“Markets today are changing fast. Price-sensitive customers, new competitors, new distribution channels, new communication channels, the Internet, wireless commerce, globalization, deregulation, privatization… the list goes on. And it is not only markets that are changing, but the technologies that support them: e-commerce, e-mail, mobile phones, fax machines, sales and marketing automation, cable TV, videoconferencing. It is imperative that companies think through the revolutionary impact of these new technologies.”
The above quotation illustrates two essential considerations for marketers operating in the 21st century. Firstly, it emphasises that in today’s marketing world the way companies communicate with their customers as well as how customers interact with each other have changed significantly. Secondly, it points to a key implication of these changes – the necessity for companies to find innovative ways of embracing these new technologies and of dealing with the changes in a manner that supports their corporate objectives.
These revolutionary changes are due first and foremost to the advent of the Internet. Following the initial stages of its development, in which it generated exuberant excitement and exaggerated expectations among companies and consumers alike, it has evolved into an important distribution and communication channel for a large number of companies. Great significance now attaches to the Internet as an integral part of many companies’ promotional activities. At the same time consumers have become savvier in the use of the Internet; they appreciate that having more information at their fingertips puts them in a significantly better purchasing position: “Buyers today can compare prices and product attributes in a matter of seconds. They are only a click away from comparing competitors’ prices and can even name the price they want to pay for a hotel room, airline ticket or a mortgage and see whether any willing suppliers respond. Furthermore they can enter a chat room about an area of common interest and exchange information and opinions.”
Table of Contents
- INTRODUCTION
- 1 FUNDAMENTALS OF VIRAL MARKETING
- 1.1 Origins
- 1.2 Characteristics and definitions
- 1.3 Redefining viral marketing
- 1.4 Types of viral marketing
- 1.4.1 Frictionless/Low-integration
- 1.4.2 Active/High-integration
- 1.5 Objectives
- 2 KEY ELEMENTS OF COMMUNICATION
- 2.1 Word of mouth
- 2.1.1 Strong and weak ties
- 2.1.2 Communication flow in social networks
- 2.1.3 Opinion leadership
- 2.2 Word of mouse
- 2.3 Cross-cluster communication
- 3 CRITICAL ISSUES IN VIRAL MARKETING
- 3.1 Research and targeting
- 3.1.1 The message
- 3.1.2 The first-tier recipients
- 3.2 The viral element
- 3.2.1 Benefits
- 3.2.2 Viral hosts
- 3.2.2.1 E-mail
- 3.2.2.2 Website
- 3.2.2.3 Mobile phone and PDA
- 3.2.3 Viral incentives
- 3.2.3.1 Laughing
- 3.2.3.2 Greeting
- 3.2.3.3 Playing
- 3.2.3.4 Thrilling
- 3.2.3.5 Rewarding
- 3.3 Forwarding
- 3.4 Speed and simplicity
- 3.5 Methods of measuring success
- 3.6 Summary: critical success factors
- 4 VIRAL MARKETING IN CONTEXT
- 4.1 Opportunities for integration
- 4.1.1 The clutter problem
- 4.1.2 The permission approach
- 4.1.3 Viral marketing and permission marketing
- 4.1.4 Further integration
- 4.2 Suitability
- 4.3 Threats
- 4.3.1 Infected attachments
- 4.3.2 Spamming
- 4.3.3 Control
- 4.3.4 Viral clutter
- 4.3.5 Privacy
- CONCLUSION
Objectives and Key Themes
This diploma thesis aims to provide a comprehensive overview of viral marketing and its potential as a critical new dimension in 21st-century marketing. It examines the origins, characteristics, and types of viral marketing, explores its key elements of communication, and discusses critical issues involved in its implementation and success. Additionally, it analyzes the context of viral marketing within the broader marketing landscape, highlighting its opportunities and threats.
- Origins and evolution of viral marketing
- Key elements of viral communication, including word of mouth and word of mouse
- Critical issues in viral marketing, such as research, targeting, viral elements, and forwarding
- Opportunities for integration and suitability of viral marketing within different contexts
- Threats and challenges associated with viral marketing
Chapter Summaries
The first chapter provides a comprehensive introduction to the concept of viral marketing. It explores its origins, characteristics, and definitions, while also outlining its distinct types and objectives. It then delves into the key elements of viral communication, including the role of word of mouth, word of mouse, and cross-cluster communication. The chapter further explores the critical issues surrounding viral marketing, examining the importance of research and targeting, the viral element, forwarding, speed and simplicity, and methods of measuring success. Finally, it identifies critical success factors for effective viral marketing campaigns.
Chapter two further explores the context of viral marketing, highlighting its opportunities and threats. It analyzes the potential for integration with other marketing strategies, examining the issues of clutter, permission marketing, and further integration. The chapter also discusses the suitability of viral marketing for different products and services, while examining the threats associated with infected attachments, spamming, control, viral clutter, and privacy.
Keywords
Viral marketing, word of mouth, word of mouse, cross-cluster communication, online marketing, social media marketing, customer communication, permission marketing, guerrilla marketing, marketing strategies, opportunities, threats, infected attachments, spamming, privacy, clutter.
- Arbeit zitieren
- Michael Bryce (Autor:in), 2004, Viral Marketing - A crucial new dimension in 21st century marketing?, München, GRIN Verlag, https://www.grin.com/document/32486
