Research Proposal: The Use of Internet Marketing by Olive Ole Fashion Lava Inc.
Question
Research-Based Report to a Decision-Maker
Summary of assignment
• Task: You write a report that does the following:
o defines a problem persuasively and accurately
o proposes a solution or solutions to the problem or issue
o presents that solution to a decision-maker or group of decision-makers who can implement the recommendation
• Topic: You will choose the same topic on which you wrote the memo for writing assignment #3.
• Length: 2000-3000 words
• Format: Your sources will be cited and listed in APA format.
• Writing Process: You will submit a first draft of the report to the assignment folder. The first draft will be given comments by the instructor. After receiving comments from the instructor, you will submit a revised draft. The final draft will be graded.
If you do not submit a second draft, the first draft will be graded.
• Components of the report:
o letter to the decision maker (this can be a business letter OR a memo)
o executive summary
o title page
o table of contents
o introduction
o body of the report to include headings and subheadings
o conclusion stated as a recommendation for implementation of the solution
o References page, with references listed in APA format
o Any appendix (or appendices if there are multiples)
Instructions on how to list an interview in APA format can be seen at the following url: https://apastyle.apa.org/style-grammar-guidelines/citations/quoting-participants
Primary and Secondary Sources
DUE TO THE DANGERS RELATED TO THE CORONAVIRUS PANDEMIC, PRIMARY RESEARCH IS NOT REQUIRED FOR THE RESEARCH REPORT ASSIGNMENT. IF POSSIBLE, STUDENTS CAN CONDUCT INTERVIEWS OR SURVEYS REMOTELY (BY USING A SYSTEM SUCH AS ZOOM) OR VIA EMAIL RELYING ON WRITTEN RESPONSES. HOWEVER, STUDENTS MAY CHOOSE TO USE ALL SECONDARY SOURCES FOR THIS ASSIGNMENT. IF A STUDENT CHOOSES TO MAKE THIS CHOICE, SHE/HE SHOULD FOLLOW THE DIRECTIONS BELOW FOR COMPLETING THE ASSIGNMENT.
The report must incorporate the results of your own primary research. When integrating primary research, you must explain the method(s) you used to gather that research and insert a copy in your report’s appendices of any collection instrument you used. For example, if you interviewed some people for the report, you would put the list of interview questions you asked in the appendix. If you arranged for a group of people to take a survey, you would put the survey in the appendix.
The complete report should also cite at least seven secondary sources. At least three of these secondary sources should come from peer-reviewed, scholarly journals.
Students who cannot conduct primary research for safety or other valid reasons are required to provide TEN secondary sources. Of these FOUR should be from peer-reviewed, scholarly journals.
As noted above, your primary and secondary sources will be integrated into the paper to explain the problem, to provide evidence of the problem, and to support the solution.
Please note that, if you interview people for your research, you must cite the interviews in your paper. In the paper, you cannot simply write that you “spoke with employees.” A URL that shows how to cite an interview in APA citation style is provided in the list of components for the report.
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Solution
Executive Summary
This study addresses the need to understand how companies and institutions like Olive Ole Fashion Inc., with small-sized businesses and a low customer base, can use Internet marketing to increase the performance of their businesses. The purpose of this study is to provide a comprehensive view of how Internet marketing can be used to improve the performance of small-sized businesses (Grubor, and Jakša, 2018). This study will help business owners and individuals interested in using Internet marketing as a strategy for their business. In line with that, this study will focus on identifying the impact of Internet marketing on small-sized businesses, the problems encountered by small-sized businesses in implementing Internet marketing strategies, and strategies that small-sized businesses can use in implementing Internet marketing strategies (Shaltoni, 2017). In gathering information for this study, both secondary and primary research methods will be used. First, we will identify what other authors have said about our topic of interest by conducting a literature review. The authors’ arguments and viewpoints will then be analyzed and discussed to relevance to the topic being studied. Second, data from primary sources such as interviews with participants from various industries will also be collected and analyzed in this study.
Table of Contents
Significance of Internet to the Company
Conclusion and Recommendations
Research Proposal: The Use of Internet Marketing by Olive Ole Fashion Lava Inc.
The business environment has undergone tremendous changes over the last two decades that have necessitated organizations to adopt new approaches in meeting customers' expectations. In particular, technology has transformed business operations in various ways, either by enhancing productivity or increasing customer experience. In light of such developments, organizations must embrace digitalization as a strategy for remaining relevant in today's economy. One such area has faced immense change due to technological advancements in marketing. The project aims to investigate Internet marketing in Olive Ole Fashion Lava Inc. The study will also examine how Internet marketing can be improved and assessed within Olive Ole Fashion Lava Inc. for future growth and success.
Objectives
A set of objectives were formulated to guide the investigation into the research question. The objectives included:
- To assess the use of Internet marketing by Olive Ole Fashion Lava Inc.
- To identify factors that have led to the adoption of Internet marketing in Olive Ole Fashion Lava Inc.
- To find out how extensively the company uses different forms of internet marketing.
- To determine the most effective form of internet marketing for the company.
- To evaluate if internet marketing has increased the sales for the company.
- To make recommendations based on findings from the study
Methods
The study used both quantitative and qualitative research methods. This methodology included a focus group, questionnaires, interviews and an Internet survey. The focus group was used to gain an initial insight into what fashion people would purchase and why. The interviews were conducted as a follow-up to the focus group and spread out across different age groups and cultures to identify similarities and differences in responses from our participants. The interviewees were asked several questions about how their company uses different types of internet marketing and if they have seen the results from each type of marketing practice. The interviews lasted approximately 5 minutes for each employee and were conducted over Skype video chat due to COVID-19 safety precautions. Due to certain time restrictions, only three employees were interviewed. The questionnaires gave us feedback on people’s attitudes towards internet marketing for fashion items. For example, do people prefer to buy their clothes from physical stores or virtual ones? Finally, the Internet survey was conducted to discover whether people are influenced by internet advertising when choosing their fashion products and brands.
Results
The research was conducted to provide the management with information on the latest trends in internet marketing worldwide. The research aimed to analyze various aspects of internet marketing, including e-commerce and search engine optimization (SEO). The research also focused on analyzing how other organizations have been using internet marketing and providing recommendations to enable Olive Ole Fashion Lava Inc. to benefit from internet marketing. Internet marketing has been identified as one of the most powerful tools for business success today. It can be used for various functions, including lead generation, brand awareness, customer acquisition, and sales. It is cheap, effective, and easy to measure. In addition to these benefits, it is also a great way for businesses to reach out to their clients and engage them in a conversation about their products to understand their needs better. “Michael” (40-year-old, personnel manager) agreed that customer relationship management is one of their most commonly used internet marketing strategies because he believes it is important to build relationships with customers to increase sales
A prediction of the impact of introducing the use of the internet to the firm was made, and the following outcomes were formulated:
- The sales of Olive Ole have increased by 20% in the first quarter.
- The demand for the products and services has also increased, thereby increasing the company’s market share in the industry. This has enabled the company to increase its customer base (Soegoto, and Rahmansyah, 2018).
- The number of customers has also increased, thereby increasing the company’s market share in the industry.
- The number of competitors in this business has also increased, thus making it difficult for the company to compete. There is a need for more research on dealing with this issue.
Significance of Internet to the Company
The Internet is a very powerful tool that can be used to increase sales and profits in the following ways:
Quick Service and Convenience
Most internet marketing methods are easy to access and can be accessed by customers 24/7. In other words, a website can be accessed at any time at their convenience without having to wait for business hours (Shams, 2019). The company can also reach out to the customers worldwide through this medium, and hence it provides quick service and convenience to both the customers and the business owner.
Low Operating Costs
Compared to traditional advertising methods, internet marketing is way cheaper and more cost-effective. As the company does not have to hire salesmen, buy print media space or distribute fliers, they can save a lot of money. The only cost incurred here is website hosting and domain name purchasing.
Measure and Track Results
Since internet marketing uses online tools like email, social media platforms, and websites, it is possible to track the statistics easily at any given point in time. This helps Olive ole analyze how effective the strategies are by measuring the success rate of each of them in terms of conversion rates (Obednikovska, Sotiroski, and Mateska, 2019). Consequently, the company can also measure how many people have viewed their website's homepage in a day with Google Analytics and generate comprehensive reports about the website's performance using this tool.
Demographic Targeting.
When it comes to selling online, knowing as much as possible about the target audience is key so that a company can market directly toward their needs and desires rather than taking a generic approach. The internet provides cost-effectiveness by utilizing the Internet to connect with potential customers worldwide (Ahmadjanovna, and Makhmudovna, 2020). Companies are often confined to reaching only the people within their vicinity with traditional marketing methods, such as visual aids like projected computer slides or recorded videos.
Conclusion and Recommendations
Organizations have realized that to stay afloat in today's market, they must embrace technology as a significant part of their operations. This paper examined one such organization, Olive Ole Fashion Lava Inc., which operates in the fashion industry and has adopted internet marketing as one of its strategies for staying competitive in a very dynamic environment. Internet marketing uses the Internet for advertising and selling products and services. It includes email marketing, search engine marketing (SEM), social media marketing, many types of display advertising (including web banner advertising), affiliate marketing, content marketing and mobile advertising. Like other advertising media, Internet marketing involves a publisher, who integrates advertisements into its online content, and an advertiser who provides the advertisements to be displayed on the publisher's content. The study concluded that internet marketing by small and medium-sized firms could be effective because it promotes business-to-business relationships important for entrepreneurial development. Small and medium-scale firms have embraced internet marketing to promote their products and services to the target market. The study recommended that governments in developing countries formulate policies to improve the infrastructure, including electricity, internet connectivity, and access to computers, to reduce business costs. Small and Medium Scale Firms should embrace internet marketing to improve their market share in the global market.
References
Ahmadjanovna, S. G., & Makhmudovna, K. R. (2020). The essence of the internet marketing complex. Вестник науки и образования, (7-2 (85)), 39-41.
Grubor, A., & Jakša, O. (2018). Internet marketing as a business necessity. Interdisciplinary Description of Complex Systems: INDECS, 16(2), 265-274.
Obednikovska, S., Sotiroski, K., & Mateska, E. (2019). Web Site–basic internet marketing strategy tool of digital companies. Annals of the „Constantin Brâncuşi” University of Târgu Jiu, Economy Series,, (3/2019), 82-91.
Shaltoni, A. M. (2017). From websites to social media: exploring the adoption of internet marketing in emerging industrial markets. Journal of Business & Industrial Marketing.
Shams, S. M. (2019). Industry and managerial applications of internet marketing research. The synergy of business theory and practice, 199-214.
Soegoto, E. S., & Rahmansyah, M. R. (2018, August). Use of internet as product marketing media using internet marketing method. In IOP Conference Series: Materials Science and Engineering (Vol. 407, No. 1, p. 012053). IOP Publishing.
Zitkiene, R., Gircys, V., Zitke, M., & Bartuseviciene, I. (2021). Model of Impact of Social Networks on Internet Marketing of Enterprises. In SHS Web of Conferences (Vol. 92). EDP Sciences.
Appendix
Interview Questions
1. What is your company name, and what does it do?
Olive Ole Fashion Lava Inc. It is a fashion company that offers unique and quality lava products to its customers.
2. How did you start?
I started this business as a side hustle to my full-time job.
3. What do you think is necessary for an entrepreneur to have so they can be successful in their business?
A drive and focus on their personal goals are essential to an entrepreneur’s success.
4. What inspired you to create this product?
As a fashion designer, I found lava stone jewelry fascinating as I can incorporate it with my designs in many ways.
5. Is there any advice you would like to give fellow entrepreneurs?
Do not give up on your dreams even though things don’t work out the first time around, keep trying until you succeed
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