• Title/Summary/Keyword: Customer Acquisition

Search Result 117, Processing Time 0.027 seconds

The Environmental Factors affecting Customers' Self-Determined Relationship Development and Performance (고객의 자기결정적 관계발전에 영향을 미치는 환경적 요인과 그 성과)

  • Suh, Mun-Shik
    • Management & Information Systems Review
    • /
    • v.30 no.2
    • /
    • pp.81-111
    • /
    • 2011
  • Relationship Marketing has been dealt with as an effective strategy to sustain customer loyalty in many previous researches. For relationship development, a customer's efforts are necessary as well as an organization's efforts. However, the role of customers for the development of the relationship with an organization has been dealt in few previous researches so far. Furthermore, whereas researchers understand the importance of consumers' motivation in the relationship, few researchers had paid attention. This research is based on the Self-Determination Theory (SDT) to explain the role of customer motivation in the process of relationship development and performance. We started by using SDT to confirm the psychological side of relationship development in customer aspects. Then, this paper verified the relationships among environmental factors(informative communication, perceived personalization), relationship motivation(identified motivation, internal motivation) and relational factors(affective commitment, relationship strength). It suggested that customer's roles in psychological parts be inevitable in developing the relationship and it acquired by such stimulations from service providers. In conclusion, this paper has several marketing implications on customer acquisition and retention. For service providers, they should recognize the fact that a customer's perception of self-determination factors can generate tangible and intangible performance in relationship development.

  • PDF

Adjustment of Load Regression Coefficients and Demand-Factor for the Peak Load Estimation of Pole-Type Transformers (주상 변압기 최대부하 추정을 위한 부하상관계수 및 수용율 조정)

  • Yun, Sang-Yun;Kim, Jae-Chul;Park, Kyung-Ho;Moon, Jong-Fil;Lee, Jin;Park, Chang-Ho
    • The Transactions of the Korean Institute of Electrical Engineers A
    • /
    • v.53 no.2
    • /
    • pp.87-96
    • /
    • 2004
  • This paper summarizes the research results of the load management for pole transformers done in 1997-1998 and 2000-2002. The purpose of the research is to enhance the accuracy of peak load estimation in pole transformers. We concentrated our effort on the acquisition of massive actual load data for modifying the load regression coefficients, which related to the peak load estimation of lamp-use customers, and adjusting the demand-factor coefficients, which used for the peak load prediction of motor-use customers. To enhance the load regression equations, the 264 load data acquisition devices are equipped to the sample pole transformers. For the modification of demand factor coefficients, the peak load currents are measured in each customer and pole transformer for 13 KEPCO (Korea Electric Power Corporation) distribution branch offices. Case studies for 50 sample pole transformers show that the proposed coefficients could reduce estimating error of the peak load for pole transformers, compared with the conventional one.

Perceived Product Value and Attitude Change Affecting Web-based Price Discount Level and Scarcity (웹 기반 가격할인 수준과 희소성이 영향을 주는 지각된 제품 가치와 태도 변화)

  • Zhang, Yutao;Lim, Hyun-A;Choi, Jaewon
    • The Journal of Information Systems
    • /
    • v.27 no.2
    • /
    • pp.157-173
    • /
    • 2018
  • Purpose Product characteristics and price value in website have strongly effects on customer satisfaction. Especially, in the online shopping site, the scarcity limits the customer's opportunity to purchase the product. Thus scarcity has been proposed as a important factor that makes the customer highly aware of the merchantability of the product. The scarcity in the web store is used as an important variable to make purchasing decisions of users easier by psychological pressure. In the case of scarce products with price discounts in online commerce, advertising formats that highlight scarcity value in the web commerce market are very effective in enhancing purchase intentions of consumers. Unlike offline stores, the importance of scarcity becomes more important when reflecting the characteristics of online commerce. Therefore, this study intends to confirm the influence of the degree of price discounts and scarcity information presented by Web sites on consumer purchase behavior in Web purchase behavior. Design/methodology/approach This study conducted a web-based experimental study on price sensitivity and price discount. Therefore, we created experimental web-sites that offer two stimuli according to the discount rate. The 200 respondents were randomly assigned. The stimuli were fictitious based on tourism products. The first stimulus presented the price discount(15% discount) with basic explanation about the package of the tourist package. The stimuli assigned to the second group were used for groups with high price discount intensity(65% discount). In this way, the two stimuli clearly distinguished the level of price discount intensity. This paper conducted t-test analysis and structural equation to analyze the experiemental results after confirming the reliability and validity. Findings The results of this study are as follows. The difference in price discount intensity (15% vs 65%) with scarcity showed the mean difference among all the variables. Therefore, this study concluded that there is a significant difference between the price discount of 15% and 65% for the acquisition value and transaction value of users. In particular, consumers' purchase intention is greater and product recommendation intensity is stronger when the price discount is 65%. As a result, the high degree of the price discount intensity with scarcity exerts a greater influence on consumers' purchase intentions. Product scarcity also have a significant impact on perceived value of users. Therefore, purchase intention of customers increases when perceived value increases their profit and pleasure feeling.

The Relationship between Social Media and Consumer Purchase Decision: Findings from Seoul Sharing Bike (소셜미디어와 소비자 구매 결정과의 관계: 서울 공유 자전거에 대한 시계열 분석을 중심으로)

  • Han, Suhyeon;Jang, Junghwa;Choi, Jeonghye;Chang, Sue Ryung
    • Knowledge Management Research
    • /
    • v.22 no.4
    • /
    • pp.135-155
    • /
    • 2021
  • With the emergence of various types of social media and the diversification of their roles, it has become essential for marketers to understand how different types of social media influence consumers' purchase decisions differently and derive more detailed strategies by social media types. This study classifies social media into two types-expression-focused social media and relationship-focused social media-and investigates the relationship between consumer purchases and social media mentions by type. Using the Seoul bike-sharing data and time-series data for social media mentions, we apply the VAR model with Exogenous Variables (VARX). We find that the increase of product mentions in expression-focused social media positively affects both the number of new customers (customer acquisition) and the number of shared bike rentals, while that in relationship-focused social media negatively affects the number of new customers only. In addition, as new customers increase, the product mentions in both types of social media increase. On the other hand, the number of bike rentals has no significant effect in increasing social media mentions regardless of type. This study contributes to the social media and sharing economy literature and provides managerial implications for establishing sophisticated social media marketing in bike-sharing businesses.

A Methodology of Customer Churn Prediction based on Two-Dimensional Loyalty Segmentation (이차원 고객충성도 세그먼트 기반의 고객이탈예측 방법론)

  • Kim, Hyung Su;Hong, Seung Woo
    • Journal of Intelligence and Information Systems
    • /
    • v.26 no.4
    • /
    • pp.111-126
    • /
    • 2020
  • Most industries have recently become aware of the importance of customer lifetime value as they are exposed to a competitive environment. As a result, preventing customers from churn is becoming a more important business issue than securing new customers. This is because maintaining churn customers is far more economical than securing new customers, and in fact, the acquisition cost of new customers is known to be five to six times higher than the maintenance cost of churn customers. Also, Companies that effectively prevent customer churn and improve customer retention rates are known to have a positive effect on not only increasing the company's profitability but also improving its brand image by improving customer satisfaction. Predicting customer churn, which had been conducted as a sub-research area for CRM, has recently become more important as a big data-based performance marketing theme due to the development of business machine learning technology. Until now, research on customer churn prediction has been carried out actively in such sectors as the mobile telecommunication industry, the financial industry, the distribution industry, and the game industry, which are highly competitive and urgent to manage churn. In addition, These churn prediction studies were focused on improving the performance of the churn prediction model itself, such as simply comparing the performance of various models, exploring features that are effective in forecasting departures, or developing new ensemble techniques, and were limited in terms of practical utilization because most studies considered the entire customer group as a group and developed a predictive model. As such, the main purpose of the existing related research was to improve the performance of the predictive model itself, and there was a relatively lack of research to improve the overall customer churn prediction process. In fact, customers in the business have different behavior characteristics due to heterogeneous transaction patterns, and the resulting churn rate is different, so it is unreasonable to assume the entire customer as a single customer group. Therefore, it is desirable to segment customers according to customer classification criteria, such as loyalty, and to operate an appropriate churn prediction model individually, in order to carry out effective customer churn predictions in heterogeneous industries. Of course, in some studies, there are studies in which customers are subdivided using clustering techniques and applied a churn prediction model for individual customer groups. Although this process of predicting churn can produce better predictions than a single predict model for the entire customer population, there is still room for improvement in that clustering is a mechanical, exploratory grouping technique that calculates distances based on inputs and does not reflect the strategic intent of an entity such as loyalties. This study proposes a segment-based customer departure prediction process (CCP/2DL: Customer Churn Prediction based on Two-Dimensional Loyalty segmentation) based on two-dimensional customer loyalty, assuming that successful customer churn management can be better done through improvements in the overall process than through the performance of the model itself. CCP/2DL is a series of churn prediction processes that segment two-way, quantitative and qualitative loyalty-based customer, conduct secondary grouping of customer segments according to churn patterns, and then independently apply heterogeneous churn prediction models for each churn pattern group. Performance comparisons were performed with the most commonly applied the General churn prediction process and the Clustering-based churn prediction process to assess the relative excellence of the proposed churn prediction process. The General churn prediction process used in this study refers to the process of predicting a single group of customers simply intended to be predicted as a machine learning model, using the most commonly used churn predicting method. And the Clustering-based churn prediction process is a method of first using clustering techniques to segment customers and implement a churn prediction model for each individual group. In cooperation with a global NGO, the proposed CCP/2DL performance showed better performance than other methodologies for predicting churn. This churn prediction process is not only effective in predicting churn, but can also be a strategic basis for obtaining a variety of customer observations and carrying out other related performance marketing activities.

Rule Acquisition Using Ontology Based on Graph Search (그래프 탐색을 이용한 웹으로부터의 온톨로지 기반 규칙습득)

  • Park, Sangun;Lee, Jae Kyu;Kang, Juyoung
    • Journal of Intelligence and Information Systems
    • /
    • v.12 no.3
    • /
    • pp.95-110
    • /
    • 2006
  • To enhance the rule-based reasoning capability of Semantic Web, the XRML (eXtensible Rule Markup Language) approach embraces the meta-information necessary for the extraction of explicit rules from Web pages and its maintenance. To effectuate the automatic identification of rules from unstructured texts, this research develops a framework of using rule ontology. The ontology can be acquired from a similar site first, and then can be used for multiple sites in the same domain. The procedure of ontology-based rule identification is regarded as a graph search problem with incomplete nodes, and an A* algorithm is devised to solve the problem. The procedure is demonstrated with the domain of shipping rates and return policy comparison portal, which needs rule based reasoning capability to answer the customer's inquiries. An example ontology is created from Amazon.com, and is applied to the many online retailers in the same domain. The experimental result shows a high performance of this approach.

  • PDF

Hierarchical Associative Frame with Learning and Episode memory for the intelligent Knowledge Retrieval

  • Shim, Jeon-Yon
    • 제어로봇시스템학회:학술대회논문집
    • /
    • 2004.08a
    • /
    • pp.694-698
    • /
    • 2004
  • In this paper, as one of these efforts for making the intelligent data mining system we propose the Associative frame of the memory according to the following three steps. First,the structured frame for performing the main brain function should be made. In this frame, the concepts of learning memory and episode memory are considered. Second,the learning mechanism for data acquisition and storing mechanism in the memory frame are provided. The obtained data are arranged and stored in the memory following the rules of the structured memory frame. Third, it is the last step of processing the inference and knowledge retrieval function using the stored knowledge in the associative memory frame. This system is applied to the area for estimating the purchasing degree from the type of customer's tastes, the pattern of commodities and the evaluation of a company.

  • PDF

A study on the factors affecting the usage and diffusion of Mobile Easy Payment Services

  • Lee, Eunyoung;Shin, Chan;Baatdawa, Baatdawa
    • International Journal of Advanced Culture Technology
    • /
    • v.8 no.1
    • /
    • pp.38-43
    • /
    • 2020
  • This study examines the factors affecting the usage and diffusion of mobile easy payment services which is fast growing industry recently. After wide reviewing previous research about mobile payment, Some factors are identified as the factors influencing intention to use mobile easy payment services-confidence, innovativeness, mobile self-efficacy, relative advantage- through several mediating factors- perceived ease, perceived usefulness, perceived risk. Empirical study for a research model showed confidence, mobile self-efficacy and relative advantage are effective to the intention to use mobile easy payment services via perceived usefulness and perceived risk. Based on the results of the study, some practical implication for customer retention and acquisition are suggested.

Enterprise establishment make use of CRM (CRM 정보를 활용한 창업)

  • Kim Chul-Jung
    • The Journal of Information Technology
    • /
    • v.6 no.3
    • /
    • pp.115-135
    • /
    • 2003
  • Customers expect to make a long-term relationship with customers more efficiently, marketing developed gradually. With the help of Internet of Telecommunication, communication with customers and the frequency and speed of the problem solving has improved greatly. Recently customers expect more and more personal contact with companies. CRM system called personal marketing and personalization can be a powerful tool for customer acquisition and support. This paper studied a brief introduction to the CRM system and go into the problems that should be considered which phase to emphasize what Enterprise Establishment evolvement.

  • PDF

Pattern Classification of Load Demand for Distribution Transformer (배전용 변압기 부하사용 패턴분류)

  • Yun, Sang-Yun;Kim, Jae-Chul;Lee, Young-Suk
    • Proceedings of the KIEE Conference
    • /
    • 2001.05a
    • /
    • pp.89-91
    • /
    • 2001
  • This paper presents the result of pattern classification of load demand for distribution transformer in domestic. The field data of load demand is measured using the load acquisition device and the measurement data is used for the database system for load management of distribution transformed. For the pattern classification, the load data and the customer information data are also used. The K-MEAN method is used for the pattern classification algorithm. The result of pattern classification is used for the 2-step format of load demand curve.

  • PDF