The increasing competition has forced every seller in the market to reconsider their views on customers. Gone are the days when customers were simple and attracting them to the firm was child’s play. Read more »
Viral marketing, another concept that evolved in the 1990s, finds its roots in the Internet. Ebook calls viral marketing “an old idea made new again by the Internet”. Similarly, Blanchard (2006) calls viral marketing “buzz marketing in its digital form”. Read more »
One of the intriguing aspects of pricing is that buyers are likely to use price as an indicator of both service costs and service quality—price is at once an attraction variable and a repellent. Read more »
The following are tools a company can use to accelerate word-of-mouth.
The use of influential people
New products often spread among the public through interpersonal communication networks.
Within those networks, some people have more influence than others. A company can use those influential people to accelerate the adoption of its product and spread the word-of-mouth (Rosen 2000, p. 43). Read more »