In word-of-mouth seeding programs, customer word of mouth can generate value through market expansion; in other words, it can gain customers who would not otherwise have bought the product Alternatively, word of mouth can generate value by accelerating the purchases of customers who would have purchased anyway This article presents the first investigation exploring how acceleration and expansion combine to generate value in a word-of-mouth seeding program for a new product The authors define a program's “social value” as the global change, over the entire social system, in customer equity that can be attributed to the word-of-mouth program participants They compute programs' social value in various scenarios using an agent-based simulation model and empirical connectivity data on 12 social networks in various markets as input to the simulation The authors show how expansion and acceleration integrate to create programs' social value and illustrate how the role of each is affected by factors 

Decomposing the Value of Word-of-Mouth Seeding Programs: Acceleration Versus Expansion

Purpose – The purpose of this paper is to assess how the study of consumer behavior can benefit from the presence of Big Data. Design/methodology/approach – This paper offers a conceptual overview of potential opportunities and changes to the study of consumer behavior that Big Data will likely bring. Findings – Big Data have the potential to further our understanding of each stage in the consumer decision-making process. While the field has traditionally moved forward using a priori theory followed by experimentation, it now seems that the nature of the feedback loop between theory and results may shift under the weight of Big Data. Research limitations/implications – A new data culture is now represented in marketing practice. The new group advocates inductive data mining and A/B testing rather than human intuition harnessed for deduction. The group brings with it interest in numerous secondary data sources. However, Big Data may be limited by poor quality, unrepresentativeness and volatility, among oth...

Big Data and consumer behavior: imminent opportunities

Modeling the role of message content and influencers in social media rebroadcasting

Opportunities for Innovation in Social Media Analytics

Executive SummaryWord-of-mouth (WOM) communication is widely accepted as a critical factor in building marketing strategies and communications. Invention of the Internet and proliferation of social...

https://journals.sagepub.com/doi/pdf/10.1177/0256090916650952

eWOM: Extant Research Review and Future Research Avenues

When social influence plays a key role in the diffusion of new product, the value of a customer often goes beyond her own product purchase. We posit that a customer's value (CV) comes not only from her purchase value (PV) but also from her influence value (IV) (i.e., CV = PV + IV). Therefore, a customer's value can be far greater than her purchase value if she exerts a considerable influence on others. Building on a two-segment influential--imitator asymmetric influence model, we develop a model framework to derive closed-form expressions for PV, IV, and CV by customer segment as well as time of adoption, and we examine their comparative statics with respect to the diffusion parameters. A key parameter of our model framework is the social apportioning parameter, δ, which determines the credit a customer receives by influencing other potential adopters. We develop an endogenous method for determining δ as a function of the new product diffusion parameters. Our model framework allows us to investigate how a firm might accelerate product purchases by providing introductory discount offers to a targeted group of potential adopters at product launch. We find that purchase acceleration frequently leads to a significant increase in total customer value.

/pdf/customer-influence-value-and-purchase-acceleration-in-new-4bot5x732s.pdf

Customer Influence Value and Purchase Acceleration in New Product Diffusion

In pay-what-you-want (PWYW) pricing, buyers are allowed to pay any amount they want, often including a price of zero. Standard theory predicts that buyers are driven solely by their own interest and will always choose to pay nothing, making PWYW pricing impractical to use. Nonetheless, PWYW pricing has been consistently occurring in the marketplace. We build and analyze a theoretical model to explain the presence of PWYW pricing in the marketplace and identify the situations under which businesses are better off adopting it over the traditional posted pricing. Because the digital product domain is a particularly good fit for PWYW pricing because of its constant exposure to piracy threats, we focus on digital product firms and examine PWYW pricing as an alternative to their piracy prevention efforts. We show that PWYW pricing becomes a superior pricing strategy when the pirate version is quite similar to the authentic product and it is costly for the firm to improve its product quality. Moreover, if network externalities are present, PWYW pricing can outperform posted pricing only when the network externalities are weak. The results explain why PWYW pricing is rare in the established digital product marketplace, which exhibits strong network externalities.

Pay-What-You-Want Pricing in the Digital Product Marketplace: A Feasible Alternative to Piracy Prevention?

When social influence plays a key role in the diffusion of new product, the value of a customer often goes beyond her own product purchase. We posit that a customer's value (CV) comes not only from her purchase value (PV) but also from her influence value (IV) (i.e., CV = PV IV). Therefore, a customer's value can be far greater than her purchase value if she exerts a considerable influence on others. Building on a two-segment influential–imitator asymmetric influence model, we develop a model framework to derive closed-form expressions for PV, IV, and CV by customer segment as well as time of adoption, and we examine their comparative statics with respect to the diffusion parameters. A key parameter of our model framework is the social apportioning parameter, d, which determines the credit a customer receives by influencing other potential adopters. We develop an endogenous method for determining d as a function of the new product diffusion parameters. Our model framework allows us to investigate how a firm might accelerate product purchases by providing introductory discount offers to a targeted group of potential adopters at product launch. We find that purchase acceleration frequently leads to a significant increase in total customer value.

[Abstract] Using the extended technology acceptance model, this study aims to quantitatively analyze the user experience with the <Prayer for Life Metaverse>. In the case of Perceived Usefulness and Perceived Ease of Use, only limited detailed factors have significant impacts on the degree of satisfaction. The degree of satisfaction has positive correlations with the degree of immersion and the variables of Behavioral Intention to Use Metaverse. Although <Prayer of Life Metaverse> sophisticatedly remediates <Prayer of Life Special Exhibition> using digital technology to provide visitors with the sameness of exhibits

A Study on User Experience of the Metaverse Exhibition: Focusing on Prayer for Life Metaverse

In standard models of iterative thinking, players choose a fixed rule level from a fixed rule hierarchy. Nonequilibrium behavior emerges when players do not perform enough thinking steps. Existing ...

/pdf/a-bayesian-level-k-model-in-n-person-games-hzgo26y1rs.pdf

A Bayesian Level-k Model in n-Person Games

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Papers

Customer Influence Value and Purchase Acceleration in New Product Diffusion

Pay-What-You-Want Pricing in the Digital Product Marketplace: A Feasible Alternative to Piracy Prevention?

Customer Influence Value and Purchase Acceleration in New Product Diffusion

A Study on User Experience of the Metaverse Exhibition: Focusing on Prayer for Life Metaverse

A Bayesian Level-k Model in n-Person Games