Community is a set of interwoven relationships built upon shared interests, which satisfies members’ needs otherwise unattainable individually

Criteria for true communities:
People criteria: membership is a conscious choice, member base has achieved critical mass sustainability, and members feel trusted.
Process: members achieve benefits, roles are not imposed(voluntary), effective facilitation and site structure to keep community activities on track
Culture: participation and feedback cultivated, sense of affiliation achieved through ownership of equity within community
Technology: efficiency in interaction maximized, community is easy to navigate

Different types of interest in forming community
Shared interest in information(stock trade tips-info driven communities), activity(buy/sell antiques-activity driven), commonality(being a doctor)

Communities function in real time formats(immediate communication, msg send/read/replied instantaneously) or asynchronous formats(delayed communication, time b/w msg send/read/replied vary greatly)

3 primary ways value is created in a community:
User to user: user generated content (member written articles, opinion, advice)
Administrator-to-user: administrator created content (exclusive research and reports, activities like scheduled chats with special guests
User to admin: user generated value such as revenue from product sales, content fees, usage fees, commission, and advertising sales

Benefits community generate for parent firm:
Cost benefit: reduce cs cost, customer acquisition cost, cost from decrease product flaws and marketing mistakes, marketing cost
Revenue benefits: increased customer segmentation and customization, increased branding, deepened customer relationships

Levels of community:
Nascent level: communities at their inception, marked and driven by community founders and small number of core participants
Formative: growing and developing communities, marked by growing membership and evolving goals and functionality
Mature level: near critical mass and sustainability. Community survival no longer depends on original founders and core participants. Structures exist to ensure feedback, maintenance, and change

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