Brand Awareness via Online Media: An Evidence Using Instagram Medium with Statistical Analysis.

Area of Science:

• Business Analytics
• Statistical Modeling
• Computational Statistics

Background:

• Online marketing leverages digital platforms to promote brands and expand market reach.
• Instagram is a prominent social media platform with significant marketing potential.
• Assessing the impact of social media marketing on sales requires robust statistical analysis.

Purpose of the Study:

• To evaluate the effectiveness of Instagram as a marketing medium for product sales.
• To introduce and analyze a novel statistical distribution for modeling marketing data.
• To compare the performance of the new distribution against existing models.

Main Methods:

• Linear regression modeling was employed to analyze the relationship between Instagram marketing and sales.
• Statistical tests were conducted to ascertain the significance of Instagram as a marketing tool.
• A new generalized inverse Weibull distribution was developed and its mathematical properties derived.

Main Results:

• Instagram marketing was found to have a significant impact on sales.
• The newly proposed generalized inverse Weibull distribution demonstrated superior performance in analyzing business data.
• The new distribution effectively captured the heavy-tailed characteristics prevalent in marketing datasets.

Conclusions:

• Instagram is a viable and effective marketing channel.
• The new generalized inverse Weibull distribution offers a powerful tool for analyzing complex business, finance, and management data.
• The developed statistical model provides enhanced insights into marketing performance.