Weitere Artikel dieser Ausgabe durch Wischen aufrufen
Online buzz reflects the perceived quality of products in a positive, negative, or neutral way. We have limited understanding of how customers’ quality perceptions, often referred to as e-sentiment, affect the movement of prices. In this paper, we examine the effect of e-sentiment on the daily price fluctuations of MP3 players by using daily buzz information collected from diverse online documents. Econometric panel data modeling reveals that e-sentiment is a leading indicator of price fluctuations. Furthermore, we find the effect is moderated by the brand’s market position: the leading (challenger) brand’s price responds more strongly to negative (positive) online buzz. In other words, negative buzz has a greater adverse effect on leading brands, whereas positive buzz has a greater beneficial effect on challenger brands. These findings establish the relevance of e-sentiment information to online price movements and suggest that managers should frequently monitor the online buzz surrounding their products, especially as it relates to their relative perceived quality.
Bitte loggen Sie sich ein, um Zugang zu diesem Inhalt zu erhalten
Sie möchten Zugang zu diesem Inhalt erhalten? Dann informieren Sie sich jetzt über unsere Produkte:
Alba, J., Lynch, J., Weitz, B., Janiszewski, C., Lutz, R., & Sawyer, A. (1997). Interactive home shopping: Consumer, retailer, and manufacturer incentives to participate in electronic marketplaces. Journal of Marketing,61(3), 38–53. CrossRef
Arndt, J. (1968). Word-of-mouth advertising and perceived risk. In H. Kassarjian & T. Robertson (Eds.), Perspectives in consumer behavior. IL: Scott Foresman, Glenview.
Bajari, P., & Benkard, C. L. (2005). Demand estimation with heterogeneous consumers and unobserved product characteristics: A hedonic approach. Journal of Political Economy,113(6), 1239–1276. CrossRef
Bajari, P., Cooley-Fruehwirth, J., Kim, K. I., & Timmins, C. (2012). A rational expectation approach to hedonic regressions with time-varying unobserved product attributes: The price of pollution. American Economic Review,102(5), 1898–1926. CrossRef
Bajari, P., & Hortacsu, A. (2004). Economic insights from internet auctions. Journal of Economic Literature,42(2), 457–486. CrossRef
Bakos, Y. (2001). The emerging landscape for retail e-commerce. Journal of Economic Perspectives,15(1), 69–80. CrossRef
Barwise, P., & Meehan, S. (2004). SIMPLY BETTER: Winning and keeping customers by delivering what matters most. Boston, MA: Harvard Business School Press.
Bass, F. (1969). A new product growth model for consumer durables. Management Science,15, 215–227. CrossRef
Baye, M. B., Morgan, J., & Scholten, P. (2004). Price dispersion in the small and large: Evidence from an internet price comparison site. Journal of Industrial Economics,52(4), 463–496. CrossRef
Baye, M. B., Morgan, J., & Scholten, P. (2004). Temporal price dispersion: Evidence from an online consumer electronics market. Journal of Interactive Marketing,18(4), 101–115. CrossRef
Bridges, E., Yim, C. K., & Briesch, R. A. (1995). A high-tech product market with customer expectations. Marketing Science,14(1), 61–81. CrossRef
Brynjolfsson, E., & Smith, M. (2000). Frictionless commerce? A comparison of internet and conventional retailers. Management Science,46, 563–585. CrossRef
Brynjolfsson, E., Hu, Y., & Smith, M. D. (2006). From niches to riches: The anatomy of the long tail. Sloan Management Review,47(4), 67–71.
Chen, Y., & Xie, J. (2005). Third-party product review and firm marketing strategy. Marketing Science,24(2), 218–240. CrossRef
Chen, Y., & Xie, J. (2008). Online consumer review: Word-of-mouth as a new element of marketing communication mix. Management Science,54(3), 477–491. CrossRef
Chevalier, J. A., & Goolsbee, A. (2003). Measuring prices and price competition online: Amazon.com and BarnesandNobles.com. Quantitative Marketing & Economics,1(2), 203–222. CrossRef
Chevalier, J. A., & Mayzlin, D. (2006). The effect of word-of-mouth on sales: Online book reviews. Journal of Marketing Research,43(3), 345–354. CrossRef
Chintagunta, P. K., Gopinath, S., & Venkataraman, S. (2010). The effects of online user reviews on movie box office performance: Accounting for sequential rollout and aggregation across local markets. Marketing Science,29(5), 944–957. CrossRef
Clay, K., Krishnan, R., Wolff, E., & Fernandes, D. (2002). Retail strategies on the Web: Price and non-price competition in the online book industry. Journal of Industrial Economics,50(3), 351–367. CrossRef
Davidson, R., & MacKinnon, J. G. (1993). Estimation and inference in econometrics. NY: Oxford University Press.
Dellarocas, C. N. (2003). The digitization of word-of-mouth: Promise and challenges of online reputation mechanisms. Management Science,49(10), 1407–1424. CrossRef
Dellarocas, C. N. (2006). Strategic manipulation of internet online forums: Implications for consumers and firms. Management Science,52(10), 1577–1593. CrossRef
Dellarocas, C. N., Zhang, X., & Awad, N. (2007). Exploring the value of online product reviews in forecasting sales: The case of motion pictures. Journal of Interactive Marketing,21(4), 23–45. CrossRef
Dellarocas, C. N., & Wood, C. A. (2008). The sound of silence in online feedback: Estimating trading risks in the presence of reporting bias. Management Science,54(3), 460–476. CrossRef
Dowling, G. R., & Staelin, R. (1994). A model of perceived risk and intended risk-handling activity. Journal of Consumer Research,21(1), 119–134. CrossRef
East, R., Hammond, K., & Lomax, W. (2008). Measuring the impact of positive and negative word of mouth on brand purchase probability. International Journal of Research in Marketing,25, 215–224. CrossRef
Ellison, G., & Ellison, S. F. (2005). Lessons about markets from the internet. Journal of Economic Perspectives,19(2), 139–158. CrossRef
Enders, W. (2004). Applied econometric time series (2nd ed.). New York: Wiley.
Fiske, S. T. (1980). Attention and weight in person perception: The impact of negative and extreme behavior. Journal of Personality and Social Psychology,38(6), 889–906. CrossRef
Gantenbein, D. Good reasons to post customer reviews on your site, Microsoft.com. Downloaded on 19 November, 2010 from http://www.microsoft.com/midsizebusiness/business-goals/crm-solutions/obtaining-customer-reviews.mspx.
Godes, D., & Mayzlin, D. (2004). Using online conversations to study word-of-mouth communication. Marketing Science,23(4), 545–560. CrossRef
Godes, D., Mayzlin, D., Chen, Y., Das, S., Dellarocas, C., Pfeiffer, B., et al. (2005). The firm’s management of social interactions. Marketing Letters,16(3/4), 415–428.
Gopinath, S., Chintagunta, P. K., & Venkataraman, S. (2013). Blogs, advertising and local-market movie box-office performance. Management Science (Articles in Advance),59, 1–20.
Greene, W. H. (2003). Econometric analysis (5th ed.). Upper Saddle River, NJ: Prentice Hall.
Gu, B., Park, J., & Konana, P. (2012). The impact of external word-of-mouth sources on retailer sales of high-involvement products. Information Systems Research,23(1), 182–196. CrossRef
Herr, P., Kardes, F., & Kim, J. (1991). Effects of word-of-mouth and product attribute information on persuasion: An accessibility-diagnosticity perspective. Journal of Consumer Research,17, 454–462. CrossRef
Hotho, A., Staab S., & Stumme, G. (2003). Ontologies improve text document clustering. In Third IEEE international conference on data mining (pp. 541–544).
Jarvis, J. (2009). Googlenomics (1st ed.). New York: HarperCollins.
Landsman, S. (2013). Love it or leave it: Growing power of customer reviews. CNBC.com. downloaded on August 31, 2013 from http://www.cnbc.com/100792646.
Lee, J., Park, D., & Han, I. (2008). The effect of negative online consumer reviews on product attitude: An information processing view. Electronic Commerce Research and Applications,7(3), 341–352. CrossRef
Li, X., & Hitt, L. M. (2010). Price effects in online product reviews: An analytical model and empirical analysis. MIS Quarterly,34(4), 809–831.
Liu, Y. (2006). Word-of-mouth for movies: Its dynamics and impact on box office revenue. Journal of Marketing,70(3), 74–89. CrossRef
McAlister, L., Sonnier, G., & Shively, T. (2012). The relationship between online chatter and firm value. Marketing Letters,23(1), 1–12. CrossRef
Meyer, R., & Johnson, E. J. (1995). Empirical generalizations in the modeling of consumer choice. Marketing Science,14(3) Part 2 of 2 G180-189.
Nasukawa, T., & Yi J. (2003). Sentiment analysis: Capturing favorability using natural language processing. In Second international conference on knowledge capture (pp 70–77) (October).
Phillips, J., & Buchanan, B.G. (2001). Ontology-guided knowledge discovery in databases. In International conference on knowledge capture (pp. 123–130).
Rao, A. R., & Monroe, K. B. (1996). Causes and consequences of price premiums. Journal of Business,64, 511–536. CrossRef
Reingen, P., Foster, B., Brown, J. J., & Seidman, S. (1984). Brand congruence in interpersonal relations: A social network analysis. Journal of Consumer Research,11, 1–26. CrossRef
Richins, M. L. (1983). Negative word-of-mouth by dissatisfied consumers: A pilot study. Journal of Marketing,47, 68–78. CrossRef
Sen, S., & Lerman, D. (2007). Why are you telling me this? An examination into negative consumer reviews on the Web. Journal of Interactive Marketing.,4, 76–94. CrossRef
Senecal, S., & Nantel, J. (2004). The influence of online product recommendations on consumers’ online choices. Journal of Retailing,80(2), 159–169. CrossRef
Schindler, R. M., & Bickart, B. (2004). Published word of mouth: Referable, consumer-generated information on the internet. In C. Haugtvedt, K. A. Machleit, & R. F. Yalch (Eds.), Online consumer psychology: Understanding and influencing customer behavior in the virtual world, chap. 2 (pp. 35–60). Mahwah, NJ: Lawrence Erlbaum Associates.
Schneider, H., & Albers, S. (2008). Retailer competition in shopbots. SSRN Working Paper. Available at SSRN: http://ssrn.com/abstract=1078505.
Shin, H. S. (2008). Strategic and financial implications of new product quality. UCLA Doctoral Dissertation.
Sonnier, G. P., McAlister, L., & Rutz, O. J. (2011). A dynamic model of the effect of online communications on firm sales. Marketing Science,30(4), 702–716. CrossRef
Sotiriadis, M. D., & Zyl, C. (2013). Electronic word-of-mouth and online reviews in tourism services: the use of twitter by tourists. Electronic Commerce Research,13(1), 103–124. CrossRef
Tellis, G. J., & Johnson, J. (2007). The value of quality. Marketing Science,26(6), 758–773. CrossRef
Wagner, M. (2008). The power of customer reviews, internetretailer.com (February 2008). Downloaded on March 4, 2008 from www.internetretailer.com/printArticle.asp?id=25215.
Yi, J., Nasukawa, T., Bunescu, R., & Niblack, W. (2004) Sentiment analyzer: Extracting sentiments about a given topic using natural language processing techniques. In The third IEEE international conference on data mining (pp. 427–434) (November).
Zeithaml, V. A. (1988). Consumer perceptions of price, quality and value: A means-end model and synthesis of evidence. Journal of Marketing,52, 2–22. CrossRef
Zhu, F., & Zhang, X. (2010). Impact of online consumer reviews on sales: The moderating role of product and consumer characteristics. Journal of Marketing,74(2), 133–148. CrossRef
Zeithaml, V. A., Berry, L. L., & Parasuraman, A. (1988). Communication and control processes in the delivery of service quality. Journal of Marketing,52, 35–48. CrossRef
Zeithaml, V. A., Berry, L. L., & Parasuraman, A. (1993). The nature and determinants of customer expectations of service. Journal of the Academy of Marketing Science,21(1), 1–12. CrossRef
- The role of online buzz for leader versus challenger brands: the case of the MP3 player market
Hyun S. Shin
Dominique M. Hanssens
Kyoo il Kim
- Springer US
Die Corporate Supply Strategy bei Phoenix Contact GmbH & Co. KG/© [M] michalchm89 | Fotolia