Upload
nirushan
View
326
Download
3
Tags:
Embed Size (px)
DESCRIPTION
Citation preview
Word of MouthIndividual PresentationK.Nirushan - MS 1087
© K.NirushanFaculty of Commerce & Management
Eastern University, Sri Lanka
Contents…
In this Presentation, you will learn to:
Explain What is Word of mouth
Explain Types of word of mouth
Describe importance of word of mouth
Word of mouth marketing
5T’s of word of mouth marketing
Determinants of word of mouth
New trends of word of mouth marketing
Conclusion
Word of Mouth
“Interpersonal communication between
individuals within networks that either
explicitly or subconsciously identify
preferences about brands, products or
services that may be either positive or
negative ”
WOM
Example : Benz
Example : Film Review
Word of Mouth
Positive Negative
ExampleWOM
Word of Mouth
Positive Negative
ExampleWOM
Importance of Word of Mouth
Importance of Positive Word of Mouth
Free of cost:Compare with advertisements word of mouth can take place without any charges. Because satisfied customer, non commercially try to say something about the product or company or brand themselves
Increase Good-will: With out any cost a positive word of mouth can increase a company’s good will. In service sector it is most important because services are intangible. Therefore based on the customers words people will decide the level of quality of a particular service.
Make New Customer:People, for their purchasing decision mostly trust on recommendation. If a person say some good things about a certain product, another person who relay on him may tend to buy that product.
Save time & Reduce wrong decision making:A reliable recommendation give more information to the consumer so the can make best purchasing decision.
4
3
2
1
Negative Word of Mouth
4
3
2
1
Destroying Company Image:More than the benefits of positive word of mouth, a negative word of mouth can give more disadvantages to the company.
Negative Word of Mouth
4
3
2
1
Destroying Company Image:More than the benefits of positive word of mouth, a negative word of mouth can give more disadvantages to the company.
Spread quickly:Dissatisfied customer tell to 11 people but satisfied customer share the positive word of mouth with only 4 people
Negative Word of Mouth
4
3
2
Destroying Company Image:More than the benefits of positive word of mouth, a negative word of mouth can give more disadvantages to the company.
Spread quickly:Dissatisfied customer tell to 11 people but satisfied customer share the positive word of mouth with only 4 people
Difficult to get back the market place : If any negative word of mouth spreaded people give up their trust on that particular company
Negative Word of Mouth
4
3
Destroying Company Image:More than the benefits of positive word of mouth, a negative word of mouth can give more disadvantages to the company.
Spread quickly:Dissatisfied customer tell to 11 people but satisfied customer share the positive word of mouth with only 4 people
Difficult to get back the market place : If any negative word of mouth spreaded people give up their trust on that particular company
Exaggerete by persons:Dissatisfied customer may build-up the negativeness more than perceived.
Negative Word of Mouth
Word of Mouth Marketing
(WOMM) “Giving people a reason to talk about your products and
services, and making it easier for that conversation to
take place. It is the art and science of building active,
mutually beneficial consumer-to-consumer and
consumer-to-marketer communications ”
Talkers
Topics Tools
Taking Part
Tracking
5T’s of Word of Mouth Marketing
Determinants of Word of Mouth
Quality
Satisfaction of the
customer depends
on the quality of
product.
Customer care
Best customer care
service make the
customer feel
comfort with the
organization
Willingness
Some people don’t
want to share
information with
others
New Trends of Word of Mouth Marketing
Marketing Buzz
Marketing buzz is the interaction of consumers and users of a product or service which serves to amplify the original marketing message. Buzz marketing involves cultivating opinion leaders and getting them to spread information about your product or service to others in their communities. Positive buzz is often a goal of viral marketing, public relations, and of advertising on Web 2.0 media
New Trends of Word of Mouth Marketing
Cause Marketing
Cause or 'Charity' marketing is when you support social causes to earn respect and support from people who feel strongly about the cause. So they will spread good word of mouth and be a part of your company
New Trends of Word of Mouth Marketing
Blog marketing
Web 2.0 facilitates the internet users to have their own blogs. It is look like a simple web site. Through the blogs customer can share their words. Mostly customer talks about the products and brands on the blogs. Anyone can leave a comment on the blog.
www.nirushan.blogspot.com
New Trends of Word of Mouth Marketing
Social media marketing
By using the social media networks people share information about products, company and brands. A social media network is generally a Web site that people visit frequently and consistently to connect with people that they wouldn't normally connect with
Real Examples For impact of Word of MouthCoca-Cola
Real Examples For impact of Word of MouthAnchor Fontera
Conclusion!!
“People influence people. Nothing influences people more than a recommendation from a trusted friend. A trusted referral influences people more than the best broadcast message. A trusted referral is the Holy Grail of advertising.” – Mark Zuckerberg
Video Example Link
I:\WOMMA defines WOMM
References:
• Megan Williams. WORD-OF-MOUTH : A Definition of Communication, 1-5
• Francis A. Buttle. Word of mouth: understanding and managing referral marketing, JOURNAL OF STRATEGIC MARKETING 6 241–254 (1998), 241-254
• http://searchcrm.techtarget.com/definition/buzz-marketing, Retrieved on 18.10.2013
Questions?