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The Impact of Electronic Word-of-Mouth on Consumers and Firms

Simon Monske investigates the influence of electronic word-of-mouth (eWOM) on consumers’ information search strategies as well as how firms can measure and strategically utilize eWOM. Based on pre-studies and an eye-tracking online experiment, the author empirically shows that consumers focus on product reviews in the beginning of information search and target product specifications before purchase decision. Moreover, Simon Monske evaluates a comprehensive firm survey and demonstrates that German firms would derive a competitive advantage by pro-foundly analyzing eWOM data but lack organizational processes to strategically utilize the gained insights.

Simon Monske untersucht zum einen den Einfluss von elektronischer Mundpropaganda (eWOM) auf die Informationssuchstrategien von Konsumenten und zum anderen wie Unternehmen e-WOM messen und strategisch nutzen können. Auf Basis von Vorstudien und einem Eye-Tracking Online-Experiments weist der Autor empirisch nach, dass Konsumenten am Anfang der Informationssuche verstärkt Meinungen anderer Konsumenten lesen und vor der Kaufentscheidung Produktspezifikationen evaluieren. Zudem wertet Simon Monske eine umfangreiche Unternehmensbefragung aus und zeigt auf, dass deutsche Firmen mit einer fundierten Analyse von eWOM-Daten einen Wettbewerbsvorteil erlangen würden. Für die strategische Verwendung gewonnener Erkenntnisse fehlt es den Unternehmen jedoch an organisatorischen Prozessen.

Titel: The Impact of Electronic Word-of-Mouth on Consumers and Firms
Verfasser: Monske, Simon
Gutachter: Wiesel, Thorsten Normdaten
Dokumenttyp: Dissertation/Habilitation
Medientyp: Text
Erscheinungsdatum: 2018
Publikation in MIAMI: 27.08.2018
Datum der letzten Änderung: 04.10.2018
Reihe Wissenschaftliche Schriften der WWU Münster / Reihe IV ; 14
Verlag/Hrsg.: Readbox Unipress / Münster (Westf)
Schlagwörter: Electronic Word-Of-Mouth; Product Reviews; Information Search; Customer Journey; Social Media Monitoring; Eye-Tracking; Cluster Analysis
Electronic Word-Of-Mouth; Produktrezensionen; Informationssuche; Kaufentscheidung; Social Media Monitoring; Eye-Tracking; Clusteranalyse
Fachgebiete: Sozialwissenschaften, Soziologie, Anthropologie; Wirtschaft
Lizenz: CC BY-SA 4.0
Sprache: Englisch
Anmerkungen: Auch im Buchhandel erhältlich: The Impact of Electronic Word-of-Mouth on Consumers and Firms / Simon Monske. – Münster : Readbox Unipress, 2018. – VI, 278 S. (Wissenschaftliche Schriften der WWU Münster : Reihe IV; Bd. 14), ISBN 978-3-8405-0178-4, Preis: 24,20 EUR
Format: PDF-Dokument
ISBN: 978-3-8405-0178-4
URN: urn:nbn:de:hbz:6-19149601146
Permalink: https://nbn-resolving.org/urn:nbn:de:hbz:6-19149601146
Onlinezugriff:
Inhalt:
Table of Contents ..... I
List of Figures ..... V
List of Tables ..... VII
List of Abbreviations ..... IX
List of Appendices ..... XI
1 Introduction to Electronic Word-of-Mouth ..... 1
1.1. Relevance ..... 1
1.2. Overall Research Gaps ..... 3
1.3. Aims and Structure of the Dissertation ..... 7
2 Literature Review of Electronic Word-of-Mouth ..... 15
2.1. Theoretical Foundations and Definitions of eWOM and Social Media ..... 15
2.2. Antecedents of eWOM ..... 18
2.2.1. eWOM Senders ..... 18
2.2.2. eWOM Receivers ..... 20
2.3. eWOM Characteristics ..... 22
2.3.1. Volume ..... 23
2.3.2. Valence ..... 24
2.3.3. Variance ..... 30
2.3.4. Helpfulness ..... 31
2.4. eWOM Communication Platforms ..... 32
2.4.1. Review Platforms ..... 35
2.4.2. Social Media Sites ..... 35
2.4.3. e-Commerce Platforms ..... 39
2.5. Product Type Moderators ..... 39
2.6. eWOM Measurement ..... 41
2.6.1. Definitions of eWOM Measurement ..... 43
2.6.2. eWOM Measurement Criteria ..... 44
2.7. eWOM Management ..... 47
2.8. Impact of eWOM on Consumers ..... 49
2.8.1. Consumer Decision-Making Process ..... 50
2.8.2. Hierarchical Sets of Product Alternatives ..... 53
2.8.3. Critical Reflection on the Consumer Decision-Making Process ..... 54
2.8.4. Impact of eWOM on the Consumer Decision-Making Process ..... 56
2.9. Impact of eWOM on Firms ..... 57
2.10. Identified Research Gaps ..... 59
2.10.1. Consuming eWOM ..... 59
2.10.2. Measuring eWOM ..... 63
2.10.3. Managing eWOM ..... 66
3 Study 1: Segmenting Consumer’s Decision-Making Strategies Based on eWOM and Product Information ..... 69
3.1. Introduction ..... 69
3.2. Theoretical background ..... 73
3.3. Study Design ..... 82
3.3.1. Experiment Setup ..... 85
3.3.2. Data ..... 93
3.3.3. Methodology ..... 105
3.4. Results ..... 107
3.5. Discussion and Managerial Implications ..... 116
4 Study 2: Development of an Electronic Word-of-Mouth Measurement Tool ..... 121
4.1. Introduction ..... 121
4.2. Theoretical Background ..... 125
4.3. Measurement Development ..... 126
4.3.1. Search and Collect ..... 128
4.3.2. Process and Analyze ..... 129
4.3.3. Calculate Digital Sentiment Index ..... 133
4.4. Impact Areas ..... 135
4.5. Discussion and Managerial Implications ..... 139
5 Study 3: Social Media Intelligence – Implications for Firms in Managing Electronic Word-of-Mouth ..... 141
5.1. Introduction ..... 141
5.2. Theoretical background ..... 145
5.3. Study Design ..... 155
5.3.1. Data ..... 156
5.3.2. Methodology ..... 170
5.4. Results ..... 171
5.5. Discussion and Managerial Implications ..... 178
6 General Discussion ..... 183
6.1. Contributions and Links Between Chapters ..... 184
6.2. Summary of Dissertation Projects ..... 187
6.2.1. Segmenting Consumer’s Decision-Making Strategies Based on eWOM and Product Information ..... 187
6.2.2. Development of an Electronic Word-of-Mouth Measurement Tool ..... 188
6.2.3. Social Media Intelligence – Implications for Firms in Managing Electronic Word-of-Mouth ..... 188
6.3. Summary of Research Gaps, Major Results, and Managerial Implications ..... 189
6.4. Outlook to the Future ..... 193
7 Appendix ..... 195
8 References ..... 249