The value of idiosyncratic functional forms in conjoint analysis

We compare the part-worth model against alternative specifications with linear and nonlinear functions for continuous attributes. We use four criteria: expected error variance of the model, expected mean squared error for average preference predictions, expected mean squared error for individual preference predictions, and a measure of the quality of parameter estimates. Although the part-worth model is generally superior to the alternatives, the expected validity of conjoint results can be improved with idiosyncratic functional forms. Continuous functions also offer an opportunity to the analyst to impose constraints on the parameter estimates.     

基于促销投资的非对称信息供应链契约研究

利用了委托代理理论和最优控制理论,分析对称信息和不对称信息两种情况下制造商和零售商的供应链契约。零售商进行促销投资,在对称信息情况下,制造商以批发价作为线性契约来协调供应链系统,批发价是促销投资的减函数;在非对称信息情况下,制造商以批发价和补贴作为非线性契约的协调机制,而批发价和补贴都是促销投资的增函数。     

The Influence of Culture on Trust Judgments in Customer Relationship Development by Ethnic Minority Small Businesses

This paper explores the influence of culture on trust judgments in customer relationship development by ethnic minority small businesses (EMSBs). Chao and Moon's “cultural mosaic” of overlapping “cultural tiles” is used to develop a generic conceptual model regarding the relationships between multiple cultural identities, trust, and customer relationship development. Drawing on qualitative data from semistructured interviews with 134 Turkish EMSBs in London (United Kingdom), our findings contribute to the understanding of how different cultural tiles influence the dimensions of trust judgments in relationship development between EMSBs and different customer groups. Seven propositions and a theoretical framework regarding these relationships are offered for future research.     

A re-examination of the antecedents and impact of customer participation in service

Customer participation has been argued to be a critical influence on customer satisfaction with the service received, but empirical studies are relatively lacking. This study proposes a theoretical model of the antecedents and impact of customer participation in service and re-examines the relationships among organizational support, socialization, customer participation, and customer satisfaction. Findings of a questionnaire completed by tourists of a Taiwanese theme park indicated that: (1) customer perceptions of support and socialization significantly and positively influence customer participation; (2) perceived support and socialization have a significant and positive influence on customer satisfaction; (3) the directly positive relationship between customer participation and satisfaction is not supported in this study.     

Functional forms of the satisfaction–loyalty relationship

The linear functional form of the effect of customer satisfaction on repurchase intentions may not be adequate under all circumstances; however, we lack a clear understanding of the factors that may drive variation in the functional forms of the satisfaction-loyalty relationship. Building on existing research, the authors consider how the functional form of the effect of satisfaction on repurchase intentions varies across segments formed at the intersection of product categories and customer economic and demographic variables. A comprehensive data set obtained from the sponsors of the Chinese Customer Satisfaction Index provides the input for a flexible cubic regression configuration to model the functional forms. The linear functional form emerges as the most prominent across 972 product-customer segments (51%), followed in frequency by the S-shaped and convex forms and, finally, the inverse S-shape and concave forms. Different product category characteristics, customer economic and demographic variables, and market characteristics moderate the effect of satisfaction on repurchase intentions differently for the linear, quadratic, and cubic terms. This research reveals key resource allocation implications based on the functional forms of the effect of satisfaction on repurchase intentions, as well as strategic segmentation implications related to the varying influence of product category characteristics, customer economic and demographic variables, and market characteristics.     

Customer Satisfaction,Service Quality and Perceived Value: An Integrative Model

The present study examines the relationships among customer satisfaction, service quality and perceived value. These variables are increasingly recognised as being sources of competitive advantage. However, little empirical research has been conducted to examine these variables simultaneously and their relationships with post-purchase behaviour. The present study was therefore designed to develop an understanding of the relationships among these variables and their influence on postpurchase behaviour. An integrative model was developed and tested using data collected from customers in the restaurant industry. The results reveal that customer satisfaction and perceived value significantly influence post-purchase behaviour. Implications of the findings and areas for future research are discussed.     

Using word of mouth data from social media to identify asymmetric competition in food retailing

Competition between food retailers is often assumed to be asymmetrical, whereby one retailer may compete with another retailer but not vice versa. Little is known about how (a)symmetric competition among retailers currently is. One way to investigate this is to use word of mouth data. A mixed methods analysis of customer comments on social media confirms the existence of asymmetric competition among German food retailers, mainly between supermarkets and discounters. Overall, consumers compare competitors frequently on the basis of their assortments, the price-performance ratio as well as quality and freshness. The results have implications for competition policy and strategic management.     

Brand equity in hospital marketing

Health care marketers face unique challenges around the world, due in part to the role the health care field plays in contributing to public welfare. Hospital marketing in Korea is particularly challenging since Korean law prohibits hospitals from running any advertising. As a result, Korean hospitals depend heavily on customer relationship management (CRM). This study identifies five factors that influence the creation of brand equity through successful customer relationships: trust, customer satisfaction, relationship commitment, brand loyalty, and brand awareness. An empirical test of the relationships among these factors suggests that hospitals can be successful in creating image and positive brand equity if they can manage their customer relationships well.     

Mutual commitment and experiential knowledge in mature international business relationship

This paper examines how market knowledge and market commitment are developed in mature supplier/customer relationships in international markets. It reports the empirical testing of a model of increasing commitment and experiential knowledge development in international business relationships. The assumption is that the connected relationships in a business network are the basis for forming a relationship and it will influence how the focal relationship develops. The model shows the process when a supplier increases his or her knowledge of the business network that a foreign customer is embedded in and what happens as their relationship with the customer becomes mature, stable and profitable. In this situation the firm does not invest as much as it did early on in the relationship but diverts its attention to firms that are more embedded in the local business network context. The model thus explicates a process of transition as a firm moves from one mature relationship to create new relationships as it increases its foreign market involvement.     

Multiple reference effects in service evaluations: Roles of alternative attractiveness and self-image congruity

Customer satisfaction and service evaluation research has examined the reference effect but largely adopted an expectancy-disconfirmation paradigm that focuses on referents centered on the product or service in question. This study examines two additional reference effects, alternative attractiveness and self-image congruity, and their interaction. The framework of multiple reference effects in service evaluations integrates insights from regret theory, the investment model of interpersonal relationships, and self-image congruity theory. An empirical study of a hairstyling service confirms that comparisons involving other-object and self-based reference points contribute significantly to consumer service evaluations. Self-image congruity has the most significant impact on both customer satisfaction and commitment judgments. In general, the negative effect of alternative attractiveness on both customer satisfaction and commitment becomes weaker as the level of self-image congruity increases; as long as consumers find a good fit between their self-image and the service image, they are less likely to consider alternative services. However, for consumers with high self-image congruity with the focal service, the presence of an attractive alternative may induce them to exhibit an enhancement bias or “play up” effect (i.e., report higher satisfaction with the focal service).     

Predictors, consequence, and measurement of ethical judgments: Review and meta-analysis

As a central construct in theories of ethical decision making, ethical judgments have been the subject of more than one hundred empirical studies. Despite its size, the ethical judgments literature seems to lack clarity in three areas. First, empirical results are sometimes inconsistent or contradictory across studies. Second, a broad array of diverse measures of ethical judgments raises concerns about research validity. Third, differences in sample composition may affect comparability of study results. To help resolve these issues, this study conducts a review and meta-analysis of the ethical judgments literature. The results offer insights in all three areas. They help resolve some of the inconsistencies in the relationships between ethical judgments and certain theoretical antecedents; they support the use of diverse measures of ethical judgments; and they offer caution in the use of student samples in ethical judgments research.     

Corporate environmental market responsiveness: A model of individual and organizational drivers

This study examines the psychological and organizational drivers of corporate environmental market responsiveness (CEMR). Drawing on the relevant literature, the study identifies several variables of potential importance in CEMR and builds on the theory of planned behavior to propose a model of hypothesized relationships among these variables. The study tests hypotheses in an empirical study using a large sample of environmental managers from eleven members of the European Environmental Agency. The research findings show that the environmental behaviors of managers are largely determined by social judgments and perceptions. The present study has implications for managers who wish to pursue an environmental market-oriented approach to business. These results also have important implications for organizational theory and the debates about whether economic or social factors determine the effects of environmental issues on competitive advantage.     

Loyalty or lethargy? Keeping sellers committed,not entrenched

While business sellers frequently enjoy long-term relationships with their buyers, not every extended association is based on a genuine sense of customer loyalty. Many organizations remain in relationships with providers for too long; while the seller has stopped providing value, the buyer sticks to the routine. Building from empirical research and theory on buyer-seller relationships, this research extends our understanding of customer complacency and seller entrenchment and introduces the concept of customer lethargy. Synthesizing theory from multiple domains with exploratory interviews conducted with business customers, this article offers insight into the functioning of organizational buying centers, the evolution of business exchanges over time, and how some exchanges can be undermined by various forms of relational dysfunction. I define customer lethargy, explore its root causes and offer business buyers a strategy which aims to help them self-audit their loyalty, avoid complacency and lethargy, and keep sellers committed, not entrenched.     

The Impact of Relational Variables on Value Creation in Buyer–Seller Business Relationships

Purpose: This research was aimed at attaining a deeper knowledge of how customer value creation can be improved in business markets. Although trust and commitment (as relational governance mechanisms) appear to have a positive effect on customer value creation, limited empirical evidence exists about the combined effect of the aforementioned variables on improving customer value creation. This article studies why trust and commitment are key precursors to improving customer value creation in commercial relationships among companies.

Methodology: Following a review of the literature, we introduce and contrast a conceptual model on a sample of 181 manufacturing companies located in Spain by means of a structural equation system.

Originality: The study of these causal relationships is relevant because it provides greater knowledge of the role played by the key relational variables of trust and commitment on improving customer value creation in business markets. These variables also have an important influence on the development and maintenance of a relationship in the long term and have been the focus of recent marketing research.

Findings: The empirical results reveal that: (1) distributor commitment is a direct and positive antecedent of value creation in a relationship, understood from a functionalist perspective; (2) distributor trust, the other relational variable, has an indirect effect on value creation through the distributor's commitment; and (3) this research does not tie in with previous studies that found that direct value-creating functions have a multiple-component nature representing a second-order factor.     

The Lifetime Value Concept in Customer-Based Marketing

The objective of this paper is to gain insight into the use of the Lifetime Value (LTV) concept when focusing on relationships with customers.This requires a discussion of both the status quo of LTV and customer-based marketing. As a result of these discussions we conclude that proper use of LTV to support building and maintaining relationships with customers requires a further refinement of the LTV concept. We identify five aspects where current use of LTV is inappropriate for customer-based marketing. Furthermore, we define a model for computing LTV which meets the requirements stipulated by relational strategies. Based on literature study and empirical research we explore the consequences of the improved LTV model for marketing management decisions. We also describe the interaction data that should be available in the customer database.     

Effective Public Relations. Cutlip,Scott M., and Allen H. Center. 5th Edition. Englewood Cliffs,New Jersey: Prentice-Hall, 1978

Abstract

ADSPLIT is a computer-based, interactive, marketing model which optimally allocates a specified corporate promotional budget among individual brands competing for limited resources. The model requires either (a) regression-based response function coefficients based on historical data, or (b) judgments on what sales should be for different values of price and advertising expenditure for the brands, which the program then uses to estimate the function parameters. The advertising-sales response function is modeled through a flexible form that allows both concave and S-shaped relationships, while sales are related to price through a constant elasticity (Cobb-Douglas) function. The model uses the estimated or input functions to compute the optimal budget allocation for the brands, given an upper bound for the total promotional expenditures and upper- and lower-budget bounds for every brand, using nonlinear optimization heuristics. Optimal prices for the brands are also computed.     

Taste and nutrition: the uses and effectiveness of different advertising claims in women's magazine food advertisements

A multi-method study was conducted to examine different advertising claims in current food advertising and to determine the effectiveness of different advertising claims on females’ evaluative judgments of food advertisements. Content analysis results of 678 women's magazine food ads indicated functional food ads appeared to adopt nutrition appeals without taste claims and a combined use of nutrition appeals and taste claims, whereas hedonic food ads tended to use taste claims without nutrition appeals. Nevertheless, these food advertising practices were called into question by the results of two experiments, showing the combined use of nutrition appeals and taste claims was the most effective strategy for both hedonic and functional foods. However, for hedonic foods, advertisers need to include more congruent than extremely incongruent claims. Implications for food advertisers and policy-makers were discussed.     

Defining the knowledge that an organisation requires to create customer capital from a customer perspective

Consumer capital is a very important asset for an organisation as it is the result of an organisation's relationship with its customers. This paper sets out to confirm that organisations need to create customer capital in SMEs (Small Medium Enterprises). As part of this study, four types of knowledge have been identified (i.e. customer knowledge, individual knowledge, collective knowledge, and machine-readable forms) and this paper investigates the relationships between the different components of knowledge and the process to obtain customer capital from the external perspective of the company. This involved an empirical study of 365 customers. Two structural equation models have been used, resulting in the conclusion that before obtaining customer capital it is necessary to convert individual knowledge, collective knowledge (C_LK), and machine-readable forms into customer knowledge.     

Relationships and impacts of service quality,perceived value,customer satisfaction,and image: an empirical study

In today's world of intense competition, satisfying customers is only the base line and may not be sufficient for survival. Management should focus on gaining customer loyalty by enhancing customer perceptions of service quality and increasing as perceived by the consumer value. Although previous studies have addressed the importance of service quality, satisfaction, perceived value, and image, the precise nature of the relationships that exist between these constructs and the understanding of their effect on customer behaviour still remains a key issue. This empirical study seeks to understand the relationships that exist between service quality and perceived value and how they impact customer satisfaction, corporate image, and behavioural intentions. The proposed model indicates that delivering high quality service and creating superior customer value can result in achieve high customer satisfaction, thus effecting the firm's corporate image, and ultimately leading to consumer retention.     

CONDITIONAL DEMAND FUNCTIONS,SEPARABILITY, AND THE LENGTH OF RUN: SOME NOTES FOR THE APPLIED RESEARCHER OF HOUSEHOLD BEHAVIOUR1

This paper introduces the concepts of conditional demand functions, the length of run, and separability to consumer and family economists as useful tools for empirical research on household behaviour. The relationships among demand, expenditure, and consumption functions are sketched. Then conditional demand functions are explained, their uses in empirical work addressed, and several applications discussed. The concepts of the length of run and of separability are explained in terms of conditional demand and their implications for and applications to empirical research on household behaviour treated.