WHAT MARKETERS MISUNDERSTAND ABOUT ONLINE REVIEW

SOME MARKETERS NEGLECT ONLINE REVIEWS

TOOLS FOR MANAGERS TO SHIFT MARKETING STRATEGIES

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WHAT AFFECTS CUSTOMER PURCHASE DECISION

P

PRIOR PREFERENCES

PRIOR BELIEFSPRIOR EXPERIENCES

PRIOR EXPERIENCE

EARLIER MARKETS NOW ONLINE SHOPPING

PRIOR BELIEFS EARLIER NON BRANDED NOW BRANDED

PRIOR PREFERENCE EARLIER NOW

M- INFORMATION FROM MAKETERS

O-INPUT FROM OTHER PEOPLE AND INFORMATION SOURCES

O CONTINUUM

The closer your product is to the O-dependent end, the greater the shift in

how consumers gather and evaluate information about it. 

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STRATEGIC IMPILCATIONS can be considered once firms

understand where a product falls on the O continuum

COMPETITVE POSITION

WHEN CUSTOMERS DEPEND MAINLY ON O,BRANDING BECOMES LESS IMP.

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Independent restaurants tend to benefit, while chains and franchises often see their revenues decline.

COMMUNICATION

.

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CONSUMERS turned to ratings and user reviews as their main source of information

Celebrity endorsements are less effective than they once were

Banner ads intended to create or reinforce brand awareness are not very successful

MARKET RESEARCH

Usually market research measures P to predict the product consumers will like by assessing

their past

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For e.g. –marketers wouldn't like combination of cell phone,mp3 player etc into one convergent device

+ + =

 iPHONE HIT THE MARKET

Because people became influenced by O

PRODUCT SEGMENATION

A product’s location on the O continuum often varies across customer segments and from country to country.

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Shoppers in brick-and-mortar stores are often more susceptible to M than online shoppers are

NO GOING BACK

GROWING SUSPICION is subjected when companies is suggested to shift their marketing

mix in recognition of the rising power of O

Yelp, TripAdvisor, and others are becoming increasingly sophisticated at weeding out fake

reviews, and consumers are developing a better sense of which sites they can trust

30% of U.S. consumers say they begin their online purchase research by going to Amazon for product information and reviews

Studies commissioned by Google have found that shoppers consult 10.4 sources of information, on average, before making a purchase.

 Consumers who use smartphone apps such as ShopSavvy to compare prices can minimize the weight of M on their

decisions even on Black Friday. 

success will come to companies which 

closely track the sources of information their 

customers turn to and find the combination of 

marketing channels and tools best suited to the ways those consumers 

decide.