Abstract
In the realm of interconnected digital world, social ranking systems are readily used in different sections of society, for several reasons. The private and public sectors both are making use of social ranking systems as a tool to engineer human behavior, and crafting a digitally stimulated social control. Online reviews and ratings are one of the significant marketing strategies of online sellers to steer out consumers’ opinion and ultimately their purchasing decisions. Buyers usually go through these reviews and ratings while purchasing online product or hiring online services. Online consumer reviews, recommendations for product and services, and peer viewpoints play a significant role in the customer's opinion formation. Different online forums of product reviews, ratings and recommendations differ in their objectives, functions, and characteristics. This paper focuses upon a systematic literature review and comparative study of the influence the positive and negative reviews and ratings of the products, automobile services, movies, restaurants, products and services on OLX & eBay, etc. have on opinion formation. Moreover, how these reviews influence others opinions of buying and using the products, services and apps will be analyzed.
Highlights
The growth of online social platform has radically altered the way people find information about other people, products and services and how people interact with others [1]
Resource-based view (RBV) model states that the mass of target spectators in online business municipal troubles and it has an influence upon decision
The major contribution of this study is to explore the impact of the online consumer reviews and Electronic word-of-mouth communication (e-WOM), on purchasing decisions and hiring services
Summary
The growth of online social platform has radically altered the way people find information about other people, products and services and how people interact with others [1]. Electronic word-of-mouth communication (e-WOM) is defined by Goldsmith (2006) as “word-of-mouth communication on the Internet, it can be dispersed by social applications as online forums, reviews sites, and social networking sites”. It is considered an indispensable source of information that affects human behavior. Online word-of-mouth (e-WOM) platforms have become one of the most vital sources of information for modern consumers. Researchers found that e-WOM had a positive impact on the decision of the consumers It affected the opinions of the people of different ages and genders and helped them in making further decisions.
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