Word of Mouth
What is Word-Of-Mouth communication?
Product information that individuals transmit to other individuals.
What is an opinion leader?
A person who is knowledgeable about products and who frequently is able to influence others' attitudes or behaviors with regard to a product category
What is FOMO?
Fear Of Missing Out
What does the fashion system include?
It includes all the people and organizations that create symbolic meanings and transfer those meanings and transfer those meanings to cultural goods.
Why is trusting online reviews problematic?
They could be bias
About what percent of unhappy customers will not do business with a company again?
90%
What is monomorphic and polymorphic opinion leaders?
Monomorphic: expert in a limited field
Polymorphic: expert in several fields
Some people define social media in terms of hardware like iPhones or androids, or software like wikipedia, but really it's first and foremost about... what?
Community; the collective participation of members who together build and maintain a site.
What is the Trickle-down theory?
It states that two conflicting forces drive fashion change.
What are some pros to having loyal customers for your brand?
Benefits, Word of Mouth, Expanding business
Word of mouth influences how much of all consumer goods sales?
2/3 of all consumer goods sales
What is the two step flow model of influence?
Proposes that a small group of influencers disseminate information since they can modify the opinions of a large number of other people.
What is a flow state?
situation where consumers are truly involved with a product, an ad, or a website.
What is the difference between a classic, and a fad?
A classic is a fashion with an extremely long acceptance cycle. A fad is a very short lived fashion
How can companies get started on tracking net promoters?
Survey
Calculate
Compare
What is guerrilla marketing?
Promotional strategies that use unconventional means and venues to encourage word of mouth about products.
What is a market maven?
A person who likes to transmit marketplace information of all types.
What is a brand advocate and what percentage of people who spend time online are advocates?
Consumes who supply product reviews online. 40% of people who spend time online are advocates and that they influence two to one over non advocates.
What are the Behavioral Science Perspectives on fashion?
Psychological
Economic
Sociological
What are some ways to try to convert customers into promoters?
customers becoming more loyal, willing to talk through word of mouth
What are the 3 basic themes identified from the study of complaint websites?
Injustice: consumer protestors frequently talk about their fruitless attempts to contact the company.
Identity: posters characterize the violator as evil, rather than simply incompetent.
Agency: individual web site creators try to create a collective identity for those who share their anger with a company. They evoke themes of crusade and heroism to rally others to believe that they have the power to change the status quo in which companies can wrong consumers without retribution.
What is the sociometric methods and what makes it difficult and expensive?
Sociometric methods trace communication patterns among members of a group. It is very difficult and expensive because it involves very close study interactions in small groups.
What is the social object theory?
Proposes that social networks will be more powerful communities if there is a more active relationship among people and objects and objects within them.
What are some examples of fads in the last few decades?
silly bands
Tech Deks
Heely's
How do websites like yelp highlight online ratings and the pros/cons that go along with it?
pros: various and detailed information
cons: bias