Literature Review
Recommendations are offered by a range of authors in terms of effective engagement in viral marketing. It has been stressed that “one of the major factors regarding viral adoption is that the consumers must be engaged in the message” (Beneke, 2010, p.195) According to Zarella (2010), utilisation of free products or services within viral marketing programs can enhance the efficiency of a marketing campaign through sparking additional interests from users. Specifically, Zarella (2010) recommends distributing for free inexpensive items such as mugs or t-shirts as an integral part of a viral marketing campaign. The quality of viral marketing content is specified as one of the decisive factors by Mueller (2010). This viewpoint is also shared by Beneke (2010), who argues that the content of a viral marketing campaign has to have an emotional appeal so that the campaign can be highly successful. Additional viewpoint proposed by Scott (2011) relates to exclusivity of viral marketing campaigns. Scott (2011) explains exclusivity in viral marketing as an invitation to join certain clubs, enjoying access to specific products or services prior to their official release dates etc. Addressing the same issue, Kirby (2012) warns that if such offers are introduced in great numbers the level of exclusivity may be compromised, at the same time compromising the effectiveness of the overall campaign. Letelier et al. (2002) propose a range of alternative viral strategies to be implemented by businesses depending on company’s chosen business strategy. Specifically, alternative strategies proposed by Letelier et al. (2002) include fostering allegiance, building excitement, increasing emulation, and creating dissemination. The following table illustrates details associated with each of these strategies: Brand as Authority Promoter as Authority We-Focus Foster Allegiance Strategy Organise: Grassroots,shared meetingsCommunication approach: Solicit authentic voices, publish members’ experience with community Reward for members: Public recognition with…
According to Reece et al. (2010), in order to be considered a viral marketing, marketing campaigns need to be associated with a value for sender and receiver, they need to be free and reproducible and marketing campaigns need to be spread exclusively via the internet. Zarella (2010) specifies the goals of viral marketing strategy as customer attraction, increasing the level of customer loyalty, and achieving a higher level of brand awareness. According to Waldow and Falls (2012) viral marketing is different from advertising in a way that it promotes products and services in an indirect manner. Carriers of viral marketing message have been specified by Middleton (2012) as satisfied customers, individuals that are aspiring to be customers, journalists, and experts in the field. These carriers can transmit the viral marketing message in active and passive ways. Active transmission of a viral marketing message involves carriers to be spreading the message in active ways, such as making direct recommendations via internet. Passive transmission of a viral marketing message, on the other hand, occurs in situations where a particular brand or product is promoted by carriers indirectly, such as through letting others know about the act of purchasing from a specific brand. Anjum (2011) divides the costs of engagement in viral marketing into three categories: free, indirect, and direct. Viral marketing can be automatically facilitated free of charge when the product is innovative or it offers competitive benefits that are appreciated by consumers. In such occasions innovative features of the product or its competitive benefits become a viral marketing message to be spread by internet users with no costs for the manufacturer. Wirtz (2012) mentions the promotion of Apple’s Iphone in online channels as a case study for free viral marketing. Indirect costs for viral marketing occur when marketing staff of a…
Bruce and Pepitone (1999) propose an interesting viewpoint according to which managers cannot motivate employees; managers can only influence what employees are motivated to do. The role of facilitating quality subordinate-superior communication at various levels effectively employing a wide range of communication channels has been praised by Shields (2007) in terms of its positive contribution in boosting employee morale. Shields (2007) stresses two specific advantages of such a practice that relate to offering employees a chance to raise their concerns and put across their points regarding various aspects of their jobs, as well as, supplying them with the feeling of engagement and appreciation. According to Lockley (2012) offering training and development programs that effectively contributes to personal and professional growth of individuals is another effective employee motivation strategy. At the same time, Lockley (2012) warns that in order for motivational aspects of training and development initiatives to be increased, ideally they need to be devised and implemented by a third party with relevant competency and experience. Alternative working patterns such as job-rotating, job-sharing, and flexible working have been branded as effective motivational tools by Llopis (2012). Moreover, Llopis (2012) argues that motivational aspects of alternative working patterns along with its other benefits are being appreciated by increasing numbers of organisations, however, at the same time; many organisations are left behind from benefiting from such opportunities. An interesting viewpoint regarding the issue has been proposed by Wylie (2004), according to which members of management primarily should be able to maintain the level of their own motivation at high levels in order to engage in effective motivation of their subordinates. Accordingly, Wylie (2004) recommends managers to adopt a proactive approach in terms of engaging in self-motivation practices. Furthermore, Wylie (2004) recommends concentrating on specific variations of intangible motivational tools such as celebrations…
By John Dudovskiy
Category: HRM
The Knowledge Value Chain: how intellectual capital impacts on business performance – Article Review
The article researched the fundamental issues of how knowledge management impacts on business performance that creates value for the business in general. The main focus of the article has been to identify the linkage between knowledge management and core competencies, strategic processes, business performance and value creation. The article states that the knowledge is a distinguishing factor of business factor through which the company creates a successful value chain. Due to strong human capital, the companies achieve their core competencies and comparative advantages. The article has assumed that the improvement in business results in value generated for the stakeholders of the company. And the value generated is the result of an organization’s ability to manage its business processes, and finally, to manage the business processes effectively and efficiently is directly correlated with the knowledge management of any organization. Source:http://www.som.cranfield.ac.uk/som/dinamiccontent/research/cbp/2004,%20Knowledge%20Value%20Chain%20(IJTM%2027,%206-7,%20Carlucci,%20Marr,%20Schiuma).pdf
By John Dudovskiy
Category: Literature Review
“A literature review introduces the problem, develops the background by providing a history of scholarly work on the subject, and ends with the purpose and the rationale for the study” (Wysocki, 2007, p.215). According to Brown (2006) there are five criteria for the evaluation of the validity of literature review: purpose, scope, authority, audience and format. Accordingly, each of these criteria have been taken into account and appropriately addressed during the whole process of literature review. McNabb (2008), on the other hand, formulates three fundamental purposes of literature review that are described below: First, literature review shows the audience of the study that the author is familiar with the major contributions that have already been done to the research area by other authors. Second, literature helps to identify the key issues in the research area and obvious gaps in the current literature. Third, the literature review assists the readers of the research in term of comprehending the principles and theories that have been used by the author in different parts of the study. References Brown RB, 2006, Doing Your Dissertation in Business and Management: The Reality of Research and Writing, Sage Publications McNabb, DE, 2008, Research Methods in Public Administration and Non-Profit Management: Qualitative and Quantitative Approaches, 2nd edition, ME Sharpe Wysocki, DK, 2007, Readings in Social Research Methods, Cengage Learning
By John Dudovskiy
Category: Literature Review
Brown (2006) insists that two forms of literature need to be reviewed: conceptual literature and research literature. Conceptual literature is a type of publication that has been written by the respected authorities in the industry. It contains theories ideas and experiences and is often published in the forms of research articles and books. A wide range of conceptual literature has been reviewed for the dissertation. Most respected authorities in the field if personal finance in general, and in the field of personal loans in particular the works of whom have been used in the research include Modigliani, Butterworth, Debelle, DeVaney, Lytton, Durand and others. Research literature, on the other hand gives information about researches that have been conducted in the field of the research topic and usually is presented in the forms of papers and reports. A number of research literature have been used in the course of the literature review for the dissertation. References Brown RB, 2006, Doing Your Dissertation in Business and Management: The Reality of Research and Writing, Sage Publications
By John Dudovskiy
Category: Literature Review
Brown (2006) maintains that the evaluation of the literature review needs to be undertaken on the basis of the following five criteria: 1. Purpose of the publication. The purposes of all of the publications reviewed as a part of the literature review have been identified in comprehensively. 2. Scope of the research. Before using a source as a secondary data for the dissertation its scope has been identified by establishing in what depth a particular article covered the issues associated with personal debts. Accordingly, the articles that did not cover the research questions in sufficient depths have not been mentioned in this chapter of the dissertation. 3. The authority of the publication. The authority of the publications and the credentials of authors have been taken into account when an article relating to the research questions have been critically reviewed. Especially, the authority of the articles available from the internet has been scrutinized greatly in order to provide the validity of the secondary research findings. Specifically, the articles from the web-sites, such as Wikipedia.org with no known authors, have not been used in the literature review. 4. Audience of the publication. Also, to whom the article was intended to was taken into account when analysing articles in terms of their inclusion in the literature review. For example, the articles written by financial institutions intended for their potential customers have not been used in the literature review. 5. Format of the information. The way information was presented in the article has also played a role in their inclusion in the literature review of the dissertation. References Brown RB, 2006, Doing Your Dissertation in Business and Management: The Reality of Research and Writing, Sage Publications
By John Dudovskiy
Category: Literature Review