Information in Online Purchase Decision Processes: Information Extraction, Data Analysis and Economic Impact
Information has a particular importance in online purchase decision processes. As opposed to consumers in online markets, consumers in online markets cannot inspect the physical product to evaluate it and reduce their perceived risk. Hence, consumers in online markets are dependent upon the information that they can gather about a product in which they are interested. Therefore, they have two primary sources of information: Product descriptions and customer reviews. Both sources affect consumers’ purchase decision processes and hence have an economic impact for consumers, shop providers and manufacturers. It is important to know how these sources of information influence a customer’s online purchase decision and how to extract the relevant information. To examine these research objectives, several studies applying different methodological approaches have been conducted. The results are presented in this dissertation.
Purchase Decision Process, Online Markets, Customer Reviews, Product Descriptions, Classification
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