The Role of Social Media in influencing Millennials' Consumer Behaviour: A study on consumers’ perception and the purchase decision process.
Torsello, Melanie (2018)
Kuvaus
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Tiivistelmä
Millennials are the largest living generation, a group of consumers with high purchasing power and a really close relationship with digital technologies. The internet widespread and the creation of Web 2.0 have changed the way these customers engage with brands, leading to a variation of their consumer behaviour. Millennials do indeed benefit from a situation of information overabundance, in which they can search for data about every type of product they are interested in purchasing. Much of this information is often gathered through social networks, i.e. digital platforms where users communicate with their acquaintances, follow influential and famous personalities, and engage with brands.
This master thesis investigates the influence that social media can have on the Millennial consumer behaviour, focusing on the aspect of perception and on the purchase decision process. Consumption is indeed driven by many personal, commercial and socio-cultural factors, and the latter are especially important nowadays due to the virtual proximity of web users.
The empirical research was based on the analysis of a quantitative survey strategy and following face-to-face interviews with Millennials. Results highlighted the influence that social media can have on consumers, especially through the usage of influencer marketing. Most Millennials seem to like these personalities and trust their opinion more than commercials which use celebrity endorsement. But a minority of Millennials is strongly against influencers and reacts to their advertisements in the complete opposite way. Therefore, companies need first and foremost to directly communicate with consumers and build a positive brand image. They should subsequentially analyse their targets and use data mining technologies to personalise and customise advertisements in order to reach consumers’ attention through an effective social media strategy.
This master thesis investigates the influence that social media can have on the Millennial consumer behaviour, focusing on the aspect of perception and on the purchase decision process. Consumption is indeed driven by many personal, commercial and socio-cultural factors, and the latter are especially important nowadays due to the virtual proximity of web users.
The empirical research was based on the analysis of a quantitative survey strategy and following face-to-face interviews with Millennials. Results highlighted the influence that social media can have on consumers, especially through the usage of influencer marketing. Most Millennials seem to like these personalities and trust their opinion more than commercials which use celebrity endorsement. But a minority of Millennials is strongly against influencers and reacts to their advertisements in the complete opposite way. Therefore, companies need first and foremost to directly communicate with consumers and build a positive brand image. They should subsequentially analyse their targets and use data mining technologies to personalise and customise advertisements in order to reach consumers’ attention through an effective social media strategy.