Conspicuous consumption is the practice of purchasing goods or services to publicly display wealth rather than to cover basic needs. Description: The word 'Conspicuous' here means lavish or wasteful spending. This kind of spending is generally made by people who have considerable amount of disposable income to spend on goods and services which are not necessary, but are more luxurious in nature.
Market concentration is used when smaller firms account for large percentage of the total market. It measures the extent of domination of sales by one or more firms in a particular market. The market concentration ratio is measured by the concentration ratio. Description: The market concentration ratio measures the combined market share of all the top firms in the industry. ‘Market Share’ is us
In 2005, I invested in a company called Tabblo (acquired by HP in 2007), and had the good fortune to work with an outstanding entrepreneur, Antonio Rodriguez. Tabblo did manage to achieve good viral growth, but around the same time YouTube was launched and managed to achieve explosive viral growth. In the process of looking at these two companies, we learnt several important things about virality. This post digs deeper into what it takes to achieve viral growth, and examines the key variables that drive viral growth.
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All viral marketing examples — deliberate or accidental — have three things in common: the message, the messenger and the environment. Each part must be leveraged to create a successful viral marketing campaign. Viral marketing campaigns may be created by any size of business and can stand alone or be a part of a larger traditional campaign. The campaigns themselves may utilize a number of tools, such as videos, games, images, email and text messaging, free products, appealing to the emotions of users or viewers, raising awareness to a worthy cause, and making such products, ideas or media easy to consume and share. Viral marketing often relies on the help of an influencer, who has a large network of followers.
Viral marketing or viral advertising is a business strategy that uses existing social networks to promote a product. Its name refers to how consumers spread information about a product with other people in their social networks, much in the same way that a virus spreads from one person to another. It can be delivered by word of mouth or enhanced by the network effects of the Internet and mobile networks.