Lund – It is great that nowadays everything and everyone can be rated. But, there also is a seam side to this: the customer almost gets unlimited power. In the peer-to-peer economies, service-providers for companies such as Uber, a taxi alternative, and Airbnb, a hotel alternative, are scared to death to make the slightest mistake. This article describes the journey of consumer power through the rise of the internet and web 2.0and implications of this power in the sharing economies.
Read morePower is shifting through social media, consumers are taking the driver’s seat
Power is shifting through social media, consumers are taking the driver’s seat, brands may find them self´s demoted to passengers. Social media has altered the power balance between consumers and brands. Consumers are no longer passive bystanders, they have the power to create content and affect brands in a way that before social media was if not impossible, at least extremely challenging. However now consumers has a myriad of social media tool at their disposal, through which they can enforce power over brands and affect them in numerous ways. In other words social media is shifting the power, from brans to consumers. Thus the aim of this paper aims to investigate how consumers enforce their power is enforced on social media.
Read moreWeb 2.0: Consumer empowerment through the internet evolution brings implications for marketers
This review treats the consumer empowerment through web 2.0 and how marketers can best adapt.
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