...RECENT TRENDS IN VIRAL MARKETING *Ritu ABSTRACT 2010 looks to be the biggest year ever for online marketing. With more and more marketers demanding results-based advertising, it is no wonder viral marketing is becoming one of the fastest-growing trends. Nothing captures the essence of viral marketing better than the description of how a virus grows. It is uncanny in its ability to remain shrouded in secrecy till it wins by sheer weight of numbers. It piggybacks on other hosts, and grows by feeding on their resources, not its own. It doesn’t need to mate- it replicates itself. And with the right kind of environment, it can grow exponentially, as can be seen by the 1’s above. Viral Marketing, naturally, is something that draws upon these fundamental characteristics of a virus- exponential growth with minimum use of one’s own resources. It refers to any strategy that encourages individuals to pass on a ‘message’ to other individuals, who in turn pass it on to other people, and so on and so forth, thereby allowing for an exponential growth in the popularity and exposure of the message. This paper examines as to how viral marketing can make a brand name stand out from the competition and some strategies important to make viral marketing campaigns unique . The paper identifies trends that will increase the likelihood of a successful online viral marketing campaign and demonstrate how these strategies market. With a discussion on how the risks and rewards of a viral campaign differ...
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...Viral Marketing When Hotmail first launched in 1996, the company decided to try a new marketing strategy and included, at the bottom of every email its users sent, a clickable link to sign up for a Hotmail account. This simple scheme had the effect of turning every user of Hotmail into a salesperson for the product whenever they sent out an email. This tactic of turning customers of a product into promoters of a product is one of the defining traits of viral marketing and central to the unique nature of this marketing methodology. Due in large part to this strategy, Hotmail was able to grow from 0 to 12 million users in a mere 18 months with an advertising budget of only $50,000. During the same period, Juno, a direct competitor, spent $20 million in traditional advertising costs and had worse results (Jurvetson 2000). The Hotmail case is one of the earliest examples of viral marketing and definitively demonstrated its effectiveness. Viral marketing is defined as “network-enhanced word of mouth” (Jurvetson 2000). Specifically, viral marketing refers to the utilization of electronic word of mouth to transmit marketing materials in an exponentially growing manner, often through the usage of social media (Kaplan 3). The term viral was used because spreading a marketing message using this strategy mimics the exponential growth found in epidemics of pathogenic organisms such as viruses. For example, with a “fan out” rate of three, the first person exposed to a marketing...
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...Critique Paper: Why videos go viral Kevin Allocca is the trends manager at YouTube, this is a fancy title for someone, as he puts it “watches YouTube videos all day and gets paid to do it”. He claims that all successful videos meet one of three criteria mentioned in his TED talk. The purpose of this critique is to explain these points, evaluate them and then explain how Kevin’s video has influenced me with regards to social media marketing and how these points can be applied to marketing. The Big Three Points Kevin Allocca attributes the success of all videos with many views on YouTube to them having met one of three critical factors. The first of these factors is the influence of trendsetters. Trendsetters are someone who initiates or popularizes a trend, or in this case causes a video to go viral. This can be done in a variety of ways; it can even be something as simple as tweeting about it. Jimmy Kimmel did this with “double rainbow” when he tweeted about it on July 11th 2010 and caused it to go from almost no views when it was posted on January 18th 2010 to over 400 000 by the end of July 12th 2010 (Allocca, 2011). This however isn’t an isolated phenomenon; this happens everyday with celebrity endorsement and people even making their living by showing popular YouTube videos to others such as the comedy central program Tosh.0 The second point that Kevin made was that communities of participation often turn mediocre success into phenomenal success. This often...
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...TRADIGITAL MARKETING Submitted by: Rahul Singh Shubhankar Som Shivi Shrivastava Sathya Saurabh Sharma Saurabh Tirpude WHAT IS MARKETING? Marketing is the process of planning, designing, pricing and distributing ideas, goods and services in order to satisfy customer needs and generate revenue and make profit. To quote the American Marketing Association's definition, it is "an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders" Diluting all the verbosity, it melts down to one simple word “SELLING”!! This is the prime purpose behind any kind of marketing. The "selling" is accelerated with the help of properly chalked out plans called marketing strategies. With "selling" as the ultimate goal, marketing strategies are influenced by two basic factors: 1) Acquisition of customers; 2) Retention of the acquired customers. So every other strategy that is laid out will focus on the above two. A Company has to work closely towards achieving these two to attain the desired cutting edge over its competitors. There are also a few other objectives like creating awareness (informational and educational) about the product, brand-building and accelerating sales. CONCEPT OF TRADITIONAL MARKETING: With the world changing at every nanosecond, marketing is also reeling...
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...Internet usage pattern with about 75% of the Internet population majorly driven by school children (21%), college students (27%) and young men (27%). The increasing usage of this segment has been propelled by the advancement of e-learning services, social networking sites and other online educational examinations. India has shown tremendous growth rate over the years due to the arrival of networking sites, emails, ecommerce etc. According to a report by the International and The Internet and Mobile Association of India, an average Indian Internet user spends about 3.5 hours a week. Also, the activity on social networking sites increases gradually through the week and reaches the peak on Fridays. Bank websites usage follows the exact opposite trend, i.e. they are accessed more during the weekdays and lesser during the weekends. The time distribution of youth in various the Internet applications are as follows – 89% of the youth use the Internet to access emails, 71 % for social networking, 55% use it for chatting, 45%...
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...(wikipedia.com). In 1998, McDonald’s made an initial minority investment in the corporation and become its largest investor by 2001 (wikipedia.com). The investment from McDonald’s granted Chipotle the opportunity to quickly expand from 16 restaurants in 1998 to 837 locations in 2009 (wikipedia.com, slideshare.net). While Chipotle is one of the fastest growing restaurants in North America, the corporation faces competition from corporations such as Moe’s Southwest Grill, Qdoba Mexican Grill, Rubio’s Fresh Mexican Grill, Panchero’s Mexican Grill, and Baja Fresh (wikipedia.com). In addition to numerous competitors in the fast-casual Mexican market, Chipotle must also adapt to changes in the marketing environment that involve the evolution of new technologies and concepts such as increased use of the Internet, viral technology, and social networking sites such as Facebook, Twitter, and MySpace. In order to counteract the presence of market competitors while leveraging the...
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...Viral Marketing By Chad Thevenot, Katherine Watier, and Team Member #3 Georgetown University, Communications, Culture & Technology Program May 2001 Word-of-mouth publicity is a centuries-old marketing technique. Once customers had a good experience with a product, they would tell their friends, who would often buy and use that product and then tell other friends – dispersing information and recommendations about the product via a social network. Mary Kay Cosmetics and Amway, brands that relied on social networks to inform potential customers about their products, used this technique with great success to build highly recognizable brands. Technology makes the spread of product knowledge from one person to another faster and more efficient. Today, digital media like the Internet are the new word of mouth networks, which act as easy, additional resources for people to spread the word. "The Net amplifies the power and accelerates the speed of feedback from users to potential adopters." "People have always relied on word-of-mouth to spread the news about products and services. The Internet just speeds things along," says Charlene Li, an analyst with Forrester Research. Word-of-mouth techniques are vital to marketing on the Internet. Consumers say the primary source of credibility that makes them visit a Web site is word-of-mouth referrals, usually an e-mail from a friend, according to the Internet research firm Jupiter Research. Tim Draper, one of the founding investors for the...
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...http://usa.onlinenigeria.com/money/50577-daniel-burrus-the-future-of-advertising-sales-it-s-all-about-integration.html Daniel Burrus: The Future of Advertising Sales -- It's all About Integration One of the reasons ad dollars are falling for newspapers, as well as traditional media, is that they don't fully understand the new realities of marketing. Two key shifts are taking place that media companies can no longer ignore. First, media and marketing have always been about storytelling. Advertisers have a story to tell, and the media is there to help tell it. Today, however, media and marketing go beyond mere storytelling; now it's about storytelling and dialogue. That's why social media's so popular. It's not about the word "media"; it's about the word "social." Unfortunately, we have community newspapers, television, radio, and news programs that are failing to build community through activity, engagement, and dialogue. Yes, they have a website, but for the most part they are static sites that are not engaging. So in order to move forward, big media needs to focus not just on the story, but also on the dialogue. When you add dialogue, you're moving from the information age (where so many media companies started) to the communication age (where the audience is now). Second, when we look at our traditional media players that are trying to sell advertising, they are still using the old model of media-specific ads: Radio ads just for radio, TV ads just for TV, and print ads just...
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...Beyond Traditional Marketing Prepered By: Dipali Parmar and Harsh Pandya Dept. of Business Administration, Faculty of Management., Bhavnagar University Bhavnagar Content of Abstract:Introduction:Every marketing manager needs to know about marketing in today‟s competitive markets. Beyond traditional marketing means now a days there are introduce many new technologies for the purpose of marketing. For instance, web assessment-measuring the effectiveness of electronic commerce site, Direct marketing, effect of word-of-mouth (WOM) marketing on member growth at an Internet social networking site, network marketing/ multi-level marketing, current trends, prospects and challenges in Indian retail industries, rural marketing, Indian marketing strategies for new product development, current marketing environment, value chain and corporate strategic planning, focus on consumer behavior, customer satisfaction etc….. Abstract:Successfully conducting business on the Internet calls for new marketing paradigms that meet the requirements of the unique combination of its inherent characteristics: electronic markets, technological platform, and marketing issues. In this context, electronic markets are the Framework in which market transactions are performed on the Internet. Underlying Internet technology forces marketing activities to be different from the ones applied to traditional sales channels and performance marketing is the essential ingredient for creating the best offering for...
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...Marketing Industry ASSK Group Assignment Khoo Kelvin– 1204458 Le Nicky – 0912901 Mani Steven - 1212758 Peng Chia-Yen – 1202578 Sinato Alexandre – 1214422 Table of Contents 1.0 Introduction 3 2.0 Online Marketing 4 2.1 Online/Internet Marketing 4 2.2 What Sort of Person Would Choose Marketing as a Career? 4 2.3 Skills as an Online Marketer 4 2.4 Sectors of Online Marketing 4 2.5 Specialists within Internet Marketing 4 2.6 Lifestyle Description of Working as an Online Marketer 5 3.0 Ecommerce Marketing 6 3.1 Introduction 6 3.2 Personality 6 3.3 Skills.…………………………………………………………………………………………………………………………………………………………………6 3.4 Specialist 6 3.5 Ratings of the career 6 4.0 Hospitality Marketing 7 4.1 Introduction: 7 4.2 Personality 7 4.3 Skills: 7 4.4 3 industry sectors that a marketing professional work in: 7 4.5 Customer services: 8 4.6 Benefits and un-benefits of working as a marketer: 8 5.0 Real Estate Marketing 9 5.1 Introduction 9 5.2 Skills…………………………………………………………………………… 9 5.3 Successful marketing tools 9 6.0 Sports Marketing 10 6.1 A sports marketer works for 10 6.2 A rich area (brands values) 10 6.3 Major tasks 10 6.4 Specific challenges 10 7.0 Conclusion and recommendations 11 7.1 Conclusion 11 8.0 References 12 1.0 Introduction 1.0 Introduction This report...
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.......... 7 II. Figure 2............................................................................................ 14 INTRODUCTION The rapid and continuous growth of Social Networking website (SNS) has presided over the greatest increase in social media market exposure capabilities as has been seen in the last decade; this growth has also gone through so many changes in the same period making it difficult for organisations to set a comprehensive strategy to continue to harness this extensive potential, a situation perfectly capture in this caption in “The Journal of Applied Behavioral Science by Tenkasi et al (1988) states that “The implementation of large scale planned organisational change has become increasingly important in recent years as organisations continually reconfigure themselves to meet the challenges of ever-shifting competitive landscape’, one of such changes is the...
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...Unit 18: Advertising and Promotion in Business LO1: Understand the scope of marketing communications 1.1 explain the communication process that applies to advertising and promotion The communication process specific for advertising is known as Advertising Communication Model. There are following stages in this communication process which include, the sender presents the idea and what he wants to accomplish (to an advertising agency), encodes the idea as a message in advertising media, and then message is transmitted via communication channels (media mix). The last step is the receiving step where the target audience encounters the advertisement with the message and reacts giving a feedback. 1.2 explain the organisation of advertising and promotion industry The major components of the advertising industry are: 1)Advertisers: businesses and product makers wishing to promote 2)Advertising and promotional Agencies: encode messages, produce adverts and campaigns 3)Media: offers channels and broadcasting services to place adverts 4)Consumers: target audience 5)Government regulators: control advertisements’ placement and content according to laws and to protect the public interest 1.3 assess how promotion is regulated Advertising is regulated through: * Self-Regulation: by advertisers and promotional agencies to maintain consumer trust and confidence * Local Authority Regulation: for display boards and local events * Country/Federal...
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...Overseas sourcing, without risk Here are some rules to keep your supply chain problem-free and avoid negative publicity at home and abroad Zero tolerance Shut the door firmly on illegal activity johnkworks/Shutterstock.com Managing fraud and corruption risk and protecting brand reputation is becoming increasingly important when sourcing from overseas destinations. With the changing enforcement milieu, extra-territorial statutes and zero tolerance around acts of bribery and corruption, brands need to constantly monitor their supply chains. These supply chains transcend international boundaries, with business partners (suppliers, vendors, service providers and such) being located across geographies, having different cultures and work ethics. Therefore, it is a challenge for any company to know and curb supply chain risks. To implement the code of conduct uniformly throughout the supply chain, companies have to change the mindsets of employees and business partners overseas through continuous learning and development. Winning and expanding business overseas could be a time-consuming and arduous task in some cases. Facilitation payments and kickbacks are easy quick fixes. Many sourcing destinations are countries that rate low on the Transparency International index, where vulnerabilities around vendor kickbacks and bribery of officials are prevalent. Mounting business pressures, aggressive timelines to complete projects and high costs involved have the tendency to spur unethical...
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...Marketing Histories Essay Marketing has become a fundamental part of our society in recent years, maturing into an integral part of any organisations to help maximise sales and profits. Its first major impact on companies and businesses began to take hold in post world war U.S.A, when consumers wanted to make up ‘for lost time’ from the depressive and stagnant years of war (Benton, 1987, OM&P) marketing presented an opportunity to finally make this happen. As time progressed marketing took a significant shift to a more customer-based approach, making them the very much the centerpiece. This evolution stemmed from mass production of products from homogeneous to heterogeneous and the vast array of competition that had been released to the masses. Relationship marketing was a much-needed asset to help find a way to differentiate between companies and organisations, which still very much holds a presence today and no doubt will in the future, too. As marketers became savvier and more in touch with the commercial market, they realised that they could design a concept that would help maximize sales for a company, and consequently make as much profit for them as possible. This ‘concept’ was to be known as the marketing mix paradigm, and it originally consisted of 12 different variables which were proposed by Borden in 1954, these were: product, price branding, distribution, personal selling, advertising, promotions, packaging, display, servicing, physical handling, fact...
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...Future Advertising Trends MKT 447 Future Advertising Trends Advertising is an aspect of marketing that is extremely volatile to new trends and technology updates. Because, of its trendy nature it is extremely important for advertising agencies and even companies to be aware of the trends and future trends of advertising. There are three key components that really drive trends in advertising the first is social changes, the second is globalization and legislation, the final component is new technology and means of advertising. While there are many other factors that drive trends in advertising these three components always play a critical role in the face of advertising. Social Changes Social changes have a very significant impact on the advertising world. The government non profit companies and private organizations often seek tackle social issues such as obesity, drinking, drugs, climate change and so on. These social issues cause a shift in the perception on consumers about certain products and companies. The Ad Council is a non profit organization that distributes public service announcements on behalf of various sponsors, has mission statement regarding the impacts of social change. “The Ad Council has endeavored to improve the lives of all Americans since first creating the category of public service advertising in 1942. From our earliest efforts including "Loose Lips Sink Ships" to the more recent "I am an American," Ad Council PSAs have been raising awareness...
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