THE ROLE OF SOCIAL MEDIA IN SHAPING THE BUSINESS ENVIRONMENT
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ABSTRACT: THE ROLE OF SOCIAL MEDIA IN SHAPING THE BUSINESS ENVIRONMENT
This research aims to: 1) assess the impact of social media on consumer engagement; 2) analyze the influence of social media platforms on marketing strategies; and 3) evaluate the role of social media in brand reputation management. A survey research design is employed to gather diverse perspectives on social media usage. Using Taro Yamane’s formula, a sample size of 340 participants, including social media managers and marketing professionals, is determined. Lagos, with its active social media landscape, is selected as the location. The survey instruments achieve a reliability coefficient score of 0.87. Findings reveal that social media enhances consumer engagement, facilitates targeted marketing campaigns, and influences brand perceptions. Businesses leverage social media analytics, engage with online communities, and monitor brand mentions to optimize their social media strategies. The study recommends that companies integrate social media into their marketing plans, prioritize authentic engagement, and maintain active social media presence to harness its full potential in shaping the business environment.
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