Word-of-mouth Marketing: Features and Prospects of Application

2022;
: pp. 7 - 15
1
Lviv Polytechnic National University
2
Lviv Polytechnic National University, Ukraine

Marketing of enterprises is becoming an increasingly important component of their effective ac- tivities, however, with the development of technology, traditional ways of promoting goods are gradu- ally losing their effectiveness, because most people no longer trust advertising.

The essence and significance of innovative and perspective word-of-mouth marketing are ana- lyzed. It is a type of free advertising in which a person shares information about a product to another one orally or in writing. People tend to trust the word-of-mouth marketing much more than other sources of information, because: 1) a person advising a product / service is familiar or close to a cus- tomer; 2) he/she has no personal benefit; 3) the information is not advertising; 4) a positive opinion about the product is transmitted only if a consumer is personally satisfied with its quality.

The provided data showed the popularity of the word-of-mouth marketing in the modern world. Its subjects (loyal consumers, opinion leaders, brand advocates, brand prosecutors, influencers and brand ambassadors) and strategies (experience sharing, news providing and benefit emphasizing) are highlighted. The main stages of the word-of-mouth marketing implementation are formulated, and several successful examples of its implementation are considered. The key tactics of the word-of-mouth marketing are presented, as well as its advantages and disadvantages are summarized, which can in- crease the effectiveness of such an ambiguous type of marketing.

In general, the word-of-mouth marketing is needed not only to increase sales, customer base or revenue, but also to encourage companies to innovate.

  1. Shcho take marketynh iz vust v usta? [What is word-of-mouth marketing?] (2022). Retrieved from: https://uk.theastrologypage.com/word-mouth-marketing (in Ukrainian).
  2. Ong W. J. (2002). «Orality and Literacy: The Technologizing of the Word». Routledge.
  3. Akulych M. V. (2022). Sarafannyi marketinh (ili marketynh «iz ust v usta») [Word of mouth marketing]. Litres.
  4. Word of Mouth Marketing in 2022: How to Create a Strategy for Social Media Buzz & Skyrocket Referral Sales. Retrieved from: https://www.bigcommerce.com/blog/word-of-mouth-marketing/#word-of-mouth-marketing- statistics.
  5. Nielsen (2012). Global Trust in Advertising and Brand Messages. Retrieved from: https://www.nielsen.com/ us/en/insights/report/2012/global-trust-in-advertising-and-brand-messages-2/#.
  6. Todorov G. (2022). 99 Essential Word of Mouth Marketing Statistics 2022 [WOM Marketing Stats]. Re- trieved from: https://thrivemyway.com/wom-marketing-stats/.
  7. Lebedev Yu. V. (2015). «Sarafannoe radio» kak priem marketinha, i eho znachenie dlia maloho biznesa [«Word of mouth» as a marketing technique, and its significance for small businesses]. JSC «Olymp». Nauchnye issledovania, № 1, 56–59.
  8. Sirma E. (2009). Word-of-mouth marketing from a global perspective. ISCTE Business School. Retrieved from:        https://repositorio.iscteiul.pt/bitstream/10071/2506/1/MasterThesis_EdaS....
  9. Yaki kanaly komunikatsii naibilshe pryvertaiut uvahu ta vyklykaiut doviru u spozhyvachiv? [Which com- munication channels attract the most attention and trust of consumers?] Retrieved from: https://digdata.com.ua/ in- dex.php/uk/kanaly-komunikatsiyi/ (in Ukrainian).
  10. Marketynh iz ust v usta [Word-of-mouth marketing]. Retrieved from: https://uk.xn---- 7sbiewaowdbfdjyt.pp.ua/1453252/1/marketing-iz-ust-v-usta.html.
  11. Zavialov A. (2021). WOM-marketinh dlia prodvyzhenyia brendov, produktov i saitov [WOM marketing to promote brands, products and websites]. Retrieved from: https://okocrm.com/blog/wom-marketing/.
  12. Sarafanne radio yak metod prosuvannia tovariv ta posluh [Sarafan radio as a method of promoting goods and services] (2014). Retrieved from: https://koloro.ua/ua/blog/brending-i-marketing/sarafannoe-radio-kak-metod- prodvizheniya-tovarov-i-uslug.html (in Ukrainian).
  13. Chto takoe sarafannoe radio: opredelenie [What is word of mouth: definition] (2021). Retrieved from: https://koloro.ua/ua/blog/brending-i-marketing/sarafannoe-radio-kak-meto....
  14. Rekomendatsiinyi  marketynh  abo  «sarafanne  radio»  –  yak  pratsiuie  ta  chomu  takyi  efektyvnyi [Recommendation  marketing  or  «sarafan radio» –  how  it  works and  why it  is  so  effective].  Retrieved  from: https://homebiznes.in.ua/rekomendatsijnyj-marketynh-abo-sarafanne-radio-... (in Ukrainian).
  15. The Mad Billionaire Behind GoPro: The Worlds Hottest Camera Company (2013). Retrieved from: https://www.forbes.com/sites/ryanmac/2013/03/04/the-mad-billionaire-behind-gopro-the-worlds-hottest-camera- company/?sh=7f95b9a67471/.
  16. Kak ispolzovat marketinhovuiu stratehiyu GoPro v svoem biznese [How to Use GoPro Marketing Strategy in Your Business] (2022). Retrieved from: https://worldscholarshipforum.com/ru/bohatstvo/marketynhovaia- stratehyia-gopro/.
  17. Pros & Cons of Word of Mouth Marketing. Retrieved from: https://smallbusiness.chron.com/advertising- compliance-techniques-34342.html.
  18. Advantages and disadvantages of word-of-mouth marketing (2021). Retrieved from: https://howandwhat.net/advantages-disadvantages-word-mouth-marketing/.
  19. The Power of Word-of-Mouth Communication and Marketing (2020). Retrieved from: https://teamrxc.com/ post/the-power-of-word-of-mouth-communication-and-marketing/.