AN INVESTIGATION OF THE IMPACT OF SOCIAL MEDIA ON BUSINESS VALUE AND FINANCIAL PERFORMANCE OF ORGANIC SKIN CARE BRANDS IN THAILAND
PDF

Keywords

Social Media
Cosmetic
Financial Performance
Quantitative Methods

Abstract

The adoption of social media in promoting cosmetic brands had changed the traditional approach to creating value for consumers, which subsequently improve the firms’ financial performance. With the organic skincare brands, the research empirically examined to what extent and aspects the business value is shaped by social media promotions. The research findings from the quantitative analysis suggest that the business value could be created through curation, collaboration, and creation in social media marketing.

https://doi.org/10.21512/ijobex.v3i2.7124
PDF
Dimensions

References

Aisyah, M (2017) Consumer demand on halal cosmetics and personal care products in Indonesia Al-Iqtishad Journal of Islamic Economics, 9(1), 125-142 https://doi.org/10.15408/aiq.v9i1.1867

Ajayi, V (2017) Primary Sources of Data and Secondary Sources of Data PDF Ashley, C and Tuten, T (2015) Creative strategies in social media marketing An exploratory study of branded social content and consumer engagement Psychology & Marketing, 32(1), 15-27 https://doi.org/10.1002/mar.20761

Beltran, L (2019) Online beauty brand Glossier valued at $1 2 billion Retrieved on 20 October 2019 from https //www crainsnewyork com/retail-apparel/online-beauty-brand-glossier-valued-12-billion Cheng, Y Y , Tung, W F , Yang, M H and Chiang, C T (2019) Linking relationship equity to brand resonance in a social networking brand community Electronic Commerce Research and Applications, 35 Conti, E (2018) The Experiential Approach in the Cosmetics Industry The Eva Garden Case Study In The Experience Logic as a New Perspective for Marketing Management, pp 187-204 Springer, Cham

Crets, S (2018) Beauty retailers grow US online sales 24% Retrieved on 20 October 2019 from https //www digitalcommerce360 com/article/beauty-ecommerce-sales/ Dwivedi, Y K , Kapoor, K K and Chen, H (2015) Social media marketing and advertising The Marketing Review, 15(3), 289-309 https://doi.org/10.1016/j.jretconser.2017.11.001 Felix, R , Rauschnabel, P A and Hinsch, C (2017) Elements of strategic social media marketing A holistic framework Journal of Business Research, 70, 118-126 https://doi.org/10.1016/j.jbusres.2016.05.001

Future Marketing Insights (2015) ASEAN Organic Cosmetics Market Thailand, Indonesia, and Philippines Largest Markets Retrieved on 20 October 2019 from http //industrial embedded-computing com/news/asean-indonesia-philippines-largest-markets/ Ghazali, E , Soon, P C , Mutum, D S and Nguyen, B (2017) Health and cosmetics Investigating consumers’ values for buying organic personal care products Journal of Retailing and Consumer Services, 39, 154-163 https://doi.org/10.1016/j.jretconser.2017.08.002 Hajli, N (2015) Social commerce constructs and consumer's intention to buy International Journal of Information Management, 35(2), 183-191 Hossain, T M T , Akter, S , Kattiyapornpong, U , & Wamba, S F (2017) The impact of integration quality on customer equity in data driven omnichannel services marketing Procedia Computer Science, 121, 784-790 Kaplan, A M , & Haenlein, M (2011) Two hearts in three-quarter time How to waltz the social media viral marketing dance Business Horizons, 54(3), 253-263 Karjaluoto, H , Ulkuniemi, P , Huotari, L , Saraniemi, S , & Mäläskä, M (2015) Analysis of content creation in social media by B2B companies Journal of Business & Industrial Marketing Keller, K L , & Brexendorf, T O (2017) Measuring brand equity Handbuch Markenführung, pp 1-32

Khaldi, K (2017) Quantitative, Qualitative or Mixed Research Which Research Paradigm to Use? PDF Kim, A J , & Johnson, K K (2016) Power of consumers using social media Examining the influences of brand-related user-generated content on Facebook Computers in Human Behavior, 58, pp 98-108 Kohler, T , & Chesbrough, H (2019) From collaborative community to competitive market the quest to build a crowdsourcing platform for social innovation R&D Management, 49(3), 356-368 Kumar, V , Choi, J B , & Greene, M (2017) Synergistic effects of social media and traditional marketing on brand sales capturing the time-varying effects Journal of the Academy of Marketing Science, 45(2), 268-288 Kwon, E , Ratneshwar, S , & Thorson, E (2017) Consumers' Social Media Advocacy Behaviors Regarding Luxury Brands An Explanatory Framework Journal of Interactive Advertising, 17(1), 13-27 Lee, S L , Namkung, Y and Yoon, H H (2018) A Study on the Effect of Customer Equity on Behavioral Intentions Moderating Effect of Restaurant Type Culinary Science & Hospitality Research, 24(2), 51-62 Liao, Y K , Wu, W Y , Amaya Rivas, A A and Lin Ju, T (2017) Cognitive, experiential, and marketing factors mediate the effect of brand personality on brand equity Social Behavior and Personality: an international journal, 45(1), 1-18 Luo, J (2019) The Impact of Celebrity Endorsement Advertising Frequency on Brand Equity among Idolaters and Non-idolaters A Study of the Chinese Cosmetics Market

Maril, M (2019) 6 Brands Like Glossier With Cool, Simple, & Affordable Products Retrieved on 20 October 2019 from https //www thezoereport com/p/6-brands-like-glossier-with-cool-simple-affordable-products-18233364 Market Watch (2019) Global Organic Skin Care Products Market Share, Size 2019 Industry Segmentation, Trend, Competitors, Growth, Up and Down Stream Industry Analysis and Forecast Details for 2024 | Market Reports World Retrieved on 20 October 2019 from https //www marketwatch com/press-release/global-organic-skin-care-products-market-share-size-2019-industry-segmentation-trend-competitors-growth-up-and-down-stream-industry-analysis-and-forecast-details-for-2024-market-reports-world-2019-07-15

Mellow Naturals (2019) 7 Thai Beauty Brands You Need To Know Retrieved on 20 October 2019 from https //th mellownaturals com/blogs/mellowskincare/7-thai-beauty-brands-you-need-to-know

Pelet, J E , Pratt, M A and Fauvy, S (2015) MOOCs and the integration of social media and curation tools in e-learning In International Workshop on Learning Technology for Education in Cloud, pp 43-53 Springer, Cham

Ravi, K (2018). How Glossier Built a Cult Following on Social Media [Online] Available from https //blog unmetric com/glossier-social-media-strategy ]Accessed on 20 October 2019[

Roderick, L (2016) L’Oréal says brands are using influencers the wrong way [Online] Available from https //www marketingweek com/loreal-on-why-other-brands-are-using-influencers-the-wrong-way/ ]Accessed on 20 October 2019[

Schiffer, J (2018) What makes a beauty brand worthy of investment in 2018 Retrieved on 20 October 2019 from https //digiday com/marketing/makes-beauty-brand-worthy-investment-2018/

Simon, M K , (2011) Dissertation and scholarly research Recipes for success, Seattle, W A Dissertation Success LLC

Sondhi, N and Wilson, J (2011) Essentials of Business Research A Guide to Doing Your Research Project New Delhi SAGE Publications India Pvt Ltd, 2010, 316. Global Business Review, 12(2), 343-344. https://doi.org/10.1177/097215091101200211 Statista (2017) Number of social network users in Thailand from 2017 to 2023 Retrieved on 20 October 2019 from https //www statista com/statistics/489230/number-of-social-network-users-in-thailand/ Stephen, A T (2016) The role of digital and social media marketing in consumer behavior Current Opinion in Psychology, 10, 17-21 Suresh, V , Chitra, M and Maran, K (2016) A study on factors determining social media on cosmetic product Journal of Pharmaceutical Sciences and Research, 8(1), 1-5 https://www.jpsr.pharmainfo.in/Documents/Volumes/vol8Issue01/jpsr08011601.pdf

SurveyMonkey (2019) ‘Sample size calculator’ Retrieved on 20 October 2019 from https //www surveymonkey com/mp/sample-size-calculator/

Taber, K S (2018) The Use of Cronbach’s Alpha When Developing and Reporting Research Instruments in Science Education Research in Science Education, 48, 1273 – 1296 https://doi.org/10.1007/s11165-016-9602-2 Team, T (2017) L'Oreal Is Benefitting From A Higher Digital Spending Retrieved on 20 October 2019 from https //www forbes com/sites/greatspeculations/2017/02/08/loreal-is-benefitting-from-a-higher-digital-spending/#1ff4419a43c1 The ASEAN organic cosmetics market is set for a boom. (2016) GIC Magazine Retrieved on 20 October 2019 from https //www gcimagazine com/marketstrends/regions/asiapacific/The-ASEAN-Organic-Cosmetics-Market-Is-Set-for-a-Boom-394836721 html Turcotte, J , York, C , Irving, J , Scholl, R M and Pingree, R J (2015) News recommendations from social media opinion leaders Effects on media trust and information seeking Journal of Computer-Mediated Communication, 20(5), 520-535 https://doi.org/10.1111/jcc4.12127 Tuten, T L and Solomon, M R (2017) Social Media Marketing New Delhi SAGE

Valentine, O (2019) How social media is reshaping the beauty industry Retrieved on 20 October 2019 from https //wearesocial com/blog/2019/07/how-social-media-is-reshaping-the-beauty-industry Varkaris, E and Neuhofer, B (2017) The influence of social media on the consumers’ hotel decision journey Journal of Hospitality and Tourism Technology, 8(1), 101-118. https://doi.org/10.1108/JHTT-09-2016-0058

Vizard, S (2018) L’Oréal looks to drive up ecommerce sales in AR partnership with Facebook Retrieved on 22 October 2019 from https //www marketingweek com/loreal-looks-to-drive-up-ecommerce-sales-in-ar-partnership-with-facebook/ Wang, Z , & Kim, H G (2017) Can social media marketing improve customer relationship capabilities and firm performance? Dynamic capability perspective Journal of Interactive Marketing, 39, 15-26

World Bank. (2018) ‘Thailand Population’ Retrieved on 20 October 2019 from https //www google com/publicdata/explore?ds=d5bncppjof8f9_&met_y=sp_pop_totl&idim=country THA VNM JPN&hl=en&dl=en

Younus, M A F (2014) Flood vulnerability and adaptation to climate change in Bangladesh A review Journal of Environmental Assessment Policy and Management, 16(3), 35–76. https://doi.org/10.1142/S1464333214500240 Yuan, C L , Kim, J , & Kim, S J (2016) Parasocial relationship effects on customer equity in the social media context Journal of Business Research, 69(9), 3795-3803 https://doi.org/10.1016/j.jbusres.2015.12.071 Zhang, H , Liang, X and Wang, S (2016) Customer value anticipation, product innovativeness, and customer lifetime value The moderating role of advertising strategy Journal of Business Research, 69(9), 3725-3730 https://doi.org/10.1016/j.jbusres.2015.09.018 Zhu, Y Q and Chen, H G (2015) Social media and human need satisfaction Implications for social media marketing Business Horizons, 58(3), 335-345. https://doi.org/10.1016/j.bushor.2015.01.006

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.

Copyright (c) 2020 Array

Plum Analytics