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The Impact of Electronic Word-of-Mouth on Consumers and Firms
von Simon MonskeSimon Monske investigates the influence of electronic word of mouth (eWOM) on consumers' information search strategies and how companies can measure and strategically use e-WOM. Based on preliminary studies and an eye-tracking online experiment, the author empirically proves that consumers increasingly read opinions of other consumers at the beginning of the information search and evaluate product specifications before making a purchase decision. In addition, Simon Monske evaluates an extensive company survey and shows that German companies would gain a competitive advantage with a sound analysis of eWOM data. However, companies lack organisational processes for the strategic use of insights gained.