Abstract
Purpose: The purpose of the study is to first identify the factors related to viral marketing and then explore consumer buying intention to this relatively new marketing strategy.
Design / Methodology / Approach: The study was done on primary data collected through self structured questionnaire based on five point Likert Scale. Non probability judgmental sampling was used. Seven factors were identified using exploratory factor analysis. Using structural equation modeling through smart PLS software, effect of these seven factors was studied on buying intention of consumer.
Findings: Our study shows that Immense Efficacy, Irrepressible and Professed Security factors are not associated with the buying intention of consumer due to viral marketing while Supportive Access, Consumer Dependency, Escalating Brand and Message Clarity are main factors associated with buying intention of consumer due to viral marketing.
Originality / Value: Advancements in communication technology have given rise to the evolution of a new electronic form of word-of-mouth i.e. viral marketing communication. Internet has extraordinarily changed the marketing gimmick and viral marketing is a very effective tool available to the marketers today. It is helping organizations to grow their business by adopting strategies to reach out to their customers. This research paper is our original research and respondents were belonging to India and US only. However, it will be interesting to examine these factors in a different cultural context. Marketers should utilize these results in marketing to support a measurable business goal.
8. Implications
This comprehensive survey regarding the perception of customers regarding viral marketing, will be of great use for those companies, which are intending to adopt viral marketing or have still not fully adopted viral marketing. They can concentrate on relevant factors for increasing the usage as per the requirements of the customers. Customers are likely to be satisfied with viral marketing, when they find an informative and effective system. The e-mail content must be customized and sent only after demographic and psychographic segmentation. This study will be more useful for the planners, policy makers, online industry and those who are interested in viral marketing.
