IMPACT OF SOCIAL MEDIA ON CONSUMER BUYING BEHAVIOR
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INSTANT PROJECT MATERIAL DOWNLOADIMPACT OF SOCIAL MEDIA ON CONSUMER BUYING BEHAVIOUR (A CASE STUDY OF LAGOS STATE UNIVERSITY STUDENTS)
1.1 INTRODUCTION
			  New technological inventions can have a great impact in 
organizations  through its contributions to change the social 
environment while expediting  sharing of knowledge and the development 
of new ideas. (Kling et al, 2005).  Social Media will come in handy as a
 good example of new technological  innovation that is making a great 
impact in the organizations of today.
			  In time past, the social media inspired technologies were seen as a
  chapter. But time has proven that wrong. We have seen the world being 
 transformed daily by these new collective technologies, which is giving
 a new  hope to organizations with impacts which were never considered 
to exist  initially.
		    
Today, most organizations are mainly interested in
 incorporating  social media into the business structures of their 
organization, but do not  have a proper know-how of what social media is
 all about. They also don’t have  a tangible channel to ascertain the 
gain that these technologies hold for them.  In a survey carried out in 
2009 by McKinsey and Company, it was discovered that  with the 
appropriate use of the social media a lot of organizations were able  to
 benefit from each other in ways such as sharing of ideas, communication
  becoming better and the workplace environment becoming enhanced. The 
value that  social media adds in organizations is huge as an increasing 
number of  organizations are already endorsing and exploiting the 
various opportunities in  social media technological innovation. This is
 to enable them find support for  their various organizational and 
business practices (Starmark, 2008;).
		    
Social media hold a lot of interesting 
opportunities, but it is  important to understand how to utilize it with
 its accompanying impact in an  organizational context beside where it 
is applicable in real‐life projects. The  present day organizations 
should ask questions like how can employees use social  media 
technologies to do their work and what impact these have on employees.  
These should be pivotal questions for modern day organizations. These 
questions  can help organizations to understand how social media 
technologies work  effectively at workplace. Thus, it affords them the 
opportunity to review and  understand how to utilize what it offers with
 its impact on how people interact  and work among them as earlier 
discussed.
		    
Hill (2009) portrayed Globalization as the 
deviation towards a more  unified and co-dependent economy which is 
historically merging different  national markets into one global 
enormous marketplace. The Economic Intelligence  Unit (2009) announced 
that, the global market place was overwhelmed by  variations in exchange
 rates, the purchasing behavior of consumers and  inflation in the 
course of the recession that started in 2007. These economic  
developments have ended up compelling organizations to redesign their 
business  strategies so they can be able to communicate their brands 
more effectively.  Davis (2001) writes that brand is one of an 
organization’s most prized assets  which simply imply that there is a 
demand on the present day organization to  understand that it is 
important for them to capitalize on their brand. This can  help them 
maintain a profitable growth and achieve sustained profitability 
objectives.
			  There are various means of building brands, which can come in form 
of  advertising, meeting specific needs of customers, attaching a 
particular image  to a service or product, identifying and meeting a 
need that competitors are to  identify, combative communication and 
strategizing price (Burger et al, 2009).  As recessions is towering in 
recent times of high, it became very imperative  for organizations to 
maintain honest, clear medium of communication and retain  a good image 
in a cost effective means (Unit for Economic Intelligence, 2009).  
Social media marketing was one of the popular channel organizations used
 to  communicate their brands during the recession. Some of those 
mediums are;  online electronic media which helps facilitates 
participation, responsiveness,  consultation, connectivity and 
networking amongst online end users (Mayfield,  2008).
		    
Social media channels like Twitter, Facebook, YouTube, LinkedIn etc are some of the dynamic tools that have helped facilitate online rapport (Golden, 2011). Relatively, it is a low cost pattern of marketing which allows organizations to engage direct end-users through their contacts (Heinlein and Kaplan, 2010).
Brands and consumers have a changing role to play 
in the organization’s  strategy given the choices made available to 
consumers and the prominent role  of social media marketing being that 
they now have an impact on the economy  (Mayfield 2004, Lindeman, 2008).
 Brands have huge influence on customer choice  and customers influence 
other customers. Affecting repurchases are these series  of events, 
which goes on to affect earnings in the future and long term 
organizational  continuity (Oliveira and Sullivan, 2003).
			  
Thus, consumer’s buying behavior is often 
influenced by a leading  brand. This value is created by generating 
demand (via repurchases) and  securing of future earnings for the 
organization (Sullivan and Oliveira, 2003).  Therefore social media 
marketing serves as opportunities for communication and  depends upon 
new and unusual thought patterns (Heinlein and Kaplan, 2010; Kweskin,  
2008). This helps customer’s product and brand experience.
			  This new era of digital communication and social engagement is  
preeminent for strategizing in business. Therefore as organizations are 
 becoming more competitive globally, it is pertinent for them to explore
  marketing strategy in a more compelling and innovative way so as to 
attract  larger number of customers (Rockendorf, 2011).
1.2 PROBLEM STATEMENT
			  The coming of the Internet and its acceptance by the public, have  altered quite a lot in the way organizations promotetheir services and  products as well as the channels of  communication between them and theircustomers. This is seen in the way they market and  communicatetheir brands and products nowadays which is  becoming a challenging project.
			  Customers are overwhelmed by marketing commercials and promotional 
 events. The sensitivity of customers to get excited is fading out on  
promotional events and consumers are beginning to resist the efforts of 
some  companies at marketing them.
			  Basically, the promotional focus of some organizations is on the  
conventional mass media advert style which includes commercials on TV, 
radio  jingles and advertisements in print formats such as newspapers 
and magazines  along with billboard placements. It is now on record that
 as the Internet is  fast advancing across the global marketplace, the 
effectiveness of traditional  mass media is fast on the decline.
1.3 Objectives of the research
                
			  The  main objective of this study is to examine the impact of 
social media on buying  behavior of consumers. Specific objectives of 
the study are:
- To examine students’ perception towards shopping online.
- To examine factors that motivate student buyers to shop through social media platforms.
- To examine how social media channels have affected buying behavior of Lagos state university students.
1.4 RESEARCH QUESTIONS
- What perception do students’ have towards shopping online?
- What factors motivate student buyers to shop through social media platforms?
- How have social media channels affected buying behavior of Lagos state university students?
1.5 RESEARCH HYPOTHESES
			  1.      HO: Students have negative perception towards online shopping.
  Hi:  Students have positive perception towards online shopping.
			  2.      Ho:  There is no significant relationship between social media channels and buying behavior  of consumers.
  Hi:  there is a significant relationship between social media channels and buying behavior  of consumers.
1.6 SCOPE OF THE RESEARCH
			  With regard  to the objectives, conducting the research from the 
perspective of consumers  would be a considerably suitable approach. The
 researcher realizes that there  are many available reports and studies 
which rather aims to help businesses to  gain a better understanding in 
social media marketing but not to help consumers  to identify reasons 
that social media has changed their decision making  process. Since the 
purpose of marketing is, in sum, about consumer; therefore,  by having 
the starting point from the perception of consumer, and by collecting  
data from consumers’ point of view, fresh insights can be gathered. The 
 research also aims to serve as an indicator to potential readers 
(companies) of  how they can tab into the decision making process via 
social media sites. The  research focuses on the behavior of end 
consumers (individuals) and  particularly within the retailing industry,
 for instance clothing, food and  beverage, consumer electronics, and so
 on. 
This material content is developed to serve as a GUIDE for students to conduct academic research
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