How consumer ‘word of mouth’ impacts advertising dollars

Every day, we are exposed to advertising material for every product and service imaginable. Whether on social media, tv, radio, print and more, billions of dollars are spent on advertising each year, all to influence whether or not we make a purchase. Also impacting our decision-making process are recommendations or alternatively criticisms, of these same products and services from family and friends. But how much of an influence can these word of mouth interactions have, and ultimately, how does it impact advertising dollars? Joining me to discuss this topic is Yogesh Joshi, a professor at the University of Maryland, whose…

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