Concepts inOptimal marketing and pricing over social networks
Marketing
Marketing is "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. " For business to consumer marketing it is "the process by which companies create value for customers and build strong customer relationships, in order to capture value from customers in return".
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Social network
A social network is a social structure made up of a set of actors (such as individuals or organizations) and the dyadic ties between these actors. The social network perspective provides a clear way of analyzing the structure of whole social entities. The study of these structures uses methods of social network analysis to identify local and global patterns, locate influential entities, and examine network dynamics.
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Viral marketing
Viral marketing, viral advertising, or marketing buzz are buzzwords referring to marketing techniques that use pre-existing social networks to produce increases in brand awareness or to achieve other marketing objectives (such as product sales) through self-replicating viral processes, analogous to the spread of viruses or computer viruses. It can be delivered by word of mouth or enhanced by the network effects of the Internet.
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Revenue
In business, revenue is income that a company receives from its normal business activities, usually from the sale of goods and services to customers. In many countries, such as the United Kingdom, revenue is referred to as turnover. Some companies receive revenue from interest, dividends or royalties paid to them by other companies.
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Social structure
Social structure is a term used in the social sciences to refer to patterned social arrangements in society that are both emergent from and determinant of the actions of the individuals. The usage of the term "social structure" has changed over time and may reflect the various levels of analysis within differing sub-fields of sociology. On the macro scale, it can refer to the system of socioeconomic stratification (e.g.
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