Managing Effective Consumer Communication Through Customer Care: The Singapore Perspective

This article examines the importance of relationship communication as companies manage their customers by developing and strengthening customer care. The process is likened to that of a courtship where social exchange is determined and validated. The conceptual framework involves looking at marketing relationships through various phases, such as initiating introduction, working at maintenance, securing trust and commitment, as well as adding value to certain intangible aspects. Throughout the discussion, several timely examples are illustrated to show how different companies have advocated relationship management to support organizational growth and publicity.     

Will the frog change into a prince? Predicting future customer profitability

More and more companies have customer databases that enable them to analyze customer profitability over time. These companies often seek to determine the most important customers as indicated by their current or historical profitability and focus attention on them. Focusing on profitable customers can result in more efficient use of marketing resources, but this approach neglects the fact that customers can evolve over time. Some customers begin as low-profit customers but eventually develop into high-profit customers. Others may start out as high-profit customers but become unprofitable over time. Previous efforts to predict future profitability have been relatively unsuccessful, with relatively simple, naïve models often performing just as well as or better than more sophisticated ones. Our paper presents a new approach to predicting customer profitability in future periods that performs significantly better than naïve models. We estimate the models on data from a high-tech company in a business-to-business context and validate the models' predictive ability on a holdout sample.We show that a model based on simulation of customer futures provides large improvements over naïve extrapolation of average profits. By using the simulation model to select customers, ROI from marketing efforts is projected to increase by 58%.     

Managing customer experiences in online product communities

Many companies have established online product communities or forums as a vehicle to extend product support services to their customers. Customers' interactions in such online forums with peer customers and vendor representatives resolve their product-related queries as well as inform on their product purchase decisions. Despite the significance of such interactions, there has been limited theoretical attention so far on how companies can manage customer experiences in online product communities. Drawing on theories and concepts from diverse areas including computer-mediated communication, consumer psychology, and online communities, this study proposes a four dimensional construct - Online Community Experience (OCE) - to capture customer experiences in such online product communities, and examines its impact on customer attitudes regarding the product, the company, and the quality of service. Data collected from customers in online product forums offered by four companies is used to test the study hypotheses. Implications for research on online consumer behavior and marketing are discussed.     

Managing Customer Acquisition Risk Using Co-operative Databases

Acquisition of new customers involves both opportunity and risk, and it is important for firms to predict and manage the risks involved in customer acquisition. Despite its importance, the management of customer acquisition risk has not been the subject of much academic research. This paper develops a framework for firms to manage customer acquisition risk using co-operative databases. We illustrate this framework in the context of the optimal selection of customers for direct mail with a ‘buy now, pay later’ payment option when the acquisition risk manifests as bad debt risk. Using data from a large scale direct marketing campaign, we show that our empirical model that incorporates bad debt risk substantially outperforms suboptimal targeting schemes that overlook bad debt risk. We also demonstrate how alleviating bad debt risk is one beneficial outcome of a fairly recent trend in database marketing, namely the emergence of co-operative databases.     

关于公益营销的策略探讨——以“欧莱雅世博礼仪讲堂”为例

后危机时代,我国经济快速发展,品牌竞争加剧,更多企业借助重大事件开展公益营销,进行公益宣传,增加品牌资产。在营销传播视角多元化和企业社会责任兴起的背景下,研究企业的公益营销具有现实意义。以“欧莱雅世博礼仪讲堂”为例,这一活动有力地把握了市场环境,找到了利益相关者的共同点,使公益活动与品牌主体得到了完美融合,并对公益营销策略做出了有益的启示：注重传播的互动性、适配性和完整性。     

物流企业基于供应链的营销管理创新研究

我国中小型物流企业大多由运输企业、仓储企业演变而来,营销理念、营销模式、营销机制、营销策略、营销手段滞后,做"业务"的多,做"营销"的少;贪大求全的多,市场细分的少;拉业务订单的多,建立战略伙伴关系的少;中小型物流企业很多,营销能力强的企业较少.当今的市场竞争是供应链与供应链的竞争,物流企业要谋求生存与发展,在竞争激烈的市场中做大做强.立于不败之地,必须把握国家振兴和发展物流业的大好机遇,贯彻落实"客户至上、服务为本"的经营理念,整合各种资源,加强基于供应链的营销创新与服务,通过导入营销组合、优化营销组合、创新营销组合.融入供应链、协同供应链、服务供应链,不断提高营销力与核心竞争力.     

Customer Lifetime Value as the Basis of Customer Segmentation

SUMMARY

In this article, we examine current trends in customer life-time value and customer segmentation models and identify key issues for future research. CLV-based segmentation is a segmentation approach that groups customers into meaningful segments based upon customer lifetime value and (potentially) other factors. In the article, we discuss the extent to which CLV-based segmentation meets the criteria for effective segmentation. We also identify six areas for future research: (1) models and management of “micro-segments,” (2) using CLV-based segmentation to improve the efficiency of marketing programs, (3) the need for more dynamic CLV-based segmentation models, (4) applying CLV-based customer segmentation to new products and new customers, (5) challenges associated with implementing CLV-based segmentation, and (6) the need for new models that enable firms to segment customers by response to marketing activities and CLV at different points in the customer decision process.     

The effect of augmented reality versus traditional advertising: a comparison between neurophysiological and self-reported measures

Despite the growing application of augmented reality in advertising, there is limited understanding about how customers respond to their interaction with the augmented reality advertising and how it differs from a standard paper-based advertising. Augmented reality ads are immersive, interactive, and lifelike, which means they may help companies create an emotional connection with their customers. The authors test if customers would respond in terms of emotional and affective intensity differently to augmented reality versus standard paper-based advertising. The results of two laboratory studies that consider physiological measures of arousal (galvanic skin response), self-reported measure of affect intensity and willingness to pay show that the higher willingness to pay for customers exposed to augmented reality as opposed to standard paper-based ads is driven by the physiological arousal, but not by the self-reported affect intensity and that processing fluency possibly underlies consumer’s enhanced emotional responses toward AR. These results suggest that replacing traditional advertisements with augmented reality advertisements enhances customer physiological responses and willingness to pay, with possible implications on customer segmentation and marketing communication.

     

基于渠道细分的营销资源最优化分配方案

多渠道营销是通过两种或多种不同渠道同时向客户提供信息、产品、服务和支持的行为。多营销渠道的细分与构建要考虑三个方面的因素:一是营销渠道细分及布局的合理性;二是营销渠道管理的有效性;三是营销渠道效能评估的科学性。本文主要研究的是营销渠道管理的有效性,即营销资源如何正确、合理、有效地分配至每一个渠道,最大化每个渠道的效益,使公司获得最大利润。本文拟通过建立营销资源最优化分配模型,为企业管理人员在进行多渠道营销资源分配决策时提供科学依据。     

Modelling consumers’ acceptance for the click and collect service

This study investigates possibilities for developing a click and collect service in the context of e-commerce and attempts to identify the consumer characteristics that determine the acceptance of this service. Data of 285 e-commerce consumers were collected through an online questionnaire using banners uploaded in seven online retailers' sites. Binary logit models are developed to analyze the data and relate consumer characteristics to their intention to use and pay for the click and collect service. Perceived environmental contribution of the click and collect service, perceived time pressure, car use in the city center and frequency of online shopping significantly affect consumers’ intention to use the service. The model results provide information that can be used to choose location points and design marketing and pricing policies that will make the click and collect service attractive to customers.     

关系维持对顾客与自助服务技术关系构建倾向的影响

近年来,大数据、互联网、人工智能的应用推动了自助服务技术的快速发展,传统的顾客与服务人员的互动越来越多地转变为顾客与自助服务技术的互动。能否依靠顾客与自助服务技术的关系促进顾客持续使用,已经成为自助服务营销成败的关键。为阐明自助服务关系维持策略对顾客构建关系倾向影响的作用机制,基于社会交换理论和关系营销理论,以旅游网站为研究对象,选取536名在线自助游顾客作为被试进行实证研究。研究发现,旅游网站资源互补性、服务质量、新颖性的相互作用构成关系维持策略,关系投资和关系质量是关系维持策略对顾客构建关系倾向影响的完全中介变量。因此,旅游网站为更好地与顾客构建关系,一要注重关系维持策略在顾客关系管理中的应用,注重资源互补性、服务质量、新颖性等使用价值的增强与完善,这是促使顾客持续使用网站旅游服务资源的核心与关键;二要注重关系维持策略的整体性和系统性,从提供完整服务包的角度出发,对资源互补性、服务质量和新颖性进行运营管理,传统网站新服务项目的开发以及新兴网站旅游资源的建设已经成为目前旅游网站吸引顾客的关键;三要注重关系维持策略的营销,将营销宣传的关注点从形象宣传转向功能宣传,通过加强顾客对关系维持策略中资源互补性、服务质量和新颖性的功能认知,增强顾客对旅游网站关系投资和关系质量的感知,进而提高顾客与旅游网站构建关系的倾向。     

Exploring the influence of three types of grocery retailer loyalty programs on customer affective loyalty

Loyalty programs have become a key tool in retailer marketing strategies. In order to manage client heterogeneity adequately, companies have implemented different types of programs: reward programs (RP), loyalty cards (LC) and VIP programs. This paper explores the effects of these three types of programs and provides a comparative analysis of the influence that these three types of programs have on the affective loyalty towards the retailer of customers participating in them. Results show that VIP programs are the most effective in achieving customer affective loyalty, whilst people taking part in reward programs and loyalty card schemes evidence no differences in their affective loyalty towards the store. It can thus be concluded that clients who are loyalty card holders do not value the intangible rewards (preferential treatment) they receive from the store.     

Social Media Communications and Marketing Strategy: A Taxonomical Review of Potential Explanatory Approaches

The growth of social media has captured the attention of companies, which have responded by increasing their advertising efforts toward social media users. Previous studies have devoted considerable effort to developing social media marketing strategies, but minimal effort has focused on examining the types of messages presented on firms’ social media platforms to communicate with customers. Practitioners face the challenge of identifying which types of social media message content to choose. In addressing this challenge, this article provides a comprehensive framework of social media content strategy, delivery, and impact on the consumers, including a taxonomical approach that helps firms’ understanding of firm-generated content on social media platforms.     

The impact of economic downturns on marketing

The Great Recession of 2008–2010 affected the global and U.S. economies and its companies more universally than any economic downturn since the Great Depression. This study explores how the Great Recession influenced the marketing decisions of firms and the resulting long-term effects on marketing within business-to-business companies. Empirical evidence from previous recessions suggests that companies should focus on their customers and increase their marketing efforts during a recession. However, many companies typically slash their marketing budgets during economic downturns. Authors found that during the Great Recession, companies reacted differently than in previous recessions with their marketing responses. Authors conclude their analysis by proposing that the Great Recession will have three long-term effects on marketing in business-to-business companies.     

Helping You to Waste Less? Consumer Acceptance of Food Marketing Offers Targeted to Food-Related Lifestyle Segments of Consumers

ABSTRACT

Consumer households and consumer behavior have been identified as the major cause of food waste in the supply chain. Food marketing might offer products and services that help consumers to reduce their food waste or reduce the consumer-related food waste at the consumer–retailer interface. However, such strategies require consumer acceptance and targeting the right customers. Through an online survey of 800 Danish consumers and a measure of food-related lifestyle, four clusters of consumer segments are identified. The segments are compared with regard to their acceptance of a number of actions consumers can take to reduce food waste or their acceptance of food marketing services they would need to pay for. Acceptance differs with food involvement and the role of the price criterion, as well as with gender, education and age. The findings show how food marketing can help consumers to reduce food waste, through actions targeted to specific segments of consumers characterized by food-related lifestyle differences.     

Managing Customer Expectations of Restaurants

Based on past research in services marketing the authors develop a conceptual model of the antecedents of customer expectations of restaurants. The model was then empirically tested using the simultaneous equation procedures of LISREL 7. Data was collected and analyzed. Significant findings are discussed in terms of what restaurant managers need to do to properly manage the expectations of their customers to enhance patronage and profitability by ensuring customers are satisfied with the restaurant.     

A Preliminary Study of Fintech Industry: A Two-Stage Clustering Analysis for Customer Segmentation in the B2B Setting

ABSTRACT

This practitioner note proposes a new approach considering two-stage clustering and LRFMP model (Length, Recency, Frequency, Monetary and Periodicity) simultaneously for customer segmentation and behavior analysis and applies it among the Iranian Fintech companies. In this practitioner note, the K-means clustering algorithm and LRFMP model are combined in the customer segmentation process. After initial clustering, for a better understanding of valuable customers, additional clustering is implemented in segments that needed further investigation. This approach contributes to a better interpretation of different customer segments. Customer segments, consisting of 23524 business customers are analysed based on their characteristics and appropriate strategies are recommended accordingly. The first stage clustering result shows that customers are best segmented into four groups. The first and fourth segments are clustered again and the final 11 groups of customers are determined. This note provides a systematic and practical approach for researchers and practitioners for segmentation, interpretation, and targeting of customers especially in the B2B setting and the Fintech industry and helps managers to make effective marketing strategies and enhance customer relationship and marketing intelligence.     

Social media influencers: The formation and effects of affective factors during online interactions

Social media influencers emerged as powerful sources in affecting and guiding consumers' purchase decisions through self-generated content and online interactions with their followers. A large number of studies have so far focused on cognitive aspects such as perceived credibility, trustworthiness, and expertise of these influencers. This study aims to further advance the existing literature on social media influencer marketing from an affective perspective, with a focus on the emotional bonds generated by online interactions between the influencer and their followers. Based on the interpersonal process model of intimacy and theories in celebrity endorsement and social media influencer marketing, it examines the impact of self-disclosure and perceived responsiveness on familiarity and intimacy, which, in turn, affect purchase decision. An online survey was conducted with 304 social media users in Mainland China who have followed social media influencers. The results highlight the formation of two affective factors, namely, familiarity and intimacy, via self-disclosure and perceived responsiveness. Theoretically, this study provides a fresh perspective to better understand the endorser effect outside the regular set of cognitive factors. Marketing practitioners and companies can follow the suggestions of this study to select more effective social media influencers for their marketing campaign, and to build closer relationships with their target customers.     

International marketing research: A global project management perspective

As organizations continue to pursue more global strategies, the need to be able to understand consumers in far away places is increasing. Marketing research is the primary mechanism through which companies understand their current, as well as potential, customers. As companies contemplate the global marketplace, they must consider how domestic market research differs when conducted in international markets. In an effort to help internal client side marketing research managers design and implement improved international research studies, we briefly discuss the context for international market research and provide a framework for conducting international market research projects. Additionally, we present several factors that should be considered by marketers who engage in global market research studies. These factors represent the variety of challenges that must be addressed in order to conduct research across national borders. Particular attention is paid to the nuances related to primary data collection and questionnaire construction.