Samenvatting

The Internet has dramatically changed the business landscape and the way word-of-mouth spreads. The possibilities for small, Internet-depending firms to compete have improved. This study addresses the question how such firms in the Netherlands, Sweden, and Finland deal with word-of-mouth through the Internet. Findings from this study were that these firms’ business models are based on a reciprocal relationship between them and consumers. The market information received, called “community knowledge,” produces a feedback mechanism that they can use to their advantage and implement in their businesses. Surprisingly, firms across countries use the same management approach to implement eWOM (electronic word-of-mouth) and have a tendency to neglect the customer’s perspective. Consequently, they underestimate the results that can be accomplished with eWOM. We identify the major elements at work and provide a conceptual framework that will contribute to further eWOM research work.