Impact of Consumer Influence on Product Decisions of a Firm

Evolution of Demand Within New Media
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Consumer decisions vary across societies and countries due to people's different steps towards making a purchasing decision. Some factors can be specific to the present situation; however, an individual's background, religion, preferences, economic status, and personal motivation. As a marketer, it is important to understand these aspects of a demographic to help scale businesses.
Fan opinion and fandoms present an emerging trend where a coordinated discussion on a topic can influence the actions of other people and corporations. Prior forms of communication such as blogs and chat rooms were more restrictive to spreading opinions and preferences. However, social media platforms have made opinions accessible to everyone; therefore, everything is debated. The transformation of the online space presents an opportunity for corporations to engage with their consumers and attract new ones. However, the interaction is a double-edged sword that brings with it the potential of attracting obsessive fans who can hang up to influence the actions of a corporation.
Popular culture has accelerated the need for people to seek group affiliations with the hope of receiving social validation for aligning with certain entities or opinions. For instance, certain groups of people decided to boycott French wine and cheese after their government decided to test their nuclear weapons. In Britain, their "Mad cow disease" situation prompted other nations to avoid beef and other products coming from the country (Amjad Hadjikhani, 1998). These incidents spread and incited opinions due to the increased globalization and improved communication systems.[(Amjad Hadjikhani, 1998)]
Social identity is a perspective that can best explain groupthink and behavior. The theory suggests that an individual self is tied ...