final assignment
TRANSCRIPT
This internship has served as the first step towards my journey of achieving my
aim.......
And guess what this was the best step I could have taken!!!!
By:Kartik SinglaIndian Institute of Technology(BHU), Varanasi
The presentation tips highlighted by
Jesse Desjardins, Garr Reynolds and Nancy Duarte served as the benchmark for creating
every presentation in a more presentable manner!!
What Marketers
MisunderstandAbout Online Reviews?
With the growing availability of opinions fromexperts and users, the importance of a brand name had diminished.
Past• Buyers depended
on marketing concepts provided by the company.
Present•Buyers now rely on online customer reviews and social media before a purchase.
“Companies need to dramatically shift their marketing strategies to account for the rising power exerted on future customers by the opinions of existing
customers.”
“ On understanding the dependence of
consumers on
‘O Continuum’, companies can
make
strategic changes
in various streams”
Companies in O-dependent markets can improve
their previously established
“Competitive Position” because of the new reviews coming up on every product.
Instead of celebrity endorsements, companies should focus on generating user reviews and
“Communication” of authentic content on internet retail.
“Market research” usually aims to predict the
kinds of products consumers will like by systematic tracking of information from review sites.
Companies should analyze different
“Consumer and product segments”
and tailor their marketing strategies accordingly.
Online Shopping giant “FLIPKART” grew into a 5000 crore venture byanalyzing the requirement and reviews
from its customers!!
Social media played a huge role in
AAP’s success in both the 2013 and
2015 assembly elections in Delhi.
Many review websites such as realreviews.in and onlinereviewpal.com have come up in India exclusively with
the customer reviews in every field.
This case studied effects of online reviews on intentions of existing and potential
customers with regard to
“Bangalore Realty Limited- BRL.”,
which included 221 online reviews and interviews from 25 customers!
Help customers for making decisions about ‘continuance’ or ‘withdrawal’ or ‘staying away’
from the projects of BRL.
Online reviews
Help BRL itself by monitoring and responding to such reviews through setting up of appropriate
customer complaints handling system.
Online reviews
S.No Website Code Date of First Post
Date of Last Post
Date accessed
No. of reviews
1 www.indianpropertyforum.com
I 04 Apr 2011
10 Oct 2013
16 Apr 2014
94
2 www.feedbackerteam.com
II 28 Apr 2011
17 Aug 2011
17 Aug 2014
30
3 www.indianrealestateforum.com
III Apr 2010 Jan 2014 16 Aug 2014
28
4 www.complaintsboard.com
IV 13 Feb 2012
30 Jul 2014
17 Aug 2014
25
5 www.consumercomplaints.in
V 24 Mar 2011
28 Jun 2014
16 Aug 2014
21
6 www.socialhectare.com
VI 13 Nov 2013
11 Aug 2014
20 Aug 2014
15
7 www.mouthshut.com
VII 29 Oct 2012
17 Aug 2014
20 Aug 2014
05
8 www.housingscam.com
VIII 25 Jun 2014
25 Jun 2014
17 Aug 2014
03
Total 221
List of Websites in which user-generated online reviews about BRL appeared
Ten customers who invested in 2010-2011 were highly satisfied with BRL as they got the sites as per promised schedule. Three of them
wrote positive reviews online, while seven gave feedback to the company. This positive
‘Word of Mouth’ had promotional effect on potential customers.
Customers who
gave negative feedback did not
bother to look at online reviews before investing in
BRL. Negative reviews reduced
potential customers and existing
customers started to withdraw from
projects.
The selection of communication channel is very important to carry the message
of the company forward efficiently.
Personal communication channels directly relate to the importance of online reviews, wherein positive reviews can help increase
brand value on online portals!!
Organising
online forums and communities
(Social media) can provide companies with useful, hard-to-get
customer insights!
Kodak has found that peer-to-peer
recommendations and reviews within the ‘Idea Center at Kodak Gallery’ has
led to more frequent purchases.
Bloggers who
review products have become
an important concern because
they may have thousands
of followers influenced by their
perception!
Online reviews play an important role in
“Post purchase Actions” of a customer, making the customer feel
delighted or disappointed from the purchase!!
Will come to those companies which closely track the sources their
customers refer to during purchase and find the best marketing tools to control them!!