Examining the Value of Word of Mouth As a Marketing Tool for Poker Book
Total Page：16
File Type：pdf, Size：1020Kb
UNLV Theses, Dissertations, Professional Papers, and Capstones Spring 2011 Examining the Value of Word of Mouth as a Marketing Tool for Poker Book Jeffery J. Hwang University of Nevada, Las Vegas Follow this and additional works at: https://digitalscholarship.unlv.edu/thesesdissertations Part of the Advertising and Promotion Management Commons, Gaming and Casino Operations Management Commons, Marketing Commons, Other Communication Commons, and the Sales and Merchandising Commons Repository Citation Hwang, Jeffery J., "Examining the Value of Word of Mouth as a Marketing Tool for Poker Book" (2011). UNLV Theses, Dissertations, Professional Papers, and Capstones. 1057. http://dx.doi.org/10.34917/2455970 This Professional Paper is protected by copyright and/or related rights. It has been brought to you by Digital Scholarship@UNLV with permission from the rights-holder(s). You are free to use this Professional Paper in any way that is permitted by the copyright and related rights legislation that applies to your use. For other uses you need to obtain permission from the rights-holder(s) directly, unless additional rights are indicated by a Creative Commons license in the record and/or on the work itself. This Professional Paper has been accepted for inclusion in UNLV Theses, Dissertations, Professional Papers, and Capstones by an authorized administrator of Digital Scholarship@UNLV. For more information, please contact [email protected]. EXAMINING THE VALUE OF WORD OF MOUTH AS A MARKETING TOOL FOR POKER BOOKS by Jeffery J. Hwang Bachelor of Science in Business Administration Washington University in St. Louis May 2003 A professional paper submitted in partial fulfillment of the requirements for the Master of Science in Hotel Administration William F. Harrah College of Hotel Administration Graduate College University of Nevada, Las Vegas May, 2011 Spring 2011 ABSTRACT Examining the Value of Word of Mouth as a Marketing Tool for Poker Books by Jeff Hwang Robert H. Woods, Ph.D. Professor University of Nevada, Las Vegas Abstract: In the spring of 2003, the poker world saw the launch of the World Poker Tour; that same May, an amateur poker player and online qualifier named Chris Moneymaker won the Main Event of the World Series of Poker and the $2.5 million first prize, demonstrating that virtually anyone can win at poker. The result of these two events was a “poker boom” that, by September 2005, had the two largest poker book publishers on the planet reporting ten-fold increases in sales. And yet, outside of their own company websites, most of the largest poker book publishers on the planet spend little – if not nothing – on advertising. What, then, drives the sales of poker books? The answer would seem to be word of mouth. The purpose of this paper is to examine the power of word-of-mouth (WOM) communication as a marketing tool for poker books. This study reviews the extant literature relating both to WOM as a general concept, as well as to role that WOM plays in driving book sales in particular. Based on the literature review, the author provides recommendations for creating a WOM campaign designed to drive poker book sales. ii TABLE OF CONTENTS ABSTRACT .................................................................................................................................... ii TABLE OF CONTENTS ............................................................................................................... iii PART I .............................................................................................................................................1 Introduction ......................................................................................................................................1 Word-of-Mouth Communication .....................................................................................................2 Purpose .............................................................................................................................................3 Justification ......................................................................................................................................3 Constraints .......................................................................................................................................4 PART II ............................................................................................................................................5 Introduction ......................................................................................................................................5 The Power of Word-of-Mouth Communication ..............................................................................5 The Effect of WOM on Online Book Sales .....................................................................................6 WOM and Online Store Loyalty ..........................................................................................7 WOM and Conference Attendance ......................................................................................8 The Strength of Ties.........................................................................................................................8 What Makes Word of Mouth Powerful? ........................................................................................10 Vividly vs. Pallidly Presented Information ........................................................................10 Negative WOM Communication ...................................................................................................11 The Effectiveness of Advertising in the Presence of Negative WOM ..............................12 Negative WOM from an Attribution Theory Perspective ..................................................12 Negative WOM and the Importance of Service Recovery ................................................13 The Nine Levels of Word of Mouth ..............................................................................................14 Types of WOM Messages ..............................................................................................................15 Creating a WOM Campaign Designed to Drive Book Sales .........................................................16 Generating Positive WOM .............................................................................................................17 A Secret, A Story, or a Surprise .........................................................................................17 Catering to Initial Customers, Giving Incentives, and Asking for WOM .........................18 Specific Steps for Creating a WOM Campaign .............................................................................19 Generating WOM for Book Sales ..................................................................................................19 Online Discussion Forums .................................................................................................20 Using Free e-Books to Build WOM ..............................................................................................20 The Short-Term Influence of Free Digital Versions on Print Sales...................................21 Conclusion to Literature Review ...................................................................................................22 PART III ........................................................................................................................................24 Introduction ....................................................................................................................................24 The Poker Book Market .................................................................................................................24 Finding a Place in the Market ........................................................................................................27 Distributing Advance Copies .........................................................................................................28 Other Free Material: Magazine Columns, Book Excerpts, and Videos ........................................29 Using the Internet ...........................................................................................................................29 Poker Tournaments and Hosting Games ........................................................................................30 iii Managing Negative WOM .............................................................................................................30 Conclusion .....................................................................................................................................31 GLOSSARY OF TERMS ..............................................................................................................33 REFERENCES ..............................................................................................................................35 iv Part I Introduction In the spring of 2003, the World Poker Tour began airing on the Travel Channel, utilizing new hole card cameras which for the first time allowed television audiences to view the hole cards1 of each player as the hand was being played, thus putting the viewer in the shoes of the player (Sexton, 2008; and World Poker Tour, 2011). That same May, an accountant, amateur poker player, and online qualifier named Chris Moneymaker won the World Series of Poker and the $2.5 million first