Short Notes

Topics: Marketing, Minimum wage, Word of mouth Pages: 7 (2321 words) Published: August 24, 2013
-Buzz marketing is a viral marketing technique that attempts to make each encounter with a consumer appear to be a unique, spontaneous personal exchange of information instead of a calculated marketing pitch choreographed by a professional advertiser. Historically, buzz marketing campaigns have been designed to be very theatrical in nature. The advertiser reveals information about the product or service to only a few "knowing" people in the target audience. By purposely seeking out on-on-one conversations with those who heavily influence their peers, buzz marketers create a sophisticated word-of- mouth campaign where consumers are flattered to be included in the elite group of those "in the know" and willingly spread the word to their friends and colleagues. Although buzz marketing is not new, Internet technology has changed the way it's being used. Buzz campaigns are now being initiated in chat rooms, where marketing representatives assume an identity appropriate to their target audience and pitch their product. Personal Web logs (blogs) are another popular media for electronic buzz marketing campaigns; advertisers seek out authors of the "right kind of blog" and trade product or currency for promotion. Instant messaging (IM) applications are also being looked at as a vehicle for carrying out buzz marketing campaigns with either humans or IM bots doing the pitching. As with all buzz campaigns, the power of the IM model relies on the influence an individual has in an established small network -- in this case, his buddy list. As technology continues to facilitate the delivery of a electronic buzz marketing message easier, and software applications make message deliveries easier to quantify, some advertising experts predict that electronic buzz marketing techniques will become a standard component in all cross-media advertising campaigns. Others warn that abuse of this potentially powerful electronic marketing technique will be its downfall. WORD OF MOUTH MARKETING

Word-of-mouth marketing is a term used in the marketing and advertising industry to describe activities that companies undertake to generate personal recommendations as well as referrals for brand names, products and services. Word-of-mouth promotion is highly valued by advertisers. It is believed that this form of communication has valuable source credibility. Research points to individuals being more inclined to believe word-of-mouth promotion than more formal forms of promotion methods because the receiver of word-of-mouth referrals may believe that the communicator is unlikely to have an ulterior motive (ie.: they are not receiving an incentive for their referrals.) Also people tend to believe people who they know. In order to promote and manage word-of-mouth communications, marketers use publicity techniques as well as viral marketing methods to achieve desired behavioral response. A very successful word-of-mouth promotion creates buzz. Buzz generates a highly intense and interactive form of word-of-mouth referral that occurs both online and offline. Successful word-of-mouth initiatives do not follow a strictly linear process with information flowing from one individual to another rather successful models leverage subgroup connectivity and relationships by pursuing a Reed's Law hub approach to message distribution. A marketer has successfully created buzz when the interactions are so intense that the information moves in a matrix pattern rather than a linear one. The result is everyone is talking about or purchase the product or service. Examples

Gmail - Google did no marketing, they spent no money. They created scarcity by giving out Gmail accounts only to a handful of "power users." Other users who aspired to be like these power users "lusted" for a Gmail account and this manifested itself in their bidding for Gmail invites on eBay. Demand was created by limited supply; the cachet of having a Gmail account caused the word of mouth,...
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