Measuring Product Type With Dynamics Of Online Product Review Variances

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Measuring Product Type with Dynamics of Online Review Variances

Author : Yili Hong
Publisher :
ISBN 13 :
Total Pages : 41 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Measuring Product Type with Dynamics of Online Review Variances by : Yili Hong

Download or read book Measuring Product Type with Dynamics of Online Review Variances written by Yili Hong and published by . This book was released on 2017 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: A significant body of literature in information systems, marketing, and economics has shown the important implication of the distinction between experience products and search products (“product type”) on consumer information search, marketplace design, and firm strategy. However, how to empirically measure product types remains a challenge, and this challenge is further complicated by the growth of online commerce and the increasing availability of online reviews that have transformed the nature of many products and altered the perception of these products. The objective of this research is to propose an online product review-based measure that could accurately reflect consumers' perception of a product, as search or experience dominated product. Based on the definitions of search and experience products -- whether information can be easily transferred or not -- we propose a data-driven method that can be used to infer product type from statistical analyses of online product reviews. Our theoretical analyses indicate that the variance of the ratings should decrease as more consumers rate a pure search product; for experience products however, the variance of the ratings may remain constant or increase depending on the importance of the experience attributes in determining consumer utility. We demonstrate the empirical applications of this approach at the category, product, and attribute levels using product reviews data from Amazon.com, Yelp.com, and Ctrip.com, respectively. In addition, a user study conducted on Amazon Mechanical Turk shows our review-based measure to outperform Nelson's (1970) product classification, which historically has been the standard in determining product type. Overall, this new measure provides an easy to implement, less subjective and more accurate measure of product type. Therefore, researchers and practitioners can use this measure to better understand how consumers perceive products and to design strategies accordingly.

Measuring Product Type with Dynamics of Online Product Review Variances

Author : Yili Hong
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis Measuring Product Type with Dynamics of Online Product Review Variances by : Yili Hong

Download or read book Measuring Product Type with Dynamics of Online Product Review Variances written by Yili Hong and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: A significant body of literature in information systems, marketing, and economics has shown the important implication of the distinction between experience products and search products ("product type") on consumer information search, marketplace design, and firm strategy. However, how to empirically measure product types remains a challenge, and this challenge is further complicated by the growth of online commerce and the increasing availability of online reviews that have transformed the nature of many products and altered the traditional perception of these products. The objective of this research is to propose an online product review-based measure that could accurately reflect consumers' perception of a product, as search or experience dominated product. Based on the definitions of search and experience products - whether information can be easily transferred or not - we propose a data-driven method that can be used to infer product type from statistical analyses of online product reviews. Our theoretical analyses indicate that the variance of the ratings should decrease as more consumers rate a pure search product; for experience products however, the variance of the ratings may remain constant or increase depending on the importance of the experience attributes in determining consumer utility. We demonstrate the empirical applications of this approach at the category, product, and attribute levels using product reviews data from Amazon, Yelp, and Ctrip, respectively. In addition, a user study conducted on Amazon Mechanical Turk shows our review-based measure to outperform Nelson's (1970) product classification, which historically has been the standard in determining product type. Overall, this new measure provides an easy to implement, less subjective and more accurate measure of product type. Therefore, researchers and practitioners can use this measure to better understand how consumers perceive products and to design strategies accordingly.

Product Evaluations Online

Author : Evgeny Antipov
Publisher :
ISBN 13 :
Total Pages : 13 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Product Evaluations Online by : Evgeny Antipov

Download or read book Product Evaluations Online written by Evgeny Antipov and published by . This book was released on 2018 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this study the dynamics of online product ratings is modeled based on the data for 59 items from 20 product categories. We account not only for the context dependence of subsequent reviews on previously posted reviews, but also for product type (search product or experience product). We demonstrate that most consumer electronics and appliances items sold online are predominantly experience goods and provide a possible explanation for this. The comparison of search and experience goods revealed that review features (such as the length of the advantages and disadvantages sections, the number of likes and dislikes of the review, etc.) differ by product type. Using an ordinal logistic regression we identified that, other things equal, experience goods receive significantly lower ratings than search goods. A number of other non-trivial effects have been found including the “fear of criticism effect” reflecting the influence of the number of dislikes that a review receives from other users on product evaluation made by the next reviewer. It appeared that the tendency to disagree with the prevailing opinion (measured by the average rating) or with the previous author's opinion which was detected for the US book market in one of the recent studies does not generalize to the markets for consumer electronics and appliances. We discuss briefly, how information about the predictors of the dynamics of online reviews can help marketers design legal ways to increase product ratings.

The Collected Economics Articles of Harold Hotelling

Author : Harold Hotelling
Publisher : Springer Science & Business Media
ISBN 13 : 1461389054
Total Pages : 187 pages
Book Rating : 4.4/5 (613 download)

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Book Synopsis The Collected Economics Articles of Harold Hotelling by : Harold Hotelling

Download or read book The Collected Economics Articles of Harold Hotelling written by Harold Hotelling and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 187 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1985 I first began my research on the life and work of Harold Hotel ling. That year, Harold Hotelling's widow had donated the collection of his private p:;tpers, correspondence and manuscripts to the Butler Library, Columbia University. This is a most appropriate place for them to reside, in that Hotelling's most productive period as an active researcher in eco nomics and statistics coincides with the years when he was Professor of Mathematical Economics at Columbia (1931-1946). The Hotelling Collection comprises some 13,000 separate items and contains numerous unpublished letters and manuscripts of great importance to historians of economics and statistics. In the course of the following year I was able, with the generous financial assistance of the Nuffield Foundation, the Economic and Social Research Council, the British Academy and the University of Durham, to spend six weeks over the Easter period working on the collection. I returned to New York in September 1986 while on sabbatical leave from the University of Durham, and I spent most of the following eight months examining the many documents in the collection. During that academic year I was grateful to Columbia University who gave me the title of Visiting Research Professor and gave me the freedom to work in their many well-stocked libraries.

From Valence to Emotions: How Coarse versus Fine-Grained Online Sentiment can predict Real-World Outcomes

Author : Robert Kohtes
Publisher : Anchor Academic Publishing (aap_verlag)
ISBN 13 : 3954896451
Total Pages : 78 pages
Book Rating : 4.9/5 (548 download)

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Book Synopsis From Valence to Emotions: How Coarse versus Fine-Grained Online Sentiment can predict Real-World Outcomes by : Robert Kohtes

Download or read book From Valence to Emotions: How Coarse versus Fine-Grained Online Sentiment can predict Real-World Outcomes written by Robert Kohtes and published by Anchor Academic Publishing (aap_verlag). This book was released on 2014-02-01 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: The growing number of user-generated content that can be found online has led to a huge amount of data that can be used for scientific research. This book investigates the prediction of certain human-related events using valences and emotions expressed in user-generated content with regard to past and current research. First, the theoretical framework of user-generated content and sentiment detection- and classification methods is explained, before empirical literature is categorized into three specific prediction subjects. This is followed by a comprehensive analysis including a comparison of prediction methods, consistency, and limitations with respect to each of the three predictive sources.

On the Spillover Effects of Online Product Reviews on Purchases

Author : Young Kwark
Publisher :
ISBN 13 :
Total Pages : 59 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis On the Spillover Effects of Online Product Reviews on Purchases by : Young Kwark

Download or read book On the Spillover Effects of Online Product Reviews on Purchases written by Young Kwark and published by . This book was released on 2020 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze the spillover effects of the online reviews of other co-visited products on the purchases of a focal product using clickstream data from a large retailer. Drawing upon signaling theory, as online reviews serve as signals, the proposed spillover effects are moderated by: (a) whether the related (co-visited) products are complementary or substitutive, (b) the choice of media channel (mobile or PC) used, (c) whether the related products are from the same or a different brand, and (d) consumer experience and (e) the variance of the review ratings. To identify complementary and substitutive products, we develop supervised machine-learning models based on product characteristics, such as product category and brand, and novel text-based similarity measures; to train and validate the machine-learning models, we use product-pair labels from Amazon Mechanical Turk. Our results show that the mean rating of substitutive products has a negative effect on the purchasing of the focal product, while that of complementary products has a positive effect on the focal product purchases. Interestingly, the magnitude of the spillover effects of the mean ratings of co-visited (substitutive and complementary) products is larger than the effects on the focal product, especially for complementary products. The spillover effect of ratings is stronger for consumers who use mobile devices versus PCs. We find that the negative effect of the mean ratings of substitutive products across different brands in the purchasing of a focal product is significantly higher than those within the same brand. Lastly, we find that the effect of the mean ratings is stronger for less-experienced consumers and for ratings with lower variance. We conclude with theoretical, managerial, and design implications on leveraging the spillover effect of the online product reviews of related products to encourage online purchases.

Marketing Models

Author : Gary L. Lilien
Publisher : Prentice Hall
ISBN 13 : 9780135456415
Total Pages : 803 pages
Book Rating : 4.4/5 (564 download)

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Book Synopsis Marketing Models by : Gary L. Lilien

Download or read book Marketing Models written by Gary L. Lilien and published by Prentice Hall. This book was released on 1992 with total page 803 pages. Available in PDF, EPUB and Kindle. Book excerpt: The view of this book is that there are essentially three purposes for modeling in marketing: measuring marketing actions and outcomes, developing operational support for marketing decisions, and explaining marketing observations or phenomena.

Marketing in a Digital World

Author : Aric Rindfleisch
Publisher : Emerald Group Publishing
ISBN 13 : 1787563391
Total Pages : 248 pages
Book Rating : 4.7/5 (875 download)

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Book Synopsis Marketing in a Digital World by : Aric Rindfleisch

Download or read book Marketing in a Digital World written by Aric Rindfleisch and published by Emerald Group Publishing. This book was released on 2019-09-19 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Marketing in a Digital World consists of nine essays on how the digital revolution has affected marketing theory and practice. Leading marketing scholars, including several editors of premier academic journals, provide fresh insights for both scholars and managers seeking to enhance their understanding of marketing in a digital world.

The Economics of the Internet and E-commerce

Author : Michael R. Baye
Publisher : Elsevier
ISBN 13 : 0762309717
Total Pages : 280 pages
Book Rating : 4.7/5 (623 download)

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Book Synopsis The Economics of the Internet and E-commerce by : Michael R. Baye

Download or read book The Economics of the Internet and E-commerce written by Michael R. Baye and published by Elsevier. This book was released on 2002-10-31 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first six chapters of the text examine four broad issues: the role of the Internet in fostering competition, its impact on price dispersion and on business-to-business transactions, and the importance of reputation and trust in the new economy. The last four chapters examine the impact of the Internet on the organization of firms, the efficiency of auctions in the Internet age, how consumers choose websites and acquire product information, and the growing problem of congestion on the Internet.

From Little's Law to Marketing Science

Author : John R. Hauser
Publisher : MIT Press
ISBN 13 : 026202991X
Total Pages : 497 pages
Book Rating : 4.2/5 (62 download)

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Book Synopsis From Little's Law to Marketing Science by : John R. Hauser

Download or read book From Little's Law to Marketing Science written by John R. Hauser and published by MIT Press. This book was released on 2016-01-15 with total page 497 pages. Available in PDF, EPUB and Kindle. Book excerpt: The legacy of a pioneer in operations research and marketing science.

Social Media Intelligence

Author : Wendy W. Moe
Publisher : Cambridge University Press
ISBN 13 : 1107656036
Total Pages : 205 pages
Book Rating : 4.1/5 (76 download)

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Book Synopsis Social Media Intelligence by : Wendy W. Moe

Download or read book Social Media Intelligence written by Wendy W. Moe and published by Cambridge University Press. This book was released on 2014-02-24 with total page 205 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the world of Facebook, Twitter and Yelp, water-cooler conversations with co-workers and backyard small talk with neighbors have moved from the physical world to the digital arena. In this new landscape, organizations ranging from Fortune 500 companies to government agencies to political campaigns continuously monitor online opinions in an effort to guide their actions. Are consumers satisfied with our product? How are our policies perceived? Do voters agree with our platform? Measuring online opinion is more complex than just reading a few posted reviews. Social media is replete with noise and chatter that can contaminate monitoring efforts. By knowing what shapes online opinions, organizations can better uncover the valuable insights hidden in the social media chatter and better inform strategy. This book can help anyone facing the challenge of making sense of social media data to move beyond the current practice of social media monitoring to a more comprehensive use of social media intelligence.

Portfolio Risk Analysis

Author : Gregory Connor
Publisher : Princeton University Press
ISBN 13 : 1400835291
Total Pages : 400 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis Portfolio Risk Analysis by : Gregory Connor

Download or read book Portfolio Risk Analysis written by Gregory Connor and published by Princeton University Press. This book was released on 2010-03-15 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: Portfolio risk forecasting has been and continues to be an active research field for both academics and practitioners. Almost all institutional investment management firms use quantitative models for their portfolio forecasting, and researchers have explored models' econometric foundations, relative performance, and implications for capital market behavior and asset pricing equilibrium. Portfolio Risk Analysis provides an insightful and thorough overview of financial risk modeling, with an emphasis on practical applications, empirical reality, and historical perspective. Beginning with mean-variance analysis and the capital asset pricing model, the authors give a comprehensive and detailed account of factor models, which are the key to successful risk analysis in every economic climate. Topics range from the relative merits of fundamental, statistical, and macroeconomic models, to GARCH and other time series models, to the properties of the VIX volatility index. The book covers both mainstream and alternative asset classes, and includes in-depth treatments of model integration and evaluation. Credit and liquidity risk and the uncertainty of extreme events are examined in an intuitive and rigorous way. An extensive literature review accompanies each topic. The authors complement basic modeling techniques with references to applications, empirical studies, and advanced mathematical texts. This book is essential for financial practitioners, researchers, scholars, and students who want to understand the nature of financial markets or work toward improving them.

Digital and Social Media Marketing

Author : Nripendra P. Rana
Publisher : Springer Nature
ISBN 13 : 3030243745
Total Pages : 337 pages
Book Rating : 4.0/5 (32 download)

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Book Synopsis Digital and Social Media Marketing by : Nripendra P. Rana

Download or read book Digital and Social Media Marketing written by Nripendra P. Rana and published by Springer Nature. This book was released on 2019-11-11 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

The SAGE Encyclopedia of Communication Research Methods

Author : Mike Allen
Publisher : SAGE Publications
ISBN 13 : 1483381420
Total Pages : 2013 pages
Book Rating : 4.4/5 (833 download)

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Book Synopsis The SAGE Encyclopedia of Communication Research Methods by : Mike Allen

Download or read book The SAGE Encyclopedia of Communication Research Methods written by Mike Allen and published by SAGE Publications. This book was released on 2017-04-11 with total page 2013 pages. Available in PDF, EPUB and Kindle. Book excerpt: Communication research is evolving and changing in a world of online journals, open-access, and new ways of obtaining data and conducting experiments via the Internet. Although there are generic encyclopedias describing basic social science research methodologies in general, until now there has been no comprehensive A-to-Z reference work exploring methods specific to communication and media studies. Our entries, authored by key figures in the field, focus on special considerations when applied specifically to communication research, accompanied by engaging examples from the literature of communication, journalism, and media studies. Entries cover every step of the research process, from the creative development of research topics and questions to literature reviews, selection of best methods (whether quantitative, qualitative, or mixed) for analyzing research results and publishing research findings, whether in traditional media or via new media outlets. In addition to expected entries covering the basics of theories and methods traditionally used in communication research, other entries discuss important trends influencing the future of that research, including contemporary practical issues students will face in communication professions, the influences of globalization on research, use of new recording technologies in fieldwork, and the challenges and opportunities related to studying online multi-media environments. Email, texting, cellphone video, and blogging are shown not only as topics of research but also as means of collecting and analyzing data. Still other entries delve into considerations of accountability, copyright, confidentiality, data ownership and security, privacy, and other aspects of conducting an ethical research program. Features: 652 signed entries are contained in an authoritative work spanning four volumes available in choice of electronic or print formats. Although organized A-to-Z, front matter includes a Reader’s Guide grouping entries thematically to help students interested in a specific aspect of communication research to more easily locate directly related entries. Back matter includes a Chronology of the development of the field of communication research; a Resource Guide to classic books, journals, and associations; a Glossary introducing the terminology of the field; and a detailed Index. Entries conclude with References/Further Readings and Cross-References to related entries to guide students further in their research journeys. The Index, Reader’s Guide themes, and Cross-References combine to provide robust search-and-browse in the e-version.

Law and the "Sharing Economy"

Author : Derek McKee
Publisher : University of Ottawa Press
ISBN 13 : 0776627538
Total Pages : 559 pages
Book Rating : 4.7/5 (766 download)

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Book Synopsis Law and the "Sharing Economy" by : Derek McKee

Download or read book Law and the "Sharing Economy" written by Derek McKee and published by University of Ottawa Press. This book was released on 2018-11-27 with total page 559 pages. Available in PDF, EPUB and Kindle. Book excerpt: Controversy shrouds sharing economy platforms. It stems partially from the platforms’ economic impact, which is felt most acutely in certain sectors: Uber drivers compete with taxi drivers; Airbnb hosts compete with hotels. Other consequences lie elsewhere: Uber is associated with a trend toward low-paying, precarious work, whereas Airbnb is accused of exacerbating real estate speculation and raising the cost of long-term rental housing. While governments in some jurisdictions have attempted to rein in the platforms, technology has enabled such companies to bypass conventional regulatory categories, generating accusations of “unfair competition” as well as debates about the merits of existing regulatory regimes. Indeed, the platforms blur a number of familiar distinctions, including personal versus commercial activity; infrastructure versus content; contractual autonomy versus hierarchical control. These ambiguities can stymie legal regimes that rely on these distinctions as organizing principles, including those relating to labour, competition, tax, insurance, information, the prohibition of discrimination, as well as specialized sectoral regulation. This book is organized around five themes: technologies of regulation; regulating technology; the sites of regulation (local to global); regulating markets; and regulating labour. Together, the chapters offer a rich variety of insights on the regulation of the sharing economy, both in terms of the traditional areas of law they bring to bear, and the theoretical perspectives that inform their analysis. Published in English.

New-Product Diffusion Models

Author : Vijay Mahajan
Publisher : Springer Science & Business Media
ISBN 13 : 9780792377511
Total Pages : 376 pages
Book Rating : 4.3/5 (775 download)

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Book Synopsis New-Product Diffusion Models by : Vijay Mahajan

Download or read book New-Product Diffusion Models written by Vijay Mahajan and published by Springer Science & Business Media. This book was released on 2000-09-30 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Product-Led Growth

Author : Bush Wes
Publisher :
ISBN 13 : 9781777119317
Total Pages : 276 pages
Book Rating : 4.1/5 (193 download)

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Book Synopsis Product-Led Growth by : Bush Wes

Download or read book Product-Led Growth written by Bush Wes and published by . This book was released on 2019-05 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Product-Led Growth is about helping your customers experience the ongoing value your product provides. It is a critical step in successful product design and this book shows you how it's done." - Nir Eyal, Wall Street Journal Bestselling Author of "Hooked"