Word-of-Mouth Recommendations in an Automobile Market System

2019 ◽  
Author(s):  
Amineh Zadbood ◽  
Nicholas Russo ◽  
Steven Hoffenson
Keyword(s):  
Social Networks ◽  
Word Of Mouth ◽  
Consumer Preferences ◽  
Random Network ◽  
Network Models ◽  
System Level ◽  
Purchasing Decisions ◽  
Eigenvector Centrality ◽  
Agent Based ◽  
Consumer Interactions

Abstract Improving design in the context of market systems requires an understanding of how consumers learn about and evaluate competing products. Marketing models frequently assume that consumers choose the product with the highest utility, which provides businesses insights into how to design and price their products to maximize profits. While recent research has shown the impacts of consumer interactions within social networks on their purchasing decisions, they typically model market systems using a top-down approach. This paper applies an agent-based modeling approach with social network models to investigate the extent to which word-of-mouth (WOM) communications are influential in changing consumer preferences and producer market performance. Using a random network, we study the effects of the number of referrals for a product and the degrees of similarity between the senders and receivers of referrals on purchase decisions. In addition, the eigenvector centrality metric is used to analyze the spread of WOM referrals. The simulation results show that the most influential consumers in the network can create significant shifts in the market share, and a statistical analysis reveals a significant change in the system-level metrics of interest for the competing firms when WOM recommendations are included. The findings incentivize producers to invest in supporting their product development efforts with rigorous social networks analysis so as to increase their market success.

Identifying Influencers in Online Social Networks

2013 ◽  
Vol 9 (1) ◽  
pp. 1-20 ◽  
Author(s):  
Yifeng Zhang ◽  
Xiaoqing Li ◽  
Te-Wei Wang
Keyword(s):  
Social Networks ◽  
Online Social Networks ◽  
Word Of Mouth ◽  
Agent Based Modeling ◽  
Viral Marketing ◽  
Tie Strength ◽  
Agent Based ◽  
Widespread Acceptance ◽  
Tremendous Amount ◽  
Marketing Messages

Online social networks (OSNs) are quickly becoming a key component of the Internet. With their widespread acceptance among the general public and the tremendous amount time that users spend on them, OSNs provide great potentials for marketing, especially viral marketing, in which marketing messages are spread among consumers via the word-of-mouth process. A critical task in viral marketing is influencer identification, i.e. finding a group of consumers as the initial receivers of a marketing message. Using agent-based modeling, this paper examines the effectiveness of tie strength as a criterion for influencer identification on OSNs. Results show that identifying influencers by the number of strong connections that a user has is superior to doing so by the total number of connections when the strength of strong connections is relatively high compared to that of weak connections or there is a relatively high percentage of strong connections between users. Implications of the results are discussed.

scholarly journals MICROECONOMIC ANALYSIS OF CONSUMER BEHAVIOR FROM THE POINT OF VIEW OF GENERATION THEORY IN THE MIND OF DIGITALIZATION

2021 ◽  
Vol 71 (4) ◽  
Author(s):  
Anna Pereverzieva ◽  
Olena Hubar
Keyword(s):  
Social Networks ◽  
Information And Communication Technologies ◽  
Consumer Behaviour ◽  
Consumer Preferences ◽  
Communication Technologies ◽  
Digital Economy ◽  
Value Orientations ◽  
Point Of View ◽  
Purchasing Decisions ◽  
Information And Communication

The article examines the determinants of consumer behaviour characteristics amid information and communication technologies and their use in all social spheres. The relevance of the study is due to the fostering of digital economy and its interference into the social spheres, including transformation of consumer preferences and values when making purchasing decisions. The objective of the article is to determine consumer behaviour characteristics belonging to different generations. The transformation of structure, but directly of the consumption character in the digital economy has been analyzed. The analysis of socio-economic and historical preconditions` impact on the consumers` value orientations have been carried out. Within the theory of generations` framework, the issue of social groupings` (generations`) stability selection, their periodization and main values` figuring out have been considered. One of the key values that determines their affiliation to a society, a certain generation, and, accordingly, forms a certain microeconomic model of consumer behaviour is cosmopolitanism in the growing pace of information and communication technologies distribution and the availability of Internet resources. The most important feature of consumer behaviour in the formation and development of the digital economy which characterizes all generations – vertical trust – trust in public authorities and the media and horizontal trust – trust in information obtained from the inner circle and social networks, has been studied. Social networks` and environment`s impact on purchasing decisions in terms of generations – X and Y has been examined. The growing level of access to information, the range of consumer opportunities to maximize goods` utility through individual approach to supply have been analyzed. The peculiarities of market transformation and its focus on consumer preferences and values, digital technologies resources to reduce transaction costs when buying and selling, the prerequisites for shifting consumption from the long term to the short term have been identified.

scholarly journals The Implication of e-WoM Communication on Customer Preference and Purchase Decision of Electronic Gadgets

2020 ◽  
Vol 11 (1) ◽  
pp. 1-11
Author(s):  
Budiono Hardjono ◽  
Sugeng A. Riyadi ◽  
Diba Aris
Keyword(s):  
Data Analysis ◽  
Random Sampling ◽  
Word Of Mouth ◽  
Digital Communication ◽  
Consumer Preferences ◽  
Simple Random Sampling ◽  
Purchase Decision ◽  
Purchasing Decisions ◽  
Customer Preference ◽  
Spss Software

This study aims to analyze the implications of e-WoM components (intra-personal ties, homophile, credibility) on consumer purchasing decisions both directly and through mediating consumer preferences. Previous experience of consumer purchases conveyed by word of mouth can be a preference for other consumers in buying products or services. The development of digital communication makes electronic Word of Mouth (e-WoM) play an important role in influencing consumer preferences, especially for those who have to make purchasing decisions for products with many features such as gadgets. A total of 300 questionnaires were distributed around Jakarta using simple random sampling and obtained 102 complete responses from respondents. Data analysis was performed using descriptive statistical methods, correlational and multiple regression with the help of SPSS software. The results showed that the gadget purchase decision was partially influenced by consumer purchasing preferences and credibility sources, but this purchase preference was not as dominant as the credibility source. Gadgets are designed unusual and have many advanced technological features compared to conventional products, therefore the results of this study may not be valid for products outside of the gadget. Further research is needed whether e-WoM has the same influence on consumer purchasing decisions of conventional products.

scholarly journals Deep Learning Exploration of Agent-Based Social Network Model Parameters

2021 ◽  
Vol 4 ◽  
Author(s):  
Yohsuke Murase ◽  
Hang-Hyun Jo ◽  
János Török ◽  
János Kertész ◽  
Kimmo Kaski
Keyword(s):  
Social Networks ◽  
Social Network ◽  
Network Model ◽  
Network Models ◽  
Agent Based Modeling ◽  
Training Data ◽  
Model Parameters ◽  
Social Phenomena ◽  
Agent Based ◽  
Input Parameters

Interactions between humans give rise to complex social networks that are characterized by heterogeneous degree distribution, weight-topology relation, overlapping community structure, and dynamics of links. Understanding these characteristics of social networks is the primary goal of their research as they constitute scaffolds for various emergent social phenomena from disease spreading to political movements. An appropriate tool for studying them is agent-based modeling, in which nodes, representing individuals, make decisions about creating and deleting links, thus yielding various macroscopic behavioral patterns. Here we focus on studying a generalization of the weighted social network model, being one of the most fundamental agent-based models for describing the formation of social ties and social networks. This generalized weighted social network (GWSN) model incorporates triadic closure, homophilic interactions, and various link termination mechanisms, which have been studied separately in the previous works. Accordingly, the GWSN model has an increased number of input parameters and the model behavior gets excessively complex, making it challenging to clarify the model behavior. We have executed massive simulations with a supercomputer and used the results as the training data for deep neural networks to conduct regression analysis for predicting the properties of the generated networks from the input parameters. The obtained regression model was also used for global sensitivity analysis to identify which parameters are influential or insignificant. We believe that this methodology is applicable for a large class of complex network models, thus opening the way for more realistic quantitative agent-based modeling.

Reinterpretaion of the friendship paradox

2017 ◽  
Vol 28 (02) ◽  
pp. 1750024
Author(s):  
Jingcheng Fu ◽  
Jianliang Wu
Keyword(s):  
Social Networks ◽  
Random Network ◽  
Network Models ◽  
Mean Value ◽  
Clustering Coefficient ◽  
Probability Method ◽  
Price Model ◽  
Power Law Exponent ◽  
The Mean ◽  
Shed Light

The friendship paradox (FP) is a sociological phenomenon stating that most people have fewer friends than their friends do. It is to say that in a social network, the number of friends that most individuals have is smaller than the average number of friends of friends. This has been verified by Feld. We call this interpreting method mean value version. But is it the best choice to portray the paradox? In this paper, we propose a probability method to reinterpret this paradox, and we illustrate that the explanation using our method is more persuasive. An individual satisfies the FP if his (her) randomly chosen friend has more friends than him (her) with probability not less than [Formula: see text]. Comparing the ratios of nodes satisfying the FP in networks, [Formula: see text], we can see that the probability version is stronger than the mean value version in real networks both online and offline. We also show some results about the effects of several parameters on [Formula: see text] in random network models. Most importantly, [Formula: see text] is a quadratic polynomial of the power law exponent [Formula: see text] in Price model, and [Formula: see text] is higher when the average clustering coefficient is between [Formula: see text] and [Formula: see text] in Petter–Beom (PB) model. The introduction of the probability method to FP can shed light on understanding the network structure in complex networks especially in social networks.

Application of Lattice Imaging Techniques to Amorphous Films

1975 ◽  
Vol 33 ◽  
pp. 8-9
Author(s):  
S. R. Herd ◽  
P. Chaudhari
Keyword(s):  
Nearest Neighbor ◽  
Random Network ◽  
Imaging Techniques ◽  
Network Models ◽  
Accurate Method ◽  
Direct Transmission ◽  
Lattice Imaging ◽  
Transmission Electron ◽  
Lattice Planes ◽  
Nearest Neighbor Distances

Electron diffraction and direct transmission have been used extensively to study the local atomic arrangement in amorphous solids and in particular Ge. Nearest neighbor distances had been calculated from E.D. profiles and the results have been interpreted in terms of the microcrystalline or the random network models. Direct transmission electron microscopy appears the most direct and accurate method to resolve this issue since the spacial resolution of the better instruments are of the order of 3Å. In particular the tilted beam interference method is used regularly to show fringes corresponding to 1.5 to 3Å lattice planes in crystals as resolution tests.

PENGARUH KUALITAS PELAYANAN DAN WORD OF MOUTH TERHADAP KEPUTUSAN PEMBELIAN DI KAFE POTRET MEDAN

2019 ◽  
Vol 13 (2) ◽  
pp. 199
Author(s):  
Asrye Tutur Sinaga ◽  
Nurul Wardani
Keyword(s):  
Regression Analysis ◽  
Linear Regression ◽  
Service Quality ◽  
Word Of Mouth ◽  
Hypothesis Test ◽  
Linear Regression Analysis ◽  
Multiple Linear Regression Analysis ◽  
Quality Data ◽  
Purchasing Decisions ◽  
Study Hypothesis

AbstrakPenelitian ini bertujuan untuk mengetahui dan dapat menjelaskan pengaruh Kualitas Pelayanan dan Word Of Mouth terhadap Keputusan pembelian di Kafe Potret Medan. Populasi dalam penelitian ini adalah 700 orang ditentukan dari jumlah pengunjung Kafe Potret Medan dalam kurun waktu satu minggu, dan sampel yang digunakan berjumlah 88 pengunjung. Sedangkan tehnik pengumpulan data menggunakan angket (kuesioner) dan pengujiannya yaitu uji kualitas data dan uji asumsi klasik.Pengujian hipotesis menggunakan analisis regresi linier berganda, uji F, uji t, dan uji R2. Hipotesis penelitian dimensi Kualitas Pelayanan dan Word Of Mouth secara parsial terhadap Keputusan Pembelian diterima jika t hitung > t tabel dengan tingkat signifikan 0.05.Nilai t tabel dalam penelitian ini 1,662. Nilai t hitung variabel X1 sebesar 1,990 t hitung  > t tabel maka hipotesis diterima, nilai t hitung variabel X2 sebesar 2,628 t hitung > t tabel maka hipotesis diterima. Dari 2 variabel, variabel Word Of Mouth yang paling dominan mempengaruhi Keputusan Pembelian  sebesar 2,628. Kata Kunci : Kualitas Pelayanan, Word Of Mouth, Keputusan Pembelian AbstractThe purpose of this study is to identify and able to explain the influence of Service Quality and Word Of Mouth to Purchasing Decisions of Kafe Potret Medan. The population in this study were 700 people from visitors Kafe Potret Medan in one week, and the samples used were 88 visitors. While the techniques of data collection using the questionnaire and use the test of quality data and classical assumption. The hypothesis test uses multiple linear regression analysis, F test, R square and t test. The study hypothesis was partially of Service Quality and Word Of Mouth dimension to  Purchasing Decisions is acceptable if t hitung > t tabel with a significant level 0.05. The t tabel value in this study 1.662. The t hitung X1 is 1.990 that mean t hitung > t tabel then the hypothesis is accepted, t hitung X2 is 2.628 that mean t hitung > t tabel then the hypothesis is accepted. From 2 variables fascination that the most dominant variable for Purchasing Decisions is Word Of Mouth of 2.628. Keywords : Service Quality, Word Of Mouth, Purchasing Decisions

KEPUTUSAN PEMBELIAN E-COMMERCE SHOPEE DITINJAU DARI WEBSITE QUALITY, INOVASI PRODUK, DAN ELECTRONIC WORD OF MOUTH (STUDI PADA MAHASISWA FAKULTAS EKONOMI UNIVERSITAS ISLAM BATIK SURAKARTA)

2020 ◽  
Vol 4 (02) ◽  
Author(s):  
Tulus Dwi Prasetyo ◽  
Istiatin Istiatin ◽  
Bambang Mursito
Keyword(s):  
Product Innovation ◽  
Word Of Mouth ◽  
Sampling Technique ◽  
Primary Data ◽  
Electronic Word Of Mouth ◽  
Purchasing Decisions ◽  
Literature Study ◽  
Website Quality ◽  
Quality Product ◽  
Economics Faculty

The purpose of this research is to find out whether there is a significant influence between variable website quality, product innovation, and electronic word of mouth on e-commerce shopee purchasing decisions. In addition, it is also to find out whether there is a significant simultaneous effect and which variable is the most dominant in influencing the purchase decision of e-commerce shopee at the Faculty of Economics, Batik Islamic University, Surakarta. The method used is quantitative descriptive method. The population in this study amounted to 1330 students and the number of samples used was 133, where the sampling technique used quota sampling. The data used are primary data and secondary data with data collection techniques: observation, documentation, questionnaire and literature study. Data analysis techniques in this study used multiple linear tests. The results of the study can be concluded that: The results of the study can be concluded that: 1) There is the influence of website quality, product innovation, and electronic word of mouth simultaneously influence the purchasing decision of e-commerce shopee on the Students of the Faculty of Economics, Islamic University of Batik Surakarta, 2) There is an influence website quality on e-commerce shopee purchasing decisions at the Batik Faculty Islamic University Economics Faculty Students, 3) There is an influence on product innovation on e-commerce shopee purchasing decisions at the Batik Faculty Islamic Economics Faculty Students, 4) There is the influence of electronic word of mouth on the decision purchasing e-commerce shopee at the Faculty of Economics, Surakarta Islamic Batik University. Keywords: Purchasing Decisions, Website Quality, Product Innovation, Electronic Word Of Mouth

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