New media marketing discussion
1:Explain the concept of bonded rationality as it relates to social shopping. What is thinslicing?( no more than 100 words)
and reply one comment from others( no more than 100 words):
Bounded rationality is the idea that in decision-making, rationality of individuals is limited by the information they have, the cognitive limitations of their minds, and the finite amount of time they have to make a decision.
thinslicing is the process of make a decision by taking out useless information and restore the product truth after get some enlightenment.
2:Which is more influential- reviews from experts or reviews from customers. Explain and give examples supporting your view. ( no more than 300 words)
and reply on comment from others ( no more than 200 words):
1. Expert Reviews Vs. Customer Views
COLLAPSE
In the past, customers have based their buying decisions off of marketing information from companies or recomendations from friends. Today, buying decisions are being driven more and more by customer reviews. Social media and e-commerce have served as convenient platforms for consumer review conversations between friends and between complete strangers. The upsurge in online reviews has obvious benefits for both businesses and their consumers.
Consumers reviews have become substantially more trusted than product reviews published by manufacturers. More trust is built with peer-to-peer information, and these kind of reviews have the type of information that consumers are looking for. Consumers are searching across the internet and on specific review websites in order to better understand what it's like to own or use the goods they're considering. I believe that people are more likely to buy a product from a website that supplies consumer reviews because they are substantially more trusted. Even the occassional negative review or comment about a business that is posted in a peer-to-peer review can prove to be beneficial for them because it makes the positive reviews more believable.
Especially during the holiday seasons, it is important not to underestimate the power of online reviews. I believe that reviews from customers are becoming more and more influential and have passed the influence of expert reviews in certain industries. Customer reviews have become an important part of guiding retail and consumer behavior. Retailers are beginning to pay more and more attention to feedback from these reviews in order to meet expectations and improve relationships with customers.
3:Search Facebook for brands you like until you find one with a Social storefront (Shop Tab). Explore the Shop Tab. is a recommendation tool included in the page? Can you add products to your shopping cart and check out from within the page? What could make the store front more effective in your opinion? ( no more than 100 words)