1.1 Introduction to the chapter
In this section, the researcher discusses the research background, problem, aim, objectives, questions and significance of the study.
1.2 Research background
The particular technical revolution during the last decade has drastically revolutionized the traditional connected intelligence approaches and brought marketers to a new era. In the new connected intelligence era, the social network has likely to revolutionize the relationships marketers have with retailers, channels of distribution, their ultimate individuals, etc. It is an Information Age, and individuals are inundated with overwhelming quantities of information each and every day.
Based on the findings from McKinsey (2011), it has revealed that when companies go about their business and interact with individuals, they are generating a tremendous amount of digital “exhaust data,” i.e., data that are created as a by-product of other activities. Social network sites, smartphones, and other individual devices have allowed billions of individuals around the world to contribute to the amount of big data available. (McKinsey 2011.)
By looking at the enormous amount of social network campaigns, e-commerce websites, sales emails, forums, etc., it appears that companies of all sizes have been translating their connected intelligence approaches to the Internet because of its accessibility to their target audience and the money required to do so. (Chui and Manyika 2012.) By contrast, the traditional advertising approach of mass network communication, for instance newspaper, magazines, and televisions, aims at
7
conveying messages to a broader group of audience in the hope of reaching the few interested ones.
Traditional advertising via mass network is on decline; Sergio Zyman (1999), former Chief Connected intelligence Officer, Coca Cola, believes, “The era of connected intelligence as we have known it is over, dead, kaput – and most marketers don’t realize it…” he further clarifies that technology has given people many more options than they had in the past and has created a individual democracy in which people around the world constantly use social-network platforms to seek and share information from discussing individual products to organizing political movements (see Chui and Manyika 2012).
With more stimuli bombardments, individuals are more cautious and adept in allocating attention to information; thus it is essential for marketers to find the reasons that speak to particular individuals’ concerns, and to seek ways to speak to individuals individually, or in smaller communities (Zyman 1999). Internet offers favorable solutions to marketers these days. Connected intelligence through social network would be an alternative perspective of interfacing with individuals, and yet the most influential applications of social technologies in the global economy are largely untapped (Chui and Manyika 2012).
Social network puts individuals back to the center of the business world and provides marketers a new set of tools to interact with individuals and to integrate them into the brands through innovative ways. In essence, marketers have to understand how the social network has influenced individual buying behavior.
1.3 Research problem/rationale
Individuals and businesses around the globe have been more connected than ever before with the presence of Internet. An average Internet user has 669 social ties (Hampton et al. 2011); Facebook has more than 600 million daily active users, with over 1.5 million business pages (Facebook 2013), and 30 billion pieces of content shared on a monthly basis (McKinsey 2011).
Approximately 500 million Tweets sent per day, at about 600 Tweets per second (Tweeter 2012). LinkedIn has more than 225 million professionals worldwide, including all Fortune 500 companies (LinkedIn 2013). The global average time spent per person on social networking sites is 6.9 hours per month (Delaney and Salminen 2012). Changes in individual behavior due to social network are one of the most intriguing aspects in the contemporary connected intelligence.
Acknowledging that individual behavior is a relatively general and broad topic, which it would be challenging for the researcher to gather, inspect and conclude all the necessary data and findings into one research; thus, the researcher has narrowed down the focus in association with the decision making process, which associates with connected intelligence through social network. The objective of the research is to explain why, when, and how social network has impacted on individual decision making process. Besides, perhaps, with this particular perspective the research holds, it can help to identity what are the opportunities and pitfalls companies are facing with this impact on individuals’ decision making in order to seize and embrace the possibilities in the new connected intelligence era.
1.4 Research aim
The prime aim of this research is to explain why, when, and how social network has impacted on individual decision making process. Besides, perhaps, with this particular perspective the research holds, it can help to identity what are the opportunities and pitfalls companies are facing with this impact on individuals’ decision making in order to seize and embrace the possibilities in the new connected intelligence era.
1.5 Research objectives
To evaluate How do individuals attend, process, and select the information based on social network
To review differences between connected intelligence on social network and individual decision making?
To evaluate changes social network has brought to individuals in different stages of their decision making
1.6 Research questions
How do individuals attend, process, and select the information based on social network?
What are the differences between connected intelligence on social network and individual decision making?
What are changes the social network has brought to individuals in different stages of their decision making?
1.7 Scope and limitation of the research
With regard to the objectives, conducting the research from the perspective of individuals would be a considerably suitable approach. The researcher realizes that there are many available reports and studies which rather aims to help businesses to gain a better understanding in social network connected intelligence but not to help individuals to identify reasons that social network has changed their decision making process. Since the purpose of connected intelligence is, in sum, about individual; therefore, by having the starting point from the perception of individual, and by collecting data from individuals’ point of view, fresh insights can be gathered.
The research also aims to serve as an indicator to potential readers (companies) of how they can tap into the decision making process via social network sites.
Factors, such as technology, infrastructure, culturual values, norms, and so fourth, across continentals are different, the implication of this research may vary in countries accordingly; therefore, the research targets at a geographical area, Finland, where individuals share a similar background winthin a standardized infrastructure. The research focuses on the behavior of end individuals (individuals) and particularly within the retailing industry, for instance clothing, food and beverage, individual electronics, and so on.
Moreover, in order to provide a more comprehensive perspective concerning the decision making process, the researcher has discussed the five-stages buying model and the information processing theory, because the former theory explains the stages in decision making process clearly whereas the latter one denotes the psychological factors during the process- they are closely linked with one another based on their objectives.
Social network connected intelligence is no longer a new aspect, and yet it is still considerably a developing and evolving topic in the field. With a quick literature scan on the related topic, indeed there are vast amount of journals and articles, but with few scientific/academic research and classical literatures about social network connected intelligence associating with changes of individual behavior. Thus, this would be another limitation of the research that the discussion on the topic is rather in a general manner.
Research Structure
The first chapter introduces and highlights the research background, the motivation of the researcher, as well as the research questions. In order to answer all three questions, literature reivew is covered by three chapters – individuals, social network, as well as individuals and social network.
Decision making process is discussed elaborately so as to provide the components involved in the process before an actual purchase taken place, and how individuals can be affected during the course of the information processing before a purchase. With the purpose of identifying what are the core values that social network has offered to both marketers and individuals, as well as how marketers are utilizing social network in connected intelligence, clarifications in terms of social network, types of social network sites, as well as discussions in relating to social network connected intelligence are covered in Chapter 3. In the last chapter of the theoretical framework, the relation between social network and individual decision making process is discussed.
As for the empirical part, reasons of selected approach and the data collection process are explained in details in order to provide the reliability and validity of the research. Findings form the collected data are analyzed in associating with the discussed theories in the theoretical framework in Chapter 5. Last but not least, conclusions are drawn for the research questions, and suggestions are made for any further research in future.
2. LITERATURE REVIEW
2.1 Introduction to the chapter
This section deals with the analysis and synthesis of existing studies available on the research topic. Therefore, this section reviews existing studies available on social network, individual decision making process and connected intelligence and its role in individual behaviour.
2.2. What is social Network
There are still many ongoing debates and discussions regarding social network’s universal definition; as social network has been transforming and merging into the evolving development of New Network (Solis 2010). Regardless of what the standardized definition per se would be, many of the existing studies and articles have stated out the common core purpose of social network.
24
According to figure 3, Dann and Dann (2011) have demonstrated how social network is formed based upon the interconnected elements – social interaction, content, and communication network. Social network has created a new landscape in supporting the socialization of information (Solis 2007), as a result it has facilitated and enhanced communication flow by making it easier and to more people, and to spread useful information with potentially vast online audiences (Smith and Zook 2011, 10), in which the conversation may be taken place on network locally but lead to a global impact.
In this section, the researcher discusses the research background, problem, aim, objectives, questions and significance of the study.
1.2 Research background
The particular technical revolution during the last decade has drastically revolutionized the traditional connected intelligence approaches and brought marketers to a new era. In the new connected intelligence era, the social network has likely to revolutionize the relationships marketers have with retailers, channels of distribution, their ultimate individuals, etc. It is an Information Age, and individuals are inundated with overwhelming quantities of information each and every day.
Based on the findings from McKinsey (2011), it has revealed that when companies go about their business and interact with individuals, they are generating a tremendous amount of digital “exhaust data,” i.e., data that are created as a by-product of other activities. Social network sites, smartphones, and other individual devices have allowed billions of individuals around the world to contribute to the amount of big data available. (McKinsey 2011.)
By looking at the enormous amount of social network campaigns, e-commerce websites, sales emails, forums, etc., it appears that companies of all sizes have been translating their connected intelligence approaches to the Internet because of its accessibility to their target audience and the money required to do so. (Chui and Manyika 2012.) By contrast, the traditional advertising approach of mass network communication, for instance newspaper, magazines, and televisions, aims at
7
conveying messages to a broader group of audience in the hope of reaching the few interested ones.
Traditional advertising via mass network is on decline; Sergio Zyman (1999), former Chief Connected intelligence Officer, Coca Cola, believes, “The era of connected intelligence as we have known it is over, dead, kaput – and most marketers don’t realize it…” he further clarifies that technology has given people many more options than they had in the past and has created a individual democracy in which people around the world constantly use social-network platforms to seek and share information from discussing individual products to organizing political movements (see Chui and Manyika 2012).
With more stimuli bombardments, individuals are more cautious and adept in allocating attention to information; thus it is essential for marketers to find the reasons that speak to particular individuals’ concerns, and to seek ways to speak to individuals individually, or in smaller communities (Zyman 1999). Internet offers favorable solutions to marketers these days. Connected intelligence through social network would be an alternative perspective of interfacing with individuals, and yet the most influential applications of social technologies in the global economy are largely untapped (Chui and Manyika 2012).
Social network puts individuals back to the center of the business world and provides marketers a new set of tools to interact with individuals and to integrate them into the brands through innovative ways. In essence, marketers have to understand how the social network has influenced individual buying behavior.
1.3 Research problem/rationale
Individuals and businesses around the globe have been more connected than ever before with the presence of Internet. An average Internet user has 669 social ties (Hampton et al. 2011); Facebook has more than 600 million daily active users, with over 1.5 million business pages (Facebook 2013), and 30 billion pieces of content shared on a monthly basis (McKinsey 2011).
Approximately 500 million Tweets sent per day, at about 600 Tweets per second (Tweeter 2012). LinkedIn has more than 225 million professionals worldwide, including all Fortune 500 companies (LinkedIn 2013). The global average time spent per person on social networking sites is 6.9 hours per month (Delaney and Salminen 2012). Changes in individual behavior due to social network are one of the most intriguing aspects in the contemporary connected intelligence.
Acknowledging that individual behavior is a relatively general and broad topic, which it would be challenging for the researcher to gather, inspect and conclude all the necessary data and findings into one research; thus, the researcher has narrowed down the focus in association with the decision making process, which associates with connected intelligence through social network. The objective of the research is to explain why, when, and how social network has impacted on individual decision making process. Besides, perhaps, with this particular perspective the research holds, it can help to identity what are the opportunities and pitfalls companies are facing with this impact on individuals’ decision making in order to seize and embrace the possibilities in the new connected intelligence era.
1.4 Research aim
The prime aim of this research is to explain why, when, and how social network has impacted on individual decision making process. Besides, perhaps, with this particular perspective the research holds, it can help to identity what are the opportunities and pitfalls companies are facing with this impact on individuals’ decision making in order to seize and embrace the possibilities in the new connected intelligence era.
1.5 Research objectives
To evaluate How do individuals attend, process, and select the information based on social network
To review differences between connected intelligence on social network and individual decision making?
To evaluate changes social network has brought to individuals in different stages of their decision making
1.6 Research questions
How do individuals attend, process, and select the information based on social network?
What are the differences between connected intelligence on social network and individual decision making?
What are changes the social network has brought to individuals in different stages of their decision making?
1.7 Scope and limitation of the research
With regard to the objectives, conducting the research from the perspective of individuals would be a considerably suitable approach. The researcher realizes that there are many available reports and studies which rather aims to help businesses to gain a better understanding in social network connected intelligence but not to help individuals to identify reasons that social network has changed their decision making process. Since the purpose of connected intelligence is, in sum, about individual; therefore, by having the starting point from the perception of individual, and by collecting data from individuals’ point of view, fresh insights can be gathered.
The research also aims to serve as an indicator to potential readers (companies) of how they can tap into the decision making process via social network sites.
Factors, such as technology, infrastructure, culturual values, norms, and so fourth, across continentals are different, the implication of this research may vary in countries accordingly; therefore, the research targets at a geographical area, Finland, where individuals share a similar background winthin a standardized infrastructure. The research focuses on the behavior of end individuals (individuals) and particularly within the retailing industry, for instance clothing, food and beverage, individual electronics, and so on.
Moreover, in order to provide a more comprehensive perspective concerning the decision making process, the researcher has discussed the five-stages buying model and the information processing theory, because the former theory explains the stages in decision making process clearly whereas the latter one denotes the psychological factors during the process- they are closely linked with one another based on their objectives.
Social network connected intelligence is no longer a new aspect, and yet it is still considerably a developing and evolving topic in the field. With a quick literature scan on the related topic, indeed there are vast amount of journals and articles, but with few scientific/academic research and classical literatures about social network connected intelligence associating with changes of individual behavior. Thus, this would be another limitation of the research that the discussion on the topic is rather in a general manner.
Research Structure
The first chapter introduces and highlights the research background, the motivation of the researcher, as well as the research questions. In order to answer all three questions, literature reivew is covered by three chapters – individuals, social network, as well as individuals and social network.
Decision making process is discussed elaborately so as to provide the components involved in the process before an actual purchase taken place, and how individuals can be affected during the course of the information processing before a purchase. With the purpose of identifying what are the core values that social network has offered to both marketers and individuals, as well as how marketers are utilizing social network in connected intelligence, clarifications in terms of social network, types of social network sites, as well as discussions in relating to social network connected intelligence are covered in Chapter 3. In the last chapter of the theoretical framework, the relation between social network and individual decision making process is discussed.
As for the empirical part, reasons of selected approach and the data collection process are explained in details in order to provide the reliability and validity of the research. Findings form the collected data are analyzed in associating with the discussed theories in the theoretical framework in Chapter 5. Last but not least, conclusions are drawn for the research questions, and suggestions are made for any further research in future.
2. LITERATURE REVIEW
2.1 Introduction to the chapter
This section deals with the analysis and synthesis of existing studies available on the research topic. Therefore, this section reviews existing studies available on social network, individual decision making process and connected intelligence and its role in individual behaviour.
2.2. What is social Network
There are still many ongoing debates and discussions regarding social network’s universal definition; as social network has been transforming and merging into the evolving development of New Network (Solis 2010). Regardless of what the standardized definition per se would be, many of the existing studies and articles have stated out the common core purpose of social network.
24
According to figure 3, Dann and Dann (2011) have demonstrated how social network is formed based upon the interconnected elements – social interaction, content, and communication network. Social network has created a new landscape in supporting the socialization of information (Solis 2007), as a result it has facilitated and enhanced communication flow by making it easier and to more people, and to spread useful information with potentially vast online audiences (Smith and Zook 2011, 10), in which the conversation may be taken place on network locally but lead to a global impact.
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