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      Chapter

      The Impact of Social Media on Business Model Innovation
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      Chapter

      The Impact of Social Media on Business Model Innovation

      DOI link for The Impact of Social Media on Business Model Innovation

      The Impact of Social Media on Business Model Innovation book

      Importance of Key Opinion Leader, User-Generated Contents, and Interactivity of the Network Community

      The Impact of Social Media on Business Model Innovation

      DOI link for The Impact of Social Media on Business Model Innovation

      The Impact of Social Media on Business Model Innovation book

      Importance of Key Opinion Leader, User-Generated Contents, and Interactivity of the Network Community
      ByRajibul Hasan, Yuelin Teng, S.M. Riad Shams
      BookBusiness Model Innovation

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      Edition 1st Edition
      First Published 2021
      Imprint Routledge
      Pages 17
      eBook ISBN 9781003028307
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      ABSTRACT

      This study investigates the drive of Chinese consumers to purchase luxury items and the influence of social media on business model innovation via in-depth interviews. Our primary data were collected from 30 interviews. These were our general findings: the reputation of the KOL (key opinion leader) will increase customers’ brand knowledge. The trustworthy UGC (user-generated content) and interactivity of the network community help customers better evaluate and make selections. Acquaintance and word of mouth have positive influence on customer decision making. The findings of this study support the view that social media sites have a relatively positive influence on the process of information search, alternative evaluation, and selection. The implications of this study will help luxury brands implement an effective social media marketing strategy to influence the customers’ purchasing behavior.

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