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January 16, 2023 —
Asper Associate Professor Hee Mok Park, Ph.D., and co-authors Tae-Hyung Pyo, Ph.D., and Jae Young Lee, Ph.D., examine the phenomenon of social contagion through the lens of consumer preferences and peer influence on their willingness to try new experiential products. increase. Their study, “The Influence of Consumer Preferences and Peer Influences on Good Attempts at Experiences,” was published in the Journal of Marketing Research (JMR). JMR is an FT50 journal published by the American Marketing Association for research on marketing and marketing research practices.
The study compares which industry peers are more influential according to how well their products fit consumer preferences. The authors examined the effects on the cognitive and appraisal stages and compared the influence of peers regardless of whether their preferences were similar.
In their paper, Park and co-authors found that people with similar tastes were more influential in persuading someone to try a product that didn’t suit them. We also found that people with very different tastes were more influential in persuading someone to try a product that might suit their tastes. This is because it can increase awareness of this new product.
The study is based on analysis of consumer-level data collected from Last.fm, a popular music social networking platform. The findings are broadly applicable to other settings of consumer experience, such as movies, games, restaurants, etc., where people choose whether or not to try something based solely on readily available information.
Marketing professionals in the online platform space can also benefit from surveys by using social contagion to highlight products that suit individual tastes. Additionally, online platforms that use product recommendation algorithms can be further refined using survey results.
“There are many studies showing that peers with similar preferences (for products) can have a significant impact on consumer purchasing behavior. It provides the counter-intuitive finding that dissimilar peers can be more influential than similar peers when well-matched to consumer preferences.” , we believe provide helpful guidelines for marketing professionals in designing product recommendation systems within online social platforms.”
Park is an Assistant Professor of Marketing at the Asper School of Business and a F. Ross Johnson Fellow. His specialty is social networks. He is in marketing and teaches a marketing analytics course. This is his second published on his FT50 in 2022, as a co-authored paper titled “Social and Spatiotemporal Impacts of Casino Jackpot Events” was published in Marketing Science in January 2022. ‘s paper.
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