Exploratory Study of the Role Played by Digital Marketing in the Global Market

Introduction

Digital marketing is a crucial tool for firms to interact with their clients in the worldwide market. The way that businesses interact with their target audience has undergone a considerable change as a result of the increasing usage of the internet and social media platforms. Digital marketing, according to Chaffey et al. (2019), is the practice of promoting goods and services using digital channels including search engines, social media, email, and mobile applications. The efficiency of digital marketing in the worldwide market has come under scrutiny due to its growing prominence. Consequently, the purpose of this research proposal is to carry out an exploratory study to comprehend the impact that digital marketing has on the worldwide market. This research will look into how different companies interact with their clients and how digital marketing affects how well enterprises succeed. The obstacles and possibilities related to the usage of digital marketing in the worldwide market will also be examined in this study.

Due to the development of digital technology, there has been a noticeable change in how businesses engage with their clients recently. The number of internet users globally has topped 4.9 billion, while the number of people using social media has surpassed 4.2 billion, according to research by We Are Social and Hootsuite (2021). Businesses must use digital marketing tactics to connect with their clients as the internet and social media become more widely used. According to De Vries et al. (2020), digital marketing has grown to be an essential part of the marketing mix for the majority of companies since it allows them to interact with clients in real time and offer tailored services. However, even though digital marketing is becoming more and more significant, little is known about how successful it is in the worldwide market. By undertaking an exploratory investigation of the function that digital marketing serves in the global market, the research proposal under consideration seeks to fill this vacuum in the literature. We hope to learn more about the various digital marketing techniques employed by companies and how they affect their operations through this study. Businesses will be able to better their overall performance in the global market and optimise their digital marketing tactics with the aid of this information. The results of this study will add to the body of knowledge on digital marketing and provide companies with tips on how to improve their digital marketing plans.

Research Aims and Objectives

The research proposal aims to conduct an exploratory study to understand the role played by digital marketing in the global market. Through this study, the aim is to learn more about the numerous digital marketing tactics employed by companies, their effects on financial performance, and the opportunities and difficulties related to their usage in the worldwide market. The results of this study will add to the body of knowledge on digital marketing and provide companies with advice on how to improve their digital marketing plans. The following are the research aims of the proposal:

1. To examine the different digital marketing strategies used by businesses in the global market.
2. To assess the impact of digital marketing on business performance in the global market.
3. To identify the challenges faced by businesses in implementing digital marketing strategies in the global market.
4. To explore the opportunities presented by digital marketing for businesses in the global market.
5. To provide recommendations for businesses on how to optimize their digital marketing strategies in the global market.

Research Questions

The research questions of the proposal are as follows:

1. What are the different digital marketing strategies used by businesses in the global market?
2. How does digital marketing impact business performance in the global market?
3. What are the challenges faced by businesses in implementing digital marketing strategies in the global market?
4. What are the opportunities presented by digital marketing for businesses in the global market?
5. How can businesses optimize their digital marketing strategies in the global market?

Literature Review

Studies examining the function of digital marketing in the global economy have shown several recurrent patterns. The significance of social media in digital marketing is one such issue. Alalwan et al. (2017) pointed out that social media sites like Facebook, Twitter, and Instagram are crucial tools for businesses to interact with their clients and advertise their goods and services. The effect of digital marketing on customer behaviour is another recurring subject. According to a study by Pappas (2020), digital marketing has the power to affect consumer purchase decisions, because it informs consumers about goods and services and forges an emotional bond with the brand. The difficulties firms experience when putting global digital marketing strategy into practise is a third recurrent subject. Businesses frequently struggle to adjust their digital marketing strategies to various cultural and linguistic settings and to measure the success of their digital marketing initiatives, according to De Vries et al. (2020). The prospects provided by digital marketing for companies operating on the international market are the final major subject. Digital marketing helps firms to access a worldwide audience, personalise their marketing messages, and create engaging experiences for their clients, as mentioned by Chaffey et al. (2019).

Importance of Social Media in Digital Marketing

For businesses, social media has evolved into a crucial instrument for their digital marketing efforts. Alalwan et al. (2017) assert that social media websites like Facebook, Twitter, and Instagram give companies the chance to interact with their clients and market their goods and services in a time- and money-saving way. Businesses may use social media to develop brand recognition and customer loyalty by producing and sharing content that appeals to their target audience. Additionally, social media networks include a variety of ad options that let companies target their ads at particular demographics, interests, and behaviours. These options include promoted tweets, sponsored posts, and social media influencers. Brand postings on Facebook fan pages that were sponsored or promoted generated more engagement and reach than organic posts, according to research by De Vries et al. (2020). The capacity of social media to enhance website traffic and conversion rates is a further advantage of social media in digital marketing. Social media referrals have a greater conversion rate than other types of online referrals, per a study by Krasnova et al. (2018). This is due to the increased likelihood that users of social media would believe suggestions and referrals made by their friends and social networks.

The Impact of Digital Marketing on Consumer Behaviour

Digital marketing has given companies new ways to connect with and interact with their target markets. Businesses may engage with their clients and advertise their goods and services through a variety of digital marketing platforms, including email, social media, and search engine optimization (Chaffey et al., 2019). These channels enable companies to segment their target markets, develop messages that are relevant to them, and assess the success of their marketing initiatives. The emergence of social media is one of the biggest effects of digital marketing on consumer behaviour. Social media platforms provide companies with the chance to interact with their clients and create lasting relationships. Additionally, they enable users to discuss their ideas and experiences with goods and services, which may have an impact on the purchase choices of those in their social networks. According to research by Alalwan et al. (2017), social media advertising elements including sponsored posts and social media influencers can dramatically affect consumers’ intentions to make purchases. Digital marketing does affect customer behaviour, but not necessarily in a good manner. Digital marketing may also result in information overload, which makes it difficult for customers to make wise judgements about their purchases. Additionally, customers can be leery of companies that gather and utilise their data for marketing purposes.

Challenges Faced By Businesses in Implementing Digital Marketing Strategies in the Global Market

Implementing digital marketing strategies in the global market can be challenging for businesses due to various factors. The cultural and linguistic variety of the global market is one of the biggest challenges for organisations, forcing them to adapt their marketing messages and content to many locales and tongues (Kumar & Mirchandani, 2018). To guarantee that their marketing tactics are effective with their target audience, firms must spend on market research and localization efforts, which can be a time-consuming and expensive process. A further difficulty is the quickly changing nature of digital marketing technology, which necessitates organisations to keep abreast of the most recent trends and best practises (Larson & O’Brien, 2019). For firms that lack the resources or knowledge necessary to keep up with the rapidly evolving digital world, this can be challenging.

Concerns over data security and privacy are also major obstacles for companies implementing digital marketing tactics in the worldwide market. Businesses must get express authorization from customers before collecting and using their data for marketing purposes, according to the General Data Protection Regulation (GDPR) and other data privacy laws (Bhatia & Jain, 2018). Significant fines and reputational harm may arise from a company’s failure to adhere to these requirements. Lastly, organisations employing digital marketing tactics in the global market may encounter difficulties due to linguistic and cultural boundaries. Due to cultural variations that might affect how consumers perceive and react to marketing messages, these issues may reduce the efficacy of marketing initiatives (Al-Saggaf & Al-shehri, 2018).

Opportunities Presented By Digital Marketing for Businesses in the Global Market

Businesses have a lot of chances in the worldwide market thanks to digital marketing. Reaching a larger audience through different digital channels, such as social media, email, search engines, and mobile devices, is one of the main advantages (Grewal et al., 2020). Businesses may be able to grow their consumer base and raise their brand awareness in new markets thanks to this expanded reach. The capacity to gather and examine information on customer behaviour and preferences is another possibility provided by digital marketing (Chaffey & Smith, 2017). This information may be used to create personalised content that appeals to certain customers and targeted marketing efforts.

Additionally, digital marketing helps companies to design more interactive and captivating marketing experiences for customers (Lipsman et al., 2012). Gamification techniques and interactive social media campaigns, for instance, can boost customer loyalty and improve consumer engagement. Digital marketing also gives companies more freedom and control over their marketing initiatives (Rahman et al., 2019). In contrast to conventional marketing strategies, digital marketing enables companies to swiftly and simply modify their campaigns in response to shifting market circumstances or customer preferences. Last but not least, digital marketing offers organisations more affordable marketing options than conventional marketing strategies (Seyedghorban et al., 2018). When done well, digital marketing efforts may be established with little financial outlay and yield big returns.

Research Methodology

The Research Onion model developed by Saunders et al. (2018), which is a step-by-step procedure for planning and carrying out research, would serve as the basis for the research technique for the proposed study. The six layers of the Research Onion model include research philosophy, methodology, strategy, time horizon, data gathering techniques, and data analysis techniques. Interpretivism, which emphasises the value of comprehending subjective meanings and interpretations of human behaviour, will serve as the research philosophy for this study (Saunders et al., 2018). This study will have a cross-sectional time frame, which entails gathering information at a specific moment in time (Saunders et al., 2018). Online surveys and in-depth interviews will be two of the data-gathering techniques used. The in-depth interviews will be performed through video conference, while the online survey will be carried out utilising a web-based platform. Both statistical analysis and thematic analysis will be used as data analysis techniques. While the data from the interviews will be analysed using thematic analysis to uncover the many themes and patterns that emerge, the data from the survey will be statistically analysed to identify patterns and correlations among variables.

Research Philosophy

Interpretivism is the research methodology employed in this proposal. The necessity of comprehending subjective meanings and interpretations of human behaviour is emphasised by the research philosophy known as interpretivism (Saunders et al., 2018). In other words, rather than only measuring or forecasting people’s behaviour, interpretivism aims to understand how individuals interpret their experiences. Interpretivism is suited for this suggested study since it aims to comprehend the function of digital marketing in the global market from the viewpoint of companies that have used digital marketing techniques. The study uses interpretivism to better comprehend these companies’ experiences, viewpoints, and attitudes as well as how they have interpreted and understood the opportunities and difficulties given by digital marketing in the global marketplace. Interpretivism is frequently linked to qualitative research techniques, which are excellent for examining varying interpretations and meanings (Saunders et al., 2018).

Research Approach

The research approach used in this proposed study also includes an inductive research approach. Inductive research is a type of research that involves developing theories or understanding from the data collected through the research process (Bryman, 2016). The qualitative portion of the proposed study would employ the inductive research technique, especially for the analysis of in-depth interviews with firms. Instead of constructing a theory or knowledge of the function played by digital marketing in the global market from scratch, the research will enable the themes and patterns that appear in the data to serve as a guide. This suggested study is suited for using an inductive research technique since it enables the examination of fresh concepts and viewpoints that might not have been previously addressed. By starting with the data, the study can capture the experiences and perceptions of businesses towards digital marketing in the global market, which may lead to new insights and understandings.

Research Strategy

The research strategy used in the proposed study is a case study approach. A case study is an in-depth investigation of a specific phenomenon or event in a real-life context (Yin, 2014). The case study method will be employed in this proposed study to examine the function of digital marketing in the global economy from the viewpoint of enterprises. The research will concentrate on several case studies of companies that have used digital marketing techniques in the international market. The research can capture the complexity and subtleties of organisations’ experiences with and views of digital marketing in the global market by employing a case study technique. A case study technique is ideal for this suggested study because it enables a thorough and in-depth examination of the research topic in a real-world setting (Yin, 2014). By focusing on multiple cases, the study can also capture the diversity and variability of businesses’ experiences with digital marketing in the global market.

Time Horizon

The temporal horizon, which is a layer of the research onion, refers to the period that the study will span. A cross-sectional temporal horizon will be employed in this suggested investigation. Data collection takes place throughout a cross-sectional time horizon at a particular moment in time (Saunders et al., 2018). Data collection for this planned study will take place over a predetermined period, which will be decided based on participant availability and the viability of data collection. To investigate the role performed by digital marketing in the worldwide market from the perspective of enterprises at a particular period, a cross-sectional temporal horizon is appropriate for the proposed study. The study aims to capture the current experiences and perceptions of businesses toward digital marketing in the global market.

Data Collection Methods

As a secondary data-gathering technique for this proposed study, a systematic examination of pertinent academic literature and industry reports on digital marketing in the international market will be employed. A systematic review, according to Booth, Sutton, and Papaioannou (2016), is a method for gathering and evaluating published research that is thorough and well-structured. The objective of a systematic review is to locate, evaluate, and synthesise all available research data on a certain subject. It entails a thorough screening and selection procedure to find pertinent research to include in the review, which is followed by a comprehensive search of electronic databases, including academic journals, books, conference proceedings, and other pertinent sources. In this study, the systematic review will be used to identify and analyse the existing literature on the role played by digital marketing in the global market. The review will provide a comprehensive understanding of the existing knowledge on the topic, identify any gaps in the literature that the proposed study can address, and help to develop research questions and objectives.

Following defined procedures and principles for conducting systematic reviews will assure the review process’ rigour. These include the Cochrane Handbook for Systematic Reviews of Interventions, which offers instructions on conducting systematic reviews in the field of medicine, and the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) guidelines, which offer a framework for reporting systematic reviews and meta-analyses. In this proposed study, the systematic review is a crucial secondary data collecting approach since it will give a thorough and rigorous examination of the body of literature already available on digital marketing in the worldwide market, which will be utilised to guide the gathering and analysis of primary data.

Data Analysis Methods

A qualitative data analysis method called thematic analysis is used to find, examine, and present themes or patterns in data (Braun & Clarke, 2006). Thematic analysis will be employed in this study project to examine the information gathered from the corporate executives and digital marketing professionals who participated in focus groups and interviews. The process of doing a thematic analysis entails several processes, including becoming familiar with the data, creating preliminary codes, looking for themes, reviewing and defining themes, and writing a report of the themes found (Braun & Clarke, 2016). To fully comprehend the data, the researchers will read and reread the transcripts of the focus group discussions and interviews throughout the familiarisation phase. The researchers will then create preliminary codes by locating and labelling the significant portions of the data.

The researchers will group codes that pertain to comparable topics after creating the first codes to look for patterns. After that, the themes will be examined and defined by being made sure they align with all of the codes and data. After summarising and interpreting the data in light of the study questions, the researchers will ultimately provide a report on the themes found. A popular and adaptable method, a thematic analysis may be utilised with a variety of study contexts and data sources (Braun & Clarke, 2021). It permits a thorough examination of the data and helps researchers to spot both anticipated and unanticipated results.

Research Ethics

To preserve the rights and welfare of participants and to foster confidence in the research process, it is essential to ensure ethical concerns in research (Bryman, 2016). In this study proposal, ethical issues will be considered at all levels of the investigation.

Firstly, before any data is collected, participants will all have given their informed consent. The study’s objective, their part in it, and their rights to confidentiality and anonymity will all be explained to participants. They will also be told that participation in the study is completely optional and that they are free to revoke their consent at any moment.

Second, during the whole study procedure, confidentiality and anonymity will be upheld. All data will be maintained in a safe area accessible only to the researchers, and participants will be given unique IDs to protect their identities.

Thirdly, participants will be protected from any possible risk. After the data collection, the researchers will give participants the chance to ask questions or seek out further information. The researchers will make sure that no tasks or queries are stressful. Last but not least, the researchers will adhere to the moral standards and laws established by their organisation and pertinent professional associations, such as the American Psychological Association and the British Psychological Society. Personal information would not be collected throughout the data collection process to protect respondents’ privacy (Byrne, 2016). To verify responses, the author would gather email addresses that would likewise not be made public. Additionally, interviewees would obtain formal guarantees about the protection of their confidence, which is crucial. While the research would ensure that the facts were evaluated objectively, it would also ensure that any instances where subjective judgements were drawn were adequately identified and supported. The research will confirm that the required ethical permission has been given before starting data collection.

Dissertation Report Structure

The culmination of this research project will be a 15,000-word dissertation report. Five chapters make up the dissertation report’s organisational structure. A summary of the main aspects of the dissertation report is provided in chapter one, along with an introduction to the report. The literature review is covered in full in Chapter 2, with a focus on how this research study relates to earlier works of literature. The research technique that will be used is described in depth in chapter three. In Chapter 4, which details the findings, analysis, and conclusions, the study questions are discussed as well as the ramifications of the findings are provided. Chapter 5 will include a summary of the findings as well as suggestions for further research.

Significance of Research

For several reasons, the suggested study on the function of digital marketing in the world market is important. First and foremost, the study will advance our understanding of how digital marketing is used in the global economy. Businesses are increasingly utilising digital marketing tactics to reach a broader audience and increase their market share as a result of the fast evolution of digital technology. The success of these techniques in the global market, however, is not well covered in the literature. By examining the function of digital marketing in the global market and highlighting the opportunities and difficulties that firms encounter when applying these tactics, this study will close this gap.

Second, the study will advance knowledge of how digital marketing affects customer behaviour. Businesses must comprehend how digital marketing techniques affect customer behaviour as consumers utilise digital platforms to make purchases more frequently. This study will shed light on how consumer behaviour is impacted by digital marketing and assist companies in adjusting their marketing plans to more effectively target their target market. Finally, the study will have real-world applications for companies doing business internationally. Businesses will be better prepared to build and implement efficient digital marketing strategies that may help them flourish in a highly competitive global market by recognising the potential and difficulties of digital marketing in the market. This research is significant because it will provide valuable insights into the role of digital marketing in the global market and its impact on consumer behavior, thereby contributing to both theoretical and practical understanding of digital marketing in the global context.

Timeline

This research project will last for three months, however, it is a cross-sectional study rather than a longitudinal one. The timetable for data collection and analysis is shown in Table 1. While the delivery schedule for the dissertation report is described in Table 2.

Table 1.

Table 2.

Note: Review sessions are undertaken with the project supervisor

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