Review and Rating System Guided Online Marketing Managemen

Authors

  • Hang Zhou,Tao Li

Abstract

The rapid growth of e-commerce has brought about a surge in the amount of product review information. Based on the feedback, companies can understand the shortcomings of their products and then improve them to meet the needs of their customers. The main objective of this study is to analyze data on customer rates and reviews through a review and rating system to guide companies in making decisions about introducing and selling new products. Methodology: We defined several measures and patterns to identify how the product features represented in the star rating levels and reviews. The Entropy method is introduced in our model and a time-based model is established to analyze the increasing/decreasing trend of the reputation of companies. Finally, Auto-Regression based model and ANOVA based model are proposed to analyze the relationship between star rating levels and specific quality descriptors. Results: The purchase rate plays an important role of the effectiveness of rating and review. The rating and reviews by customers with verified purchase are more valuable. Especially, the rating and reviews of pacifier is more valuable on the verified purchasers. The standard deviation of star ratings of microwave shows larger value than it does on hair dryer and pacifier. We should pay more attention to the variation of the rating score of microwaves. Conclusion: Star rating levels are closely related to text reviews of specific quality descriptors. In summary, review and rating systems have an important role in guiding consumers' online consumption decisions.

Published

2021-06-10

Issue

Section

Articles