Management and Organizational Studies 1021A/B Chapter Notes - Chapter 16: Viral Marketing, Disposable And Discretionary Income, Marketing Buzz

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 1021A/B
• Professor: Bob Larose

Document Summary

Mar 16 | mos1021b | consumer behavior (part 2) Opinion leaders= individuals who have social influence over others. More likely to be important for products that provide a for of self-expression (cid:523)e. g. automobiles, clothing and club membership(cid:524) Word of mouth= ppl influencing each other in personal conversations. The most powerful info source for consumers involves friends/family who are viewed as trustworthy. Ways of overcoming negative wom: supply factual info, provide toll-free #s for consumers to call the company, give appropriate product demonstrations. Buzz marketing= a brand becoming popular as a result of ppl talking about it to friends and neighbors. To create buzz a company can also hire a wom agency which specializes in product seeding= hiring ppl to talk up a brand to others. The wom marketing association (cid:523)womma(cid:524) issued ethical guidelines on product seeding. Brand reps must always disclose their relationship to the brand when promoting to ppl.