Research Project on Social Media

The company which is taken in this assignment is Austin Frazer which is a consultancy firm that specialises in finding solutions for problems faced by different firms. As the company is working at the local level social media will help in establishing itself at the global level. Other than this, social media will assist a firm in connecting firm with its valuable customers in an effective manner.

RESEARCH BACKGROUND

AIMS AND OBJECTIVES

AIM

Aim in research plays a crucial role as on the basis of this entire research is being conducted. Thus, it is crucial that the investigator develops aims which are achievable. The aim of this research is “To determine the impact of social media is connecting with customers at a global level".

OBJECTIVES

• To analyse the concept of social media.
• To determine the importance of social media in business growth for Austin Frazer.
• To evaluate challenges which can be faced by Austin Frazer while implementing social media in their business operations.

RESEARCH QUESTIONS

• What is the concept of social media?
• How social media are important for Austin Frazer in terms of business growth.
• What challenges can be faced by Austin Frazer while implementing social media in their business operations?

RATIONALE

The main purpose of the research report is to evaluate the impact of social media on the growth of the business of Austin Frazer. Currently, the company is offering its services at the local level. So, it can be said that with the help of social media, this company can popularise its brand name as well as its services in the local market. There are probable chances that after adopting social media Austin Frazer can increase its number of Customers. Customers of the company are now aware of the products and services of this organisation. It can be said that social media will not only increase the customer ratio of the company but it will also help the organisation in increasing its profitability in the marketplace.

LITERATURE REVIEW

Concept of social media

Importance of social media in business growth for Austin Frazer

Challenges which can be faced by Austin Frazer while implementing social media in their business operations

RESEARCH METHODOLOGY

Research: Market research is a study of related existing problems by using scientific methodology. This investigation helps in analysing observed phenomena for relevant information. Every research has different rules and sets of objectives which are followed by researchers. This provides relevant and accurate data for solving given problems in business procedures and expansion plans. Moreover, it guides in decision-making programs by creating better choices for successful marketing.

Qualitative research: This methodology assists in understanding actual reasons and problems on the basis of non-statistical data. This process includes a sample which adds to at least six to ten people for proper response. Subject-related questions are asked from this group of people. It helps in understanding consumer's beliefs, behaviours, expectations, attitudes and assumptions towards providing services. Thus, it helps in better modifications for reducing recurring errors in specific products or services.

Quantitative data: It is based on statistical and mathematical data which is collected by surveys from related populations. This study identifies the relationship between one variable to another variable or outcome. The researcher mainly focuses on numerical and logical data for the experimental study. In this methodology, information is gathered from structured instruments which results based on a large sample size and the study can be repeated in respect of reliability. These investigations are used in future results prediction by using questionnaires and software.

Primary Research: It is conducted independently by the professionals or researchers to identify problem-related facts. It carried out correct answers on particular issues or tasks through the given population. Primary research is conducted by many sources for instance: interviews, questionnaires, diaries, speeches, case studies, autobiographies, clinical reports and so on. Research experts use mostly interviews and questionnaires for appropriate answers on time. The first inquiry can be done through face-to-face or telephonic interviews. During this researcher captured all responses by facial expressions and respondent's dialogues on problems. Secondly, it is focused on questionnaires which can be paper-based, or electronic (email).

Secondary Research: Under this investigation process, researchers are dependent on previous data which has already been collected by someone else. Analysts have gathered information from governmental departments, business magazines, local newspapers, company records,  trade committees and so on. It gives several benefits to an enterprise by providing summarised reports in less time and low cost. Investigators mainly focus on the Internet, public libraries, educational institutions and commercial information sources for collecting relevant data. It is a quick method for identifying facts but researchers should know where to explore for adequate data in a timely manner.

Data Sampling: this is the most important tool for collecting samples which shows many implications in the research process. It arranges a brief detail regarding to specific problem so analysts can easily find out the pros and cons for correct answers. This technique is conducted through random sampling which gives an equal chance to the population for selection. Secondly, stratified sampling breaks down a population into strata that have their own data. It's similar to a random tool but it has predetermine strata.

Questionnaire: A questionnaire is considered as the set of questions which are required to be answered by people. It is mainly designed in a structured form that might be presented in the written or printed. The questionnaire is formulated by the researcher in order to develop some important questions which might help in finding out the desired result from the selected respondent.

Interview: It is a formal meeting in which at least two people are required to participate. During an interview, one person asks questions from another in order to understand their point of view on the same topic or question. The person who asks questions is named as interviewer and the one who answers is named as interviewee.

Ethical Consideration:  It refers to norms and fair policies for conducting a research plan which reduces false data problems. The researcher should discuss properly everything by neglecting disagreements about who will receive credits and working relationship issues. As psychologist says investigators need to avoid relationships which exploit other people. Research programs, need to consider the question-making process so respondents will not get emotionally hurt during interviews. Thus, it ensures proper adequate information to the analyst in a given time without facing any unpredicted situations. In these procedures, the participant has the right to decline to participate and withdraw due to personal issues. Moreover, a researcher needs to ensure and maintain privacy with the respondent when conducting a research plan. This ethical consideration provides better guidance and the right methods for an investigator to gather relevant information. They hire only for generating accurate information not for false data or depiction so every communication must be done in a transparent manner. In interviews and other survey plans analysts should avoid biased behaviour with a given population. These were ethical considerations which is necessary to conduct a research plan and it addressed to high accuracy in their outcomes.

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