A principal component analysis on marketing 2.0 on business performance in ghana
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Date
2023
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KNUST
Abstract
. The study analysed the impact of marketing 2.0 on business performance in Ghana. Marketing 2.0 has become an integral part of most business' communication strategies, and for a long time, marketing had been mainly focused on the traditional aspect, but has since adapted to ii new contexts such as online platforms, with the emergence of user generated content. Again, marketing 2.0, which involves interactive communication between consumers and businesses. Many supermarkets perceive social media as unprofitable, as they are unaware of its benefits in terms of customer relations and ROI. The study focused on a Principal Component Analysis of marketing 2.0 and its effect on business performance in Ghana. Questionnaires (Likert scale questionnaire was used for data collection) would be employed. Secondary data would be retrieved from journals and scientific reports, articles, academic papers. Data gathered was presented in tables and bar charts using Business Management Statistical Package for Social Sciences version 26 for hypothesis testing, correlation analysis, and regression analysis. Data was collected from 240 workers of Nestle Ghana Limited - Accra Metropolis. Convenience sampling method was used to select the respondents. Data was analysed quantitatively. The results revealed that there is very strong positive correlation between marketing 2.0 and supermarket performance. The correlation values were 0.00 denoting statistically significant relationship as marketing 2.0 is the latest trend in marketing that focuses on leveraging digital and social media platforms to reach customers and drive sales. It involves using a customercentric approach to engage with customers, personalizing content and messaging, and leveraging data to create more effective campaigns. Therefore, it was recommended that researching on how digital technologies can be used to boost supermarket performance is essential as technology develops further and new digital solutions become accessible. Key The study analysed the impact of marketing 2.0 on business performance in Ghana. Marketing 2.0 has become an integral part of most business' communication strategies, and for a long time, marketing had been mainly focused on the traditional aspect, but has since adapted to ii new contexts such as online platforms, with the emergence of user generated content. Again, marketing 2.0, which involves interactive communication between consumers and businesses. Many supermarkets perceive social media as unprofitable, as they are unaware of its benefits in terms of customer relations and ROI. The study focused on a Principal Component Analysis of marketing 2.0 and its effect on business performance in Ghana. Questionnaires (Likert scale questionnaire was used for data collection) would be employed. Secondary data would be retrieved from journals and scientific reports, articles, academic papers. Data gathered was presented in tables and bar charts using Business Management Statistical Package for Social Sciences version 26 for hypothesis testing, correlation analysis, and regression analysis. Data was collected from 240 workers of Nestle Ghana Limited - Accra Metropolis. Convenience sampling method was used to select the respondents. Data was analysed quantitatively. The results revealed that there is very strong positive correlation between marketing 2.0 and supermarket performance. The correlation values were 0.00 denoting statistically significant relationship as marketing 2.0 is the latest trend in marketing that focuses on leveraging digital and social media platforms to reach customers and drive sales. It involves using a customercentric approach to engage with customers, personalizing content and messaging, and leveraging data to create more effective campaigns. Therefore, it was recommended that researching on how digital technologies can be used to boost supermarket performance is essential as technology develops further and new digital solutions become accessible.
Description
A Thesis Submitted to the Department of Supply Chain and Information Systems of the Kwame Nkrumah University of Science and Technology School of Business, in partial fulfilment of the requirements for the award of the degree of MASTER OF SCIENCE IN (MARKETING)