Notes on Viral Marketing
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چکیده
• VM – alternative to mass marketing. More generally, direct marketing (DM) – mines available market data to determine customers worth targeting. – customer’s value – instrinsic value vs. network value. – it’s possible: IV < marketing cost, and IV + NV >> MC. – ignoring NV of customer’s misses out on a huge opportunity. • hotmail and ICQ instant messenger largely benefited from VM (i.e., network effect). • VM thesis: customer’s buying decision – driven by desirability of product (for customer) + effect of “neighbors”. • Question: Do we have evidence supporting such a belief? • Answer: movie/song recommendation systems provide indirect evidence. • our plan: initially, consider models based on Markov random fields, proposed by Domingos and Richardson [1]; then consider various optimization problems based on a more tractable probabilistic model of influence and of influence propagation [3]. • Problem is NP-complete in general. Under many circumstances, exhibits a nice property called sub-modularity (in addition to monotonicity). We are able to exploit this to devise simple greedy approximations.
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