Word of Mouth Marketing - Essay Example

Word Of Mouth marketing is the process of communicating the values of the product to the consumers by another consumer or rather a promoter or salesman of the company. As per definition, WOM refers to the process of oral communication between two individuals where the individuals increasingly communicate important values or related information about a particular category or brand. The advantage of WOM over standard methods of advertising is that WOM marketing happens mostly through the process of communication between two individuals at a significantly lower price as compared to that advertising. The word of mouth marketing has a significantly high level of benefits on the development of the brand value for the product as well as the company.

For globally renowned Fiskars, it can be said that the company can leverage a lot of advantages out of the word-of-mouth marketing technique by maintaining high-end quality for its products as well as introducing innovativeness in the product design. A vital point is that though the company’s product mostly falls under the consumer durables category, it increasingly caters to three business areas like the home division, the garden division, and the outdoor division.

The products especially for the outdoor division are extremely critical and need supreme durability and consistency in quality. A highly reputed brand that provides consistent quality will automatically lead to higher sales especially for this division, if accompanied by the consumer-driven word-of-mouth marketing tool.
There are significant steps that have to be followed by the company, to prevent negative impact due to the word-of-mouth marketing for the company’s products.

A very important factor is the fact that the company needs to secure its distribution network across the global markets in the wake of various fluctuating scenarios of macroeconomic conditions. The company also needs to secure the flow of various raw materials which are considered essential for the production of products. This will help the company to safeguard against the impact of price as well as supply-based fluctuations of the highly demanded raw materials. The company also needs to have a highly efficient after-sales support division to handle the few quality issues that may emerge in the products from time to time. This will be highly instrumental to minimize the possibility of negative word-of-mouth marketing.