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Marketing Expenditures and Word-of-Mouth Communication : Complements or Substitutes?, Paperback / softback Book

Marketing Expenditures and Word-of-Mouth Communication : Complements or Substitutes? Paperback / softback

Part of the Foundations and Trends (R) in Marketing series

Paperback / softback

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Marketing Expenditures and Word-of-Mouth Communication reviews the existing literature on WOM and advertising to determine whether and how WOM provides a complement to or substitute of advertising spending within the firm's marketing strategy. This monograph examines the extent to which word-of-mouth communication (WOM) plays a complementary and/or substitute role with regard to advertising.

A review of the existing literature reveals the main similarities and differences between these constructs.

It also examines the conditions in which a social contagion process is most likely.

Specifically, the literature review helps to answer the following questions: whether WOM complements the advertising effect, when and how WOM can be a substitute of the marketing effort, and which issues limit WOM's ability to inform and persuade consumers. Published empirical evidence suggests that in most cases WOM complements advertising; however, three marketing strategies — viral marketing, referral reward programs, and a firm's creation of exogenous WOM — might work without advertising.

This monograph concludes with a list of unanswered questions of potential interest to both researchers and managers.

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