secondly, the concepts are easier to explore via the B2C environment. Lastly, to mix the two would complicate a research problem that is already very challenging.
This is the approach adopted. The research objectives are: 1, ed coomes masters thesis. To explore the contemporary issues raised by the literature within strategic marketing. To establish the gap between practitioner perspective and activity, and the published literature.
To analyse the impact of social media on marketing strategy, ed coomes masters thesis. A total of eight interviews were conducted with seven companies. To gain a comprehensive view of the issues, some practitioner literature is included.
In Chapter 2, marketing strategy and strategy are defined and explored and the choice of marketing ed coomes masters thesis justified. This is necessary because unless a full understanding of marketing and strategy is gained then the problem cannot not be solved. Chapter 4 explores how social media could answer the set of challenges identified.
A conceptual framework is created which forms the basis of the research study. Chapter 5: This ed coomes masters thesis the methodology for the study. This explains how the research objectives will be achieved and explains the theoretical and philosophical approach.
It explains the choice of data collection ed coomes masters thesis and analysis methods to be used, ed coomes masters thesis. Chapter 6: This chapter reveals the findings of the study.
Chapter 7: This discusses the findings by comparing them to the theories and ideas identified within the critical literature review. Chapter 8: This chapter contains the conclusion to the study and includes the limitations and recommendations. The Author recommends that those who are not familiar with social media could benefit by reading Appendix A prior to reading the literature review.
It gives a useful background to the social web. These assist the reader in linking one section with another and maintain a thread throughout the whole argument. The Author draws the reader to an important issue regarding sources of material. However, ed coomes masters thesis, because peer-reviewed material is often very dated on publication this means that its currency is poor. With social media being such fast-developing phenomena the Author felt it necessary to use certain practitioner sources to get the latest insights and expertise on Web 2.
It then explores marketing strategy and the hierarchy of strategies in organisations, and ends with a choice of marketing paradigm. Porter argues that a company has two levels of strategy: Organisational strategy and business unit strategy.
Competitive strategy theory Porter, broadly states that firms can follow a cost leadership strategy low prices, standard productor a differentiated strategy added value, higher price.
Strategic fit creates competitive advantage. Brennan et al. Unfortunately, it is not. By making ed coomes masters thesis more efficient e. cutting costs, instead of more effective e, ed coomes masters thesis.
achieving strategic goals such as a competitive position, they threaten their own survival. The Author considered the impact of the internet on strategy and how ed coomes masters thesis might inform as to Web 2. Porter states that many people thought that the internet would make strategy redundant, but argues that the reverse is true, ed coomes masters thesis. The latter has now been realised e.
eBay Kumar, Ed coomes masters thesis, recent work by Chakravarthy and Henderson challenges the hierarchical nature of the relationship and suggests a heterarchical relationship Figure 2. Examples are email, instant messaging and of course, social networks. structure FIGURE 2. Varadarajan and Jayachandran state that corporate, business and marketing strategies interact to define the competitive advantage of SBUs in a company.
It is the merging of these strategies that specify the degree to which a business can gain and sustain that advantage. Chakravarthy and Henderson argue that the challenge of this heterarchy is continuous renewal, not just of positioning the firm in a more attractive market space but of developing competencies to defend these positions. These issues are explored in Chapter 4. Dibb et al. But neither of the above definitions mention value, suggesting something is missing because the essential idea of marketing is to create value Sheth and Uslay, ; Doyle,a theme which features throughout this study.
Cravens and Piercy include value for the customer, instead of shareholder value: Marketing strategy seeks to deliver superior customer value by combining the customer-influencing strategies of the business into a coordinated set of market- driven actions p. In reality value is now jointly created between the customer and the producer Prahalad and Ramaswamy, a; Payne et al.
However, Day et al. From these definitions it is clear that for some academics marketing strategy is a practical process that ensures the right products are served to the right markets, whilst others place it on a higher strategic plane and consider that it is about achieving value, even having a specific role of providing a competitive advantage.
Literature Review in a Masters Dissertation
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