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Electronic Word of Mouth and Social Media – Opportunities and Risks for Marketing

Electronic Word of Mouth and Social Media – Opportunities and Risks for Marketing

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Published by Lars Heyne
my MBA master-thesis about the opportunities and perils of word of mouth on the internet and social media for marketing
my MBA master-thesis about the opportunities and perils of word of mouth on the internet and social media for marketing

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Published by: Lars Heyne on Oct 17, 2011
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LARS HEYNE
Strategische Planung, Text & KonzeptionGrafenberger Allee 104, D-40237 Düsseldorf; Telefon +49 (0) 157.74703198
Electronic Word of Mouth – a NewMarketing Tool?
A Practical Approach to the Opportunities and Perils ofConsumer Generated Online Content
by Lars Heyne (October 2009)
 
 
LARS HEYNE
Strategische Planung, Text & KonzeptionGrafenberger Allee 104, D-40237 Düsseldorf; Telefon +49 (0) 157.74703198
This master-thesis has been written at the FOM Fachhochschule fürOekonomie & Management (University of Applied Sciences) in Neuss inspring of 2009. It got a 1.3 mark.I’d like to thank Prof. Dr. Soumit Sain and Prof. Dr. Dr. Peter Kürble fortheir assistance, all participants of the online survey for their participationand my dear friends Jan & Nancy for their proof-reading and Susi forher patience.
 © Lars Heyne 2009No part of this thesis may be reproduced, stored in a retrieval system or transmittedin any form or by any means electronic, mechanical, photocopying, recording or otherwisewithout prior written permission of the author.
 
I
T
ABLE OF
C
ONTENTS
 
Table of Contents ................................................................................................................................... I
 
Tables ...................................................................................................................................................... IV
 
Figures .................................................................................................................................................... VI
 
List of Abbreviations ......................................................................................................................... IX
 
1. Introduction ....................................................................................................................................... 1
 
1.1
Problem Definition .................................................................................................................... 1
 
1.1.1 The Traditional Marketing Model is Obsolete ........................................................ 1
 
1.1.2 Consumers Become Boss ................................................................................................ 6
 
1.1.3 Word of Mouth Could be the Solution ....................................................................... 9
 
1.2
Objectives .................................................................................................................................. 14
 
1.3
Methodology ............................................................................................................................. 15
 
2. Word of Mouth and eWOM ........................................................................................................ 16
 
2.1
Word of Mouth ......................................................................................................................... 16
 
2.2
Electronic Word of Mouth (eWOM) ................................................................................. 18
 
2.2.1 Definition ........................................................................................................................... 19
 
2.2.2 Transferability of WOM Insights and eWOM Specifics .................................... 20
 
2.3
Is eWOM-Marketing Possible at All? ............................................................................... 23
 
3. Marketing in a New Environment .......................................................................................... 27
 
3.1
A New Marketing Environment ........................................................................................ 27
 
3.2
Targeting Consumers in the New Marketing Environment ................................... 30
 
3.2.1 Behavioural Characterization (Social Technographics Profile) ................... 33
 
3.2.2 Demographics of the Most Frequent Contributors ............................................ 33
 
3.3
Activating Consumers in the New Marketing Environment .................................. 34
 
3.3.1 Motivation to Post eWOM (Communicator) ......................................................... 34
 

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