Small Business Innovation Research Program

Discuss about the Small Business Innovation Research Program.

Introduction

Social media advertising has become a popular platform for advertising products and increasing the sales of the products. Social media networks like Facebook, twitter, instagram and whatsup has led to a major boost in product sales. Most small and medium sized companies are using this platform to advertise and to increase their bottom line (An assessment of the Small Business Innovation Research program, 2004). The research problem in this study is focused on effects of advertising on sales. Moreover, there are various research questions that arise from the research problem. So we try to share the five strategies used by large companies in Social Media successfully, to increase sales and get a return on investment in both qualitative and quantitative terms.
Research question

This is the question aimed at helping to solve the research problem. Our study is on marketing and advertising on social media network sites (Bell, 2010). The research question is ,the importance of advertising and marketing on social media networks on product sales.

Define the research questions for the identified problem or opportunity

Based on the research topic identified, the following questions arise; they include

1. Importance of advertising on social network sites on product sales

2. The percentage level of sales increase after social network advertising

3. Which social network site was preferably used to advertise than others

4. The target market in social media advertising of products.

Identified research opportunity

Social networking strategies are the heart of a marketing plan and depending on each company and each individual case can generate a variety of them, but applying them and become successful is another matter (Close, 2012). There are so many opportunities that have been identified in social media advertising mainly, reduced cost of advertising and marketing, increased penetration of product outlay and the overall goal which is increase in sales of the products.

Many companies have also shunned the normal print and electronic media advertising which is more expensive to focus on social media advertising. Social media advertising, has seen growth in business opportunities resulting in sales increase in various sectors.

Problem statement

The problem statement in this research is to find out the effect of social media advertisement on product sales. The problem statement centered on this research is social media advertisement a tool for effective advertisemen? The existence of a problem, after the awareness of the problem and, finally, the existence of a possible solution is necessary. The research problem lies in the discrepancy between the ideal model and a real model. The research problem in this study is focused on effects of advertising on sales. Moreover, there are various research questions that arise from the research problem.

Variables and hypothesis

Different variables and hypothesis have been proposed in this research. The variables include the type of social media network that sales are likely to go to. Facebook is the leader in terms of preferred advertising platform, closely followed by instagram and twitter at a distant third in preferred advertisement sites (Dinsmore and Cabanis-Brewin, 2011). The hypothesis is by changing the nature of advertising to social media advertisement, is there a change in sales volumes of a product. The discrepancy between the ideal and the real model must be meaningful and making aware of this discrepancy (given the existence of the ideal model) is required.
The third component is, as the solution said. The work is aimed at solving the problem.

Hypothetically, the business research aims at looking and conducting a research on what social media network like facebook aims at looking for in growth of business sales.

Operational design and methodology

The methods used in this research were both scientific as well as observational.

Empirical Methods of Scientific Research
The methods of empirical research takes a number of practical procedures for the purpose and means of research that can reveal fundamental features and essential object relations; they are accessible to sensory contemplation.
Empirical research methods represent a level in the research process whose content comes mainly from the experience, which is subject to certain rational development and expressed in a particular language.

Method of scientific observation

By observing the information of each of the concepts or variables defined in the working assumption in the model is collected. When this is accomplished we say that there is validity in observation. Facebook and twitter online users were observed while an advertising was undertaken. Systematic observation requires adequate controls to ensure greater objectivity, performing observation repeatedly and by different observers, including to ensure uniformity of the results of this.

Participant observation: in it the observer is part of the observed group and participates in it for the duration of observation (Dinsmore and Cabanis-Brewin, 2011). Non-participant observation: the researcher conducts observation from outside, not part of the group investigated.

The experimental method

The experiment is the activity performed by the researcher where: The experiment is always inextricably linked to the theory. In theory the problem is formulated as essentially a theoretical problem, a problem which concerns the idealized object of theory and experience that to check in a dialectic plane ,the theoretical concepts belonging to the theory. The research experimental method lies in the discrepancy between the ideal model and a real model. The research problem in this study is focused on effects of advertising on sales

Research Design

The overall strategy in this research is to find the impact of social media advertisements on sales.  The research design will be focused on the methodology for conducting the study and the phenomena of the study. The major constraint in the research design methodology is the number of people on social media networks intended to be interviewed for the study (Mandiberg, 2012). The amount of money resources to be used in the study is also another constraint in the research. Additionally, the amount of time to be used in this research is also another constraint.

Instrumentation/ Sampling

The data needed for the research will be found from questionnaires and observational sampling. Questionnaires are the most effective form of data collection in this research. The youths who are mostly using the questionnaires are the target group. Sample group of respondents will be determined by the need for the particular cluster of people who use the products. The level of confidence that can be agreed is 95%.

In theory the problem is formulated as essentially a theoretical problem, a problem which concerns the idealized object of theory and experience that to check in a dialectic plane ,the theoretical concepts belonging to the theory. Observations are as important as interviews in collection of research data. Interviews are trustworthy and aims at making the research data more relevant and inclusive to all participative groups. The methodology used will depend on the required data to be collected. Qualitative and quantitative data will also be required in interpretation of the research data. However, quantitative data is more comprehensive since it will statistically and mathematically determine the level of sales growth in the company.

Conclusion, Recommendation and Interpretation

With the data provided in the research, advertising on social media has improved sales on products. The reason for this is because social media product exposure has led to more products being noticed by customers or potential clientele. Facebook, twitter and Instagram are trend setters in product advertisement (Tuten and Solomon, 2013).  The recommended solution in this research is that most people will try to advertise their products in these platforms. The more the penetration of the products online, the more the sales increase. Interpretation of this research results is that advertising on social media increases the sales of products. The idea in this research is to influence small companiesthat as well as large companies do in social advertisement, you also have a small business you can take advantage of them and apply them for your business. Facebook has the highest traffic of social media users. Therefore, more focus and empasies are geared towards advertising on facebook. It is closely followed by instagram which is another social media platform attracting many young people. Twitter is a distant third behind the two but arguably the most influential among the social media sites.

References

An assessment of the Small Business Innovation Research program. (2004). [Washington, D.C.]: National Academies Press.

Aspray, W. and Ceruzzi, P. (2008). The Internet and American business. Cambridge, Mass.: MIT Press.

Bell, J. (2010). Doing your research project. Maidenhead: McGraw-Hill Open University Press.

Close, A. (2012). Online consumer behavior. New York: Routledge.

Dinsmore, P. and Cabanis-Brewin, J. (2011). The AMA handbook of project management. New York: American Management Association.

Lievrouw, L. and Livingstone, S. (2006). Handbook of new media. London: SAGE.

Mandiberg, M. (2012). The social media reader. New York: New York University Press.

O’Guinn, T., Allen, C. and Semenik, R. (2000). Advertising. Cincinnati: South-Western College Pub.

Tuten, T. and Solomon, M. (2013). Social media marketing. Boston: Pearson.

Welch-Ross, M. and Fasig, L. (2007). Handbook on communicating and disseminating behavioral science. Los Angeles: Sage Publications.

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