Study about Influence Purchases in a Social Network
Abstract:~ Social networks, such as Facebook and Myspace have witnessed a rapid growth in their membership. Some of these businesses have tried an advertising-based model with very limited success. However, these businesses have not fully explored the power of their members to influence each other’s behavior. This potential viral or social effect can have significant impact on the success of these companies as well as provide a unique new marketing opportunity for traditional companies.
Overview:~Social networks have become a cultural phenomenon. Facebook, one of the largest social networking sites in the U.S. was founded in 2004. By February 2009, it boasts more than 175 million active users and continues to grow rapidly. Worldwide these users spend 3.0 billion minutes each day on Facebook. More than 850 million photos and 5 million videos are uploaded on the site each month. 2 There are hundreds of other similar sites including Myspace, Friendster, Xanga and Bebo. Keep reading on Social Network








