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 | |
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 | ||
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) |