Using Social Media Analysis for Market (Entry) Strategies
Nowadays, the business environment is getting more complex and short-lived due to developments such as globalization and quickly evolving technological trends.Therefore, companies increasingly depend on valuable information for their competitive intelligence: this applies for products, customers, competitors, potential employees and any aspect of the market environment needed to support executives and managers in making strategic decisions.The analysis of social media can provide valuable insights for the competitive intelligence of every company.However, only few companies currently exploit this source of publicly available information.This reluctance may be due to the prevailing opinion that companies, which are not actively using social media for their marketing, will not find valuable insights in these sources.Nevertheless, companies and competitive intelligence professionals have to be aware of the fact that the importance of social media is steadily growing and that it influences individuals and companies decisions.Consequently, social media analysis can reveal, important information e.g., consumer attitudes, their decision processes, and the image of your company as well as of your competitors.The analysis is based on computational linguistics and semantic methods, which help to reveal, e.g., early product trends and public criticism.Furthermore, continuous social media analysis, often referred to as social media monitoring, can help to prevent damage to a companys image as it allows a short-time reaction.This paper presents highly innovative methods of social media analysis and their application to entry strategies for foreign markets.With regards to this special subject, we show that social media analysis can provide highly valuable insights into products, customers, and competitors.Additionally, we show how managers and decision makers can gain insights about the specific regional and local market environment.
Social Media Social Media Analysis Social Media Monitoring Semantics Computational Linguistics Information Extraction Topic Map Decision Tree Pattern Matching Complexity
Martin Grothe Franziska Brecht
complexium GmbH,Berlin,Germany complexium GmbH,Berlin,Germany,franziska
国际会议
International Conference on Competitive Intelligence`2012(2012年竞争情报国际会议)
北京
英文
16-25
2012-10-29（万方平台首次上网日期，不代表论文的发表时间）