FINAL EXAM Research paper on: Impact of Social Media on Consumer Buying Behavior through Online Value Proposition. Course name: Career Planning & Development 2 Course Code: ART 203 Submitted To Nayma Iftakhar Assistant Professor, CBA Submitted By Name: Forhad Ahmed Shohan ID: 21102034 Section: H Program: BBA 1. Introduction Background Information This section focuses on the core topic and dissertation of the research. The current business setting in social media has become an essential component of the marketing process. Today, social networking services are being used more widely in all industries throughout the world. E-commerce enterprises can swiftly reach a large number of Bangladeshi consumers by adopting the Digital platform route (Al Amin et al., 2020). The ECommerce sector of Bangladesh also offers the ability to engage with customers more efficiently and effectively by utilizing new technologies (Al Amin et al., 2020). Most firms now utilize social media to better understand consumer attitudes regarding online shopping (Doherty, et al., 2014). Through this exposure, businesses can easily engage with their customers (Rahman, et al., 2018). This study later defines certain social media platforms' roles by assessing whether they may increase consumer engagement and interest. It is not clear what Digital Bangladesh means as there is no definition in the election manifesto. The nationwide Daily Star-Nielsen Opinion rates of the government's performance over the first 100 days’ report that most respondents (out of 2,520 people) had no clear idea of the meaning of Digital Bangladesh (Islam & Eva, 2018). The survey finds that around twenty percent of the respondents thought it was something related to the computerization of society or modern Bangladesh. The report also states that "female and rural people are more confused about the idea of Digital. Problem Statement A consumer sets the chain in motion when he detects a problem in the current product or determines that he badly needs a replacement. Problem recognition is the first step towards a purchase requirement. In problem recognition, the consumer recognizes a problem or need or want. The buyer recognizes a difference between his or her actual state and some desired state. The need can be generated by internal stimuli when one of the person's normal needs − hunger, thirst, shelter, etc. Research Objectives The Bangladeshi E-Commerce sector also has the opportunity to communicate with consumers more efficiently using advanced technology in an effective way. This report signifies that social media platforms should be able to set the stage for consumers to access better information about products and services, making it easy for them to connect with the business through integrated digital platforms. The research will focus on the following key areas: 1. To evaluate how successful social media are used as a means of drawing customers' attention to the business. 2. To determine the effectiveness of modern e-commerce approaches for attracting customers in Bangladesh. 3. To analyze the direction in which the e-commerce sector in Bangladesh will achieve an effective social media strategy for increasing market sales. 4. To discuss how E-commerce firms in Bangladesh can utilize social media tactics productively. These research objectives aim to investigate the relationship between social media, online value proposition, and consumer buying behavior. By addressing these objectives, the study can provide insights and recommendations for businesses to effectively leverage social media and optimize their online value proposition to drive consumer engagement and increase purchase intentions. 2. Literature Review The proliferation of social media platforms has significantly transformed consumer behavior and reshaped the marketing landscape. This literature review aims to examine the impact of social media on consumer buying behavior, specifically focusing on the role of online value proposition. The study provides a comprehensive overview of key theoretical frameworks, research findings, and emerging trends in the field (Al Amin et al., 2020). By exploring the existing literature, this review highlights the ways in which social media platforms influence consumer decision-making processes and shape their perceptions of value when making online purchases (Islam & Eva, 2018). This literature review explores the influence of social media on consumer buying behavior by focusing on the role of online value proposition. As social media platforms continue to gain prominence in the digital age, understanding their impact on consumer behavior has become crucial for businesses (Doherty, et al., 2014). The review synthesizes and analyzes existing research to identify the key factors and mechanisms through which social media and online value proposition affect consumer purchasing decisions. The findings of this review provide valuable insights for marketers and researchers aiming to leverage social media to enhance their online value proposition and effectively engage with consumers (Islam & Eva, 2018). This literature review provides a comprehensive overview of the impact of social media on consumer buying behavior through the lens of online value proposition. By examining the existing research, it contributes to a deeper understanding of the dynamic relationship between social media, online value proposition, and consumer behavior. The findings can serve as a foundation for future studies and help marketers develop effective strategies to harness the power of social media in influencing consumer decision-making processes. Social networking channels are the newest addition to the broader marketing process in the course of operation with various organization. Thus, the literature review portion of this study will address the critical aspects and character traits of social media, which are essential to attract customers towards the company's product and services. The social media marketing is relatively a new concept of marketing which integrates the usage of ICT to perform the marketing, advertising, promotional functions of goods and services as a virtual company However, in the majority of cases, the digital marketing mix is identical to companies' existing marketing mix. Through all marketing mix features, businesses may advertise further efficiently using the web. Furthermore, the price of the product is another important factor that is greatly influenced by consumers' behavioral patterns and characteristics. Through developing good relationships with consumers, e-commerce firms appreciate their viewpoints on price. By conducting a comprehensive review of the literature, this study aims to provide a comprehensive understanding of the impact of social media on consumer buying behavior through the lens of online value proposition (Al Amin et al., 2020). The findings can assist businesses in formulating effective social media strategies and optimizing their online value proposition to enhance consumer engagement and drive purchasing decisions in the digital marketplace. 2.1 Conceptual Framework 3. Methodology The goal of this research prepare on "Impact of Social Media on Consumer Buying Behavior" is to investigate and analyze the influence of social media on the way consumers make purchasing decisions. The report aims to provide a comprehensive understanding of how social media platforms, such as Facebook, Instagram, Twitter, YouTube, and others, affect consumer behavior in the context of buying products or services. To conduct the research and gather data for this report, a mixed-methods approach will be employed, combining both qualitative and quantitative data collection methods. The research will involve both primary and secondary data sources. 1. Secondary Data Collection: Market Research Reports: Industry-specific market research reports often include data on consumer behavior trends, social media usage, and the influence of social platforms on purchasing decisions. Reports from reputable market research companies like Nielsen, Statista, and Pew Research Center can be valuable sources of secondary data. Social Media Analytics Tools: Some social media analytics tools provide insights into user behavior, engagement, and buying patterns on various social media platforms. Platforms like Sprout Social, Hoot suite, and Buffer may offer data and reports that shed light on the impact of social media on consumer buying behavior. 2. Primary Data Collection: Primary data collection involves gathering new and original information directly from consumers or participants for your research on the impact of social media on consumer buying behavior. Here are some methods for conducting primary data collection: Surveys: Create a structured questionnaire to gather quantitative data from a large number of respondents. The survey can be distributed online through platforms like Google Forms, Survey Monkey, or social media channels. Interviews: Conduct in-depth interviews with selected consumers to gain qualitative insights into their experiences with social media and how it influences their purchasing decisions. Sampling The impact of social media on consumer buying behavior has been a significant topic of interest for marketers and researchers alike. Social media has revolutionized the way people communicate, connect, and consume information, and it has undoubtedly influenced consumer purchasing decisions. Here are some key points to consider when examining the sampling on the impact of social media on consumer buying behavior: Target Audience: Define the target audience for your study. Social media usage and its impact may vary across different demographics, such as age groups, genders, geographic locations, and interests. Decide on the specific group you want to study to ensure your sampling is relevant and representative. 4. Questionnaire Age: [Open-Ended] Gender: [Male / Female / Other] 1. Which social media platforms do you actively use? [Multiple Choice - Facebook, Instagram, Twitter, LinkedIn, TikTok, Snapchat, Pinterest, Others (Please specify)] 2. How frequently do you access social media platforms in a typical day? [Multiple Choice - Several times a day, Once a day, A few times a week, Rarely, Never] 3. Do you follow any brands or businesses on social media? If yes, which ones? 4. Have you ever made a purchase based on a social media ad or post? [Yes / No] 5. How much time, on average, do you spend on social media per day? [Open-Ended] 6. How influential do you find social media in your purchasing decisions? [Multiple Choice - Extremely influential, Moderately influential, Slightly influential, Not influential at all] 7. What type of content do you find most appealing from brands on social media? [Multiple Choice - Product images, Videos, Customer reviews/testimonials, Promotions/discounts, Educational content, Behind-the-scenes, Influencer endorsements, Others (Please specify)] 8. Have you ever used social media to research a product before making a purchase instore or online? [Yes / No] 9. If yes, which aspects were you researching? 10. How often do you engage with brands on social media (e.g., liking, commenting, sharing)? [Multiple Choice - Frequently, Occasionally, Rarely, Never] 11. Do you trust customer reviews and recommendations on social media when considering a purchase? [Yes / No] 12. Have you ever experienced "buyer's remorse" after making a purchase based on social media content? [Yes / No] 13. If yes, what do you think caused this feeling? [Open-Ended] 14. Do you believe social media ads are targeted effectively to your interests and preferences? [Yes / No] 15. If yes, please explain why. If no, how do you think they could improve? [Open-Ended] 16. Have you ever unfollowed or stopped engaging with a brand on social media due to their content or behavior? [Yes / No] 5. Research Result 6. Discussion By doing the survey, I find out most of the people use Facebook social media platform for actively use. They follow so many brands and businesses on social media. They also purchased product based on social media ads and post. Most of the people influenced by social media as purchasing decision. Mostly products images and also videos content are appealing from brands on social media. Most of the consumers used social media to research a product before making a purchase in store or online. Most of the people occasionally engage with brands also media. Around 84% people trust customer review and Recommendation on social media when considering purchase. Most of the people experienced buyer’s rumors after making purchase based on social media content. Most of the consumer believe social media ads are targeted effectively to their interest and preferences. 7. Recommendation Considering the diversity of social media users, businesses should invest in understanding their target audience's preferences and needs. By tailoring their online value propositions to individual consumers, companies can enhance their appeal and increase the likelihood of driving conversions. It's crucial for businesses to utilize data analytics tools to gather insights into consumer behavior on social media platforms. By analyzing user engagement patterns, sentiment analysis, and purchasing trends, companies can refine their online value propositions and marketing strategies. Businesses should focus on creating interactive and engaging content that resonates with their target audience. Utilizing various media formats such as videos, live streams, polls, and contests can foster deeper connections and encourage consumer participation, leading to a positive impact on buying behavior. Collaborating with influencers who align with the brand's values and products can be a powerful strategy. Recommending the selection of influencers who have a genuine rapport with their followers and can effectively communicate the value proposition can enhance consumer trust and credibility. When leveraging social media, businesses must be sensitive to ethical concerns surrounding privacy, data usage, and authenticity. Respecting user privacy and maintaining transparency in value proposition claims can enhance consumer trust and brand reputation. 8. Conclusion In conclusion, the impact of social media on consumer buying behavior is undeniable. Through its wide reach and interactive nature, social media shapes consumer perceptions, preferences, and decisions. Online value propositions serve as key determinants in this process, acting as bridges between brands and consumers. Marketers must recognize that the convergence of social media and value propositions holds immense potential for fostering brand loyalty and driving business growth. As the digital landscape evolves, businesses that adeptly leverage these elements will undoubtedly stand at the forefront of influencing consumer buying behavior.