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UNIVERSITY OF PYLYMOUTH- GSM LONDON
Word of Mouth Marketing
in a Digital World
Marketing, Planning & Promotion
14
CONTENT
I. INTRODUCTION
………….............................…………………………………………………………3
II. MARKETING COMMUNICATION & KEY
STAKEHOLDERS................................. 3
1. WHAT IS MARKETING
COMMUNICATION......................................................... 3
2. MARKETING COMMUNICATION
TOOLS........................................................... 4
2.1 ADVERTISING…………………………….................................. …………………..4
2.2 SALES PROMOTION…………………………………………………………........ ……..4
2.3 PERSONAL SELLING………………………………………………………................. 5
2.4 DIRECT MARKETING……………………….................................................. 5
2.5 PUBLIC RELATIONS........................................................................... 5
III. WORD OF
MOUTH…………………………………………………….................................. 5
1.
ELECTRONIC WORD OF MOUTH……………………………………………………..................6
2.
DIFFERENCES BETWEEM WOM &
EWOM…………………………….............................6
3. NEGATIVE WORD OF MOUTH.......................................................................... 7
IV. CONSUMER BEHAVIOUR & INFORMATION
TECHNOLOGY (AIDA)................ 8
1
AWARENESS……………………………………………………………................................8
2
INTEREST…………………………………………………………………..............................8
3
DESIRE…………………………………………………………………..................................8
4
ACTION………………………………………………………………….................................8
V. STAKEHOLDER MANAGEMENT & RELATIONSHIP
MARKETING.................... 9
1. LOYALTY LADDER………………………………………………………………………................ 9
1.1 Prospect.............................................................................................. 9
1.2 Customer............................................................................................ 9
1.3 Client................................................................................................. 9
1.4 Supporter........................................................................................... 9
1.5 Advocate............................................................................................ 9
1.6 Partner............................................................................................... 9
VI. CONCLUSION................................................................................................ 10
VII.
BIBLIOGRAPHY……………………………………………………………………………........... 11
2
Introduction
A couple of
decades ago, people used to listen to adverts on the radio; they used to listen
to sales people at their doorstep. The web has changed all of this. Nowadays
people have access to instant information. With the emergence of digital
technology, the marketing world has been entirely shaken to its core. We now
live in a society where consumers decide the prices and the power remains in
the hand of the consumers. They have the power to filter out all the marketing
noise. Consumers have the information they need wherever they are. They listen
to people they trust and what these people have to say about brands. The World
Wide Web has opened many sources for selling of their product providing
consumers’ unbelievable quantitative as well as qualitative information within
seconds at the click of their mouse. With this shift in power, there has been
significant amount of pressure in the dynamics of marketing. Using technology
as a tool, consumers are now ‘unforgiving’ and not afraid to publicize their
views on products. Wind,J; Mahajan,V (2002) This new realm of the digital
technology has consequently brought around many changes within the business
environment. There are now a set of new principles for marketing in a digital
age which are slowly trying to form an innovative discipline of marketing. A
distinctive characteristic of digital marketing is that virtual communities or
groups can be created for consumers who have similar interests. These virtual
communities have transformed the fundamentals of marketing. Marketing on these
communities are done through personal referrals and testimonies of consumers
which is beyond the control of an organization. This report is going to examine
the different marketing communication tools used and also evaluate the benefits
and disadvantages of word of mouth and electronic word of mouth. It will
further discuss how has consumer behaviour changed with the emergence of
information technology. Wind,J; Mahajan,V (2002)
MARKETING
COMMUNICATION & KEY STAKEHOLDERS
What is
Marketing Communication?
Marketing communication has been defined as “a
management process through which an organization engages with its various
audiences” Fill,C (2005)
Organizations should work in such an approach
that they first need to understand the way in which various stakeholders groups
like to be communicated with and then look to build up or converse back to
these stakeholders using those communication tools. If the stakeholders are
entertained with the response, a positive attitude is expected from them.
Therefore it can be said that marketing communications is about promoting both
the company and what the company has to offer. Marketing communication also
demonstrates the responsibility of an organization in process of marketing
consequently making an impact on the stakeholders’ minds. Organizations need to
work on their corporate strategy in such a way that it brings the message right
across and target the right group of stakeholder audiences. Organizations must
recognize the need for public relations the reason being the high reliability
of the messages spread by the public with comparatively low marketing costs
therefore leading to success of corporate strategy. Fill,C (2005)
3
Marketing
Communication Tools
Marketing communications is related mainly to the
‘promotion’ element. With this use of information technology, these marketing
tools are now used on a completely different level. Marketing communication
tools are broadly divided into five categories: