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Marketers place significant value on positive word-of-mouth, which is traditionally achieved by creating products, services and customer experiences that generate conversation-worthy "buzz" naturally.<ref>[http://www.marketing-made-simple.com/articles/word-of-mouth-advertising.htm Word of mouth advertising: Marketing-made-simple.com]</ref> The relatively new practice of word of mouth marketing attempts to inject positive "buzz" into conversations directly. While marketers have always hoped to achieve positive word-of-mouth, intentional marketing relying on such techniques is subject to regulation in some jurisdictions. For example, in the United States, deliberate efforts to generate beneficial consumer conversations must be transparent and honestly conducted in order to meet the requirements of Section 5 of the [[Federal Trade Commission]] Act that prohibits "unfair or deceptive acts or practices."<ref>[http://www.ftc.gov/opp/gpra/append1.shtm#N_1_ Laws Enforced by the Federal Trade Commission]</ref> To help marketers understand the difference between legitimate and unfair practices, a number of professional organizations have put forward recommendations for ethical conduct.<ref>[http://www.womma.org/ethics/code/read/ Word of Mouth Marketing Association Ethics Code]</ref><ref>[http://wwww.marketingpower.com/content1943490.php American Marketing Association Best Practices for Word of Mouth Communications]</ref> |
Marketers place significant value on positive word-of-mouth, which is traditionally achieved by creating products, services and customer experiences that generate conversation-worthy "buzz" naturally.<ref>[http://www.marketing-made-simple.com/articles/word-of-mouth-advertising.htm Word of mouth advertising: Marketing-made-simple.com]</ref> The relatively new practice of word of mouth marketing attempts to inject positive "buzz" into conversations directly. While marketers have always hoped to achieve positive word-of-mouth, intentional marketing relying on such techniques is subject to regulation in some jurisdictions. For example, in the United States, deliberate efforts to generate beneficial consumer conversations must be transparent and honestly conducted in order to meet the requirements of Section 5 of the [[Federal Trade Commission]] Act that prohibits "unfair or deceptive acts or practices."<ref>[http://www.ftc.gov/opp/gpra/append1.shtm#N_1_ Laws Enforced by the Federal Trade Commission]</ref> To help marketers understand the difference between legitimate and unfair practices, a number of professional organizations have put forward recommendations for ethical conduct.<ref>[http://www.womma.org/ethics/code/read/ Word of Mouth Marketing Association Ethics Code]</ref><ref>[http://wwww.marketingpower.com/content1943490.php American Marketing Association Best Practices for Word of Mouth Communications]</ref> |
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'''Word of mouth''' is one of the most traditionally effective ways of spreading news about one's business to leverage the power of social networking through consumer recommendations. |
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== Merits == |
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1. '''Effective Recommendations''' - One of the major advantage of '''Word of Mouth''' advertising is the inherent power of peer recommendation as the audiences are conditioned to trust the recommendations from friends and family. As this advertising strategy depends entirely on loyal customers, it brings pressure on Company side to keep their customers happy and satisfied. |
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2. '''Economical''' - This holds as one of the cheapest modes of Advertising as this involves direct spreading of review from the Customer end. The cost effectiveness method requires no out-of-pocket expense. |
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== Demerits == |
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1. '''Limited Audience''' - The number of potential clients remain limited as they share their experiences with their peer which again revolves in the circle and so the circle remains limited. |
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2. '''Negative Feedback''' - The bitter truth when a Customer's satisfaction levels do not reach the expected mark and when they start sharing their negative feed-backs which affects the business adversely. |
|||
3. '''Untraceable Results''' - This virtual method of Marketing cannot be tracked like those of open click rates etc. The publicity cannot monitor under the screen as the estimation becomes difficult. |
|||
The various other unethical practices which contribute to the disadvantage of this methodology would be '''Stealth Marketing''' – where the consumer is not aware that they are being marketed to. Second is '''False Information''' – where knowingly people are misled. |
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==See also== |
==See also== |
Revision as of 18:56, 20 September 2012
Word of mouth, or viva voce,[1] is the passing of information from person to person by oral communication, which could be as simple as telling someone the time of day. Storytelling is a common form of word-of-mouth communication where one person tells others a story about a real event or something made up.[2] Oral tradition is cultural material and traditions transmitted by word of mouth through successive generations. Storytelling and oral tradition are forms of word of mouth that play important roles in folklore and mythology. Another example of oral communication is oral history — the recording, preservation and interpretation of historical information, based on the personal experiences and opinions of the speaker. Oral history preservation is the field that deals with the care and upkeep of oral history materials collected by word of mouth, whatever format they may be in. An important area of marketing is called word-of-mouth marketing, which relies on the added credibility of person-to-person communication, a personal recommendation.[3]
Storytelling
Storytelling often involves improvisation or embellishment. Stories or narratives have been shared in every culture as a means of entertainment, education, cultural preservation and in order to instill moral values.
The earliest forms of storytelling were thought to have been primarily oral combined with gesture storytelling for many of the ancient cultures. The Australian Aboriginal people painted symbols from stories on cave walls as a means of helping the storyteller remember the story. The story was then told using a combination of oral narrative, music, rock art and dance.
Traditionally, oral stories were committed to memory and then passed from generation to generation. However, in literate societies, written and televised media have largely replaced this method of communicating local, family and cultural histories. Oral storytelling remains the dominant medium of learning in some countries with low literacy rates.
Oral tradition
Oral tradition (sometimes referred to as "oral culture" or "oral lore") is cultural material and traditions transmitted orally from one generation to another.[4][5] The messages or testimony are verbally transmitted in speech or song and may take the form, for example, of folktales, sayings, ballads, songs, or chants. In this way, it is possible for a society to transmit oral history, oral literature, oral law and other knowledges across generations without a writing system.
Sociologists emphasize a requirement that the material is held in common by a group of people, over several generations, and thus distinguish oral tradition from testimony or oral history.[6] In a general sense, "oral tradition" refers to the transmission of cultural material through vocal utterance, and was long held to be a key descriptor of folklore (a criterion no longer rigidly held by all folklorists).[7] As an academic discipline, it refers both to a set of objects of study and a method by which they are studied[8] -- the method may be called variously "oral traditional theory," "the theory of Oral-Formulaic Composition" and the "Parry-Lord theory" (after two of its founders). The study of oral tradition is distinct from the academic discipline of oral history,[9] which is the recording of personal memories and histories of those who experienced historical eras or events.[10] It is also distinct from the study of orality, which can be defined as thought and its verbal expression in societies where the technologies of literacy (especially writing and print) are unfamiliar to most of the population.[11]
Oral history
Oral history is the recording of personal memories and histories of those who experienced historical eras or events.[10] Oral history is a method of historical documentation, using interviews with living survivors of the time being investigated. Oral history often touches on topics scarcely touched on by written documents, and by doing so, fills in the gaps of records that make up early historical documents. Oral history preservation is the field that deals with the care and upkeep of oral history materials, whatever format they may be in.[12]
Word-of-mouth marketing
Word-of-mouth marketing, which encompasses a variety of subcategories, including buzz, blog, viral, grassroots, brand advocates, cause influencers and social media marketing, as well as ambassador programs, work with consumer-generated media and more, can be highly valued by product, social media and performance marketers. Because of the personal nature of the communications between individuals, it is believed that they are more credible. Research points to individuals being more inclined to believe WOMM than more formal forms of promotion methods; the listener tends to believe that the communicator is being honest and doesn't have an ulterior motive (i.e. they are not being paid for their referrals).[13] Word-of-mouth depends on the extent of customer satisfaction with the product or service,[14] and on the degree of its perceived value.[15]
To promote and manage word-of-mouth communications, marketers use publicity techniques as well as viral marketing methods to achieve desired behavioral response. Companies can focus on brand advocates, the people who proactively recommend their favorite brands and products online and offline without being paid to do so.[16] Influencer marketing is also increasingly used to seed WOMM by targeting key individuals who have authority and many personal connections.
Marketers place significant value on positive word-of-mouth, which is traditionally achieved by creating products, services and customer experiences that generate conversation-worthy "buzz" naturally.[17] The relatively new practice of word of mouth marketing attempts to inject positive "buzz" into conversations directly. While marketers have always hoped to achieve positive word-of-mouth, intentional marketing relying on such techniques is subject to regulation in some jurisdictions. For example, in the United States, deliberate efforts to generate beneficial consumer conversations must be transparent and honestly conducted in order to meet the requirements of Section 5 of the Federal Trade Commission Act that prohibits "unfair or deceptive acts or practices."[18] To help marketers understand the difference between legitimate and unfair practices, a number of professional organizations have put forward recommendations for ethical conduct.[19][20]
Word of mouth is one of the most traditionally effective ways of spreading news about one's business to leverage the power of social networking through consumer recommendations.
Merits
1. Effective Recommendations - One of the major advantage of Word of Mouth advertising is the inherent power of peer recommendation as the audiences are conditioned to trust the recommendations from friends and family. As this advertising strategy depends entirely on loyal customers, it brings pressure on Company side to keep their customers happy and satisfied.
2. Economical - This holds as one of the cheapest modes of Advertising as this involves direct spreading of review from the Customer end. The cost effectiveness method requires no out-of-pocket expense.
Demerits
1. Limited Audience - The number of potential clients remain limited as they share their experiences with their peer which again revolves in the circle and so the circle remains limited.
2. Negative Feedback - The bitter truth when a Customer's satisfaction levels do not reach the expected mark and when they start sharing their negative feed-backs which affects the business adversely.
3. Untraceable Results - This virtual method of Marketing cannot be tracked like those of open click rates etc. The publicity cannot monitor under the screen as the estimation becomes difficult.
The various other unethical practices which contribute to the disadvantage of this methodology would be Stealth Marketing – where the consumer is not aware that they are being marketed to. Second is False Information – where knowingly people are misled.
See also
- Communication
- Oral communication
- Oral history
- Oral tradition
- Storytelling
- Word-of-mouth marketing
- Train of thought
- The Social IQ
- Klout
- PeerIndex
- Two-step flow of communication
References
- ^ http://www.thefreedictionary.com/by+word+of+mouth
- ^ http://42explore.com/story.htm
- ^ http://www.entrepreneur.com/encyclopedia/term/82660.html
- ^ Vansina, Jan: "Oral Tradition as History", 1985, James Currey Publishers, ISBN 0-85255-007-3, ISBN 978-0-85255-007-6; at page 27 and 28, where Vasina defines oral tradition as "verbal messages which are reported statements from the past beyond the present generation" which "specifies that the message must be oral statements spoken sung or called out on musical instruments only"; "There must be transmission by word of mouth over at least a generation". He points out that "Our definition is a working definition for the use of historians. Sociologists, linguists or scholars of the verbal arts propose their own, which in, e.g., sociology, stresses common knowledge. In linguistics, features that distinguish the language from common dialogue (linguists), and in the verbal arts features of form and content that define art (folklorists)."
- ^ Ki-Zerbo, Joseph: "Methodology and African Prehistory", 1990, UNESCO International Scientific Committee for the Drafting of a General History of Africa; James Currey Publishers, ISBN 0-85255-091-X, 9780852550915; see Ch. 7; "Oral tradition and its methodology" at pages 54-61; at page 54: "Oral tradition may be defined as being a testimony transmitted verbally from one generation to another. Its special characteristics are that it is verbal and the manner in which it is transmitted."
- ^ Henige, David. Oral, but Oral What? The Nomenclatures of Orality and Their Implications Oral Tradition, 3/1-2 (1988): 229-38. p 232; Henige cites Jan Vansina (1985). Oral tradition as history. Madison, WI: University of Wisconsin Press
- ^ Degh, Linda. American Folklore and the Mass Media. Bloomington:IUP, 1994, p. 31
- ^ Dundes, Alan, "Editor’s Introduction" to "The Theory of Oral Composition," John Miles Foley. Bloomington, IUP, 1988, pp. ix-xii
- ^ Henige, David. Oral, but Oral What? The Nomenclatures of Orality and Their Implications Oral Tradition, 3/1-2 (1988): 229-38. p 232; Henige cites Jan Vansina (1985). Oral tradition as history. Madison, WI: University of Wisconsin Press
- ^ a b Oral History
- ^ Ong, Walter, S.J., "Orality and Literacy: The Technologizing of the Word." London: Methuen, 1982 p 12
- ^ Keakopa, M. (1998). The role of the archivist in the collection and preservation of oral traditions. S.A. Archives Journal, 40,87-93.
- ^ Grewal, R., T.W. Cline, and A. Davies, 2003. Early-Entrant Advantage, Word-of-Mouth Communication, Brand Similarity, and the Consumer Decision-Making Process. Journal of Consumer Psychology, 13(3).
- ^ Stach, A. and A. Serenko, 2010. The Impact of Expectation Disconfirmation on Customer Loyalty and Recommendation Behavior: Investigating Online Travel and Tourism Services. Journal of Information Technology Management, XX(3), p. 26-41.
- ^ Turel, O., A. Serenko, and N. Bontis, 2010. User Acceptance of Hedonic Digital Artifacts: A Theory of Consumption Values Perspective. Information & Management, 47(1), p. 53-59.
- ^ http://www.reuters.com/article/2010/11/08/us-vcj-zuberance-idUSTRE6A731G20101108
- ^ Word of mouth advertising: Marketing-made-simple.com
- ^ Laws Enforced by the Federal Trade Commission
- ^ Word of Mouth Marketing Association Ethics Code
- ^ American Marketing Association Best Practices for Word of Mouth Communications