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DISSERTATION ON VIRAL MARKETING OF FMCG: CONSUMER PRIVACY / DATA PROTECTION - Essay Example

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DISSERTATION ON VIRAL MARKETING OF FMCG: CONSUMER PRIVACY / DATA PROTECTION

Review of the Literature………………………………………………………………………..3 3. Data Collection…………………………………………………………………………………7 4. Findings & Discussion………………………………………………………………………….8 5. Conclusion…………………………………………………………………………………….12 6. References……………………………………………………………………………………..14 7. Appendices ……………………………………………………………………………………18 1. Introduction Viral marketing or viral advertisement is a recent buzzword in the field of marketing (Blythe 2006: 510; Scott 2010: 93). Viral marketing is defined as a marketing phenomenon that fosters and influences people to go through the marketing messages created by companies (Hutchison 2013:1; Allen 2008: 12). Viral marketing is a self-replicating process and uses pre-existing social networks and online platforms (Plunkett 2007: 17; Papadopoulou, Kanellis and Martakos, 2011: 301). It spreads exponentially over the social media or other online platforms (Watts and Peretti, 2007: 2). The best example of viral marketing is Hotmail, which offers free e-mail services to users (Bryce 2007: 14). Whenever a user sends e-mail to others, there is an integrated viral add, which is sent to the recipient about signing up for a Hotmail account. I found out that the use of viral marketing is increasing at a rapid pace and marketers are considering it as one of the most useful marketing tools (Woerndl, Papagiannidis and Bourlakis, 2008: 33-45). Moreover, I found this topic to be enjoyable as well as challenging. The subject made me think about the degree to which viral marketing using social media can be effective for a company involved in the business of fast moving consumer goods (FMCG). I would therefore like to study on the effect of viral marketing on the FMCG companies. In simple words, how viral marketing improves business process and performance of an FMCG company will be studied. 2. Review of the Literature Consumer privacy and data security are very important; this is grounded on the fact that when personal information that is meant to be private falls into the wrong hands, the effect of this can be vital. The victims could be subjected to identity theft where their identity is used on credit cards; without their knowledge, putting them in financial debt. The number of social network users around the world has risen from 1.47 billion in 2012 to 1.73 billion in 2013. Apart from social media, internet marketing has also contributed to this large number of people in the social networks. The term ‘viral marketing’ was created by Steve Jurvetson in 1997 to portray hot mail's practice to affix for advertising (Hinz et al, 2011: 24). The main goal of viral marketing is to generate a ‘buzz’ about a product or an idea, including users to relay the marketing messages to others and create an exponential growth in the message’s visibility and effect. According to Debele et al, (2007: 291-304) viral marketing employs the concept of using the social networks of other people so that they can propagate and expose their business products and services. Business people believe that it can make use of the social network systems of other people they can relatively lower down expenses in terms of marketing (Allen, 2008:15). This aspect of using other people’s social networks has proven to be one of the cheapest and best methods of marketing in that it reaches large numbers of people is a very short period of time. The security of these companies’ ...Show more

Summary

Table of contents
1. Introduction…………………………………………………………………………………….3
2. Review of the Literature……………………………………………………………………….3
3. Data Collection…………………………………………………………………………………7


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DISSERTATION ON VIRAL MARKETING OF FMCG: CONSUMER PRIVACY / DATA PROTECTION essay example
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