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Wolfgang Weitzl introduces a novel perspective for measuring consumer trust in eWOM by applying a rigid scale development process. In doing so, the research aims to set new methodical standards for developing reliable, valid and practicable research instruments. Most importantly, however, the research offers valuable insights into the nature and role of consumer-initiated vs. marketer-initiated online communication in an intercultural context by conducting a series of qualitative and quantitative surveys using samples from three countries.
This SpringerBrief offers a state of the art analysis of electronic word-of-mouth (eWOM) communications and its role in marketing. The book begins with an overview of traditional word-of-mouth (WOM) and its evolution to eWOM. It discusses the differences between traditional and online WOM. The book examines why people engage in eWOM communications, but also how consumers evaluate its persuasiveness. It also looks at the effects of eWOM. The book identifies current gaps in the eWOM research, but also highlights future directions for this growing field. eWOM is an important marketing technique in brand communications, and it plays an important role in modern e-commerce. Marketers become extremely interested in enhancing the power of eWOM developing loyalty programs and building brands. Studying the effect of eWOM can be beneficial for companies. This book should be a good resource for scholars and practitioners that need to understand the pervasive effects of eWOM.
Recent years have seen digital advertising grow to the point where it will soon overtake television as the no. 1 advertising medium. In the online environment, consumers interact and share their thoughts on brands and their experiences using them. These electronic word-of-mouth (eWOM) communications have become a very important to the success of products. In today’s cluttered environment, it is especially important to study how the practice of eWOM advertising operates, and how marketers can influence eWOM in social media and other online sites. This volume starts with a chapter on the current state of knowledge on eWOM and then turns its attention to current research articles on a variety of eWOM formats. These include the posting of selfies on social media, the influence of review types on consumer perception and purchase intention, the effects of preannouncement messages, and how user-generated content can be used to induce effectiveness of eWOM on social media. The relationship of eWOM to brand building is emphasized in several of the chapters. This book was originally published as a special issue of the International Journal of Advertising.
Marketing practitioners have recognized a need to measure customer-generated media in addition to the traditional marketing metrics. Message boards, chat rooms, blogs, and virtual brand communities have become important venues for customer generated media. These communities can be modeled as two distinct, albeit connected, networks: social and informational. These networks change over time under the influence of online word of mouth. This study introduces an adaptation of PageRank as a new metric for measuring the value a community assigns each word-of-mouth instance and the value the community assigns to the members that create them. That metric is used to empirically support a model explaining how highly valued information builds the social network. These communities are egalitarian in assigning value to informational content, without regard to the status of its source, and highly valued content explains 10% of social network growth.
Social media has provided endless opportunities for marketers, fuelling their desire to learn more about their consumers through this dynamic online environment. Yet many organisations are finding it difficult to create effective marketing strategies, making decisions that are based on research that is highly focused on the nature and boundaries of social media. The changing behaviour of consumers, variety of platforms and changing culture indicates that much of the research around this topic is still highly fragmented. Social Media in the Marketing Context: A State of the Art Analysis and Future Directions provides a comprehensive overview of the current literature surrounding social media and the marketing discipline, highlighting future development opportunities in both knowledge and practice. includes extensive literature search on social media in the context of the marketing discipline provides key areas for future research and recommendations for practitioners shows the importance for marketers of understanding individual behaviour on social media
The core of business activity - the process of creating and extracting value - is increasingly shifting from the traditional realm of the physically defined or reality-based, marketplaces to another quite different realm. It is different because it is defined by information. We call it the "marketspace."
This book examines issues and implications of digital and social media marketing for emerging markets. These markets necessitate substantial adaptations of developed theories and approaches employed in the Western world. The book investigates problems specific to emerging markets, while identifying new theoretical constructs and practical applications of digital marketing. It addresses topics such as electronic word of mouth (eWOM), demographic differences in digital marketing, mobile marketing, search engine advertising, among others. A radical increase in both temporal and geographical reach is empowering consumers to exert influence on brands, products, and services. Information and Communication Technologies (ICTs) and digital media are having a significant impact on the way people communicate and fulfil their socio-economic, emotional and material needs. These technologies are also being harnessed by businesses for various purposes including distribution and selling of goods, retailing of consumer services, customer relationship management, and influencing consumer behaviour by employing digital marketing practices. This book considers this, as it examines the practice and research related to digital and social media marketing.
Product sales, especially for new products, are influenced by many factors. These factors are both internal and external to the selling organization, and are both controllable and uncontrollable. Due to the enormous complexity of such factors, it is not surprising that product failure rates are relatively high. Indeed, new product failure rates have variously been reported as between 40 and 90 percent. Despite this multitude of factors, marketing researchers have not been deterred from developing and designing techniques to predict or explain the levels of new product sales over time. The proliferation of the internet, the necessity or developing a road map to plan the launch and exit times of various generations of a product, and the shortening of product life cycles are challenging firms to investigate market penetration, or innovation diffusion, models. These models not only provide information on new product sales over time but also provide insight on the speed with which a new product is being accepted by various buying groups, such as those identified as innovators, early adopters, early majority, late majority, and laggards. New Product Diffusion Models aims to distill, synthesize, and integrate the best thinking that is currently available on the theory and practice of new product diffusion models. This state-of-the-art assessment includes contributions by individuals who have been at the forefront of developing and applying these models in industry. The book's twelve chapters are written by a combined total of thirty-two experts who together represent twenty-five different universities and other organizations in Australia, Europe, Hong Kong, Israel, and the United States. The book will be useful for researchers and students in marketing and technological forecasting, as well as those in other allied disciplines who study relevant aspects of innovation diffusion. Practitioners in high-tech and consumer durable industries should also gain new insights from New Product Diffusion Models. The book is divided into five parts: I. Overview; II. Strategic, Global, and Digital Environments for Diffusion Analysis; III. Diffusion Models; IV. Estimation and V. Applications and Software. The final section includes a PC-based software program developed by Gary L. Lilien and Arvind Rangaswamy (1998) to implement the Bass diffusion model. A case on high-definition television is included to illustrate the various features of the software. A free, 15-day trial access period for the updated software can be downloaded from http://www.mktgeng.com/diffusionbook. Among the book's many highlights are chapters addressing the implications posed by the internet, globalization, and production policies upon diffusion of new products and technologies in the population.
Multinational organizations have begun to realize that sentiment mining plays an important role for decision making and market strategy. The revolutionary growth of digital marketing not only changes the market game, but also brings forth new opportunities for skilled professionals and expertise. Currently, the technologies are rapidly changing, and artificial intelligence (AI) and machine learning are contributing as game-changing technologies. These are not only trending but are also increasingly popular among data scientists and data analysts. New Opportunities for Sentiment Analysis and Information Processing provides interdisciplinary research in information retrieval and sentiment analysis including studies on extracting sentiments from textual data, sentiment visualization-based dimensionality reduction for multiple features, and deep learning-based multi-domain sentiment extraction. The book also optimizes techniques used for sentiment identification and examines applications of sentiment analysis and emotion detection. Covering such topics as communication networks, natural language processing, and semantic analysis, this book is essential for data scientists, data analysts, IT specialists, scientists, researchers, academicians, and students.