Question 1

Structural equivalence occurs when two actors have links to others that are the same.

Accepted Answer

Structural equivalence refers to the similarity of positions and connections between two actors in a network. It means that two actors in a network have the same pattern of connections to other actors.

Question 2

Marketers look to try their products on people who are highly connected to other people. These people are known as influentials.

Accepted Answer

Marketers often target influentials because they have a larger social network and can potentially spread awareness of the product to a wider audience.

Question 3

Consumers seem to trust online recommendations.

Accepted Answer

Studies have shown that a majority of consumers rely on online recommendations and reviews when making purchasing decisions, indicating a level of trust in these sources of information.

Question 4

Online brand communities are a type of social media where the interactions are meant to be commercial.

Accepted Answer

Online brand communities are created by companies to engage with their customers and foster loyalty towards their brand. While the interactions are social in nature, the ultimate goal is to drive commercial benefits such as increased sales and customer retention.

Question 5

There was once a time when the only TV stations were ABC, CBS, and NBC.

Accepted Answer

This statement is true for the early days of television broadcasting in the United States. The three major networks - ABC, CBS, and NBC - were the only TV stations available to viewers for a long time.

Question 6

To find influentials, marketers look at location indices for each actor in the market.

Accepted Answer

To find influentials, marketers typically look at factors such as social media following, engagement rates, content quality, and other metrics that indicate the level of impact an individual or organization has on their audience. Location indices may be a consideration for certain campaigns or localized marketing efforts, but they are not necessarily the primary indicator of influence.

Question 7

A sociomatrix is a graphical form of a network, and a sociogram is a tabular representation of a network.

Accepted Answer

The answer of A sociomatrix is a graphical form of...

Question 8

Social media facilitates word of mouth, which is very important for businesses.

Accepted Answer

Social media allows customers to share their thoughts and experiences with a broader audience, which can influence others' purchasing decisions. This is known as word of mouth marketing, and it is valuable for businesses because it is a form of free advertising that builds trust and credibility.

Question 9

The easiest and most common way to characterize centrality is to count the number of connections each actor has with the others in the network.

Accepted Answer

This statement is true. Centrality can be measured by counting the number of connections an actor has with others in the network, which is known as degree centrality.

Question 10

A dialogue is the most fundamental means of interaction.

Accepted Answer

A dialogue involves communication between two or more individuals, and is essential for exchanging ideas, solving problems, building relationships, and achieving mutual understanding. It is a fundamental means of interaction in human society.

Question 11

Word of mouth occurs most often for restaurants, movies, and computers.

Accepted Answer

This statement is true. Studies have shown that word of mouth is most common for these three industries.

Question 12

The identification of potential WOM-generators is easy because centrality indices are easy to calculate, and most of the links are connected to a large number of actors (the 20-80 rule).

Accepted Answer

The answer of The identification of potential WOM-generators is easy...

Question 13

It's impossible to create buzz for products like soap, bread, and insurance.

Accepted Answer

While it may be more difficult to create buzz for products like soap, bread, and insurance compared to new and trendy products, it is still possible through creative marketing strategies such as social media campaigns, influencer endorsements, and unique packaging.

Question 14

Most, if not all, social media offer rich sensory experiences.

Accepted Answer

The answer of Most, if not all, social media offer...

Question 15

Some of the changes in traditional media are a decrease in newspaper circulation and an increase in listening time for radio listeners because of a larger number of satellite servers like XM.

Accepted Answer

The answer of Some of the changes in traditional media...

Question 16

A network is defined as the set of actors (or nodes) and the relational ties that link them.

Accepted Answer

This is the correct definition of a network.

Question 17

If a YouTube video goes viral, it is usually due to advertisements.

Accepted Answer

While advertisements can certainly help promote a video and increase its viewership, a video going viral is often the result of organic sharing by viewers and social media platforms.

Question 18

Recommendation agents work by performing cluster analysis on a spreadsheet where the rows are customers and the columns are SKU's. If there is a 0 in the cell, then the customer has purchased that item, and if there is a 1 the customer has not purchased that item.

Accepted Answer

Recommendation agents typically use machine learning algorithms to analyze customer behavior and preferences, rather than simply looking at a binary matrix of purchases. While purchase history may be a part of this analysis, it is not the sole determinant of recommended items.

Question 19

Customer A of Company X has purchased products 1, 2 and 3. Customer B has purchased products 1 and 2. Since Company X is using a structural equivalence network recommendation system, they will recommend to customer B to purchase product 3.

Accepted Answer

Since customer A and B have purchased similar products (1 and 2), the structural equivalence network recommendation system will recommend product 3 to customer B based on the purchasing behavior of customer A who had also purchased product 3 along with products 1 and 2.

Question 20

The primary goal of LinkedIn is to share slices of life with friends.

Accepted Answer

The primary goal of LinkedIn is to connect professionals, expand their network, and find job opportunities. It is not necessarily meant for sharing personal moments with friends.

Quiz 13: Social Media