By Panos Mourdoukoutas
Why are word-of-mouth campaigns powerful for a few items, whereas failing for others? Which staff of customers might be the objective of viral advertising and marketing efforts, and the way are you able to flip note of mouth into buzz? Panos Mourdoukoutas and George J Siomkos give you the answers!
The transformation of a hope for a product into an "epidemic" was once, is and may continually be the dream of every and each marketer. For a few retailers this dream turns into truth. For others it is still easily a myth. "The Seven rules of WOM and Buzz advertising" bargains the basic instruments – seven basic steps – to release an efficient WOM and buzz crusade that is helping items to move the tipping element and to arrive the mass market:
Begin with the consumers
Target the fitting group
Create the correct message
Find the correct environment
Read Online or Download The Seven Principles of WOM and Buzz Marketing: Crossing the Tipping Point PDF
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Extra info for The Seven Principles of WOM and Buzz Marketing: Crossing the Tipping Point
They are people within target markets, who are always in search for something new and different that adds value to their lives; and are willing to take the risk for adopting it. Their stories underline the Third Principle of consumer epidemics: Select the market segments most interested in your product. Then, within each segment, target early adopters, people who tend to be opinion leaders in local reference groups – successful, well educated, somewhat younger than their peers, well socially integrated, willing to take a calculated risk on an innovation but who are concerned with failure.
Each group has its own distinct characteristics that make it more or less susceptible to “mass seduction” product campaigns. Innovators. They are usually the young and restless, the better educated, venture-type, the risk-lovers, the most mobile and uneasy consumer group, always in discontent with their environment, always in search for something new, something different to excite their lives. Innovators are consumer leaders, informed about new trends as featured in mass media and industry publications.
Moore (1991). 19 The majority of the information in this section is derived from Moore (1991). 18 4 Principle 3: Target the Right Group 37 Marketing Early Adopters Early Adopters Early Adopters Target Market A Target Market B Target Market C Fig. 20 For i-Pod, early adopters are teens of ages 12–17, coming from wealthy families. For Red Bull, early adopters are people of ages 17–24. 21 Marketing experts further argue that since earlier purchasers of an innovation differ from later purchasers of the same innovation, firms should adopt a “moving target market” approach.