What Marketers Misunderstand About Online Reviews – Harvard Business Review
The article discusses the effect that user-generated online reviews and peer-to-peer information exchange through social media has on consumer behavior as of 2014, and recommends marketing strategies based on how consumers obtain and process product information. According to the article, managers must understand the influences that affect customers’ purchase decisions, including their prior preferences, beliefs, experiences, and input from others, which the article calls the “O continuum.” Competitive position, communication, market research, and product segmentation are also mentioned. INSET: Upending the “Compromise Effect”.