Word-of-mouth publicity is a centuries-old marketing technique. Once customers had a good experience with a product, they would tell their friends, who would often buy and use that product and then tell other friends – dispersing information and recommendations about the product via a social network. Mary Kay Cosmetics and Amway, brands that relied on social networks to inform potential customers about their products, used this technique with great success to build highly recognizable brands. Technology makes the spread of product knowledge from one person to another faster and more efficient. Today, digital media like the Internet are the new word of mouth networks, which act as easy, additional resources for people to spread the word. "The Net amplifies the power and accelerates the speed of feedback from users to potential adopters." "People have always relied on word-of-mouth to spread the news about products and services. The Internet just speeds things along. Word-of-mouth techniques are vital to marketing on the Internet. Consumers say the primary source of credibility that makes them visit a Web site is word-of-mouth referrals, usually an e-mail from a friend. Tim Draper, one of the founding investors for the free e-mail product Hotmail, and a partner with the venture firm Draper Fisher Jurvetson (www.dfj.com), coined the term "viral marketing" in 1997 when he first noticed similarities between the rapid adoption of products via word of mouth and the spread of biological viruses. Draper noted the viral phenomenon after Hotmail went from 0 to 12 million subscribers in just eighteen months, largely because the product included a linked advertisement link for their service at the bottom of every email and offered a compelling service. Viral marketing describes any strategy that encourages individuals to pass on a marketing message to others, creating the potential for exponential growth in the message's exposure and influence. On the Web, the technique has been called "word-of-modem," "word-of-mouse," "networked-enhanced word of mouth," "grass-roots marketing," and "a highly infectious digital sneeze." A virally-marketed product is often said to have "buzz."
[...] Part of the future of viral marketing may be new and creative permutations of "affiliate programs," in which persons explicitly include promotional materials for and links to a product in their e-mail messages or on their Web sites in exchange for something of value, usually financial incentives. "Stores pay out only for actual sales, but get their logos emblazoned on thousands of sites for free. By tossing in viral marketing, stores hope to have their names inscribed on millions of e-mail messages, too." Also, future viral marketers may hone their efforts to target e-fluentials, those influential persons who help shape the opinions and attitudes of the majority of persons. [...]
[...] An example: A viral marketing campaign for your online business website Use your free viral marketing resources first You already have marketing material and resources to start your viral marketing campaign today: First, you can use the power of every email you send by adding a signature (SIG) to them. A SIG is automatically is included in every email you send. Additionally, put your website on every piece of marketing material you use brochures, letterheads, and business cards. Then develop viral marketing products unique to your website . [...]
[...] A combination of promotional mix strategies are used at this stage aimed at the retailer including personal selling, and direct mail. The product is pushed onto the retailer, hence the name. A pull strategy is based around the manufacturer promoting their product amongst the target market to create demand. Consumers pull the product through the distribution channel forcing the wholesaler and retailer to stock it, hence the name pull strategy. Organizations tend to use both push and pull strategies to create demand from retailers and consumers. [...]
[...] How viral marketing enhancing the ingredients/elements of promotional mix How it could help companies to achieve the competitive advantage. METHOD OF DATA COLLECTION SECONDARY DATA Data collected through secondary sources, e.g. marketing books, journals ( 4Ps, Pitch etc.), various marketing web sites ( www.etstrategicmarketing .com. etc.), various international as well as Indian cases. RESEARCH INSTRUMENT Descriptive method used while studying this thesis. SCOPE OF THE STUDY Internet and TV commercial. CHAPTER- 3 DESCRIPTIVE WORK AND SUBTOPICS OF STUDY ELEMENTS OF MARKETING PROMOTIONAL MIX Your marketing plan will be executed by using the tactical elements of the Marketing Communications, or Promotions Mix. [...]
[...] VIRAL MARKETING A VALUE PROPOSITION FOR THE COMPANIES Value Proposition The value proposition of viral marketing is largely related to its use of existing digital networks, which are relatively inexpensive, fast, and easy to use, and often include a global audience. Fortune magazine calls viral marketing "inexpensive and potent." It is easy to target a viral message because they naturally circulate among persons with common behaviors or interests. The technique is valuable for both consumers and companies. Consumers get things they want, such as discounts, free products, or valuable information. [...]
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