Why Word-of-Mouth is an Integral Part of Business

Why Word-of-Mouth is an Integral Part of Business

Table of Contents

Toggle

Order ID# 45178248544XXTG457	Plagiarism Level: 0-0.5%	Writer Classification: PhD competent
Style: APA/MLA/Harvard/Chicago	Delivery: Minimum 3 Hours	Revision: Permitted
Sources: 4-6	Course Level: Masters/University College	Guarantee Status: 96-99%

Instructions

Why Word-of-Mouth is an Integral Part of Business

Word-of-Mouth (WOM) is one of the oldest and most powerful forms of marketing that has been used for centuries. It refers to the process of sharing information, opinions and experiences about a product, service, or company between individuals. WOM is an integral part of business because of its unique qualities and benefits, which are as follows:

Credibility: WOM is considered to be one of the most credible forms of marketing. People trust recommendations from friends, family, and acquaintances more than any other form of advertising. This is because the information shared is based on personal experiences and is seen as trustworthy.

Cost-Effective: WOM marketing is relatively low-cost compared to other forms of advertising. It requires minimal investment in terms of resources and efforts, as it leverages the power of existing relationships and networks.

Reach: WOM has the potential to reach a vast audience in a short amount of time. Positive WOM can quickly spread through social networks, leading to an exponential increase in awareness and interest in a product or service.

Increased Engagement: When someone hears about a product or service through WOM, they are more likely to be engaged and take action, such as making a purchase or seeking more information. This is because WOM often comes from people that the recipient trusts and has a relationship with.

Brand Loyalty: WOM has the ability to build strong brand loyalty. When people hear positive things about a brand from someone they trust, they are more likely to form a positive opinion of the brand and continue to do business with them in the future.

Improved Customer Service: WOM can also play a role in improving customer service. Companies are more likely to respond positively to negative WOM if they are aware of it, in order to maintain their reputation and prevent further damage.

Competitive Advantage: Positive WOM can give a company a competitive advantage over its rivals. When people hear good things about a company from someone they trust, they are more likely to choose that company over others.

However, it is important to note that WOM can also have a negative impact on a business if the information shared is negative. Therefore, it is crucial for companies to maintain a positive reputation and provide high-quality products and services to encourage positive WOM.

In conclusion, word-of-mouth is a valuable and effective tool for businesses of all sizes and industries. Its credibility, cost-effectiveness, reach, increased engagement, brand loyalty, improved customer service and competitive advantage make it an integral part of any successful marketing strategy. By actively encouraging and leveraging positive WOM, companies can build stronger relationships with their customers, increase brand awareness, and drive business growth.

RUBRIC
Excellent Quality 95-100%	Introduction 45-41 points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.		Literature Support 91-84  points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.			Methodology 58-53 points Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met.
Average Score 50-85%	40-38 points More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided.		83-76  points Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration.			52-49  points Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met.
Poor Quality 0-45%	37-1 points The background and/or significance are missing. No search history information is provided.		75-1 points Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration.			48-1 points There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met
You Can Also Place the Order at www.perfectacademic.com/orders/ordernow or www.crucialessay.com/orders/ordernow Why Word-of-Mouth is an Integral Part of Business

Why Word-of-Mouth is an Integral Part of Business

PLACE THE ORDER WITH US TODAY AND GET A PERFECT SCORE!!!