INFORMAL CHANNELS OF COMMUNICATION USED BY ENTERPISES

Abstract

To date, extant literature on the subject of word of mouth (WOM) has largely been devoted to the process of WOM communication from the consumer's point of view. However, since companies are able to stimulate as well as employ WOM as one of marketing communication's instruments, they may be perceived as both senders and receivers in this process. Therefore, the question is this: Can companies manage the process of word-of-mouth communication within the framework of their structures, and if so, how? This article's aim is to identify various methods companies can use to exploit WOM on the basis of source literature and our own studies, as well as to discuss opportunities and risks related to the process of management of WOM communication.