Influence Marketing and Its Impact on Consumer Purchase Intention: An Analytical Study
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Abstract
In contemporary business milieu, corporations have increasingly adopted influence marketing as a favoured strategy to publicize their merchandise and amenities. Through collaborations with social media personas, who command a substantial fan base, enterprises can inculcate brand consciousness and establish confidence in consumers. This inquiry strives to scrutinize the ramifications of influence marketing on the inclination of consumers to procure a commodity. By subjecting an exhaustive review of literature to examination, the study discloses that influence marketing can significantly and constructively affect the consumer's inclination to purchase via instilling brand awareness, fostering confidence, and providing social confirmation. In the contemporary context, Instagram and YouTube have arisen as the most preferable social media channels for influence marketing. The paramount reason behind this is the enormous outreach and substantial engagement of their influencers. Furthermore, as per the investigation, the effectiveness of influence marketing is subject to a myriad of factors, such as the type of product or service being promoted, the degree of pertinence of the influencer with the target audience, and the degree of genuineness and clarity within the alliance. Nevertheless, the efficiency of influence marketing is influenced by various factors, including the category of commodity or amenity being advertised, the relevance of the influencer with the intended audience, and the degree of authenticity and lucidity within the collaboration.