Abstract

Online marketing refers to the practices of promoting a company's brand to its potential customers. It helps the companies to find new venues and trade worldwide. Numerous online media such as Facebook, YouTube, Twitter, and Instagram are available for marketing to promote and sell a company's product. However, in this study, we use Instagram as a marketing medium to see its impact on sales. To carry out the computational process, the approach of linear regression modeling is adopted. Certain statistical tests are implemented to check the significance of Instagram as a marketing tool. Furthermore, a new statistical model, namely a new generalized inverse Weibull distribution, is introduced. This model is obtained using the inverse Weibull model with the new generalized family approach. Certain mathematical properties of the new generalized inverse Weibull model such as moments, order statistics, and incomplete moments are derived. A complete mathematical treatment of the heavy-tailed characteristics of the new generalized inverse Weibull distribution is also provided. Different estimation methods are discussed to obtain the estimators of the new model. Finally, the applicability of the new generalized inverse Weibull model is established via analyzing Instagram advertising data. The comparison of the new distribution is made with two other models. Based on seven analytical tools, it is observed that the new distribution is a better model to deal with data in the business, finance, and management sectors.

Highlights

  • Advertising means a way of business communication between the company/business firm and its present and prospective audience

  • Concluding Remarks is work explored the impact of online marketing on sales

  • Among the available online marketing media, a wellknown online medium called Instagram is considered. e data sets related to Instagram advertising and sales were studied and analyzed scientifically

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Summary

Research Article

Brand Awareness via Online Media: An Evidence Using Instagram Medium with Statistical Analysis. It helps the companies to find new venues and trade worldwide Numerous online media such as Facebook, YouTube, Twitter, and Instagram are available for marketing to promote and sell a company’s product. A new statistical model, namely a new generalized inverse Weibull distribution, is introduced. Is model is obtained using the inverse Weibull model with the new generalized family approach. Certain mathematical properties of the new generalized inverse Weibull model such as moments, order statistics, and incomplete moments are derived. A complete mathematical treatment of the heavy-tailed characteristics of the new generalized inverse Weibull distribution is provided. The applicability of the new generalized inverse Weibull model is established via analyzing Instagram advertising data. Based on seven analytical tools, it is observed that the new distribution is a better model to deal with data in the business, finance, and management sectors

Introduction
Computational Intelligence and Neuroscience
Standard error
Sales Sales
PP Plot
Full Text
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