Word of Mouth in World of Marketing

Research Paper on Word of Mouth in World of Marketing

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The buying decisions of customers are influenced to a greater extent by the suggestions or references given by their friends and near ones than the information obtained by means of advertising or any other medium.

In formal terms, this suggestion or reference, which makes a person make his/ her buying decision, can be termed as word of mouth. The concept ‘word of mouth’ is dealt by many researchers in the field of marketing. The term was considered an area of study in the 1960s but did not apply effectively in the field of marketing. But, the term word of mouth is a cost effective, fast moving, well accepted medium of communication. Capitalizing on this medium, will not only spread the information but also affect the sales.

New media, like e-marketing (internet and its various forms-emails, blogging, chatting, etc) telephone/mobile phones, different forms of visual advertisements, etc., increased the scope of word of mouth in the domain of marketing.

The concept of word of mouth is independent of the products and services or the producer. It is a well-known tool that increases cumulatively, once initialized. Many industries had applied this technique as a tool of marketing.

The concept is defined from time to time in referral marketing, viral marketing or buzz marketing. But, the formal definition in Wikipedia is given as “Word Of Mouth (WOM), alias Word of Mouth Marketing (WOMM), is the passing of information by verbal means, especially recommendations, but also general information, in an informal, person-to person manner, rather than by mass media, advertising, organized publication, or traditional marketing. Word of mouth is typically considered a spoken communication, although web dialogue such as blogs, message boards and e-mails are often now included in the definition”.1

The definition, stated above clearly gives the indication of the emergence of WOM. It can be inferred that the concept was there even before the concept of marketing emerged. With the emergence of civilization people used advice from others, to do a certain task or to acquire the means to livelihood. Even when the humans were nomads, they gathered information about food from others in an informal, person-to-person manner. Thus, even in that time word of mouth existed.

In today’s world of increasing global competition, reaching to every individual is possible through various electronic mass media however; the importance of WOM still prevails. Organizations should

Recognize the importance of the idea and plan strategically in view of getting full value out of this traditional form of marketing.

Before planning, it is required to understand the overall concept of WOM i.e., its area, elements etc., and its relation in the domain of marketing, in order to incorporate the concept in the planning process. In this paper an attempt has been made to provide an insight into the concept of ‘WOM’.

Understanding The Notion of ‘Word of Mouth’ in the ‘World of Marketing’

The objective of any marketing person is to increase the revenue for the organization either through increase in margins or increase in sales volume. Due to cut throat competition in the current market and also the rising level of intelligence of the customer, it is not easy for any organization to charge high and increase their margins. Therefore, increasing the volume of sales can fulfill the objective. The sales volume can be increased either by selling to maximum number of customers, i.e., increasing the number of customers or increasing the repetition in purchase by the existing customers. But, even the idea of repetition does not go free, and an organization could be putting itself into a risk in future, if it does not include new customers into its customer list. Hence, the question is how to increase the number of customers? It is a known fact that satisfied customers shares their satisfaction with their group, either formal or informal. This satisfaction is shared in the form of information, which is nothing but publicity for the product which comes free of cost. This information sharing which spreads cumulatively is called word of mouth. 

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