Explain the principles of netnography and how it can be used to enhance market intelligence

Netnography, a term coined by Kozinets, refers to the monitoring of online communities as opposed to physical communities (ethnography). Netnography offers insight into the workings of online chatrooms, forums and threads and looks to the co-creation of data as a means to identify trends and areas for growth within a marketing space. For example if you were looking to produce a state of the art coffee machine you could look at threads of communication about coffee on sites such as Reddit. Here you could look at the main point of discussion by coffee lovers on what they wanted out of their coffee machines (size, colour, price point) and cater your product development to fit those needs.