Abstract
User-generated content (UGC) has grown in popularity in recent times. The researchers have examined the significance of UGC on consumer behaviour in the era of Industry 4.0. Therefore, measuring UGC in eWOM communication will allow stakeholders to evaluate their effectiveness on the internet and amplify the digital process needed to perform modern marketing. A comprehensive literature review has been conducted to piece together the disparate pieces of knowledge to comprehend the entire conceptual framework of UGC. Several research papers have been classified into seven categories, each of which could elaborate on the concepts of UGC, eWOM, UGC/eWOM effect, factors of source credibility, factors of content credibility, receiver's behaviour, and platform credibility in order to conceptualize the concept under consideration. The goal is to connect ideas available in the literature and offer a comprehensive picture of UGC by focusing on the future research perspective. UGC and eWOM will let firms strategize their resources and effort.
TopIntroduction
The world is constantly changing, developing and advancing to create an interrelated effect on business, Industry, people and society. The widespread Fourth Industrial Revolution or Industry 4.0 has been one such development that worked as a disruptive force for business advances (Bulent, 2020). Automation, machine learning, big data, interconnection, and digitization of processes are all key components of Industry 4.0, which aims to move enterprises toward becoming intelligent (Dubedi, 2019) Modern technology can communicate between human and interactive devices & programs to create a seamless integration between the digital and physical world. This explains the connection between e-commerce & Industry 4.0 practices and current management trends(Restart-project.eu, 2018). The rapid growth of digital technology is changing the way business practices work so far and is also responsible for the emergence of marketing 4.0.
In a computer-mediated world, the field of marketing is actively developing profitable business models. Consumers build, share, and choose the information they want in Internet-based marketing models, which are highly personalized, appropriate, and efficient (Rani & Shivprasad, 2018). Ever since Chris Anderson coined the term “Long Tail Business Model” in 2004 in Wired magazine, ‘consumer participation in information creation online’ has been a demand-side attribute to move demand from niches to successes. Online customers expect that users will discuss the positive aspects of a product and the negative aspects that increase the credibility of such information (Thoumrungroje, 2014). This is focused on using user-generated content (UGC) to help buyers make better decisions and sellers perform better.
UGC has grown in popularity with the advent of social media. Reviews, ratings, questions and answers, social media posts, and photographs and videos are all examples of user-generated content. Product reviews and ratings on various web-based platforms account for more than 70% of all UGC, making it electronic word of mouth (eWOM) (Collins, 2019). According to the survey conducted by Statista (2021), most consumers use UGC since it increases perceived confidence in the purchase, is more interesting than brands generated promotion, creates a more authentic shopping experience, and encourages customer engagement (statista.com, 2021). Besides, 35% of Consumers have reported that they are less likely to buy a product or hold purchase decisions if there is no UGC available on any website/social media. This data represents the significance of UGC on consumer behaviour in the era of Industry 4.0. Therefore, measuring UGC in the form of eWOM communication will allow stakeholders to evaluate their effectiveness on the Internet and will amplify the digital process needed to perform modern marketing (Duan et al. 2009).
Key Terms in this Chapter
Benefit: To the extent that the receiver gains something from the search.
Novelty: eWOM messages the quality and strength of the argument.
Aesthetics: The characteristics of appeal in eWOM message which is appreciated.
Trustworthiness: It talks about the authenticity of the source is genuine.
Electronic Word of Mouth (eWOM): eWOM is refered to any content which is created or developed by members of the general public/users rather than paid professionals and is mainly circulated via Internet-related technologies.
Experience: This refers to the receiver's knowledge/skills that would aid in their search.
Source Credibility: Source credibility is how a consumer perceives and trusts the source of the eWOM recommendations.
Homophily: The likeness between the source of eWOM recommendation and the receiver.
Expertise: It can be defined as prior experience about the eWOM suggestion.
Argument Quality: eWOM message talks about the quality and strength of the argument which is important.
Involvement: The relevance of the information search to the receivers' perceptions.
User-Generated Content (UGC): UGC is an online user activity that involves the expression of individual thoughts, ideas and feedback about what it has experienced with a product or brand.
Information Quality: This talks about the overall ratings given by the consumer for eWOM Recommendations.
Industry 4.0: New Digital orientation of Business sector.
Enjoyment: To the extent that the receiver thinks it is amusing and entertaining.