While material purchases are purchases of tangible products that one intends to keep, experiential purchases are purchases of products that must be experienced. Restaurant meals, movies, or vacations are examples of experiential purchases. While there is no official categorization of products into experiential or material, most consumers intuitively know the difference. Through an analysis of […]
Read More… from Buyers of Experiential Products and Consumer Reviews
The amount of data we generate today boggles the mind. As much as 90% of all data in the world today was created in the past 2 years, writes Keith Carter, adjunct associate professor in the Department of Decision Sciences at National University Singapore Business School and author of the book "Actionable Intelligence: A Guide to […]
Read More… from Harness Big Data Using Visualisation Software Tools
Internet-based sales have been growing steadily — companies report a 25% increase in the past year alone, according to a survey of 351 marketing executives. Not surprisingly, investment in digital marketing has also been increasing — companies expect to increase their spending on digital marketing by nearly 11% in the next year while, in contrast, […]
Read More… from Social Media Grabbing a Major Share of the Marketing Budget
Online consumers have come to expect to be able to read customer ratings and reviews as they consider which product or service to buy. On websites such as IMDB, Amazon and Expedia, reviewing the ratings from other customers is an important part of the purchasing process. Rating scales are also used in other contexts, such […]
Read More… from Why Differentiating Rating Scale Labelling is Important
Many Internet retailers give customers the opportunity to review their products on their site, and some Internet companies even specialize in reviews only (e.g. Yelp and TripAdvisor). Given, as research shows, the impact that online customer reviews can have on the success of a product or service, it is no wonder that special attention is […]
Read More… from Online Customers Reviews: Loyalty and Deception
Researchers from New York University’s Stern School of Business and Carnegie Mellon University studied the effects of product rankings in three areas: the direct impact of rankings on consumer behaviour the relationship between rankings and product ratings the important of customized rankings. The research team of Anindya Ghose and Panagiotis G. Ipeirotis, both of Stern, […]
Read More… from Search Engine Ranking: Consumer Behaviour and Revenue
Businesses need to adopt a multichannel mindset when interacting with their customers, because customers use multiple channels and expect relevant, consistent experiences across all of them. This research seeks to identify the key issues, challenges and opportunities that surround multichannel delivery and provide some best practice insight and principles on the elements that are key […]
Read More… from Multichannel Strategies for Better Customer Experience
Online product reviews are becoming an important part of the marketing ‘mix’. In 2012, a study by Bazaarvoice found that 80 per cent of ‘Generation Y’ consumers (those born between 1977 and 1994) are heavily influenced by consumer-generated reviews from strangers when they make purchasing decisions, particularly in categories such as electronics, cars and travel. […]
Read More… from Paid-for Online Product Reviews: The True Price
Plummeting advertising revenues have led many online content providers to experiment with additional sources of revenue. Most often, firms aim to compensate for a loss in advertising revenues by charging consumers for access to online content. However, such a choice is not straightforward since subscription fees typically deter customers, further reducing advertising revenues. Acknowledging the […]
Read More… from If the Price is Right: Charging for Online Content
There are long been various types of communities bringing together like-minded product enthusiasts — from Corvette or 2CV car clubs to Tupperware party groups to the techies dedicated to Java or Apple. When consumers moved en masse to the Internet and to mobile technology, marketers immediately saw the potential for bringing consumers together through social […]
Read More… from Social Dollars and Online Customer Communities
