Fuel vehicles or new energy vehicles? A study on the differentiation of vehicle consumer demand based on online reviews

Abstract

Purpose

The authors hope to filter valuable information from online reviews, obtain objective and accurate information about the demands of auto consumers and help auto companies develop more reasonable production and marketing strategies for healthy and sustainable development. This paper aims to discuss the aforementioned objectives.

Design/methodology/approach

The authors collected review data from online automotive forums and generated a corpus after pre-processing. Then, the authors extracted consumer demands and topics using the LDA model. Finally, the authors used a trained Word2vec tool to extend the consumer demand topics.

Findings

Different types of vehicle consumers have the same demands, such as “Space,” “Power Performance,” and “Brand Comparison,” and distinct demands, such as “Appearance,” “Safety,” “Service,” and “New Energy Features”; consumers who buy new energy vehicles are still accustomed to comparing with the brands or models of fuel vehicles; new energy vehicles consumers pay more attention to services and service quality during the purchasing and using process.

Research limitations/implications

The development time of new energy vehicles is relatively short, with some models being available for only one year or even six months. The smaller amount of available data may impact the applicability of topic models. The sample size, especially for new energy vehicles, needs to be increased to improve the general applicability of topic models further.

Practical implications

First, this measure helps online review websites improve their existing review publication mechanisms, enhance the overall quality of online review content, increase user traffic and promote the healthy development of online review websites. Second, this allows for timely adjustments in future product production and sales plans and further enhances automotive companies' ability to leverage online reviews for Internet marketing.

Originality/value

The authors have improved the accuracy and stability of the fused topic model, providing a scientific and efficient research tool for multi-dimensional topic mining of online reviews. With the help of research results, consumers can more easily understand the discussion topics and thus filter out valuable reference information. As a result, automotive companies may gain information about consumer demands and product quality feedback and thus quickly adjust production and marketing strategies to increase sales and market share.

Citation

Wang, X., Cheng, Y., Lv, T. and Cai, R. (2023), "Fuel vehicles or new energy vehicles? A study on the differentiation of vehicle consumer demand based on online reviews", Marketing Intelligence & Planning, Vol. 41 No. 8, pp. 1236-1251. https://doi.org/10.1108/MIP-04-2023-0173