Premium
Word‐of‐mouth and the forecasting of consumption enjoyment
Author(s) -
He Stephen X.,
Bond Samuel D.
Publication year - 2013
Publication title -
journal of consumer psychology
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 4.433
H-Index - 110
eISSN - 1532-7663
pISSN - 1057-7408
DOI - 10.1016/j.jcps.2013.04.001
Subject(s) - word of mouth , consumption (sociology) , psychology , product (mathematics) , value (mathematics) , consumer behaviour , test (biology) , advertising , econometrics , social psychology , marketing , statistics , economics , business , sociology , mathematics , social science , geometry , paleontology , biology
The digital era has permitted rapid transfer of peer knowledge regarding products and services. In the present research, we explore the value of specific types of word‐of‐mouth information (numeric ratings and text commentary) for improving forecasts of consumption enjoyment. We present an anchoring‐and‐adjustment model in which the relative forecasting error associated with ratings and commentary depends on the extent to which consumer and reviewer have similar product‐level preferences. To test our model, we present four experiments using a range of hedonic stimuli. Implications for the provision of consumer WOM are discussed.