Research Application In Global Business
Factors affecting Business growth
With the rise in technology and emerging of new concepts into marketing field such as social media marketing, mobile, internet, email marketing and other related have certainly gained high amount of awareness. It is also evident from the study of Sultan and Rohm, (2005) that changes in cultural aspects of individuals in present era has influenced them to incline more towards the internet and mobile phones. With this particular scenario, social media and other related internet based marketing practices gained high amount of attention among varied individuals. Therefore, these have emerged as a first choice of marketers while developing marketing campaigns. With the help of social media and other related internet based marketing practices, company is able to reach to audiences at large. Due to its high amount of awareness, numerous researches are conducted over internet marketing and similar marketing practices. Moreover, it attracted the attention of various research scholars and authors that have created a sound literature of the same (Putte and Bas, 2009). But still less is explored in the context of mobile marketing.
Besides this, viral marketing is a practice that aids in promotion of products and services by relying majorly on customers in order to market any idea, services or products by customer itself as they share information among peer groups through word of mouth. It is a contemporary practice that is gaining high amount of attention from marketers due to its cost effective approach and high response rate. It is a cost effective approach because company needs to remit information regarding products or service to confined groups of customers only and hence it will be disseminated again from word of mouth practice (Urban, 2004). Considering this particular scenario, present research will be carried out in order to analyze the precise role of mobile marketing in conducting a viral marketing. With the increase in mobile users in present era, practice of mobile marketing has also increased substantially. Therefore, a descriptive study will be conducted in order to assess the role of mobile marketing in practicing more of viral marketing.
However, to conduct this particular research, "Marks & Spencer" (M&S) is taken into account which is a leading British multinational chain of retail stores. It offers variety of products within the head of home products, clothing and luxury food products. Company practices mobile marketing in order to deliver information about the schemes and offers that are presently available in the stores. Based on it, foot fall of the M&S stores gets increased and hence leads to boosting of sales. In addition to it, this particular marketing activity supports in communicating information in personal which also aids in attaining objectives that has been set against it. Hence, present research will be carried out in order to analyze the role of mobile marketing within the conduct of viral marketing in retail sector. With this study, different aspects of mobile marketing along with viral marketing will be discussed in order to gain effectual results from it. Also, challenges in practicing mobile marketing will be assessed through this.
Since, present research is inclined towards assessing the actual role of mobile marketing in the viral marketing. This research is conducted because this particular topic is very less explored by researchers and by conducting this, new insight will be attained from the subject matter. Based on it, company of different sector will be able to frame sound strategies within the context of mobile and viral marketing. From this, organization will be able to reach large set of audiences from which its ultimate business objectives will be attained. In addition to it, this particular research will also assess challenges in practicing mobile marketing based on it, appropriate strategies can be developed in this context.
Through this, company will be able to attract more of customers in a cost effective manner. Also, it will able to reach towards large set of audiences from which it can attain competitive edge. Hence, this study will portray different concepts and approaches related to mobile marketing, based on which different business, irrespective of its nature, will able to gain fruitful results. Also, it will support in boosting the sales in relatively low time frame. Contrary, M&S is taken into account because it practices mobile marketing at large scale in order to disseminate information related to new products, offers, discounts and other related activity. By collecting data from this company, effectual results will be attained from which each of research objectives will be achieved in an effectual manner. Further, it will brief precisely about the subject matter from which chances of deviation from research aim will gets low. Considering all these factors, present research will be carried and it will offer numerous benefits to varied research participants.
Aim: This particular study will be carried with a prime aim of analyzing the actual role of mobile marketing in conducting a viral marketing campaign in the retail sector. In order to conduct this study in an appropriate manner, Mark & Spencer is taken into account. With the help of it, research aim will be attained in a desired manner. However, there has been several research questions developed in order to ensure that above cited aim can be attained in a desired manner. These are as follows:
Q 1.What are the concepts and approaches of mobile marketing and viral marketing?
Q 2.How mobile marketing aids in conducting sound viral marketing in retail sector of the UK?
Q 3.What are the barriers that been faced by Mark & Spencer while practicing mobile marketing?
Q 4.How effectiveness of mobile marketing can be boosted through mobile marketing tactics?
In order to better answer the research questions, following objectives are determined for the same. These will aid in achieving research aim. These are as follows:
This particular section is developed in order to conduct critical review of the past literature so that effectual results can be attained through it. Under this, different sources related to subject matter are accessed so that basic information about the same can be attained. This eventually aids in leading towards research aim in a desired manner. In present section, literature related to mobile and viral marketing is reviewed in order to develop a sound base for this research.
Meaning of Mobile Marketing and Viral Marketing
Jenkins, (2006) has defined mobile marketing as a practice that involves sending promotional information regarding products, services or any other attributes over the mobile phone of varied audiences. It is evident that there is a substantial rise in the mobile users in present era from which practice of mobile marketing has also increased substantially. With the help of it, company is able to conduct personal communication with that of its customers. It helps in offering information regarding prevailing offers and scheme in real time through which effectual results can be attained. With this approach, company is able to attract more of customers that certainly supports in boosting the sales and profitability (Tsang and et.al., 2004). In this regard, Srivastava, (2005) stated that mobile marketing possess high response rate as it communicates directly to customers through its mobile phones. Another factor that boosts the significance of mobile marketing is that it communicates the message to customers within its comfort zone. Through this, customers get attracted towards information and hence enhance the effectiveness of mobile marketing. Additionally, mobile marketing offers highly tailored information which influences customers to get in-depth information of the same which certainly develops foot falls.
On the other hand, Gupta (2012) viral marketing is a practice that aids in promotion of products and services by relying majorly on customers in order to market any idea, services or products by customer itself as they share information among peer groups through word of mouth. It is a contemporary practice that is gaining high amount of attention from marketers due to its cost effective approach and high response rate. It is a cost effective approach because company needs to remit information regarding products or service to confined groups of customers only and hence it will be disseminated again from word of mouth practice (Haig, 2002). With the help of it, company is able to reach to its potential customers through word of mouth marketing conducted by its existing customers.
In the viewpoint of Krum, (2010), there is strong relationship between mobile marketing and viral marketing. Since, mobile marketing offers tailored and necessary information to existing or potential customers, through it, curiosity and excitement develops in the behavior of customers. With this, they search for extra information either by contacting directly to company or by making contact with individual buyer that are present in their surroundings. With the help of this,, information through mobile marketing gets spread and hence becomes viral. Another relationship is demonstrated by Putte and Bas, (2009) who stated that mobile marketing offers information directly to existing customers that shares the same with the individuals and possess same interest and beliefs. This is the situation due to cultural factors from which information gets remitted from receiver of message to other individuals. It gets multiplied and hence leads to viral marketing. With this, company is able to attract more of customers on its side and hence leads to attainment of business objectives in an effectual manner. In addition to it, mobile marketing involves sending message (SMS) on the mobile phone of customers. This possesses an option of forwarding this message further among their known one. With the help of it, promotion of goods and services is done from which practice of viral marketing is being performed (Tsang and et.al., 2004).
Mobile marketing is one of the contemporary promotional practices that support company in reaching to large set of audiences all at once. However, there are various limitations and barriers to this practice that hampers the marketing campaign of firms. First of all, company needs to receive personal information of people so that they can actually send messages on their mobile phone. It is a challenging task because in this, it is required to send messages to target customers only (Srivastava, 2005). For this, company needs to apply various filters in order to identify the details of target customers. It is a time consuming task and hence affects marketing outcome. Moreover, Urban, (2004) stated that company is able to gain customer information at the time when they its products. Therefore, they can only send message over mobile phone to existing buyers. Thus,, collecting information regarding potential customers is another barrier for mobile marketing. Moreover, attitude of them towards company or brand also act as a obstacle because if individual possesses unfavorable attitude towards company then it certainly leads to poor response from the practice of mobile marketing (Gupta, 2012). Hence, these are certain barriers and limitations of mobile marketing which needs to be managed in order to ensure that effectual results can be attained through it.
Research methodology briefs about the tools and techniques that needs to be implemented in a study so that appropriate results can be attained through it. With the help of it, researcher is able to hold on research outcomes and hence can draw desirable results (Friese, 2012). Under this head, discussion over research approach, philosophy and design is conducted so that path to attain end results gets developed.
Approach can be defined as a research tool that guides researcher about the way or manner in which a particular research will be conducted. Through this, investigator gets idea about tools and techniques that needs to be employed at particular time frame. Based on the approach, research leads to its end results. There are two research approaches i.e. inductive and deductive (Flick, 2009). In present research, inductive approach will be employed so that specific data that is collected from M&S will be evaluated in order to develop theory which can be applied to whole retail sector (Crowther and Lancaster, 2012). Under this, data will be collected with the help of marketing managers and existing customers of M&S. It will be evaluated quantitatively in order to frame theory from it. Hence, inductive research approach will aid in attaining effectual results (Goddard and Melville, 2004).
Research philosophy acts as value and beliefs of the researcher towards the study conducted by him\her. With the help of it, result is applied in different context and scenario. In short, philosophy reflects the mind set of researcher with respect to research hence based upon it, he\she took decision of selecting appropriate research tools and techniques. In this context, there are different types of philosophy namely positivism, pragmatism, realism and interpretivism (Creswell, 2013). However, by considering the nature of present research, interpretivism philosophy will be used in which data that is collected from research participants will be evaluated and manipulated by researcher on the basis of literature review or own insight. By conducting it, researcher is able to identify and moreover define the reason behind performing any kind of activities. With the help of it, effectual results get attained and it also supports in meeting with the research objectives (Collis and Hussey 2014). Moreover, this particular research philosophy will also support in gaining answer to each research question that has been framed earlier.
Research design acts as a blueprint of the study that guides about the tools that need to be employed while conducting research. In this context, there are different research designs that can be considered by the scholar (Collis and Hussey, 2009). It includes exploratory, descriptive, case study based, causal, experimental and other related research designs. Considering this, present investigation will engage descriptive study in order to describe the role of mobile marketing in detail within the context of viral marketing. With the help of it, researcher is able to discuss in depth information through which each set of research objectives will be achieved and hence leads to attainment of business objectives in an effectual manner (Cooper and Schindler, 2011). This will help in identifying new factors that supports in conducting mobile marketing.
In this regard, there are two modes from which data can be collected, namely primary and secondary source. In present study, data will be covered from both the sources so that each research objectives can be attained in an effectual manner (Bernard, 2011). Under primary data, questionnaire method is used in order to collect data from the marketing managers and existing customers of Marks and Spencer, UK. For this purpose, two set of questionnaire will be developed, both involving structured questions of open and close ended nature, in order to collect data from two sources and hence it will aid in attaining better results from it. This will assists in gaining effectual results from which sound conclusion will be drawn (Axinn and Pearce, 2006). On the other hand, secondary data will be collected with the help of books, journals, magazines, online articles, blogs, etc.
There are two techniques available for sampling i.e. probabilistic and non-probabilistic (Crowther and Lancaster, 2012). In present research, marketing managers will be selected by employing non-probabilistic sampling in which purposive sampling will be employed. Sample size for marketing managers is determined as 5 respondents. In addition to it, customers will be selected through probabilistic sampling in which systematic sampling will be engaged. Under this, every 15th customer will be selected for survey that visiting to stores of M&S, Oxford Street, London. From this, total of 50 customers will be selected so that handful amount of data will be collected (Daniel and Sam, 2011). This will aid in framing sound conclusion.
Besides collecting data from respondents, it is required to analyze the same so that results can be attained through it. In this context, there are two methods from which data can be analyzed. This includes qualitative and quantitative measures. In present research, quantitative measures will be employed in order to attain systematic results from it (Gobo, 2004). Under this, SPSS will be used in order to analyze the data that has been collected from varied responses. With the help of it, researcher will be able to develop effectual results from it.
Based on this research, several other investigations can be conducted such as role of viral marketing in boosting the company profitability. Moreover, a comparative study can be conducted based on this topic in which mobile marketing will be compared with that of social media marketing so that effectiveness of each can be evaluated. Based on it, company will be able to develop sound strategies related to marketing practices.
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