• Title/Summary/Keyword: Selling Process

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Predicting Selling Price of First Time Product for Online Seller using Big Data Analytics

  • Deora, Sukhvinder Singh;Kaur, Mandeep
    • International Journal of Computer Science & Network Security
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    • v.21 no.2
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    • pp.193-197
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    • 2021
  • Customers are increasingly attracted towards different e-commerce websites and applications for the purchase of products significantly. This is the reason the sellers are moving to different internet based services to sell their products online. The growth of customers in this sector has resulted in the use of big data analytics to understand customers' behavior in predicting the demand of items. It uses a complex process of examining large amount of data to uncover hidden patterns in the information. It is established on the basis of finding correlation between various parameters that are recorded, understanding purchase patterns and applying statistical measures on collected data. This paper is a document of the bottom-up strategy used to manage the selling price of a first-time product for maximizing profit while selling it online. It summarizes how existing customers' expectations can be used to increase the sale of product and attract the attention of the new customer for buying the new product.

A Study on System Applications of e-CRM to Enforcement of consumer Service (e-Commerce 쇼핑몰의 소비자 서비스 강화를 위한 활용연구)

  • Kim Yeonjeong
    • Journal of the Korean Home Economics Association
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    • v.43 no.3 s.205
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    • pp.1-10
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    • 2005
  • The purpose of this study was to investigate the enforcement strategy for Consumer Service marketing of an e-Commerce shopping mall. An e-CRM for a Cosmetic e-Commerce shopping mall, Data Warehousing(DW) component, analysis of data mining of the DW, and web applications and strategies had to developed for marketing of consumer service satisfaction. The major findings were as follows: An RFM analysis was used for consumer classification, which is a fundamental process of e-CRM application. The components of the DW were web sales data and consumer data fields. The visual process of consumer segmentations (superior consumer class) for e-CRM solutions is presented. The association analysis algorithm of data mining to up-selling and cross-selling indicates an association rule. These e-CRM results apply web DB marketing and operating principles to a shopping mall. Therefore, the system applications of e-CRM to Consumer services indicate a marketing strategy for consumer-oriented management.

Effects of Emotional Regulation Processes on Adaptive Selling Behavior and Sales Performance

  • Kim, Joonhwan;Lee, Sungho;Shin, Dongwoo;Song, Ji-Hee
    • Asia Marketing Journal
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    • v.16 no.1
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    • pp.71-100
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    • 2014
  • While the role of emotional antecedents of effective selling behavior would be important, the issue has not been fully addressed in the sales literature. To fill this gap, we conceptualize and empirically examine the relationships among salesperson's emotional regulation processes such as emotional intelligence (EI) and emotional labor (EL), effective selling behavior, and sales performance on the basis of educational, occupational, social psychology literature and marketing literature (e.g., Henning-Thurau, Groth, Paul, and Gremler 2006; Kidwell et al. 2011; Liu et al. 2008; Mayer, Salovey, and Caruso 2008). First, salesperson's EI is defined as his or her capability that enables correct perceptions about emotional situations in sales interactions. The EI is expected to work as psychological resources for different types of EL (i.e., deep acting and surface acting) to be performed by salesperson as emotional expression strategies (e.g., Lie et al. 2008). It is, then, expected that the features of EL selected by the salesperson would lead to different levels of adaptive selling behavior (ASB) and thereby sales performance (Monaghan 2006). Further, given that salesperson's customer orientation (CO) is found to be an important correlate of ASB (Franke and Park 2006), it is expected that CO would moderate the relationship between EL and ASB (Rozell, Pettijohn, and Parker 2004). Hence, this research attempts to shed additional light on emotionally-driven (EL) as well as cognitively-driven (CO) antecedents of ASB (Frank and Park 2006). The findings of the survey research, done with 336 salespersons in insurance and financial companies, are summarized as follows. First, salespersons with a high level of EI are found to use both deep acting (regulating the emotions themselves) and surface acting (controlling only emotional expressions) in a versatile way, when implementing EL. Second, the more the salesperson performs deep acting, the more he or she shows ASB. It is, then, important for salespersons to use deep acting more frequently in the EL process in order to enhance the quality of interacting with customers through ASB. On the other hand, the salesperson's surface acting did not have a significant relationship with ASB. Moreover, CO was found to moderate the relationship between the salesperson's deep acting and ASB. That is, the context of high CO culture and individual salesperson's deep acting would synergistically make the selling efforts adaptive to customer preferences. Conceptualizing and empirically verifying the antecedent roles of important emotional constructs such as EI and EL in salesperson's effective selling behavior (ASB) and sales performance is a major theoretical contribution in the sales literature. Managerially, this research provides a deeper understanding on the nature of tasks performed by salespersons in service industries and a few guidelines for managing the sales force. First, sales organizations had better consciously assess EI capacity in the selection and nurturing processes of salespersons, given that EI can efficiently drive EL and the resulting effective selling behavior and performance. Further, the concept of EL could provide a framework to understand the salespersons' emotional experiences in depth. Especially, sales organizations may well think over how to develop deep acting capabilities of their sales representatives. In this direction, the training on deep acting strategies would be an essential task for improving effective selling behavior and performance of salespersons. This kind of training had better incorporate the perspectives of customers such that many customers can actually discern whether salespersons are doing either surface acting or deep acting. Finally, based on the synergistic effects of deep acting and CO culture, how to build and sustain CO is always an ever-important task in sales organizations. While the prior sales literature has emphasized the process and structure of highly customer-oriented sales organization, our research not only corroborates the important aspects of customer-oriented sales organization, but also adds the important dimension of competent sales representatives who can resonate with customers by deep acting for sales excellence.

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Fuzzy Regression Model Using Trapezoidal Fuzzy Numbers for Re-auction Data

  • Kim, Il Kyu;Lee, Woo-Joo;Yoon, Jin Hee;Choi, Seung Hoe
    • International Journal of Fuzzy Logic and Intelligent Systems
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    • v.16 no.1
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    • pp.72-80
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    • 2016
  • Re-auction happens when a bid winner defaults on the payment without making second in-line purchase declaration even after determining sales permission. This is a process of selling under the court's authority. Re-auctioning contract price of real estate is largely influenced by the real estate business, real estate value, and the number of bidders. This paper is designed to establish a statistical model that deals with the number of bidders participating especially in apartment re-auctioning. For these, diverse factors are taken into consideration, including ratio of minimum sales value from the point of selling to re-auctioning, number of bidders at the time of selling, investment value of the real estate, and so forth. As an attempt to consider ambiguous and vague factors, this paper presents a comparatively vague concept of real estate and bidders as trapezoid fuzzy number. Two different methods based on the least squares estimation are applied to fuzzy regression model in this paper. The first method is the estimating method applying substitution after obtaining the estimators of regression coefficients, and the other method is to estimate directly from the estimating procedure without substitution. These methods are provided in application for re-auction data, and appropriate performance measure is also provided to compare the accuracies.

The Effect of Salesperson's Adaptive Selling Tactics on Shopping Value, Commitment, and Product Satisfaction - Focused on Small and Medium Enterprises' product - (판매원의 적응적 판매전략이 쇼핑가치, 관계 결속, 및 제품 만족도에 미치는 영향 - 중소기업 제품을 중심으로 -)

  • Kim, Jae-Hun;Shin, Jong-Kuk
    • Management & Information Systems Review
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    • v.38 no.4
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    • pp.41-60
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    • 2019
  • The purpose of this study is to investigate the effect of salesperson's adaptive selling tactics on consumers who purchase Small and Medium Enterprises' product with the help of salespeople in the store. Specifically, we examine whether salesperson's adaptive selling tactics affect consumers hedonic shopping value and utilitarian shopping value. Furthermore, we try to figure out the effect of shopping value on the salesperson relationship commitment and consumer product satisfaction. The subjects of this study have surveyed the consumers with experience in purchasing SME's products through salespeople in the Gyeongnam area. As data process, SPSS 21.0 was used as the analysis tool and AMOS 21.0 was used to analyze the structural equation model. The implications of these findings are as follows. First, the salesperson's role has a positive effect on the consumer's product satisfaction. Second, it can be suggested that the salesperson's adaptive selling tactics are an important variable affecting the consumer's shopping value. Third, the results on the consumers who have hedonic shopping value have a strong positive influence rather than the consumers who have the utilitarian shopping value. The adaptive selling tactics of the salesperson should be encouraged to increase sales performance. In order to generate more performance in a competitive market environment, it is necessary to continuously strive to increase contact between the salesperson and the consumer in order to improve the quality of the relationship.

A Study on the Critical Failure Factors against B2B e-Marketplace Performance (B2B 중개기업의 성과 저해요인에 관한 연구)

  • Kwon, Suhn-Beom;Byun, Seong-Soo;Bae, Jun-Bum
    • Journal of Information Technology Services
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    • v.4 no.1
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    • pp.1-13
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    • 2005
  • Many buying and selling companies have participated in B2B electronic commerce in order to boost sales and cut down purchase prices respectively. There are some studies on buying and selling companies performances of using B2B e-marketplaces which provide electronic B2B transaction services such as finding transaction partners, providing on-line transaction process like auctioneering, etc. This study investigates the critical failure factors against B2B e-marketplace in other words B2B market-maker or B2B intermediary. We proposed 4 hypotheses asserting that 4 critical failure factors make reverse effects on B2B intermediary performances. We adopt the Balanced Score Card (BSC) framework to evaluate B2B intermediary performance. Data were collected from 46 respondents of B2B intermediaries in Korea. Analyses showed that traditional off-line B2B practices like refunding to buyer or transactions without legal documents and low quality of product information and catalog are critical failure factors against B2B intermediary performance.

Optimal Production Controls in a Two-Stage Production System with a Component Selling Option (부품 판매 옵션을 갖는 두 단계 일렬 생산 시스템에서의 최적 생산 전략)

  • Kim, Eungab
    • Journal of Korean Institute of Industrial Engineers
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    • v.41 no.5
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    • pp.447-452
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    • 2015
  • This paper considers a two-stage make-to-stock production system. The first stage produces a single-component and the second stage produces a make-to-stock product using components. In addition to internal demands, the first stage faces external demands with the option of accepting or rejecting. To ration component inventory, the manufacturer adopts a static rule. This paper analyzes the production controls at both facilities that maximizes the manufacturer's profit. Using the Markov decision process model, we characterize the optimal production policy by two monotonic switching curves.

Determining the Optimum Target Value for Filling Operations with Nondestructive Sampling Plans (비파괴 샘플링 계획을 갖는 Filling 작업에 대한 최적 목표치 결정)

  • Goh, Hyun Woo;Hwang, Eui Cheol
    • Journal of Korean Society of Industrial and Systems Engineering
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    • v.14 no.24
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    • pp.187-192
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    • 1991
  • We consider a filling process problem on a production line. Up to present this problem have examined by 100% inspection. Thus a target value is determined which takes into account the regular selling prices, the reprocess cost, the excess quality cost and the process variability and so on. However, in this paper we propose a solution under specified sampling plan when the inspection is nondestructive.

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Determination of Optimal Mean Value and Screening Limit for a Production Process with Logistic Function (로지스틱 함수를 갖는 생산공정에 대한 최적공정평균 및 스크리닝 한계선의 결정)

  • Hong, Sung Hoon
    • Journal of Korean Institute of Industrial Engineers
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    • v.29 no.3
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    • pp.239-246
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    • 2003
  • Individual items are produced continuously from an industrial process. Each item is checked to determine whether it satisfies a lower screening limit for the quality characteristic which is the weight of an expensive ingredient. If it does, it is sold at a regular price; if it does not, it is reprocessed or sold at a reduced price. The process mean may be adjusted to a higher value in order to reduce the proportion of the nonconforming items. Using a higher process mean, however, may result in a higher production cost. In this paper, the optimal process mean and lower screening limit are determined in situations where the probability that an item functions well is given by a logistic function of the quality characteristic. Profit models are constructed which involve four price/cost components; selling prices, cost from an accepted nonconforming item, and reprocessing and inspection costs. Methods of finding the optimal process mean and lower screening limit are presented and numerical examples are given.