Integrating Social Networks into Marketing Decision Models

Xi Chen (), Ralf van der Lans () and Michael Trusov ()
Additional contact information
Xi Chen: Erasmus University Rotterdam
Ralf van der Lans: Hong Kong University of Science and Technology
Michael Trusov: University of Maryland

Chapter Chapter 17 in Handbook of Marketing Decision Models, 2017, pp 505-529 from Springer

Abstract: Abstract The rise of online social networks has been the most significant development on the Internet in the last decade. It has not only transformed how consumers interact with each other, but also affected the way companies communicate with their customers. This development has also offered a wealth of data to better understand social interactions between consumers and to optimize marketing strategies in the presence of social influence. In this chapter, the authors provide a generalized framework to integrate social network data into traditional marketing decision models. The authors show how their framework nests several existing approaches to deal with social network data. They also discuss the empirical challenges researchers may encounter and possible solutions.

Date: 2017
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DOI: 10.1007/978-3-319-56941-3_17

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