Comprehensive Project Report

On

“Study on effect of social media on Business & marketing strategy

in Service Sector (Gujarat)”

Submitted to

Institute Code:

839
Institute Name: Graduate School of Management Studies, GTU

Under the Guidance of

Dr. Krishna Vaghela

Assistant Professor

GSMS, GTU

In partial Fulfilment of the Requirement of the award of the degree of

Master of Business Administration: International Business (MBA-IB)

Prepared by: Saiyam Koli (198390593031)

MBA IB (Semester - IV) Month & Year:

April 2021

1
 Student’s Declaration

I hereby declare that the COMPREHENSIVE Project Report titled “Study on effect of social
media on Business & marketing strategy in Service Sector (Gujarat)
” is a result of my own work and my indebtedness to other work publications, references, if
any, has/have been duly acknowledged. If I/we am/are found guilty of copying from any
other report published information and showing as my/our original work, or extending
plagiarism limit, I/we understand that I/we shall be liable and punishable by the university,
which may include ‘Fail’ in examination or any other punishment that university may decide.

Enrollment No. Name Signature

198390593031 Saiyam Koli

Place: ........ Date: ........

Date: / /
 Institute Certificate

This is to certify that this COMPREHENSIVE Project Report Titled “Study on effect of social
media on Business & marketing strategy in Service Sector (Gujarat)” is the bonafide work
of Saiyam Koli (198390593031), who has carried out his project under my supervision. I also
certify further, that to the best of my knowledge the work reported herein does not form
part of any other project report or dissertation on the basis of which a degree or award was
conferred on an earlier occasion on this or any other candidate. I have also checked the
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separate plagiarism
report in the form of html /pdf file is enclosed with this.

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 ACKNOWLEDGEMENT

In performing my research, I had to take the help and guideline of some respected persons,
who deserve my greatest gratitude. The completion of this research project gives me much
Pleasure. I would like to show my gratitude to my professor Dr. Krishna Vaghela for giving
me a good guideline for research project throughout numerous consultations. I would also
like to expand my deepest gratitude to all those who have directly and indirectly guided me
in writing this assignment.
 Abstract
This research is aiming to improve performance indicators in business units through the
development of a social media framework that helps businesses to systematically adopt social
media.
The researcher examined literature in addition to surveying personnel of businesses in
Gujarat, in order to reveal how they perceive use of organizational use of social media from
different axis: experience with social media business profiles (SMBPs), extent of knowledge
about performance metrics of their business units and most likely affected units with use of
social media, expectations from exploitation of social media, and others; by using google form
survey. Variables extracted from analyzing survey and investigating literature has been used as
a base of the solution framework. Stakeholders and factors that affect social media adoption
were analyzed and embedded in the solution framework.

Keywords: - Social media, effect, performance, business, SMBPs, Gujarat, metrics, survey
 Index

Sr. No. Title Page no.

1 Introduction 07

2 Review of Literature 12

3 Research Methodology 10

4 Data Analysis & Interpretation 12

5 Fascinating Social Media Marketing Statistics 16

6 Conclusion 20
 Introduction
What is the meaning of Social Media Marketing?

The meaning of the term ‘social media’ can be derived from two words which constitute it.
Media generally refers to advertising and the communication of ideas or information through
publications/channels. Social implies the interaction of individuals within a group or
community.

Taken together, social media simply refers to communication/publication platforms which are
generated and sustained by the interpersonal interaction of individuals through the
specific medium or tool. Wikipedia has a general definition of the term: Social Media is the
democratization of information, transforming people from content readers into content
publishers. It is the shift from a broadcast mechanism to a many-to-many model, rooted in
conversations between authors, people, and peers.

Social media marketing refers to the process of gaining website traffic or attention through
social media sites. Social media marketing programs usually center on efforts to create content
that attracts attention and encourages readers to share it with their social networks. A
corporate message spreads from user to user and presumably resonates because it appears to
come from a trusted, third-party source, as opposed to the brand or company itself.[citation
needed] Hence, this form of marketing is driven by word-of-mouth, meaning it results in
earned media rather than paid media.
 2. Review of literature
1.) Mohammad Furqan Khan1,
Dr. Anisa Research Scholar,
School of Business Studies ,

Social media and social media marketing are sometimes used interchangeably, but two indeed
are different. The purpose of this research paper is to revisit the literature on both concepts
and correlates them in technical terminologies. We have studied the literature available on
Social media first and identified the basic functionalities of it. Then the literature available on
social media marketing helped us in identifying its dimensions. In conclusion section of the
research paper we have correlated the two concepts and redefined social media marketing in
technical terms

2.) Helena Alves (University of Beira Interior and NECE)

Cristina Fernandes Polytechnic Institute of Castelo Branco
and NECE Mario Raposo University of Beira Interior and NECE

This study carries out content analysis and systemizes articles on social media marketing in the
Web of Science database. Forty-four studies were analyzed in accordance with a variation on
the systematic review approach, involving synthesis- and interpretation-based assessment. The
results demonstrate how most of the studies analyzed focus on the consumer perspective in
terms of usage, share, and influence of social media on consumer decisions, and perceptions.
The studies focusing on the firm’s perspective centered not only on the usage of social media,
but also on their implementation, optimization, and measurement of results. The majority of
studies are quantitative and published in recent years. This study not only reached certain
conclusions for both theory and practice, but also defined future lines of research according to
the gaps detected by the study’s results.

3.) Ms. Sisira Neti

Asst. Professor Department of Business Management PG Centre,
Lal Bahadur College Warangal.

Social Media, today, is among the ‘best opportunities available’ to a brand for connecting with
prospective consumers. Social media is the medium to socialize. These new media win the
trust of consumers by connecting with them at a deeper level. Social media marketing is the
new mantra for several brands since early last year. Marketers are taking note of many
different social media opportunities and beginning to implement new social initiatives at a
higher rate than ever before. Social media marketing and the businesses that utilize it have
become more sophisticated. One cannot afford to have no presence on the social channels if
the competitor is making waves with its products and services. The explosion of social media
phenomenon is as mind boggling as that and the pace at which it is growing is maddening.
 Global companies have recognized social media marketing as a potential marketing platform,
utilized them with innovations to power their advertising campaign with social media
marketing. This paper discusses about the concepts of social media and social media marketing
and other aspects like the growth and benefits, role and relevance of social media in
marketing, social media marketing strategies. It also presents an overview on social media
marketing in India.

4.) *Assistant Professor & Head, Department of Commerce & Management

Dr. C. V. Raman University, Kargi Road, Kota, Bilaspur, C.G., India.

Today, we are in 21st century and people do not find time to come & interact with each other.
Social media helps in connecting themselves with social networking sites through which now
people can stay far and yet remain connected. Apart from this media like Facebook create a
loyal connection between product and individual which leads to large advertising
opportunities. Similarly, other social media like Blogs create a platform to post comment on
any event which needs to be publicized also can be utilized as a promotional technique for
customer’s adoption as well as for promotions. Now users are acquiring followers &
subscribers and directing them to your social networking page. These media have a
competitive edge over other popular public media like Television because there is a time gap
between social event occurrence and the time it is being broadcasted. This research paper
emphasizes on the strategies which can take this viral marketing mode beyond the normal
social media at present. As a result, it can also help in building your community strong enough
to make your marketing effective & initiative buying.

SUMMARY OF THE LITERATURE REVIEW

This literature review has been studied until tells the social media marketing is a platform to
reach our customer with the minimum constraints and made a direct link between marketers
to customers. Social media marketing is a new concept from business point of view, it is a
chance for marketer to grab the opportunity of social media marketing for promoting their
product and target their customers. Today people don’t have time to go for shopping or time
to analysis which product is good or bad. In the other hand technology is increasing rapidly and
people is connecting day by day in social media marketing, internet is available everywhere
now , Marketer find this opportunity to create a new marketing concept and it’s create a
opportunity for business to invest their money in social media marketing so people easily able
to know which brand is promoting which product. Role of social media marketing increasing in
the world and it’s providing benefits to all Over the world.
 Research Methodology

Scope of the study:

 To understand impact of social media strategy on service sector

Objectives of Study:
 To Analysis benefit of social media to business of service sector
 How strategy useful in business

Limitations of the study:

 Study is limited to specific sector i.e. Service sector

 The respondents may not express their honest opinion and views on their practices.

Research Design:
 Descriptive Research Design

Research Approach:
 Survey method is used for research and secondary data

Research instruments:
 The structured questionnaire was the research instrument adopted for collecting
data in this research.

Research Procedure:

 The questionnaire is distributed to respondents by internet link and they completed

the questionnaire by their mobile or computer in form of “Google form”.
Study area:
 The present study was conducted at gujarat.

Study population:
 Individuals will be considered as population for present study.

Data collection method:

 Primary & Secondary

Data collection Tool:

 Questionnaire

Sampling Method:
 Convenience Sampling

Sample size: 40
Data Analysis & Interpretation
 Fascinating Social Media Marketing Statistics

Social Media Marketing for Business

Following are some important user-related social media statistics for businesses to help
them realize how big of marketing avenues the digital social platforms are:

More than 1 in 3 online users say they go to social media when looking for more information
about a brand or a product.

(Source: Small Business Trends)

Younger people are more likely to search for info on social networks.

 Close to 40% of internet users aged 18-34 in the US are interested in purchasing via
social media. Aged 55 and older are a lot less enthusiastic to buy via the same
channels – only 11% of the respondents.
 According to GlobalWebIndex, 54% use social media to research products.
 49% of consumers say they depend on recommendations from social media
influencers to help with their purchasing decision.
 71% of consumers who have had a positive experience with a brand on social media
are likely to recommend it to their friends and family.

It is clear that social media marketing is a solid strategy. People are now used to checking
everything online first to make a more informed decision. If you are active on social media,
you show customers you care about them and want to make their buyer’s journey as
smooth as possible.

This will help you build positive relationships with clients – don’t ignore them, and aim to
respond quickly and efficiently.

In return, they will happily share their positive experience with friends and family, which
may bring you, new customers.

Moreover, connecting with trusted influencers (you’ll find them mostly on Instagram and
YouTube) is also a great tactic to promote your products and reach a larger audience.

73% of marketers believe that their efforts through social media marketing have been
“somewhat effective” or “very effective” for their business.

(Source: Buffer)

In general, social media gives your business the boost it needs. Look at that:
  Almost 90% of marketers say their social marketing efforts have increased exposure
for their business, and 75% say they’ve increased traffic.
 Over 50% of marketers who have been implementing social media marketing tactics
for at least 2 years have reported improved sales.
 44% of local businesses say they depend on social media to generate brand
awareness, and 41% depend on it to drive revenue.
 77.6% of small businesses report using social media to promote their businesses.
(Facebook is their top used platform by far – and no wonder since 68% of U.S. adults
are Facebook users).

Marketers are taking full advantage of social media and their efforts certainly pay off.

But let’s see what consumers have to say:

Visual content is more than 40 times more likely to get shared on social media than any
other type.

(Source: Oberlo)

Social media allows for video marketing that reaches customers. Here’s the proof:

 Over 4.4 million videos were uploaded directly to Facebook in February 2016,
generating over 199 billion views.
 In 2015, YouTube accounted for 40 billion all-time views for branded content.
 On Instagram, videos get 21.2% more interactions compared to images and 18.6%
more interactions compared to carousels.
 During 2018, the ad spending on social video in the US increased by 38.1%, reaching
$7.85 billion.

All these social network statistics imply that visual content is a must nowadays. If you want
to attract people’s attention and make them remember your brand, this is the way to go. All
social media allow for video marketing, and the stats don’t lie – pictures are great, but
videos are even better.

68% of Instagram users engage with brands regularly.

(Source: Small Business Trends)

Instagram is one of the places where people engage with brands the most.

 Instagram has 58 times more engagement per follower than Facebook and 120 times
more than Twitter.
 50% of Instagram users follow a business.
 60% of Instagrammers learn about a service or a product on Instagram.
 75% of Instagrammers will visit a website, search, shop, or tell a friend when they
get inspired by a post.
These high numbers clearly show that Instagram is the place to be. Customers are way more
likely to engage with brands on Instagram than on Facebook. However, don’t write off
Facebook just yet.

32% of influencers claim that Facebook is the best social media platform for influencer
marketing.

(Source: Small Business Trends)

This means if you work with influencers, you can take advantage of that too.

 8% of social media marketers worldwide stated that Facebook produced the best
ROI.

And back to the power of visual content:

 Images are responsible for 75 to 95% of an ad’s performance on Facebook.

So the lesson is the same – always include images. And when it comes to videos, don’t
forget to include subtitles, because most people watch them on mute (yes, just like you do).

81% of Twitter users claim that Twitter impacts their purchasing decisions more than TV.

(Source: Small Business Trends)

You’ve probably already realized that TV ads are a thing of the past. Big money is in social
media advertising now.

 70% of small business followers retweet content.

 72% of brand followers are likely to make a purchase in the future.
 53% of Twitter users say they bought a product they first saw on the platform.
 Promoted tweets boost offline sales by 29%.

Marketing on Twitter looks better than ever. As one of the major social media platforms,
Twitter is here to facilitate the development of your business.

You see how effective social media marketing is.

Just remember to be active and responsive because

 78% of people who complain to a brand on Twitter expect a response within an

hour.

If you respond to their complaint quickly, they’ll be more willing to forgive you and remain
your loyal customer.
50% of B2B buyers use LinkedIn when making purchasing decisions.

(Source: Small Business Trends)

 7 out of 10 professionals describe LinkedIn as a trustworthy source of professional

content.
 Right now the number of marketers sharing video content on LinkedIn is about 55%
and this is expected to rise to 65% in 2021.

 There are more than 3.5 billion active social media users today.
 There are more than 50 million small businesses using Facebook Pages to connect
with customers.
 According to 90% of marketers, their social media marketing efforts have increased
the exposure of their business, and 75% say they’ve increased traffic.
 71% of consumers who have had a good social media experience with a brand are
likely to recommend it to others.
 21% of consumers are more likely to buy from brands that they can reach on social
media.
 74% of consumers share video content from brands on social media.
 80% of social marketers say their key strategy is to increase engagement across
social channels.

On average, here is how much time people spend on each social platform every day:

 40 minutes on YouTube
 35 minutes on Facebook
 30 minutes on Snapchat
 15 minutes on Instagram
 1 minute on Twitter
 6. CONCLUSION & IMPLICATION
At the heart of any Business are Customers, and Social networking represents an
opportunity to build even more mutually rewarding and candid relationships with those
Customers. But for organizations to realize tangible business benefits, they need to find
better ways to plan, manage, and measure their social networking efforts. Social media
deals with engaging the customers & vendors and maintaining a bridge between these two.
With the advent of internet and ongoing changes in Consumer Behaviour, last decade has
witnessed revolutionary growth in E-Commerce and E Business in India because of
significant use of Social media marketing tools.

Social marketing uses the benefits and of doing social good to secure and maintain customer
engagement. In social marketing the distinguishing feature is therefore its "primary focus on
social good, and it is not a secondary outcome. Not all public sector and not-for-profit
marketing is social marketing.

Increasingly, social marketing is being described as having "two parents"—a "social parent"
= social sciences and social policy, and a "marketing parent" = commercial and public sector
marketing approaches.

Public sector bodies can use standard marketing approaches to improve the promotion of
their relevant services and organizational aims. This can be very important, but should not
be confused with social marketing where the focus is on achieving specific behavioral goals
with specific audiences in relation to different topics relevant to social good (e.g.: health,
sustainability, recycling, etc.) There is no escaping social media these days, either for
individuals or for businesses.

Today, it is impossible to separate social media from the online world. The social media
conversation is no longer considered a Web 2.0 fad -- it is taking place in homes, small
businesses and corporate boardrooms, and extending its reach into the nonprofit, education
and health sectors. From feeling excitement, novelty, bewilderment, and overwhelmed, a
growing number of people now speak of social media as simply another channel or tactic.
Blogging can have a very positive effect on your Company’s branding growth. As per the
HubSpot report, Customers with blogs gathered 68% more leads than customers without
blogs. It is imperative to understand that today, social media have exponential potential.
They are part of an evergrowing online network of people who discuss, comment,
participate, share and create.

Whether you are an individual, a startup, small business or a large corporation, an online
presence and an ongoing conversation with your constituents is a baseline requirement --
 and50 will take time and expertise. Companies are diverting resources and rethinking their
traditional outreach strategies. And as the social media wave dissipates into the vast ocean
of connected experiences, the term itself will become an entry in dictionaries and
encyclopedias and we will embark on a new era of knowledge, accessibility and experiences
unbound by distance, time or physical walls. It is high time that every business adopts social
media and takes it seriously.

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