Research Methods in Business

Topic:
Analysis of the effectiveness of targeted ads vs conventional
ads and people’s perceptions about targeted digital ads

Guided by: Prof Amit K Gupta

Group Members:

21P135 | Chandan Gupta

21P136 | Chittrieta Gorain

21P150 | Lokesh Agarwal

21P165 | Sachi Agarwal

21P174 | Tanishk Shukla

21P175 | Tushar Kashyap

TABLE OF CONTENTS
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INTRODUCTION 3

LITERATURE REVIEW 6

THEORY 12

CONCEPTUAL DIAGRAM 14

METHODOLOGY 15

CONCLUSION 17

IMPLICATIONS 17

FUTURE SCOPE 18

QUESTIONNAIRE 19

REFERENCES 26

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INTRODUCTION

Rapid technical advancements have substantially accelerated during the previous few decades.
The internet has altered the global character of advertising. This advancement in information
and communication technology (ICT) is significant in influencing customer purchasing
behaviour, resulting in a shift in company strategy tactics for advertising. Online advertising is
growing at a rapid pace, and the industry is predicted to grow in importance as the world moves
closer to digitization in the aftermath of the COVID-19 pandemic. Social media engagement
(e.g., likes, followers, etc.) is important to brands. This is because it has the potential to
favorably impact a large number of people. It has been observed that customers who actively
communicate with companies via social media platforms strengthen the ties with the
corresponding brands in contrast to those who eschew the interactions.

Because of the rapid advancement in advertising media and marketing technology, it has now
become possible for a firm to precisely target a specific set of potential consumers within a
market. Hence it is important to comprehend how customers perceive conventional forms of
advertising (print, broadcast, telephone, outdoor methods, etc.) versus targeted marketing
performed through personalized ad campaigns and properly analyse the effectiveness of
targeted ads vs convention ads on customers. In this context, consumers and SMEs as
"advertising end-users" are expected to be exposed to more online advertising that is targeted
based on their behavioural patterns to broaden their reach.

As the concern for privacy and the concern of small businesses grows, we are witnessing a
transitory phase in digital advertising. Apple, one of the largest manufacturers of smartphones
and devices, came up with Apple's app tracking transparency, which hinders how companies
could track users' movement in different apps and personalize advertisements for them.
Similarly, Google hoped to replace cookies with FLoC (or Federated Learning of Cohorts), but
now it has been postponed. Facts like Google and Facebook collect data from users'
microphones makes people skeptical towards these channels. A lot of users have now started
switching to applications and software that allows privacy and does not track user data.

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Why did we choose this?

1. Recent awareness of how companies harvest user data for paid advertisement, and can
even alter our perception, like the USA's Cambridge Analytical data scandal, has created
a sense of data privacy concerns in a lot of users. This can be seen with the rise of
privacy pro browsers and VPN services users. We intend to see if these concerns over
how targeted advertisements work, affect the consumer perception of a brand.

2. As visual semiotics play an important role in any form of advertisement, with the rapid
development in technology, we are at the doorsteps of the various metaverse filled with
advertisements. We should analyse synergy between both digital and traditional
advertisement, so as to understand how these might be applicable in a digital
metaverse, where the conventional mode of advertisement would be used. 

What we intend to do?

With this shift in trend, we would like to look at the types of ads that appeal to customers in
various scenarios and how they can best resonate with them through this research. Also, how
brands may increase client engagement for a specific product or service by properly utilizing
various forms of advertising channels. Furthermore, we will try to comprehend crucial scenarios
in which both traditional and targeted advertising can operate together to market a certain
product/service to clients, as well as how the order in which these channels are used can affect
the ad campaign. In line with these findings, we would also analyse how consumer's privacy
concerns affect their perception of these digital advertisements.

How will we do it?

In this research, we will perform a descriptive study to determine the efficacy of traditional and
targeted marketing, as well as gauge people's perceptions of new-age targeted commercials.
First, items that respond to traditional and targeted commercials, as well as those that have
transitioned from traditional to digital advertising mediums, will be identified. A poll will be
created to assess people's attitudes regarding current forms of advertising. Data will be
gathered through primary and secondary research and a conceptual diagram will be created,

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depicting all hypotheses. The efficiency of different kinds of advertising will then be studied
using quantitative data gathered. Reliability measures, Validity measures will be conducted for
thorough analysis.  The results of a statistical analysis of data will be computed, and any
consequences will be discussed.

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LITERATURE REVIEW

Castillo-Abdul B., Bonilla-Del-río M., Núñez-Barriopedro E. discuss that social networks are
particularly significant in marketing and advertising because they give platforms that allow
interactive network channels to establish consumer brands. Facebook is one of the most useful
platforms of this type for capturing leads for businesses that sell to customers. In this regard, the
goal of this study is to determine the degree of influence and relationship between Branded
Content and the luxury fashion firm's social media consumer interactions in the specified
network. This analysis enables us to determine which types of content perform best in social
media.

Djafarova E., Bowes T. talk about which Instagram marketing tools are most beneficial in terms
of Generation Z's impulse buying behaviour in the fashion industry. The Stimulus-Organism-
Response model is used to Instagram in this study. According to the findings of this qualitative
study based on eight in-depth focus groups, there are substantial gender variations in impulse
purchasing behaviour on Instagram. Female participants found Instagram to be quite influential
in driving spontaneous purchases, but this was not the case for male participants.

Tran T.P., Muldrow A., Ho K.N.B. discuss a theory-driven model of perceived personalization
on social media consumer–brand relationships to the test. Two investigations employing partial
least squares structural equation modelling are used to empirically test the conceptual model.
Other techniques are utilized to gain greater insight into the analytical process, such as common
method bias, multigroup comparison, mediation analysis, and model fit comparison. Perceived
personalization is positively connected to brand-related outcomes such as brand self-
expression, consumer–brand engagement, and brand connection, according to data from two
research. Brand love is positively associated to consumer–brand interaction and brand
connection, but not to brand self-expression.

Kaur K., Kumar P. establish that the use of social media among Internet users has expanded
as technology has advanced. People spend their days on social media, and marketers cannot
afford to miss out on this opportunity to convert these users into potential customers. This is a
qualitative study in which owners and managers of beauty and wellness centers that utilize
social media to promote their businesses were interviewed in depth. This research identifies the
five M's of social media activities (Motives, Media, Management, Merits, and Metrics) that are
important in social media promotion. Limitations and implications of the study: Because this is a

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qualitative study, it is exploratory in nature and limited to only beauty and wellness centers,
therefore the results cannot be generalized.

Pallant J.I., Pallant J.L., Sands S.J., Ferraro C.R., Afifi E. state that for merchants, consumer
data is a valuable resource. Consumers are increasingly being asked to freely participate in
data exchange in order to have access to this data. To study disparities in consumer willingness
to share data with shops, this paper uses social exchange theory and privacy calculus.
Consumers' perceptions of retailers' data use and abuse, as well as the origins and
repercussions of these beliefs, are also profiled. We collect data from a sample of US
customers using a cross-sectional quantitative survey.

Wang Z. discusses that It is critical for businesses to increase consumer brand engagement.
Firms use enhanced engagement to drive brand loyalty and resonance in the face of constant
disruptions in traditional consumer brand communications and rising demand on consumer
attention and noise. However, the mechanisms by which consumers interact with brands,
particularly via social media, are less well understood. This research illuminates consumer
engagement by offering a model that examines the factors that influence customers' interaction
with a brand page, as well as the impact on future purchases and overall brand evaluation.
Customers' perceptions of brand page post attributes and content have a favourable impact on
attitudes and engagement, according to this study. Consumer brand engagement in the setting
of social media brand pages with various brands is further validated and applied in this study.

Pittman M., Abell A. talk about how social media influencers are increasingly being used in
digital marketing campaigns. Influencer marketing research has looked into popularity metrics,
but the results have been mixed on how the number of followers and likes on posts may
influence consumer behaviour. The current study looks into influencers' green living preferences
as a moderating factor that leads to diverse interpretations of popularity measures in the context
of green marketing messages. Green influencers, or "greenfluencers," appear to benefit from
lower popularity measurements. Increased trust in greenfluencers with lower popularity leads to
improved attitudes toward a sponsored product and higher purchase intentions.

Cheng M., Liu J., Qi J., Wan F. state that researchers and practitioners can utilise social media
to conduct study from the perspective of end-users in order to impact company strategic
decisions because it has a large amount of data. We experimentally analyse the inter-
relationship between company-generated messaging, consumer digital engagement, and firm

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sales success in the movie industry using a large-scale dataset acquired from a micro-blogging
site and consumer-oriented information aggregated from different sources.

Dwivedi Y.K., Ismagilova E., Hughes D.L., Carlson J., Filieri R., Jacobson J., Jain V.,
Karjaluoto H., Kefi H., Krishen A.S., Kumar V., Rahman M.M., Raman R., Rauschnabel
P.A., Rowley J., Salo J., Tran G.A., Wang Y. Researchers and practitioners can utilise social
media to conduct study from the perspective of end-users in order to impact company strategic
decisions because it has a large amount of data. We experimentally analyse the inter-
relationship between company-generated messaging, consumer digital engagement, and firm
sales success in the movie industry using a large-scale dataset acquired from a micro-blogging
site and consumer-oriented information aggregated from different sources.

Tiwary N.K., Kumar R.K., Sarraf S., Kumar P., Rana N.P. mention that although essential
components such as media coverage, word of mouth, law, and environmental conditions are
beyond a company's control, they have a substantial impact on its brand image. In terms of
acquiring customer data and supporting B2B marketers, SM has enormous potential. As a
result, based on 294 articles, this study examined SM usage in the B2B setting.

Masuda H., Han S.H., Lee J. discuss that influencer marketing on social media has recently
gotten a lot of attention. Many research has looked into the formation of para-social
relationships (PSRs) between influencers and followers. Despite the numerous PSR research,
PSR has rarely been compared to other extensively utilised relationship marketing frameworks.
This study created a research model based on persuasion theory, which was used to explore
the relative importance of the PSR. As antecedents of purchase intention, the researchers
looked at three personal characteristics (attitude homophily, physical beauty, and social
attractiveness) and three characterizations (trustworthiness, perceived expertise, and PSR).
Data was gathered from a poll of respondents who purchased products/services after seeing
influencer marketing on YouTube. In comparison to other characterizations, PSR had a
considerable favourable impact on purchase intentions, according to the study.

Seth Ampadu, Yuanchun Jiang, Emmanuel Debrah, Collins Opoku Antwi, Eric Amankwa,
Samuel Adu Gyamfi, and Richard Amoako discuss that over the last few years, consumer
lifestyles and purchasing habits have changed dramatically. Consumers may now order goods
and services on the fly or in real time without having to physically visit traditional store outlets
thanks to internet technologies. This situation necessitates a shift in marketing strategy in order

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to reach customers wherever they may be. As a result, online marketing tactics such as
personalised product/service recommendation, which makes products available to consumers
while optimising their interests and purchasing experience, are critical to market growth.

Waqas M., Hamzah Z.L., and Salleh N.A.M study that brands are increasingly using social
media to communicate with their customers. Brands are constantly looking for new methods to
engage customers on social media platforms by providing positive experiences. Despite a lot of
study on social media in marketing, the consumer experience notion in social media is still
underdeveloped. This study fills in the gaps by applying consumer culture theory to explain
consumer experience with social media marketed content and by offering a clear
conceptualization of consumer experience with social media branded content.

Khan I. studies that given the growing interest in the importance of a brand's social media
marketing activities (SMMA) in offering better experiences, the current study investigates the
relationships between SMMA, brand experience, purchase intention, and brand attitude. The
consumer generation (Millennials vs. Non-Millennials) and customer involvement level (high vs.
low) are also considered as modifiers in the SMMA-brand experience link in this study. 413
responses were collected from people who follow a brand on social media, and the data was
analysed using structural equation modelling. The findings imply that SMMA plays a critical role
in generating brand experience, purchase intent, and brand attitude.

Lee P.Y., Koseoglu M.A., Qi L., Liu E.-C., and King B. discuss that in the hospitality business,
influencer marketing has evolved into a significant tool for brand promotion and market
expansion. Those in charge of developing influencer marketing initiatives, on the other hand, fall
prey to the "myth of viewability" and use the Cost Per View (CPV) statistic instead of the more
appropriate Cost Per Action (CPA). The current study investigates the aforementioned myth
from the standpoint of hospitality management by determining the types of images (or photo)
that elicit greater audience comment or liking. Two experiments with influencer pairs are
conducted in the restaurant context in Taipei, Taiwan, using a qualitative research approach. As
our manipulated group, we chose influencers Q and S. It was discovered that people make
more use of photographs while posting them on social media platforms.

Shubhendra S. Parihar and Puneet Rai state that social media is widely used by people of all
ages. With age and environment, the purpose and demands may change. Young people, on the
other hand, are more likely to use Snapchat and Instagram, whilst working professionals are

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more likely to use LinkedIn or Twitter. The user and pleasure hypothesis describes how different
media are used and why people consume them. Individuals are increasingly more inclined
toward hedonic activities such as enjoyment and relaxation, and they find that digital platforms
are handier in meeting their psychological and social demands. Inbound and outbound active
networks such as Facebook, WhatsApp, Instagram, and Twitter are becoming more popular
than passive media such as television and radio.

Seth Ampadu, Yuanchun Jiang, Emmanuel Debrah, Collins Opoku Antwi, Eric Amankwa,
Samuel Adu Gyamfi, and Richard Amoako discuss that over the last few years, consumer
lifestyles and purchasing habits have changed dramatically. Consumers may now order goods
and services on the fly or in real time without having to physically visit traditional store outlets
thanks to internet technologies. This situation necessitates a shift in marketing strategy in order
to reach customers wherever they may be. As a result, online marketing tactics such as
personalised product/service recommendation, which makes products available to consumers
while optimising their interests and purchasing experience, are critical to market growth.

Timo S., Alexandra R., and Daniel B. demonstrate that men and women have quite different
preferences when it comes to product recommendations in ads. As a result, retailers and
advertisers should consider personalizing their ads not just in terms of the products shown, but
also in terms of other design elements such as the number of recommendations based on
individual or segment-specific customer preferences. It also discusses personalization in
multichannel marketing, stating that the efficiency of individualized advertising in banner ads is
substantially lower than in package inserts or emails.

By adjusting the size of the product exhibited, Chiara V., Stefania R., Grazia M., and Marta P.
discuss about manipulating gaze in terms of the subject's gaze direction and product salience.
The impact of these modifications on digital visual engagement and purchase intent is
demonstrated in the study. The study also shows that direct gaze and strong product salience
have a beneficial impact on digital visual engagement. Furthermore, digital visual engagement
has an impact on purchase intent.

The study by Ali A. A focuses on the most important characteristics connected to social media
advertising that can predict purchase intent. The conceptual model was proposed using three
variables from the Extending the Unified Theory of Acceptance and Use of Technology
(UTAUT2), as well as interactivity, informativeness, and perceived relevance. This model was

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validated, and it was shown that performance expectancy, hedonic motivation, interaction,
informativeness, and perceived relevance all have a substantial impact on purchase intentions.

The research adds to the body of knowledge on online media synergy and integrated marketing
communications, as well as has practical implications for marketers that Xuebing D., Hongbo L
address in their study. The study's findings suggest that the interplay between the two
categories(OBM-OIM) has an impact on customer persuasion. In the case of search goods, the
sequence of first online broadcast media and then online interactive media causes consumers
to accept and respond to messages more readily. However, for experience products, customers
are more likely to accept and respond to messages when they are delivered via online
interactive media rather than online broadcast media.

According to the study by Ashutosh P., Rajendra S., and Manoj K. D., 2018, one consumer's
opinion influences the purchase intention of another consumer; as a result, companies must be
aware of such potential channels of communication and should try to reap the benefits by
analyzing and participating in such eWOM communication. The study discovered that
millennials' attitudes regarding social media advertising have a positive impact on their
purchase intentions, which is consistent with prior surveys and studies. It can assist marketers
in capturing consumers' interest by learning their preferences for advertisements displayed on
social media platforms, as well as contributing to making the required changes to create
effective social media ads. People to people contact is claimed to be more relevant than
traditional marketing. This type of connection leads to the exchange of goods, views, ideas, and
other information, which marketers in a social media environment cannot overlook. According to
the findings, marketers that utilize social media as a marketing platform should carefully analyse
peer communication by monitoring changes in customer behaviour patterns, treat negative peer
communication with care and audit it to minimize additional damage to the brand and product.

Manel H.,2018 conducted study to investigate the antecedents of advertising value and their
effects on consumer attitudes and behaviour. In the context of tourism advertising on
Facebook's social media site, a conceptual model was proposed and practically evaluated.
According to the conclusions of the study, valuable Facebook advertising for a tourism product
or service should be rich-informative, reputable, and amusing. It also demonstrated a favourable
attitude toward this commercial, which leads to positive consumer responses, particularly when
the company/advertiser has a good corporate reputation.

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THEORY

We compared the efficacy of both online and offline ads in our study, rather than focusing on
just one, as most studies do. We divided the advertisements into four groups: online display
advertising, paid search advertising, traditional advertising, and word-of-mouth advertising. Paid
search and online display ads are considered separate independent variables since paid search
ads appear when someone searches for them, whereas online display ads are targeted at
specific groups of people based on their search history or other relevant data (Bayer,
Srinivasanb, J. Riedl, Skiera, 2018, Smith et al., 2016, Jie Zhang and Michel Wedel, 2009,
Avi Goldfarb and Catherine Tucker, 2011). Contextual advertisements on search engine
results pages, banner ads, Rich Media Ads, Social Network Ads, Online Classified Ads, Ad
Networks, and e-mail marketing are all examples of online advertising. The response to brand
communication is immediate, and the rate of conversion to business is strong. This is because,
unlike traditional interruptive advertising, the viewer has chosen to watch the advertisement.
Consumer buying behaviour refers to a person's attitudes, preferences, intentions, and
decisions when buying a product or service at a store. Consumer behaviour is studied by
researchers, organisations, and marketers to learn what factors impact a customer's buying
habits and product choices. (Martnek, 2021; Ahlluwalia and Singh, 2020; Zhang et al., 2010;
Milakovic et al., 2020; Dhore, Godbole).

People promote products/services to their friends not just because of the commercials they see,
but also because of their experience with the product/service they utilised as a result of viewing
the advertisement. The study of WOM on the Internet has the potential to add to the field's
knowledge and understanding in a number of ways. We can establish a demonstrable
correlation between observed WOM client acquisition thanks to electronic tracking of WOM,
member sign-ups. This is encouraging in terms of quantifying WOM effects and incorporating
marketing strategy. (Trusov et al., 2009; Esteves, Resende, 2018; Bayer, Srinivasanb, J.
Riedl, Skiera, 2018; Ozcelik & Varnali, 2019); E. Aguirre et al., 2015; Goldfarb, 2014).

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We'll determine the respondents' brand perceptions based on advertisements they view on
various channels. This will then be utilised to determine the impact of brand perception on a
company's sales in relation to the advertisements that are shown.

H0a: Online display advertising has no effect on brand perception

H1a: Online display advertising has an effect on brand perception

H0b: Paid search advertising has no effect on brand perception

H1b: Paid search advertising has an effect on brand perception

H0c: Conventional advertising has no effect on brand perception

H1c: Conventional advertising has an effect on brand perception

People suggest products/services to their friends not just based on the commercials
they see, but also on their experience with the product/service they utilised as a result of
viewing the ad. The study of WOM in an Internet context has the potential to add to the
field's knowledge and understanding in various ways. We can create a demonstrable
relationship between observable WOM client acquisition and computerised tracking of
WOM, member sign-ups. This bodes well for calculating WOM impacts and including
marketing strategy. (Trusov et al., 2009; Esteves, Resende, 2018; Bayer,
Srinivasanb, J. Riedl, Skiera, 2018; Ozcelik & Varnali, 2019; E. Aguirre et al., 2015;
Goldfarb, 2014).

H0d: Word of mouth advertising has no effect on brand perception

H1d: Word of mouth advertising has an effect on brand perception

We'll determine the respondents' brand perceptions based on advertisements they view
on various channels. This will then be utilised to determine the impact of brand
perception on a company's sales in relation to the advertisements that are shown.

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CONCEPTUAL DIAGRAM

In our model, our plan is to do a hypothesis testing of the impact of different types of advertising
on the two dependent Variables -

 Purchase Intention, as would be mentioned in the survey and from sales figures of the
brand that transitioned their advertising from one channel to another
 Consumer preference

 This would be identified by noticing changes in Independent variables

 Online Display advertising

 Conventional advertising
 Word of mouth
 e-Word of mouth advertising

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 Paid search advertising each of which would affect consumer perception(mediator) and
ultimately our dependent variables

METHODOLOGY

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People of all ages and professions who are active consumers and shoppers who also purchase
on the internet are the target demographic for our study. We gathered information from 120
people aged 20 and above with a variety of occupations via a questionnaire, and after filtering,
we chose 101 items. For the gathering of our data, we employed basic random sampling in
conjunction with probabilistic sampling. In the figure, you can see a summary of demographics.

<<<<<<<ENTER DATA ABOUT TESTS>>>>>

CONCLUSION

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In the contemporary business environment of ever-increasing media channels but static

advertising budgets, firms must be able to measure advertising effectiveness. Many businesses
have shifted their advertising expenditure toward digital media, but multiple studies show
traditional media remain effective. Whilst the likes of press, TV, radio, and print may have
audience demographics that watch specific shows or read certain titles, above the line
advertising is more about mass reach. Targeted digital display advertising is exactly the
opposite. It is targeted to reach a precise demographic of users on a more tailored and
personalized level. You also have numerous options to reach different audiences, whether
through demographic targeting, keyword targeting, contextual targeting, Geotargeting or
Retargeting. Traditional advertising strategies may be a fantastic alternative for your
organization if you have a limited marketing budget and want to reach a local audience.
Targeted advertising, on the other hand, is the way to go if you want to maximize your ROI,
track your campaign effectiveness, and utilize advanced targeting tools to reach your ideal
clients. Targeted advertising allows you to develop customized ads that appeal to your target
demographic, resulting in increased sales and revenue for your business. Furthermore, tailored
advertising simplifies ad administration, saving you time and money in the long term.

IMPLICATIONS

Academic implications

The findings of this study might help students who want to pursue a profession in marketing and
will be choosing marketing strategies for businesses in the future. This research will provide
them with a clear understanding of how a firm should split its marketing budget for various sorts
of advertising based on their success, as well as which marketing approach should be used for
certain circumstances and demographics. Consequently, they will be able to create good client
interaction through the right use of various forms of marketing.

Industrial implications

The findings of this study will aid marketing managers and financial analysts in determining how
much should be spent on each sort of advertisement based on its impact on brand perception
and sales. According to research, increasing the budget for internet advertisements by 1%
boosts sales by 0.23 percent, whereas increasing the budget for offline ads by 1% increases
sales by 0.10 percent. These findings represent the success of both online and offline
advertisements, and managers may use them to plan their future marketing initiatives.

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FUTURE SCOPE

This research contains several flaws. To begin with, our sample may not be representative of
the whole population served by a firm. Because most of the replies come from students
between the ages of 20 and 35, our study may be skewed. Second, we examined a broad
questionnaire that included a wide range of items and services. Different sorts of ads may have
an impact on the sales of various items and services. Finally, our research does not examine
how the rural population views these advertisements.

Future study should be conducted with the foregoing restrictions in mind. Research can be done
to assess a company's advertising efforts in a certain industry. The focus might be on how
businesses use numerous channels to market and sell their products, as well as how their
approach changes when dealing with rural customers. Online ads may also be broken down into
mobile ads, social media ads (on multiple platforms), and so on.

QUESTIONNAIRE

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REFERENCES

1. Castillo-Abdul B., Bonilla-Del-río M., Núñez-Barriopedro E., Influence and relationship between
branded content and the social media consumer interactions of the luxury fashion brand manolo
blahnik (2021), Information Systems Research, 9, Art. No. 10, pp. 1-15

2. Djafarova E., Bowes T., ‘Instagram made Me buy it’: Generation Z impulse purchases in fashion
industry, (2021), Journal of Retailing and Consumer Services, 59, Art. No. 102345

3. Tran T.P., Muldrow A., Ho K.N.B., Understanding drivers of brand love - the role of personalized
ads on social media, (2021), Journal of Consumer Marketing, 38, Issue 1, pp. 1-14
4. Fogel J., Ustoyev S., Social media advertisements with deposit contracts and fitness club/gym
membership: are consumers persuaded?, (2021), Journal of Consumer Marketing, 38, Issue 1,
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5. Kaur K., Kumar P., Social media usage in Indian beauty and wellness industry: a qualitative
study, (2021), TQM Journal, 33, Issue 1, pp. 17-32

6. Pallant J.I., Pallant J.L., Sands S.J., Ferraro C.R., Afifi E., When and how consumers are willing
to exchange data with retailers: An exploratory segmentation, (2022), Journal of Retailing and
Consumer Services, 64, Art. No. 102774

7. Wang Z., Social media brand posts and customer engagement, (2021), Journal of Brand
Management, 28, pp. 685-699

8. Pittman M., Abell A., More Trust in Fewer Followers: Diverging Effects of Popularity Metrics and
Green Orientation Social Media Influencers, (2021), Journal of Interactive Marketing, 56, pp. 70-
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9. Cheng M., Liu J., Qi J., Wan F. Differential effects of firm generated content on consumer digital
engagement and firm performance: An outside-in perspective, (2021), Industrial Marketing
Management, 98, pp. 41-58

10. Dwivedi Y.K., Ismagilova E., Hughes D.L., Carlson J., Filieri R., Jacobson J., Jain V., Karjaluoto
H., Kefi H., Krishen A.S., Kumar V., Rahman M.M., Raman R., Rauschnabel P.A., Rowley J.,
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11. Timo S., Alexandra R., Daniel B., 2019. Multichannel personalization: Identifying consumer
preferences for product recommendations in advertisements across different media channels,
Journal of retailing and consumer services, Volume 48, Pages 87 – 99, May 2019

12. Chiara V., Stefania R. and Grazia M., and Marta P., 2018. Digital visual engagement: influencing
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13. Ali A. A., 2018. Investigating the impact of social media advertising features on customer
purchase intention. International Journal of Information Management, Volume 42, Pages 65 – 77,
October 2018

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14. Xuebing D., Hongbo L., 2018. DOES ONLINE MEDIA SEQUENCE MATTER IN PRODUCT
MARKETING? Electronic Commerce Research and Applications, Volume 28, Pages 44 – 53,
March 2018

15. Rajendra S. and Manoj K. D. Social media marketing impact on the purchase intention of
millennials. Ashutosh P., 2018. International Journal of Business Information Systems, Volume
28, Issue 2, Pages 147 – 162, 2018

16. Manel H.,2018. Understanding social media advertising effect on consumers’ responses: an
empirical investigation of tourism advertising on Facebook. Journal of Enterprise Information
Management, Volume 31, Issue 3, Pages 426 – 445, 2018

17. Hisashi Masuda, Spring H. Han, and Jungwoo Lee, 2021. Impacts of influencer attributes on
purchase intentions in social media influencer marketing: Mediating roles of characterizations,
vol. 174, art. 121246

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