Making new products go viral and succeed |
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Authors: | Hang T Nguyen Malika Chaudhuri |
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Institution: | 1. Eli Broad College of Business, Michigan State University, Department of Marketing, 632 Bogue Street, East Lansing, MI 48824, United States of America;2. School of Business Administration, University of Dayton, Department of Management and Marketing, 300 College Park, Dayton, OH 45469, United States of America |
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Abstract: | Why are some new product introductions more viral and successful than others? This research integrates theories of interpersonal communication and consumer learning to explore this question. Analyzing a unique data set of millions of consumer word-of-mouth transmissions (eWOM) on social media regarding 345 new automobile products introduced during 2008–2015, we find that more innovative products generate more eWOM volume but surprisingly less positive sentiment. These effects vary in magnitude across eWOM channels. However, the use of rich-content communication, pre-announcement, and cobranding strengthens (weakens) the positive (negative) effect of product innovativeness on eWOM volume (sentiment). The results further indicate that eWOM sentiment is a stronger predictor of new product success than eWOM volume. Experimental results reveal more insights into how product innovativeness influences eWOM metrics in several product categories and shed light on the role of excitement and perceived risk as mechanisms underlying these effects. The research offers useful implications for firms to design effective viral marketing campaigns to enhance new product success. |
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Keywords: | Social media Word of mouth Diffusion Innovation Field experiment Brand strategy |
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