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, Volume:
49, Issue:
2
Journal Article
Peer reviewed
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.
Banks are engaged in their core business of accepting deposits and lending loans, their activities are regulated and restricted by RBI. Bank's core activities are also not so profitable; hence, their ...bottom-line is shrinking. Thus, they have to think of other activities and sources of income. Bancassurance is the buzzword in the current financial service market, where the banks are forming joint ventures with insurance companies, to encash the wide customer database and the everlasting trust. The insurance companies get sufficient business and premiums through the collaboration, enhancing their presence and market share. On the other hand, the banks are earning handsome commission income. Today, banks are having more than 50% other income in their balance sheet, by selling insurance, mutual funds, pension plans and unit-linked products. Bancassurance has gained so much momentum that almost all the banks have joined hands with one or the other life and non-life insurance company. Some banks have even adopted organic growth mode by starting their own insurance business like SBI life. Insurance is a service industry; it is there to serve the changing needs of the customers. Insurance is a matter of solicitation and needs a push strategy by the seller to convince the customers. The bank customers are not fully aware of their insurance cover requirements. To make both ends meet and for the mutual co-existence, bancassurance is the answer, to provide tailor-made and customized products for the mutual benefits of customers, insurer and the bank. It has also created a huge wave of recruitment not only for management professionals but also at every level.
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.
Toward a theory of customer engagement marketing Harmeling, Colleen M.; Moffett, Jordan W.; Arnold, Mark J. ...
Journal of the Academy of Marketing Science,
05/2017, Volume:
45, Issue:
3
Journal Article
Peer reviewed
Customer engagement marketing—defined as a firm’s deliberate effort to motivate, empower, and measure customer contributions to marketing functions—marks a shift in marketing research and business ...practice. After defining and differentiating engagement marketing, the authors present a typology of its two primary forms and offer tenets that link specific strategic elements to customer outcomes and thereby firm performance, theorizing that the effectiveness of engagement marketing arises from the establishment of psychological ownership and self-transformation. The authors provide evidence in support of the derived tenets through case illustrations, as well as a quasi-experimental field test of the central tenet of engagement marketing.
