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In the world of Facebook, Twitter and Yelp, water-cooler conversations with co-workers and backyard small talk with neighbors have moved from the physical world to the digital arena. In this new landscape, organizations ranging from Fortune 500 companies to government agencies to political campaigns continuously monitor online opinions in an effort to guide their actions. Are consumers satisfied with our product? How are our policies perceived? Do voters agree with our platform? Measuring online opinion is more complex than just reading a few posted reviews. Social media is replete with noise and chatter that can contaminate monitoring efforts. By knowing what shapes online opinions, organizations can better uncover the valuable insights hidden in the social media chatter and better inform strategy. This book can help anyone facing the challenge of making sense of social media data to move beyond the current practice of social media monitoring to more comprehensive use of social media intelligence

Abstract
Online consumer reviews are a convenient, valuable pool of information for potential buyers as well as for marketers. But how reliable is this information? A closer look at the motives behind posted product reviews shows that online opinions should indeed be interpreted with care. The study results reveal that the composition of the customer base can exert a substantial influence on the posted online opinion. Due to selection bias and adjustment effects over time, the content posted may not necessarily reflect the customer base's overall opinion of the product. Individuals were more likely to submit ratings when they were either very satisfied or not satisfied. In addition, consumers were more likely to post an opinion when the ratings already posted were more positive. Highly engaged consumers who frequently post their opinions tend to be more negative than less-engaged individuals. Even though decision-makers can gain valuable insights from the analysis of this pool of information, they should not rely on this source exclusively.

This article focuses on the empirical modeling of advance purchasing and the effects of price on purchasing behavior. Because pricing strategies are typically more complex than simply setting a single price point, the authors consider multiple aspects of price: (a) use of multiple price tiers, (b) face value of tickets, and (c) discounts resulting in week-to-week variations in price. They show that failure to account for price tiers can lead to exaggerated inferences about the role of price over time. Findings reflect substantial differences across tiers. Purchasers in the high-priced tier tend to buy earlier in the selling period and are influenced by price discounts and premiums in the spot market. Purchasers in the low- and mid-priced tiers tend to delay purchasing and are influenced only by face value prices in the spot market. The authors discuss the implications of these empirical observations for future researchers and marketing managers.