Search results for: Customer relationship management
4080 Customer Relationship Management on Social Media Affecting Brand Loyalty of Siam Commercial Bank in Bangkok
Authors: Charawee Butbumrung
Abstract:The purpose of this research was to study customer relationship management on social media affecting brand loyalty of Siam Commercial Bank in Bangkok. The statistics used in data analysis were frequency, mean, standard deviation, and Pearson’s correlation coefficient based on social science statistic program. The result of the study found that the majority of the respondents were female, 37–47 years old of age, bachelor degree of education and monthly income between 10,001 and 15,000 Baht. In addition, customer relationship management in the overall and by each aspect of formulating, maintaining, and extending the customer relationship had a high score. Furthermore, the result of hypothesis testing showed that the difference of the customer’s age, education, occupation, average monthly income had the difference in brand loyalty with the statistical significance level of 0.05 and customer relationship management had related with brand loyalty in the same direction with the low level of statistical significance 0.05.
Keywords: Brand loyalty, customer relationship, management, Siam Commercial Bank, social media.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 767
4079 Impact of Customer Management System in Improving Customer Retention: Optimization of Negative Customer Feedback
Authors: Alireza Faed, David Forbes
Abstract:Complaints today have the ability to retain customer loyalty using state of the art systems and strategies in customer relationship management to analyze and respond to a plethora of customer perception. The Majority of companies are not aware of the beneficiary utilization of customer complaints for the sake of quality improvements. Also, some companies have problems determining how resolution of complaints can be profitable. In this study, we will define the problems and ascertain the importance of customer management system on the companies. Furthermore, we will determine the impact of such a system on efficiency, confidence, profitability and customer complaints. Eventually, we will develop methods and address the issues. In this paper, we used an open-ended questionnaire and distributed that to 30 randomly chosen respondents which were the passengers in an airport. We also define three hypotheses for our study and we will validate each of them. Then using frequency, Chi- Square and quality control method we optimized the size of customers- negative feedback and improved the process of customer retention.
Keywords: Complaint, Complaint management system, Customer relationship management, Retention.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2158
4078 Application of Customer Relationship Management Systems in Business: Challenges and Opportunities
Authors: K. Liagkouras, K. Metaxiotis
Customer relationship management (CRM) systems in business are a reality of the contemporary business world for the last decade or so. Still, there are grey areas regarding the successful implementation and operation of CRM systems in business. This paper, through the systematic study of the CRM implementation paradigm, attempts to identify the most important challenges and opportunities that the CRM systems face in a rapidly changing business world.
Keywords: Customer Relationship Management, CRM, Business, Information Systems.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 4713
4077 Studying the Relationship between Different Dimensions of CRM and Innovation Capabilities in Melli Bank of Iran
Authors: Peyman Ghafari, Reza Karjalian, Ali Mashayekhnia
This paper investigates the relationship between different dimensions of customer relationship management and innovation capabilities in Melli Bank of Iran. Five dimensions of CRM include information sharing, customer involvement, long-term partnership, joint problem solving and technology-based CRM are selected to measure their relationship with innovation capabilities including innovation in product, innovation in process, innovation in administrative affairs, innovation in marketing, and finally innovation in services. Research findings indicate that there is significant relationship between CRM dimensions and innovation capabilities in Melli bank of Iran.
Keywords: Customer relationship management, innovation capabilities.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1921
4076 The Effects of Loyalty Program Quality on Word -of -Mouth Recommendations Intentions
Authors: Nedra Bahri-Ammari
Abstract:Literature review revealed the importance of the adoption of marketing Relationship for loyalty and retaining profitable customer (Customer Relationship Management). LPQ satisfaction will reinforce the loyalty and customer brand attachment. Customer will communicate the operator to others. The focus of this study is to examine the relationship between the LPPQ and the WOM recommendations through: customer satisfaction, loyalty and attachment. The results show that LPQ affect positively the satisfaction, negatively the loyalty. LPQ has an indirectly effect on WOM recommendations but through the satisfaction and attachment. The mediating effect of satisfaction in the relationship between LPQ and Loyalty is rejected. This finding can be explained by the nature of mobile sector in Tunisia.
Keywords: Attachment, Loyalty program quality, satisfaction, WOMProcedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3285
4075 Social Network Management Enhances Customer Relationship
Authors: Srisawas Siriporn, Rotchanakitumnuai Siriluck
Abstract:The study aims to develop a framework of social network management to enhance customer relationship. Social network management of this research is derived from social network site management, individual and organization social network usage motivation. The survey was conducted with organization employees who have used social network to interact with customers. The results reveal that content, link, privacy and security, page design and interactivity are the major issues of social network site management. Content, link, privacy and security, individual and organization motivation have major impacts on encouraging business knowledge sharing among employees. Moreover, Page design and interactivity, content, organization motivation and knowledge sharing can improve customer relationships.
Keywords: Social network management, social network site, motivation, knowledge sharing, customer relationshipProcedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2021
4074 Implementation of Cloud Customer Relationship Management in Banking Sector: Strategies, Benefits and Challenges
Authors: Ngoc Dang Khoa Nguyen, Imran Ali
Abstract:The cloud customer relationship management (CRM) has emerged as an innovative tool to augment the customer satisfaction and performance of banking systems. Cloud CRM allows to collect, analyze and utilize customer-associated information and update the systems, thereby offer superior customer service. Cloud technologies have invaluable potential to ensure innovative customer experiences, successful collaboration, enhanced speed to marketplace and IT effectiveness. As such, many leading banks have been attracted towards adoption of such innovative and customer-driver solutions to revolutionize their existing business models. Chief Information Officers (CIOs) are already implemented or in the process of implementation of cloud CRM. However, many organizations are still reluctant to take such initiative due to the lack of information on the factors influencing its implementation. This paper, therefore, aims to delve into the strategies, benefits and challenges intertwined in the implementation of cloud CRM in banking sector and provide reliable solutions.
Keywords: Banking sector, cloud computing, cloud CRM, strategy.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 502
4073 Exploring the Relationships between Experiential Marketing, Customer Satisfaction and Customer Loyalty: An Empirical Examination in Konya
Authors: R. Öztürk
Abstract:Experiential marketing is one of the marketing approaches that offer an exceptional framework to integrate elements of experience and entertainment in a product or service. Experiential marketing is defined as a memorable experience that goes deeply into the customer’s mind. Besides that, customer satisfaction is defined as an emotional response to the experiences provided by and associated with particular products or services purchased. Thus, experiential marketing activities can affect the level of customer satisfaction and loyalty. In this context, the research aims to explore the relationship among experiential marketing, customer satisfaction and customer loyalty among the cosmetic products customers in Konya. The partial least squares (PLS) method is used to analyze the survey data. Findings of the present study revealed that experiential marketing has been a significant predictor of customer satisfaction and customer loyalty, and also experiential marketing has a significantly positive effect on customer satisfaction and customer loyalty.
Keywords: Customer satisfaction, customer loyalty, experiential marketing.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 4121
4072 Exploring the Importance of Knowledge Management for CRM Success
Authors: Aurora Garrido-Moreno, Antonio Padilla-Meléndez, Ana Rosa Del Águila-Obra
Abstract:After reporting a literature review on Customer Relationship Management (CRM) and knowledge management, some important issued arise, in particular related to the lack of success of CRM strategies implementation. The paper contributes to this proposing an integrated model of CRM success taking into account complementary factors such as organizational factors, technology, knowledge management and customer orientation.
Keywords: knowledge management, CRM, CRM success, organizational factors.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 5288
4071 mCRM-s New Opportunities of Customer Satisfaction
Authors: Cheng Fang Hsu, Shinn-Jong Lin
Abstract:This paper aims at a new challenge of customer satisfaction on mobile customer relationship management. In this paper presents a conceptualization of mCRM on its unique characteristics of customer satisfaction. Also, this paper develops an empirical framework in conception of customer satisfaction in mCRM. A single-case study is applied as the methodology. In order to gain an overall view of the empirical case, this paper accesses to invisible and important information of company in this investigation. Interview is the key data source form the main informants of the company through which the issues are identified and the proposed framework is built. It supports the development of customer satisfaction in mCRM; links this theoretical framework into practice; and provides the direction for future research. Therefore, this paper is very useful for the industries as it helps them to understand how customer satisfaction changes the mCRM structure and increase the business competitive advantage. Finally, this paper provides a contribution in practice by linking a theoretical framework in conception of customer satisfaction in mCRM for companies to a practical real case.
Keywords: Customer Satisfaction; mCRM; MobileCommunication.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1743
4070 A Quantitative Study about Assessing the Effectiveness of Electronic Customer Relationship Management: A Case of Two Hotels in Mauritius
Authors: Shaheena Erkiah, Adjnu Damar Ladkoo
Worldwide, improving tourism competitiveness has been on the agendas of many stakeholders of the hotel sector, and they seem to have agreed that one of the best ways to compete is via the implementation of electronic customer relationship management (e-CRM). In so doing, the organizations enjoy strategic positioning on the competitive market by managing better not only the customers but, other business components including knowledge and employee management. Over the recent years, the tourism industry in Mauritius has witnessed a drastic economic boom at international and national levels; providing a new outlook to boost business performance through existing and potential customers. E-CRM has been one of the management tools used to achieving this position. Thus, this insightful context- Mauritius- was opted for the study. The aim was to assess the effectiveness of e-CRM as a strategic tool in the hotel sector in Mauritius through the implementation of business strategy to create competitive advantage and impact on the business performance. To achieve the objectives of the study, a quantitative research methodology was adopted and the research revealed that e-CRM is indeed an effective strategic tool in the hotel industry in Mauritius that can provide a competitive advantage and impact positively on the organization’s performance.
Keywords: Customer, electronic, management, relationship, strategic.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1002
4069 The Evolving Customer Experience Management Landscape: A Case Study on the Paper Machine Companies
Authors: Babak Mohajeri, Sen Bao, Timo Nyberg
Customer experience is increasingly the differentiator between successful companies and those who struggle. Currently, customer experiences become more dynamic; and they advance with each interaction between the company and a customer. Every customer conversation and any effort to evolve these conversations would be beneficial and should ultimately result in a positive customer experience. The aim of this paper is to analyze the evolving customer experience management landscape and the relevant challenges and opportunities. A case study on the “paper machine” companies is chosen. Hence, this paper analyzes the challenges and opportunities in customer experience management of paper machine companies for the case of “road to steel”. Road to steel shows the journey of steel from raw material to end product (i.e. paper machine in this paper). ALPHA (Steel company) and BETA (paper machine company), are chosen and their efforts to evolve the customer experiences are investigated. Semi-structured interviews are conducted with experts in those companies to identify the challenges and opportunities of the evolving customer experience management from their point of view. The findings of this paper contribute to the theory and business practices in the realm of the evolving customer experience management landscape.
Keywords: Customer experience management, paper machine risk analysis, value chain management.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 887
4068 The Effect of Innovation Factors to Customer Loyalty by Structural Equation Model
Authors: M. Dachyar, Fatkhurrohman
Abstract:Innovation is being view from four areas of innovation, product, service, technology, and marketing. Whereas customer loyalty is composed of customer expectation, perceived quality, perceived value, corporate image, customer satisfaction, customer trust/confidence, customer commitment, customer complaint, and customer loyalty. This study aimed to investigate the influence of innovation factors to customer loyalty to GSM in the telecom companies where use of products and services. Structural Equation Modeling (SEM) using to analyze innovation factors. It was found the factor of innovation have significant influence on customer loyalty.
Keywords: Innovation, telecommunication, customer loyalty, SEMProcedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3270
4067 Proposing a Conceptual Model of Customer Knowledge Management: A Study of CKM Tools in British Dotcoms
Authors: Mehdi Shami Zanjani, Roshanak Rouzbehani, Hosein Dabbagh
Although current competitive challenges induced by today-s digital economy place their main emphasis on organizational knowledge, customer knowledge has been overlooked. On the other hand, the business community has finally begun to realize the important role customer knowledge can play in the organizational boundaries of the corporate arena. As a result, there is an emerging market for the tools and utilities whose objective is to provide the intelligence for knowledge sharing between the businesses and their customers. In this paper, we present a conceptual model of customer knowledge management by identifying and analyzing the existing tools in the market. The focus will be upon the emerging British dotcom industry whose customer based B2C behavior has been an influential part of the knowledge based intelligence tools in existence today.
Keywords: Customer knowledge, customer knowledge management, knowledge management, B2C E-commerce.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3237
4066 The Influence of Website Quality on Customer E-Satisfaction in Low Cost Airline
Authors: Zainab bt Khalifah, Wong Chiet Bing, Noor Hazarina Hashim
The evolution of customer behavior in purchasing products or services through the Internet leads to airline companies engaging in the e-ticketing process in order to maintain their business. A well-designed website is vitally significant for the airline companies to provide effective communication, support, and competitive advantage. This study was conducted to identify the dimensions of website quality for low cost airline and to investigate the relationship between the website quality and customer esatisfaction at low cost airline. A total of 381 responses were conveniently collected among local passengers at Low Cost Carrier Terminal, Kuala Lumpur via questionnaire distribution. This study found that the five determinant factors of website quality for AirAsia were Information Content, Navigation, Responsiveness, Personalization, and Security and Privacy. The results of this study revealed that there is a positive relationship between the five dimensions of website quality and customer e-satisfaction, and also information content was the most significant contributor to customer e-satisfaction.
Keywords: Website Quality, Customer E-Satisfaction, Low Cost Airline.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3621
4065 Customer Satisfaction and Effective HRM Policies: Customer and Employee Satisfaction
Authors: S. Anastasiou, C. Nathanailides
The purpose of this study is to examine the possible link between employee and customer satisfaction. The service provided by employees, help to build a good relationship with customers and can help at increasing their loyalty. Published data for job satisfaction and indicators of customer services of banks were gathered from relevant published works which included data from five different countries. The scores of customers and employees satisfaction of the different published works were transformed and normalized to the scale of 1 to 100. The data were analyzed and a regression analysis of the two parameters was used to describe the link between employee’s satisfaction and customer’s satisfaction. Assuming that employee satisfaction has a significant influence on customer’s service and the resulting customer satisfaction, the reviewed data indicate that employee’s satisfaction contributes significantly on the level of customer satisfaction in the Banking sector. There was a significant correlation between the two parameters (Pearson correlation R2=0.52 P<0.05). The reviewed data indicate that published data support the hypothesis that practical evidence link these two parameters. During the recent global economic crisis, the financial services sector was affected severely and job security, remuneration and recruitment of personnel of banks was in many countries, including Greece, significantly reduced. Nevertheless, modern organizations should always consider their personnel as a capital, which is the driving force for success in the future. Appropriate human resource management policies can increase the level of job satisfaction of the personnel with positive consequences for the level of customer’s satisfaction.
Keywords: Job satisfaction, job performance, customer service, banks, human resources management.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 4950
4064 Influence of Service and Product Quality towards Customer Satisfaction: A Case Study at the Staff Cafeteria in the Hotel Industry
Authors: Dayang Nailul Munna Abang Abdullah, Francine Rozario
Abstract:The main objectives of this study were to identify attributes that influence customer satisfaction and determine their relationships with customer satisfaction. The variables included in this research are place/ambience, food quality and service quality as independent variables and customer satisfaction as the dependent variable. A survey questionnaire which consisted of three parts to measure demographic factors, independent variables, and dependent variables was constructed based on items determined by past research. 149 respondents from one of the well known hotel in Kuala Lumpur, MALAYSIA were selected as a sample. Psychometric testing was conducted to determine the reliability and validity of the questionnaire. From the findings, there were positive significant relationship between place/ambience (r=0.563**, p=0.000) and service quality (r=0.544**, p=0.000) with customer satisfaction. However, although relationship between food quality and customer satisfaction was significant, it was in the negative direction (r=- 0.268**, p=0.001). New findings were discovered after conducting this research and previous research findings were strengthened by the results of this research. Future researchers could concentrate on determining attributes that influence customer satisfaction when cost/price is not a factor and reasons for place/ambience is currently becoming the leading factor in determining customer satisfaction.
Keywords: Ambience, Customer Satisfaction, Food Quality, Service Quality.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 15035
4063 Customer Audits as a Quality Control Tool for Both Suppliers and Customers
Authors: Denisa Ferenčíková, Petr Briš
Customer audits are generally used to ensure customer that supplier is continuously able to meet his requirements while supplying him required products and services. However, customer audits can be considered as a very useful quality control tool for suppliers as well. In our paper, we analyzed the process of customer audits realized in Czech companies from both perspectives: a supplier´s viewpoint and customer´s viewpoint. At the end, we tried to emphasize some areas that should not be omitted during the audit process.
Keywords: Customer Audit, Quality Control, Quality Management, Product Quality, Service Quality, Process Quality.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3866
4062 Evaluating Customer Satisfaction as an Aspect of Quality Management
Authors: Olga V. Krivobokova
Abstract:A major goal of any enterprise is to create a ratings system of customer satisfaction, goods and services. It is obvious that the company cannot change what is not measured. In order to get a clearer picture of the preferences of the major consumer groups, this stage should be based on extensive research, including a variety of interviews and surveys. It is necessary to know the key benefits, which determine customer satisfaction in the market segment, of the properties of certain goods and services. It is important to estimate the terms of these preferences from the viewpoint of the client. This article discusses the importance of customer satisfaction, and ways of assessing it.
Keywords: Costs, customer, evaluation, organization, producer, quality management, satisfaction.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1784
4061 Application of the Improved QFD Method Case Study: Kitchen Utensils Rack Design
Authors: Dini Endah Setyo Rahaju, Dian Retno Sari Dewi
This paper presents an application of the improved QFD method for determining the specifications of kitchen utensils rack. By using the improved method, the subjective nature in original QFD was reduced; particularly in defining the relationship between customer requirement and engineering characteristics. The regression analysis that was used for obtaining the relationship functions between customer requirement and engineering characteristics also accommodated the inaccurateness of the competitive assessment results. The improved method which is represented in the form of a mathematical model had become a formal guidance to allocate the resource for improving the specifications of kitchen utensils rack. The specifications obtained had led to the achievement of the highest feasible customer satisfaction.
Keywords: Customer satisfaction, kitchen utensils rack design, QFD, specifications.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1494
4060 The Research of Fuzzy Classification Rules Applied to CRM
Authors: Chien-Hua Wang, Meng-Ying Chou, Chin-Tzong Pang
Abstract:In the era of great competition, understanding and satisfying customers- requirements are the critical tasks for a company to make a profits. Customer relationship management (CRM) thus becomes an important business issue at present. With the help of the data mining techniques, the manager can explore and analyze from a large quantity of data to discover meaningful patterns and rules. Among all methods, well-known association rule is most commonly seen. This paper is based on Apriori algorithm and uses genetic algorithms combining a data mining method to discover fuzzy classification rules. The mined results can be applied in CRM to help decision marker make correct business decisions for marketing strategies.
Keywords: Customer relationship management (CRM), Data mining, Apriori algorithm, Genetic algorithm, Fuzzy classification rules.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1536
4059 A New Model for e-CRM in e-Commerce using Live-Operator
Authors: Samin Jirehbandei, Alireza Nemaney Pour
Abstract:Bythe development of the Internet, e-commerce has got very popular between organizations. E-commerce means buying and selling products and services over the Internet. One of the challenging issues in e-commerce is how to attract the customers and how to satisfy them. Therefore, it is important to keep good relationship with the customers. This paper proposes a new model to increase the customer satisfaction by introducing live-operator. Live-operator is a system which is involved both with the customers and the organization.In this system the customers feelthatthey receive the service directly from the organization. This model decreases the response time and the customer loss. Moreover, it increases customer trust and the ability of organizations.
Keywords: Customer, Customer Satisfaction, e-Commerce, e-CRM, Live-Operator, OrganizationProcedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2266
4058 Driving Innovation by Enhancing Employee Roles: The Balancing Act of Employee-Driven Innovation
Authors: L. Tirabeni, K. E. Soderquist, P. Pisano
Abstract:Our purpose is to investigate how the relationship between employees and innovation management processes can drive organizations to successful innovations. This research is deeply related to a new way of thinking about human resources management practices. It’s not simply about improving the employees’ engagement, but rather about a different and more radical commitment: the employee can take on the role traditionally played by the customer, namely to become the first tester of an innovative product or service, the first user/customer and eventually the first investor in the innovation. This new perception of employees could create the basis of a novelty in the innovation process where innovation is taken to a next level when the problems with customer driven innovation on the one hand, and employees driven innovation on the other can be balanced. This research identifies an effective approach to innovation where the employees will participate throughout the whole innovation process, not only in the idea creation but also in the idea definition and development by giving feedback in parallel to that provided by customers and lead-users.
Keywords: Employee-Driven Innovation, engagement, human resource management, innovative companies.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1837
4057 Mobile Phone Banking Applies and Customer Intention - A Case Study in Libya
Authors: Iman E. Bouthahab, Badea B. Geador
Aim of this paper is to explore the prospect of a new approach of mobile phone banking in Libya. This study evaluates customer knowledge on commercial mobile banking in Libya. To examine the relationship between age, occupation and intention for using mobile banking for commercial purpose, a survey was conducted to gather information from one hundred Libyan bank clients. The results indicate that Libyan customers have accepted the new technology and they are ready to use it. There is no significant joint relationship between age and occupation found in intention to use mobile banking in Libya. On the other hand, the customers’ knowledge about mobile banking has a greater relationship with the intention. This study has implications for demographic researches and consumer behaviour disciplines. It also has profitable implications for banks and managers in Libya, as it will assist in better understanding of the Libyan consumers and their activities, when they develop their market strategies and new service.
Keywords: Banks in Libya, Customer Knowledge, Intention, Mobile banking.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2518
4056 The Influence of Consumer and Brand-Oriented Capabilities on Business Performance in Young Firms: A Quantitative Causal Model Analysis
Authors: Katharina Buttenberg
Customer and brand-oriented capabilities have been identified as key influencing capabilities for business performance. Especially in the early years of the firm, it is crucial to develop and consciously manage these capabilities. In this paper, the results of a quantitative analysis, investigating the causal relationship between customer- and brand-oriented (marketing) capabilities and business performance will be presented. The research displays the dependencies between the constructs and will provide practical implications for young firms in the acquisition and management of these capabilities.
Keywords: Brand-oriented capabilities, customer-oriented capabilities, entrepreneurship, resource-based theory, young firms.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 747
4055 The Importance of Customer Engagement and Service Innovation in Value Co-Creation
Authors: Soheila Raeisi, Meng Lingjie
The interaction of customers with businesses is a process that is critical to the running of those businesses. Different levels of customer engagement and service innovation exist when pursuing value co-creation endeavors. The important thing in this whole process is for business managers know the benefits that can be realized when these activities are pursued effectively. The purpose of this paper is to first identify the importance of value co-creation when pursued via customer engagement and service innovation. Secondly, it will also identify the conditions under which value co-destruction can occur on the same. The background of the topic will be reviewed followed by the literature review with a special focus on the definition of these terms and the research design to be used. The research found that it is beneficial to have a strong relationship between stakeholders and the business in order to have strong customer engagement and service innovation.
Keywords: Customer engagement, service innovation, value co-creation, value co-destruction.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2555
4054 Churn Prediction for Telecommunication Industry Using Artificial Neural Networks
Authors: Ulas Vural, M. Ergun Okay, E. Mesut Yildiz
Abstract:Telecommunication service providers demand accurate and precise prediction of customer churn probabilities to increase the effectiveness of their customer relation services. The large amount of customer data owned by the service providers is suitable for analysis by machine learning methods. In this study, expenditure data of customers are analyzed by using an artificial neural network (ANN). The ANN model is applied to the data of customers with different billing duration. The proposed model successfully predicts the churn probabilities at 83% accuracy for only three months expenditure data and the prediction accuracy increases up to 89% when the nine month data is used. The experiments also show that the accuracy of ANN model increases on an extended feature set with information of the changes on the bill amounts.
Keywords: Customer relationship management, churn prediction, telecom industry, deep learning, Artificial Neural Networks, ANN.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 580
4053 Understanding Cruise Passengers’ On-board Experience throughout the Customer Decision Journey
Authors: Sabina Akter, Osiris Valdez Banda, Pentti Kujala, Jani Romanoff
This paper examines the relationship between on-board environmental factors and customer overall satisfaction in the context of the cruise on-board experience. The on-board environmental factors considered are ambient, layout/design, social, product/service and on-board enjoyment factors. The study presents a data-driven framework and model for the on-board cruise experience. The data are collected from 893 respondents in an application of a self-administered online questionnaire of their cruise experience. This study reveals the cruise passengers’ on-board experience through the customer decision journey based on the publicly available data. Pearson correlation and regression analysis have been applied, and the results show a positive and a significant relationship between the environmental factors and on-board experience. These data help understand the cruise passengers’ on-board experience, which will be used for the ultimate decision-making process in cruise ship design.
Keywords: Cruise behavior, on-board environmental factors, on-board experience, user or customer satisfaction.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 696
4052 Competitors’ Influence Analysis of a Retailer by Using Customer Value and Huff’s Gravity Model
Authors: Yepeng Cheng, Yasuhiko Morimoto
Abstract:Customer relationship analysis is vital for retail stores, especially for supermarkets. The point of sale (POS) systems make it possible to record the daily purchasing behaviors of customers as an identification point of sale (ID-POS) database, which can be used to analyze customer behaviors of a supermarket. The customer value is an indicator based on ID-POS database for detecting the customer loyalty of a store. In general, there are many supermarkets in a city, and other nearby competitor supermarkets significantly affect the customer value of customers of a supermarket. However, it is impossible to get detailed ID-POS databases of competitor supermarkets. This study firstly focused on the customer value and distance between a customer's home and supermarkets in a city, and then constructed the models based on logistic regression analysis to analyze correlations between distance and purchasing behaviors only from a POS database of a supermarket chain. During the modeling process, there are three primary problems existed, including the incomparable problem of customer values, the multicollinearity problem among customer value and distance data, and the number of valid partial regression coefficients. The improved customer value, Huff’s gravity model, and inverse attractiveness frequency are considered to solve these problems. This paper presents three types of models based on these three methods for loyal customer classification and competitors’ influence analysis. In numerical experiments, all types of models are useful for loyal customer classification. The type of model, including all three methods, is the most superior one for evaluating the influence of the other nearby supermarkets on customers' purchasing of a supermarket chain from the viewpoint of valid partial regression coefficients and accuracy.
Keywords: Customer value, Huff's Gravity Model, POS, retailer.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 438
4051 A Design for Customer Preferences Model by Cluster Analysis of Geometric Features and Customer Preferences
Authors: Yuan-Jye Tseng, Ching-Yen Chen
In the design cycle, a main design task is to determine the external shape of the product. The external shape of a product is one of the key factors that can affect the customers’ preferences linking to the motivation to buy the product, especially in the case of a consumer electronic product such as a mobile phone. The relationship between the external shape and the customer preferences needs to be studied to enhance the customer’s purchase desire and action. In this research, a design for customer preferences model is developed for investigating the relationships between the external shape and the customer preferences of a product. In the first stage, the names of the geometric features are collected and evaluated from the data of the specified internet web pages using the developed text miner. The key geometric features can be determined if the number of occurrence on the web pages is relatively high. For each key geometric feature, the numerical values are explored using the text miner to collect the internet data from the web pages. In the second stage, a cluster analysis model is developed to evaluate the numerical values of the key geometric features to divide the external shapes into several groups. Several design suggestion cases can be proposed, for example, large model, mid-size model, and mini model, for designing a mobile phone. A customer preference index is developed by evaluating the numerical data of each of the key geometric features of the design suggestion cases. The design suggestion case with the top ranking of the customer preference index can be selected as the final design of the product. In this paper, an example product of a notebook computer is illustrated. It shows that the external shape of a product can be used to drive customer preferences. The presented design for customer preferences model is useful for determining a suitable external shape of the product to increase customer preferences.
Keywords: Cluster analysis, customer preferences, design evaluation, design for customer preferences, product design.Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 596