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- All Subjects: Influencers
- All Subjects: healthcare
- Creators: Schlacter, John
To gain insight into the state of the industry and current position of independent bookstores, I will first examine the past fifty years of the brick-and-mortar bookstore, followed by a Porter’s Five Forces analysis of the industry threats and a SWOT analysis to compare the strengths and weaknesses of independent bookstores. Next, the patrons of independent bookstores will be discussed with a focus on the two largest consumer groups of Millennials and Baby Boomers, their characteristics, and the opportunities they provide to bookstores. After this there will be an exploration of the competitors to brick-and-mortar bookstores, focusing on Amazon and then touching on some of the other rivals to bookstores’ consumer base. The next section will be an in-depth analysis of a variety of bookstores across the United States, with attention to their successful practices, goals, concerns, and failures. First, there will be a comparison of industry success and failure through case studies of Borders and Powell’s bookstores. Next, there will be a comparison of five beloved independent bookstores across the country to share their varied competitive advantages that are the secret to their success. Finally, there are primary source interviews with the employees of three major Phoenix bookstores, which provide insight into the goals, current projects, attitudes, and inner strengths of these businesses. Finally, the thesis will conclude with a section offering solutions and suggestions for independent bookstores to pursue based on the primary and secondary research discussed above. These recommendations are focused on five key areas:
• Community
• Consumers
• Store Design
• Technology
• Diversification
Ultimately, the information provided by this research and these interviews indicates that while vital business changes are being pursued by independent and chain bookstores across the United States, the independent bookstore shows no signs of disappearing in favor of online vendors or e-readers.
Micro influencers have become extremely powerful in terms of swaying buying patterns among consumers. This thesis examines the greater impact that micro influencers have on brand marketing. This was completed through a literature review that highlights the evolution of marketing, influencer marketing, discussing reach, relevance, and resonance, and Generation Z’s purchasing decisions. In addition, we conducted an online survey through Qualtrics that allowed us to analyze the impact social media influencers have. The results of our research indicate that TikTok is used most frequently, but Instagram is where social media influencers are followed most. From our data, we concluded that Generation Z is most influenced by authentic, genuine content created by influencers regardless of follower count. We recommend that a brand interested in reaching Generation Z (we refer to the brand as “Brand X”) use micro influencers, as our research shows that genuine relationships are valued among this generation. We believe that micro influencers are the most valuable to use as they are able to create meaningful relationships with consumers due to their reach, relevance, and resonance with the individuals their content reaches.
Micro influencers have become extremely powerful in terms of swaying buying patterns among consumers. This thesis examines the greater impact that micro influencers have on brand marketing. This was completed through a literature review that highlights the evolution of marketing, influencer marketing, discussing reach, relevance, and resonance, and Generation Z’s purchasing decisions. In addition, we conducted an online survey through Qualtrics that allowed us to analyze the impact social media influencers have. The results of our research indicate that TikTok is used most frequently, but Instagram is where social media influencers are followed most. From our data, we concluded that Generation Z is most influenced by authentic, genuine content created by influencers regardless of follower count. We recommend that a brand interested in reaching Generation Z (we refer to the brand as “Brand X”) use micro influencers, as our research shows that genuine relationships are valued among this generation. We believe that micro influencers are the most valuable to use as they are able to create meaningful relationships with consumers due to their reach, relevance, and resonance with the individuals their content reaches.
Influencer marketing is when individuals with dedicated social media followings are sought out by brands to utilize their position on certain platforms to endorse a brand’s products and be compensated through payment or merchandise. I will be looking at the concept of trust when it comes to influencer marketing alongside the Fogg Behavior Model. Used to evaluate an individual’s behavior in the decisions making process, The Fogg Behavior Model bases itself in a persuasive environment by focusing on three key elements: motivation, ability, and trigger. When utilized in collaboration with influencer marketing, these elements together could have a strong effect on driving consumer behaviors. I utilized one of the most recent and popular social media platforms, TikTok, known for its short-form mobile videos, to explore these behavioral elements in action. Like any other media platform, TikTok influencer marketing requires a high amount of trust between the consumer and influencer to be successful and efficiently persuade the target market. I collected primary research by surveying opinions on trust and buying behaviors based on three different videos. One video had a hidden partnership disclosure in the caption, the second had a plainly visible partnership disclosure, and the third had a plainly visible partnership disclosure and verbally disclosed the relationship between the brand and the influencer. The analysis showed that participants felt a higher degree of trust towards the video which contained a verbal disclosure of the influencer’s partnership with the brand. The results lacked specificity on whether this perception of trust would successfully lead to a purchase, which could be adjusted for in future research; however, it did show there was motivation through the Fogg Model to look further into the product presented. I recommend influencers be as transparent and genuine as possible to earn the trust or their followers, as well as ensure all three factors of Fogg are present to increase their persuasive abilities over consumers completing a purchase.