Consumer Behaviour Essay Example | Topics and Well Written Essays - 500 words

Consumer Behaviour - Essay Example As per definition, WOM refers to the process of oral communication between two individuals where the individuals increasingly communicate important values or related information pertaining to a particular category or brand. The advantage of WOM over standards methods of advertising is that the WOM marketing happens mostly through the process of communication of two individuals at a significantly lower price as compared to that of advertising. The word of mouth marketing has significantly high level of benefits on the development of the brand value for the product as well as the company2. For globally renowned Fiskars, it can be said that the company can leverage a lot of advantage 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 in nature and needs supreme durability and consistency in quality. As a matter of fact, 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 tool3. There are significant steps that have to be followed by the company, in order 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 macro economic conditions. The company also needs to secure the flow of various raw materials