Temporal Visual Profiling of Market Basket Analysis Arboleda, Francisco Javier Moreno; Ortega, Giovanni Perez; Luna, Jaime Alberto Guzman
IAENG international journal of computer science,
05/2022, Letnik:
49, Številka:
2
Journal Article
Recenzirano
Market basket analysis allows analysts to understand the behaviour of customers. In this paper, we propose a novel technique to generate the profile of a customer with regard to his/her product ...purchase history. After obtaining the profile of a customer, we present a visual technique, to compare in a friendly and interactive way the profiles of customers over time. To show the expediency of our proposal, we performed experiments with a dataset of purchases of a retail market. The results showed that our proposal can be useful for stock planning and identifying customers with similar buying tendencies.
General insurance products provide payments against susceptible damages to tangible assets arising from unforeseen contingencies. The present study explored antecedents of purchase intentions in two ...clusters, measured cluster-wise relationship between purchase intention and actual purchase behaviour, and examined the moderating effect of demographic and socioeconomic variables on the relationship between purchase intention and actual purchase among 259 respondents of 18 GIC operating in the Jammu district of the state of J&K. The results of simple regression revealed that the purchase intention predicted the purchase behaviour by 42.6% and 64.9% in cluster I and II, respectively. Hayes PROCESS Macro recognised qualification, age, premium paid, and nature of product as moderators between purchase intention and actual purchase behaviour in both the clusters. Income did not act as a moderator either in cluster I or II. For respondents of cluster I, it was suggested to simplify terms and conditions of the policies, minimise usage of difficult and technical terms, and strengthen desk staff to provide quick services to customers. For cluster II, the measures suggested include the introduction of innovative products and promotional offers like online discounts, coupons, tax benefits, and so on. Restructuring of claim process and its settlement within the stipulated time frame and awareness among customers through campaigns, social media promotions, road-shows, customer meets, and so on were suggested for all GIC prospects and customers.
ABSTRACT We examine whether customer-base concentration has a differential impact on profitability for firms contracting with major government customers versus firms contracting with major corporate ...customers. We document that firm profitability increases with the concentration of major government customers, but decreases with the concentration of major corporate customers. We attribute the contrasting results to the differential impact of major government and corporate customers on demand uncertainty. Specifically, firms contracting with major government customers face lower demand uncertainty that enables them to realize more efficiency gains from customer-specific investments, whereas firms contracting with major corporate customers are exposed to higher demand uncertainty that reduces the efficiency of customer-specific investments. Overall, our study suggests that major government customers are unique and important in the composition of customer base, and they impact firm outcomes in a significantly different way than major corporate customers. JEL Classifications: M41; L25; G14; H57.
This article uses the customer portfolio management (CPM) approach to examine how a company can define the value of customers and segment these customers into portfolios. By segmenting customers into ...portfolios, an organization can better understand the relative importance of each customer to the company's total profit. Such an understanding will help companies retain valuable customers create additional value with these customers through relationship development.
The purpose of this article is to contribute to the body of customer relationship management (CRM) literature by introducing a conceptual framework of the customer portfolio management (CPM) matrix, which focuses on two issues: (1) cost to serve and (2) value of the customer to the company. From this framework, a firm can segment its customer base into four portfolios, platinum, gold, silver, and bronze, and deliver services accordingly.
•This study introduces a conceptual framework of Customer Portfolio Management (CPM) matrix.•CPM focuses on two issues: (1) cost to serve and, (2) value of the customer to the company.•Using this framework, a firm can segment its customer base into four portfolios, platinum, gold, silver, and bronze.•And then a firm can apply different strategies on these portfolios accordingly.
This study examines how customers' perceptions of corporate social responsibility (CSR) affect their customer citizenship behaviour and the mediated link through customer‐company identification and ...affective commitment. Working with a sample of 615 banking service customers in South Korea, structural equation modelling is employed to test the research hypotheses. The results of this study suggest that customers' perceptions of CSR are positively related to their customer citizenship behaviour. Second, customer‐company identification was found to mediate the positive relationship between customers' perceptions of CSR and customer citizenship behaviour. Third, customers' affective commitment towards their organization also mediated the positive relationship between customers' perceptions of CSR and customer citizenship behaviour. Finally, the relationship between customers' perceptions of CSR and customer citizenship behaviour is sequentially and partially mediated by customer‐company identification and affective commitment. The theoretical and managerial implications of the results and the limitations of the study are discussed, and future research directions are suggested.
This reported work considers a discrete-time multiserver queue in which the customers wait for the service for a limited time with a general distribution and leave the system if the service has not ...begun within that time. The customers arrive according to a Bernoulli process and the service times are geometrically distributed. The paper presents the exact expressions for the loss probability and the queue length distribution.
•This study investigates the impact of service quality on customers' satisfaction during COVID-19.•The use of text mining to discover satisfaction dimensions.•A new method for online customers’ ...reviews analysis is proposed.•New findings are presented on the impact of service quality on customers' satisfaction during COVID-19.•Evaluation of method through the data in TripAdvisor.
The COVID-19 pandemic has caused major global changes both in the areas of healthcare and economics. This pandemic has led, mainly due to conditions related to confinement, to major changes in consumer habits and behaviors. Although there have been several studies on the analysis of customers’ satisfaction through survey-based and online customers’ reviews, the impact of COVID-19 on customers' satisfaction has not been investigated so far. It is important to investigate dimensions of satisfaction from the online customers’ reviews to reveal their preferences on the hotels' services during the COVID-19 outbreak. This study aims to reveal the travelers’ satisfaction in Malaysian hotels during the COVID-19 outbreak through online customers’ reviews. In addition, this study investigates whether service quality during COVID-19 has an impact on hotel performance criteria and consequently customers' satisfaction. Accordingly, we develop a new method through machine learning approaches. The method is developed using text mining, clustering, and prediction learning techniques. We use Latent Dirichlet Allocation (LDA) for big data analysis to identify the voice-of-the-customer, Expectation-Maximization (EM) for clustering, and ANFIS for satisfaction level prediction. In addition, we use Higher-Order Singular Value Decomposition (HOSVD) for missing value imputation. The data was collected from TripAdvisor regarding the travelers’ concerns in the form of online reviews on the COVID-19 outbreak and numerical ratings on hotel services from different perspectives. The results from the analysis of online customers’ reviews revealed that service quality during COVID-19 has an impact on hotel performance criteria and consequently customers' satisfaction. In addition, the results showed that although the customers are always seeking hotels with better performance, they are also concerned with the quality of related services in the COVID-19 outbreak.
The concept of customer centricity is frequently debated by sales and marketing researchers and practitioners. However, to date no validated scale exists that measures to what extent customers ...perceive companies as customer centric. Against this backdrop, drawing on prior literature, qualitative interviews, and a customer survey (N = 246), the authors develop and validate a measurement scale for perceived customer centricity. In addition, using matched survey and financial data from industrial customers (N = 1,089), the authors examine antecedents and consequences of perceived customer centricity. Results show that customers perceive firms as customer centric if the supplier is customer oriented on both the overall firm level and the salesperson level. Furthermore, perceived customer centricity is strongly linked to customers' loyalty intentions and objective sales revenue, particularly if customers perceive a firm to exhibit high prices. Thus, this article equips managers with a validated and easy-to-use measurement that allows monitoring a firm's progress toward customer centricity.
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