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Table 2 The applications of opinion dynamics in marketing

From: Opinion dynamics in finance and business: a literature review and research opportunities

Opinion expression format Modeling of opinion dynamics in marketing Characteristics Models References
Continuous opinions Advertising and word of mouth Adoption of new products CODA model Martins et al. (2009) and Luo et al. (2014)
Word of mouth Prediction BC model Salehi and Taghiyareh (2014)
Word of mouth Influence maximization Independent cascade model Nazemian and Taghiyareh (2012) and Vadoodparast et al. (2014)
Advertising and word of mouth Influence maximization Independent cascade model Maghami and Sukthankar (2012, 2013)
Word of mouth Prediction Agent based simulation Günther et al. (2011)
Advertising and word of mouth Optimal advertising policies FJ model Chasparis and Shamma (2012)
Advertising and word of mouth Marketing competition DeGroot model Varma et al. (2017)
Discrete opinions Advertising and word of mouth Marketing competition Voter model Bimpikis et al. (2016)
Advertising and word of mouth Influence of advertising Sznajd model Schulze (2003), Sznajd-Weron and Weron (2003), Sznajd-Weron (2005) and Situngkir (2007)