Viral Marketing

Paper Summary:

Viral marketing describes any strategy that encourages individuals to pass on a marketing message to others, creating the potential for exponential growth in the message's exposure and influence. This paper explains how this form of marketing is used on the internet. It looks at different elements of this marketing strategy that companies employ, focusing on successful e-commerce industries such as hotmail and Amazon, while the advantages and disadvantages are also explored. The paper concludes that almost all companies on the internet can use viral marketing as an effective business tool.

From the Paper:

"Another disadvantage of viral marketing referenced in the article is referred to as both an advantage and a disadvantage: Although a multiplier effect is every marketer's fantasy, potential consumers could instead find a scathing opinion from someone who has experience with a product or service. He concludes, "On the Web all customers have a megaphone, and most are willing to use it. Like the eager combatants who will shout down a bumbling orator on Speaker's Corner in Hyde Park, E-customers will ultimately decide which messages get heard online" (Hamel 10). Viral Marketing can therefore be tricky because a company has to let others take over their public relations work, share their products, services, information, and brand, while concurrently controlling the brand and bringing marketing back to its site. However, once a company masters the balance between spreading the word and diluting your brand, its marketing can spread as quickly as the common cold."

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