Contemporary Customer and Customer behavior

Subject: Business    / Marketing
Question

Master in Marketing

Module: Contemporary Customer and Customer behavior

Subject: Managing WOM

Week 6 Key Concept Exercise

Word of mouth significantly influences consumers when purchasing a product. Positive WOM could contribute to the better evaluation of the product, whereas negative WOM could prevent consumers from buying it. Companies could find ways for reducing the negative and maximising the positive effects of WOM.

For this Key Concept Exercise you will begin to evaluate the role of WOM in the decision-making process.

To prepare for this Key Concept Exercise:

Read the Required Learning Resources for Week 6.
Search for additional academic articles related to the topic

To complete this Key Concept Exercise:

in an approximately 500-word response, address the following issues/questions:

Critically discuss the role of WOM in decision-making process.
In formulating your Key Concept Exercise, consider the following questions:
What is the role of WOM in the decision-making process?
What strategies could companies use for encouraging positive WOM and reduce the consequences of negative WOM?

When writing your responses you should synthesise the theory with real-world experience and use examples of the theories in action in a real organisation about which you have read or one in which you have worked.

Be sure to read over your Key Concept Exercise before submitting it to your Instructor. Make sure the spelling and grammar are correct and the language, citing and referencing you use when providing your opinion are appropriate for academic writing.

Important note.

More than 5% plagiarism work will be rejected.

Refer to the below references

Required

Document: Week 6 Key Concept Overview (PDF)

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Chakrabarti, S. (2013) ‘The influence of opinion leadership and associated measures among owners of high end smartphone products in India’, Journal of Marketing & Communication, 8 (4), pp.4-12.
Use the University of Liverpool Online Library to find this article.

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Dikcius, V., Seimiene, E. & Zaliene, E. (2013) ‘Congruence between brand and consumer personalities’, Economics & Management, 18 (3), pp.526-536.
Use the University of Liverpool Online Library to find this article.

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Nga, J.K.H. & Yien, L.K. (2013) ‘The influence of personality trait and demographics on financial decision making among Generation Y’, Young Consumers, 14 (3), pp.230-243.
Use the University of Liverpool Online Library to find this article.

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Shi, M. & Wojnicki, A.C. (2014) ‘Money talks … to online opinion leaders: what motivates opinion leaders to make social-network referrals?’, Journal of Advertising Research, 54 (1), pp.81-91.
Use the University of Liverpool Online Library to find this article.