Multiple categorizations of products: cognitive modeling of customers through social media data mining

Abstract

As various forms of social media are spreading, we often witness that an idea of an individual user drives macroscopic changes. From the perspectives of product development and marketing, the opinions left by potential consumers in online social network can generate big ripple effects. This study analyzes the user opinions in online space to grasp preferences toward various products psychologically categorized by users. We also suggest an aspect of the market mentally configured by users using network modeling while following the framework of economic sociology. Existing analyses on online market place are mainly dealing with structural issues such as inter-actor relationships and status measurement. This study, however, analyzes complex preferences regarding diverse products and brands and derives a new model for inter-market connections. We expect that our study will provide important consequences on digital marketing and community design of corporations planning word of mouth effect in online space.