Chapter_7_stud Consumer Marketing.ppt

Communications within Groups and Opinion Leadership Marketing Strategy, WOM, and Opinion Leadership Numerous opportunities exist for retailers and sales personnel to use opinion leadership. Retailers and sales personnel can encourage their current customers to pass along information to potential new customers. Communications within Groups and Opinion Leadership Marketing Strategy, WOM, and Opinion Leadership Buzz can be defined as the exponential expansion of WOM. It happens when “word spreads like wildfire” with no or limited mass media advertising supporting it. Creating buzz is a key aspect of guerrilla marketing. Communications within Groups and Opinion Leadership Online Strategies to Leverage Buzz and WOM Viral marketing is an online “pass-it-along” strategy, utilizing electronic communication to trigger brand messages (often via email) throughout a widespread network of buyers.” Online Guides are online opinion leaders, who are often highly knowledgeable and passionate experts, providing consumer information and advice. Blogs are personalized journals where people and organizations can keep a running dialogue. Diffusion of Innovations An innovation is an idea, practice, or product perceived to be new by the relevant individual or group. The manner by which a new product spreads through a market is basically a group phenomenon. New products can be placed on a continuum from no change to radical change, depending on the market’s perception. Diffusion of Innovations Categories of Innovations Continuous Innovation Adoption of this type of innovation requires relatively minor changes in behavior(s) that are unimportant to the consumer. Dynamically continuous Innovation Adoption of this type of innovation requires a moderate change in an important behavior or a major change in a behavior of low or moderate importance to the individual. Discontinuous Innovation Adoption of this type of innovation requires major changes in behavior of significant importance to th