Abstract: The study investigated the effectiveness of social media on product promotion. The study was anchored on Technological Determinism Theory (TDT) to give the study the needed footing. A cross-sectional survey research method was adopted and questionnaires were used to elicit responses from respondents within Computer Village, Ikeja. The data were analyzed using descriptive statistics (frequency and percentage) and the data were presented with the aid of tables. The study found that all the respondents (100%) used social media to a high extent with indication that 88/5% of the respondents often use 1-2 social media. Equally, majority of the respondents (40.2%) often use Instagram to market their products and services. Also, a significant number of the respondents (89.6%) admitted that social media are highly effective platforms for advertising products and services. Larger number of the respondents (45.8%) claimed to be posting on social media weekly with a claimed by many of the respondents (49%) that the social media marketing often convert. The study recommended that marketers in Computer Village should carefully choose social media platforms that align with their target audience. Understanding the demographics, preferences, and behaviors of their potential customers will enable them to invest time and resources more effectively on platforms where their audience is most active.
TABLE OF CONTENTS
Title Page i
Certification ii
Dedication iii
Acknowledgement iv
Table of Contents vi
Abstract vii
CHAPTER ONE: INTRODUCTION
- Background to the Study________________________________________1
1.2 Statement of the Problem _______________________________________3
1.3 Objectives of the Study_________________________________________4
1.4 Research Questions____________________________________________4
1.5 Significance of the Study________________________________________5
1.6 Scope of the Study____________________________________________6
1.7 Operational Definition of Terms _________________________________6
References
CHAPTER TWO: LITERATURE REVIEW
2.0 Introduction_________________________________________________8
2.1 Conceptual Review___________________________________________20
2.2 Empirical Studies____________________________________________25
2.3 Theoretical Framework_______________________________________25
References
CHAPTER THREE: RESEARCH METHODOLOGY
3.0 Introduction________________________________________________33
3.1 Research Design____________________________________________33
3.2 Research Method___________________________________________33
3.3 Study Population_____________________________________________34
3.4 Sample Size ________________________________________________34
3.5 Sampling Technique _________________________________________34
3.6 Instrument for Data Collection__________________________________35
3.7 Validity and Reliability of Research Instrument_____________________35
3.8 Data Collection Process________________________________________36
3.9 Method of Data Analysis_______________________________________36
3.10 Ethical Consideration__________________________________________37
References
CHAPTER FOUR: DATA ANALYSIS AND DISCUSSION OF FINDINGS
Introduction _________________________________________________39
4.1 Demographic Variables Analysis of Respondents____________________39
4.2 Analysis of Research Questions Related Variables___________________39
4.2 Discussion of Findings_________________________________________48
CHAPTER FIVE: SUMMARY, CONCLUSION, RECOMMENDATIONS AND LIMITATIONS
Introduction________________________________________________50
5.1 Summary__________________________________________________50
5.2. Conclusions ________________________________________________51
5.3 Recommendations ___________________________________________52
5.4 Limitations to the Study_______________________________________54
References
Appendix
CHAPTER ONE
INTRODUCTION
1.1 Background to the Study
In the digital age, social media has revolutionized the way businesses connect with their target audience. The rise of platforms like Facebook, Twitter, Instagram, and YouTube has provided marketers with new avenues to promote products and services. This research explores the usage of social media for product advertising and marketing among marketers in Computer Village, Ikeja, Lagos. Computer Village is Nigeria’s largest information and communications technology (ICT) market, making it an ideal setting to examine the impact of social media on marketing strategies.
Computer Village, located in Ikeja, Lagos, is renowned as Nigeria’s premier technology market. It is a hub for various technology-related products, including smartphones, computers, accessories, and software. The market attracts thousands of customers and retailers daily, making it a lucrative space for marketers.
Social media platforms provide an extensive user base, enabling marketers to reach a vast audience. According to Akar & Akpan (2011), Nigeria had over 33 million Facebook users and 6.7 million Twitter users as of January 2021. This large user base allows marketers to target specific demographics, interests, and behaviors, ensuring their advertising efforts are directed towards potential customers (Kim & Ko, 2018).
Similarly, compared to traditional advertising methods, social media advertising is often more cost-effective. It offers various pricing models, such as cost-per-click (CPC) or cost-per-impression (CPM), allowing marketers to control their budgets effectively. Additionally, social media platforms provide detailed analytics and reporting tools, enabling marketers to measure the effectiveness of their campaigns (Kim & Ko, 2018).
Although, despite the opportunities that comes with the social media as marketing platforms, with the abundance of information available on social media platforms, it becomes essential for marketers to stand out amidst the noise. Creating compelling content that captures users’ attention and differentiates a brand from competitors can be a significant challenge (Mangold & Faulds, 2019).
Social media platforms frequently update their algorithms and policies, impacting marketers’ strategies. Staying up-to-date with these changes and adjusting marketing tactics accordingly can be time-consuming. By and large, the usage of social media for product advertising and marketing has become an indispensable strategy among marketers in Computer Village, Ikeja, Lagos. Social media platforms offer extensive reach, precise targeting options, and cost-effective advertising solutions.
Successful marketing campaigns by companies like Konga and Slot Systems Limited demonstrate the effectiveness of social media in increasing brand awareness, engaging customers, and driving sales. While challenges such as information overload and adapting to platform changes exist, the benefits outweigh the drawbacks. Marketers in Computer Village must continue to leverage social media’s power to remain competitive in the rapidly evolving digital landscape.
Meanwhile, according to Duffett (2017), there are lots of benefits of social media for brand promotion, some of the benefits are: increased brand visibility and reach, targeted advertising, cost-effective advertising, real-time feedback and customer engagement, influencer partnerships, user-generated content, enhanced customer targeting and segmentation, brand loyalty and advocacy, viral marketing potential, data analytics and insights. To this end, the study investigated the effectiveness of social media for product advertising and marketing among marketers in Computer Village, Ikeja, Lagos.
1.2 Statement of the Problem
There is no doubt that the use of social media in promoting brand patronage is evolving daily as the various traditional medium of creating brand awareness is at its lowest ebb. According to Varian (2013), the use of social media and other digital technology is a superior means of disseminating news and informing, creating and promoting brand awareness. Critics have claimed that the recent upsurge in the use of digital technologies to create brand awareness is most often filled with misleading information, graphics, videos hype about the product or services and cyber fraud.
Similarly, many marketers in Computer Village may lack the necessary knowledge and skills to effectively leverage social media for advertising and marketing purposes because relying on the basics social media knowledge is not enough in this 21st century usage of social media for brand promotion. This knowledge gap can hinder their ability to create compelling content, target the right audience, and measure the success of their campaigns. Again, social media platforms are inundated with an overwhelming amount of content and advertisements. Marketers in Computer Village may struggle to stand out amidst the noise and capture the attention of their target audience. Competing with other businesses within the same industry can further amplify this challenge.
Social media platforms constantly evolve, introducing new features, algorithms, and trends. Marketers in Computer Village may find it challenging to stay updated with these changes and adapt their strategies accordingly as most of them is often busy. Failure to keep up with evolving trends can result in ineffective marketing campaigns and missed opportunities. In a marketplace like Computer Village, where the sale of electronics and technology products is prevalent, establishing trust and credibility is crucial. Marketers may face skepticism from potential customers who question the authenticity and reliability of products advertised on social media platforms. Building and maintaining trust is essential to overcome this challenge.
Equally, although, there are lots of empirical studies o the impact and effectiveness of social media and other digital marketing on brands promotion, however, none focused on Computer Village, Ikeja, Lagos. To this end, the study investigated the effectiveness of social media for product advertising and marketing among marketers in Computer Village, Ikeja, Lagos.
1.3 Objectives of the Study
The primary objective of the study is to investigate the usage of social media for products advertising and marketing among marketers in Computer Village, Ikeja. However, the specific objectives are:
- To examine the extent to which marketers in Computer Village, Ikeja, Lagos utilize social media for products advertising and marketing promotion.
- To understand the current state of social media usage for products advertising and marketing among marketers in Computer Village, Ikeja, Lagos.
- To identify the main opportunity associated with using social media for products advertising and marketing in Computer Village, Ikeja, Lagos.
- To examine the impact and effectiveness of social media advertising and marketing efforts on business growth and customer engagement among marketers in Computer Village.
- To identify the challenges associated with using social media for products advertising and marketing in Computer Village, Ikeja, Lagos.
1.4 Research Questions
In order to explicate the aforementioned objectives, the listed questions provide answers to the research problem:
- To what extent do marketers in Computer Village, Ikeja, Lagos utilize social media for products advertising and marketing promotion?
- What are the most popular social media platforms used by marketers in Computer Village, Ikeja, Lagos for products advertising and marketing?
- What are the main opportunity associated with using social media for products advertising and marketing in Computer Village, Ikeja, Lagos?
- How effective is social media advertising and marketing efforts in business growth and customer engagement among marketers in Computer Village?
- What is the main challenge associated with using social media for products advertising and marketing in Computer Village, Ikeja, Lagos.
1.5 Significance of the Study
The study on the usage of social media for product advertising and marketing among marketers in Computer Village, Ikeja holds several significant implications:
Knowledge Enhancement: By investigating the current level of knowledge and skills among marketers in Computer Village regarding social media marketing, the study can help identify areas for improvement. This will enable marketers to enhance their digital marketing competencies, stay updated with the latest trends, and effectively leverage social media platforms to promote their products.
Business Growth and Competitiveness: Understanding the challenges and barriers faced by marketers in Computer Village when using social media for advertising and marketing can help them overcome these obstacles. By developing targeted strategies and addressing specific concerns, marketers can enhance their competitiveness, reach a broader customer base, and drive business growth in the dynamic and competitive environment of Computer Village.
Resource Optimization: The study can assist marketers in Computer Village in optimizing their resources, particularly budget constraints. By identifying cost-effective and efficient social media advertising and marketing techniques, marketers can make informed decisions on resource allocation, maximizing the impact of their marketing efforts within limited budgets.
Building Trust and Credibility: In Computer Village, where the sale of electronic products is prominent, building trust and credibility is crucial. The study can shed light on strategies and approaches that marketers can adopt to establish trust among potential customers. This includes understanding customer concerns, addressing authenticity issues, and leveraging social media platforms to showcase the quality and reliability of their products.
Local Economic Development: Computer Village is a significant hub for technology-related businesses in Lagos. The study’s findings can contribute to the overall growth and development of the local economy by equipping marketers in Computer Village with the necessary knowledge and skills to harness the potential of social media platforms. This can lead to increased sales, job opportunities, and the expansion of the technology sector in the region.
Contribute to Research: The study’s finding can contribute to the body of knowledge in the field of marketing and digital technology. It can serve as a reference for future research on the topic and provide insights into how small and medium brands can use social media to promote their products and services.
1.6 Scope of the Study
The study which investigates the usage of social media for products advertising and marketing among marketers in Computer Village, Ikeja, Lagos, the study has been narrowed in scope to various sellers at the Computer Village, Ikeja, Lagos. Thus, the geographical scope of this study shall be within Computer Village, Ikeja. The choice of Computer Village, Ikeja is due to its proximity to the researcher, inadequate time to study major marketers in Lagos state. Also, majority of people at Computer Village, Ikeja are Internet oriented compared to many marketers in Lagos such as Alaba International Market and sellers at Ladippo Market.
1.7 Operational Definition of the Terms
Usage: In this research, it refers to how marketers at Computer Village, Ikeja, Lagos utilize social media for products advertising and marketing.
Social Media: In this study, social media refers to online platforms and technologies that enable people to interact with friends, family and customers including the general public. It includes Facebook, Instagram, Twitter, LinkedIn, YouTube, Snapchat, and TikTok, among others.
Products Advertising and Marketing: In this study, products advertising and marketing refers to the strategies and activities used by marketers at Computer Village, Ikeja to promote and sell their products or services to customers.
Marketers in Computer Village, Ikeja: It refers to the various sellers usually ICT devices, gadget and the related phones and computer accessories.