The Effect of eWOM on Movie Sales Considering Competition and Culture
1
조회
0
다운로드
0
인용
0
참고문헌
키워드
초록
This paper aims to empirically analyze how competitive and cultural factors moderate the relationship between electronic word-of-mouth (eWOM) characteristics and sales in the US and Korean film industries. A conceptual model was developed based on the cue utilization theory (CUT) to analyze the role of cultural and competitive factors that moderate the relationship between three characteristics of eWOM (volume, valence, and variance) and movie sales. Data of 45 days of 163 films released in Korea and the US were collected and a total of 7,335 samples were analyzed by panel regression. As results, competitive factors enhanced the influence of the eWOM of a focal film and this moderating effect depended on the eWOM characteristics. It also revealed that the effect of eWOM had a greater effect on movie sales in Korea than in the US.
Abstract
This paper aims to empirically analyze how competitive and cultural factors moderate the relationship between electronic word-of-mouth (eWOM) characteristics and sales in the US and Korean film industries. A conceptual model was developed based on the cue utilization theory (CUT) to analyze the role of cultural and competitive factors that moderate the relationship between three characteristics of eWOM (volume, valence, and variance) and movie sales. Data of 45 days of 163 films released in Korea and the US were collected and a total of 7,335 samples were analyzed by panel regression. As results, competitive factors enhanced the influence of the eWOM of a focal film and this moderating effect depended on the eWOM characteristics. It also revealed that the effect of eWOM had a greater effect on movie sales in Korea than in the US.
참고문헌 (62)
- Arellano Manuel, "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations", The Review of Economic Studies, 58(2), pp.277~ (1991)
- Babi´c Rosario, "The Effect of Electronic Word of Mouth on Sales: AMeta-Analytic Review of Platform, Product, and Metric Factors", Journal of Marketing Research, 53(3), pp.297~318 (2016)
- Buzova Daniela, "Does Culture Affect Sentiments Expressed in Cruise Tours’ Ewom?", The Service Industries Journal, 39(2), pp.154~173 (2018)
- Carrillat, François A., "Debates and Assumptions about Motion Picture Performance: AMeta-Analysis", Journal of the Academy of Marketing Science, 46(2), pp.273~299 (2017)
- Chen Yubo, "Online Consumer Review: Word-of-Mouth as a New Element of Marketing Communication Mix", Management Science, 54(3), pp.477~491 (2008)
- Chintagunta, Pradeep K., "The Effects of Online User Reviews on Movie Box-Office Performance: Accounting for Sequential Rollout and Aggregation Across Local Markets", Marketing Science, 29(5), pp.944~957 (2010)
- Chiu Ya-Ling, "The Impact of Online Movie Word-of-Mouth on Consumer Choice", International Marketing Review, 36(6), pp.996~1025 (2019)
- Clemons, Eric K., "When Online Reviews Meet Hyperdifferentiation: A Study of the Craft Beer Industry", Journal of Management Information Systems, 23(2), pp.149~171 (2006)
- Colicev Anatoli, "Improving Consumer Mindset Metrics and Shareholder Value through Social Media: The Different Roles of Owned and Earned Media", Journal of Marketing, 82(1), pp.37~56 (2018)
- Dawar Niraj, "A Cross-Cultural Study of Interpersonal Information Exchange", Journal of International Business Studies, 27(3), pp.497~516 (1996)
- Deng, Tianjie, "Investigating the Effects of Textual Reviews fromConsumers and Critics on Movie Sales", Online Information Review, 44(6), pp.1245~1265 (2020)
- Dick Alan, "Memory-Based Inferences during Consumer Choice", Journal of Consumer Research, 17(1), pp.82~ (1990)
- Duan, W., "The Dynamics of Online Word-of-Mouth and Product Sales-An Empirical Investigation of the Movie Industry", Journal of Retailing, 84(2), pp.233~242 (2008)
- Elberse Anita, "Demand and Supply Dynamics for Sequentially Released Products in International Markets: The Case of Motion Pictures", Marketing Science, 22(3), pp.329~354 (2003)
- Eliashberg Jehoshua, "Modeling goes to Hollywood: Predicting Individual Differences in Movie Enjoyment", Management Science, 40(9), pp.1151~1173 (1994)
- Ellison Glenn David, "What Causes Industry Agglomeration? Evidence from Coagglomeration Patterns", Electronic Journal (2007)
- Fiske, Susan Taylor, "Social Cognition: From Brains to Culture" (2017), SAGE Publications Ltd
- Goldsmith, Ronald E., "Measuring Motivations for Online Opinion Seeking", Journal of Interactive Advertising, 6(2), pp.2~14 (2006)
- Gould, Eric D., "Contracts, Externalities, and Incentives in Shopping Malls", Review of Economics and Statistics, 87(3), pp.411~422 (2005)
- Hall, Edward Twitchell, "Beyond Culture" (1989), Doubleday
- Hennig-Thurau Thorsten, "Does Twitter Matter? The Impact of Microblogging Word of Mouth on Consumers’ Adoption of New Movies", Journal of the Academy of Marketing Science, 43(3), pp.375~394 (2014)
- Hofstede Geert, "Cultures and Organizations Software of the Mind; Intercultural Cooperation and its Importance for Survival" (2010), McGraw-Hill
- Ilhan Behice Ece, "Battle of the Brand Fans: Impact of Brand Attack and Defense on Social Media", Journal of Interactive Marketing, 43(1), pp.33~51 (2018)
- Inman, J. Jeffrey, "The Role of Sensory-Specific Satiety in Attribute-Level Variety Seeking", Journal of Consumer Research, 28(1), pp.105~120 (2001)
- Jabr Wael, "Know Yourself and Know Your Enemy: An Analysis of Firm Recommendations and Consumer Reviews in a Competitive Environment", MIS Quarterly, 38(3), pp.635~654 (2014)
- Kale, Sudhir H., "Understanding the Domain of Cross-National Buyer-Seller Interactions", Journal of International Business Studies, 23(1), pp.101~132 (1992)
- Keh Hean Tat, "Online Movie Ratings: ACross-Cultural, Emerging Asian Markets Perspective", International Marketing Review, 32(3-4), pp.366~388 (2015)
- Kim Jiyoung, "Online Retailer Reputation and Consumer Response: Examining Cross Cultural Differences", International Journal of Retail & Distribution Management, 41(9), pp.688~705 (2013)
- King Robert Allen, "What We Know and Don’t Know about Online Word-of-Mouth: A Review and Synthesis of the Literature", Journal of Interactive Marketing, 28(3), pp.167~183 (2014)
- Koschat, Martin A., "The Impact of Movie Reviews on Box Office: Media Portfolios and the Intermediation of Genre", Journal of Media Economics, 25(1), pp.35~53 (2012)
- Lee Jungwon, "Reexamining Review Variance and Movie Sales: The Inverted-U-Shaped Relationship and Boundary Conditions", Internet Research (2023)[DOI]
- Lee Jungwon, "The Effects of Corporate, Review and Reviewer Characteristics on the Helpfulness of Online Reviews: The Moderating Role of Culture", Internet Research, 32(5), pp.1562~1594 (2022)
- Lee Jungwon, "The Effect of Consumer Group Breadth and Depth on Movie Sales: The Mediating Effect of eWOM-to-Viewing Ratio", Asia Pacific Journal of Marketing and Logistcis, 34(4), pp.707~738 (2022)
- Liu, Angela Xia., "Agglomeration as a Driver of the Volume of Electronic Word of Mouth in the Restaurant Industry", Journal of Marketing Research, 55(4), pp.507~523 (2018)
- Liu, Yong, "Word of Mouth for Movies: Its Dynamics and Impact on Box Office Revenue", Journal of Marketing, 70(3), pp.74~89 (2006)
- Marshall, Alfred, "Principles of Economics: An Introductory Volume" (2012), MacMillan
- Mitra Anusree, "Toward a Reconciliation of Market Power and Information Theories of Advertising Effects on Price Elasticity", Journal of Consumer Research, 21(4), pp.644~ (1995)
- Moon Sangkil, "Dynamic Effects among Movie Ratings, Movie Revenues, and Viewer Satisfaction", Journal of Marketing, 74(1), pp.108~121 (2010)
- Murray, Keith B., "ATest of Services Marketing Theory: Consumer Information Acquisition Activities", Journal of Marketing, 55(1), pp.10~ (1991)
- Park Cheol, "Antecedents of Online Reviews’ Usage and Purchase Influence: An Empirical Comparison of U.S. and Korean Consumers", Journal of Interactive Marketing, 23(4), pp.332~340 (2009)
- Purohit Devavrat, "Effect of Manufacturer Reputation, Retailer Reputation, and Product Warranty on Consumer Judgments of Product Quality: A Cue Diagnosticity Framework", Journal of Consumer Psychology, 10(3), pp.123~134 (2001)
- Raju, P. S., "Optimum Stimulation Level: Its Relationship to Personality, Demographics, and Exploratory Behavior", Journal of Consumer Research, 7(3), pp.272~ (1980)
- Richardson, Paul S., "Extrinsic and Intrinsic Cue Effects on Perceptions of Store Brand Quality", Journal of Marketing, 58(4), pp.28~ (1994)
- Rui Huaxia, "Whose and What Chatter Matters? The Effect of Tweets on Movie Sales", Decision Support Systems, 55(4), pp.863~870 (2013)
- Saboo, Alok R., "Evaluating the Impact of Social Media Activities on Human Brand Sales", International Journal of Research in Marketing, 33(3), pp.524~541 (2016)
- Schwert, G. William, "Effects of Model Specification on Tests for Unit Roots in Macroeconomic Data", Journal of Monetary Economics, 20(1), pp.73~103 (1987)
- Slovic Paul, "Comparison of Bayesian and Regression Approaches to the Study of Information Processing in Judgment", Organizational Behavior and Human Performance, 6(6), pp.649~744 (1970)
- Song Reo, "When Marketing Strategy Meets Culture: The Role of Culture in Product Evaluations", Journal of the Academy of Marketing Science, 46(3), pp.384~402 (2017)
- Sridhar Shrihari, "Social Influence Effects in Online Product Ratings", Journal of Marketing, 76(5), pp.70~88 (2012)
- Stephen, Andrew T., "The Effects of Traditional and Social Earned Media on Sales: A Study of a Microlending Marketplace", Journal of Marketing Research, 49(5), pp.624~639 (2012)
- Stephen, Andrew T., "Deriving Value from Social Commerce Networks", Journal of Marketing Research, 47(2), pp.215~228 (2009)
- Sun, Monic, "How Does the Variance of Product Ratings Matter?", Management Science, 58(4), pp.696~707 (2012)
- Tan Tom Fangyun, "Is Tom Cruise Threatened? An Empirical Study of the Impact of Product Variety on Demand Concentration", Information Systems Research, 28(3), pp.643~660 (2017)
- Tang, Linghui, "Mine Your Customers or Mine Your Business: The Moderating Role of Culture in Online Word-of-Mouth Reviews", Journal of International Marketing, 25(2), pp.88~110 (2017)
- Tylor, Edward Burnett, "Primitive Culture: Researches into the Development of Mythology, Philosophy, Religion" (2010), Nabu Press
- Vogel, Harold L., "Entertainment Industry Economics: A Guide for Financial Analysis" (2020), Cambridge University Press
- Wang Feng, "User Reviews Variance, Critic Reviews Variance, and Product Sales: An Exploration of Customer Breadth and Depth Effects", Journal of Retailing, 91(3), pp.372~389 (2015)
- Wooldridge, Jeffrey M., "Introductory Econometrics: A Modern Approach" (2013), Cengage Learning
- Wu Jianan, "User Reviews and Uncertainty Assessment: A Two Stage Model of Consumers’ Willingness-to-Pay in Online Markets", Decision Support Systems, 55(1), pp.175~185 (2013)
- Yang Joonhyuk, "The Heterogeneous Effect of WOM on Product Sales: Why the Effect of WOM Valence is Mixed?", European Journal of Marketing, 46(11-12), pp.1523~1538 (2012)
- You Ya, "A Meta-Analysis of Electronic Word-of-Mouth Elasticity", Journal of Marketing, 79(2), pp.19~39 (2015)
- Zimmermann Steffen, "Decomposing the Variance of Consumer Ratings and the Impact on Price and Demand", Information Systems Research, 29(4), pp.984~1002 (2018)
