All posts by lihengrichard

Consumers as sellers

Starting with the first paper (Cheema et al.), this paper was focused on consumers who participate in auctions. They researched which factors affect the behavior of consumers during auctions. Their conclusion was that there are indeed several factors which affect the consumer. These are divided in economic, social and psychological factors.

The second paper discusses the topic social commerce network. Social commerce is an emerging trend where sellers are connected in online social networks. Furthermore, in these networks, sellers are individuals instead of firms.  The paper discusses the differences between social commerce and the regular bricks-and-mortars shops. An example would be that the traveling costs are lower when shopping online.

Another important factor in this paper was the fact that these networks can create economic value. By linking shops together, the customers can easily browse between shops. This improves the accessibility of the network’s shop. The more a shop is connected by other shops, the more it improves its accessibility. However, the sellers should aim to get as much links going to their shop instead of leaving their shop.  In the end, the shops which benefit the most from social commerce are the ones whose accessibility is most enhanced by the network.

Continue reading Consumers as sellers

Mass Customization – You Bar

After seeing the Personal MM’s example during the previous presentation, I was wondering if there were more cases of mass customization and customer involvement regarding food. There is a company which produces nutrition bars which can be fully customized. Customers can select their own prefered ingredients and name their own bar. There is a video of the making proces on their website for those who are really interested in the proces.

Furthermore, while I was looking for this nice example, I stumbled upon this blog post which states the different kinds of mass customization and a nice corresponding example.

Richard Wang