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Analysis and estimation of customer survival Time in subscription-based businessesMohammed, Zakariya Mohammed Salih January 2008 (has links)
Philosophiae Doctor - PhD / Subscription-based industries have seen a massive expansion in recent decades. In this type of industry the customer has to subscribe to be able to enjoy the service; there-fore, well-de ned start and end points of the customer relationship with the service provider are known. The length of this relationship, that is the time from subscription to service cancellation, is de ned as customer survival time. Unlike transaction-based businesses, where the emphasis is on the quality of a product and customer acquisition, subscription-based businesses focus on the customer and customer retention. A customer focus requires a new approach: managing according to customer equity (the value of a rm's customers) rather than brand equity (the value of a rm's brands). The concept of customer equity is attractive and straightforward, but the implementation and management of the customer equity approach do present some challenges. Amongst these challenges is that customer asset metric - customer lifetime value (the present value of all future pro ts generated from a customer) - depends upon assumptions about the expected survival time of the customer (Bell et al., 2002; Gupta and
Lehmann, 2003). In addition, managing and valuing customers as an asset require extensive data and complex modelling. The aim of this study is to illustrate, adapt and develop methods of survival analysis in analysing and estimating customer survival time in subscription-based businesses. Two particular objectives are studied. The fi rst objective is to rede ne the existing survival analysis techniques in business terms and to discuss their uses in order to understand various issues related to the customer-fi rm relationship. The lesson to be learnt here is the ability of survival analysis techniques
to extract important information on customers with regard to their loyalties, risk of cancellation of the service, and lifetime value. The ultimate outcome of this process of studying customer survival time will be to understand the dynamics and behaviour of customers with respect to their risk of cancellation, survival probability and lifetime value. The results of the estimates of customer mean survival time obtained from different nonparametric and parametric approaches; namely, the Kaplan-Meier method as well as exponential, Weibull and gamma regression models were found to vary greatly showing the importance of the assumption imposed on the distribution of the survival time. The second objective is to extrapolate the customer survival curve beyond the empirical distribution. The practical motivation for extrapolating the survival curve beyond the empirical distribution originates from two issues; that of calculating survival probabilities (retention rate) beyond the empirical data and of calculating the
conditional survival probability and conditional mean survival time at a speci c point in time and for a speci c time window in the future. The survival probabilties are the main components needed to calculate customer lifetime value and thereafter customer equity. In this regard, we propose a survivor function that can be used to extrapolate the survival probabilities beyond the last observed failure time; the estimation of parameters of the newly proposed extrapolation function is based completely on the Kaplan-Meier estimate of the survival probabilities. The proposed function has shown
a good mathematical accuracy. Furthermore, the standard error of the estimate of the extrapolation survival function has been derived. The function is ready to be used by business managers where the objective is to enhance customer retention and to emphasise a customer-centric approach. The extrapolation function can be applied and used beyond the customer survival time data to cover clinical trial applications. In general the survival analysis techniques were found to be valuable in understanding and managing a customer- rm relationship; yet, much still needs to be done in this
area of research to make these techniques that are traditionally used in medical studies more useful and applicable in business settings. / South Africa
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Výzkum spokojenosti zákazníků společnosti Quierro, s.r.o. / Research of Customers Satisfaction in Quierro, LtdPatka, Roman January 2015 (has links)
The thesis focuses on customer satisfaction. The objective of the theoretical part is description of basic terminology and key areas related to customer satisfaction. The term customer is defined in detail including his importance for the company, and especially importance of customer satisfaction . The thesis describes methods used for measuring customer satisfaction, analysis of the satisfaction and also analysis of lost customers. There is short description of the company where the customer satisfaction was measured. The research was designed as mixed. The quantitative research is based on satisfaction survey with 179 respondents. This research is then followed by qualitative analysis based on comments caprured in service Heureka. There are recommendations provided based on the results of the research in order to improvement of the customer satisfaction. The recommendations include change od services and also change of the customer satisfaction survey.
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Metódy výpočtu Customer Lifetime Value a ich aplikácia v oblasti kozmetiky / Calculation methods for the Customer Lifetime Value and its application in the cosmetics industryBaraniaková, Júlia January 2013 (has links)
The main goal of the diploma thesis is the description and comparison of existing methods for calculating the customer lifetime value at a firm. Second, minor goal is based on the comparison to choose a suitable method of calculation for an application in a real business unit. The used methodology contains detailed research of available foreign academic literature. Building on that a comparison of the methods based on selected criteria is conducted. Results of a questionnaire survey are used in the last chapter to provide specific sugestions for the possible marketing applications of CLV approach and calculation in a specific business unit.
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Evaluating the service quality within the aftermarket components industry in South AfricaVan Coller, Riana 12 September 2012 (has links)
M.Comm. / Previously the engine components industry relied on being in the game by competing on product availability, product quality and pricing. The cost of not having customer driven strategic plans created certain drawbacks. These include: the use of crisis management (companies being reactive rather than proactive), diverse directions being taken and redundancy, loss of competitive edge and openness to outside influences. Local component manufacturers have to reduce their dependence on OEM manufacturing alone. This means that they will have to move into the after market, locally and overseas, and export more to foreign OEMs and component producers. Those who do not make the transition will have to diversify or close their doors. The result is that South African engine component companies do not only have to adapt to the reality of pricing pressure of intense competition, but also have to adapt to the increased service expectations of customers on all levels. Service quality can be defined as the extent of discrepancy between customers' expectations and their perceptions (Zeithaml, et al, 1990: 19). The question arises whether engine component companies in the current climate are basing their competitive advantage on a customer-orientated culture with an inner driving force. Service quality is an abstract and elusive concept, because it is intangible, heterogeneous and inseparable from production and consumption. In the process of growing towards customer retention and moving away from the initial concept of just providing customer satisfaction through product availability, product quality, basic service and pricing, superior service quality must be obtained. The measurement of perceived service quality within the engine component industry has not received much attention up till now. This dissertation addresses the problem of measuring the current quality of service (in the engine component industry), and provides guidelines on closing existing gaps. The objectives of the study can be summarised as follows: To assess the service expectations of engine component suppliers' customers. To assess customer perceptions of the performance of the engine component suppliers. To assess which customer - orientated strategies are perceived to be employed by engine component suppliers. To assess how engine component suppliers can narrow or eliminate the customerprovider gaps that exist.
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Investigating client relationship needs and wants within the banking industry in South AfricaEksteen, Jacques 30 November 2011 (has links)
M.Comm.
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The study of customer share marketingSethapan, Wathanee 01 January 2004 (has links)
This project will describe the nature of customer share marketing, its advantages and disadvantages. The project discusses how the marketing theme is graduating customers from market share marketing to customer share marketing and the use of customer share marketing to retain and grow existing customers.
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The power of in-store technology : A qualitative study about how in-store technology creates value for Swedish retail companies and their customers.Andersson, Joakim, Runesson, Linus, Svensson, Casper January 2020 (has links)
With an ongoing development in technology, retailers faces new challenges in terms of higher customer expectations. To meet these expectations, retail companies can use in-store technology to enhance the shopping experience and to create more value. This study aims to provide an understanding of in-store technology and how retailers can work with these tools in order to create customer value and improve the customer experience. The purpose of this study will be to investigate the Swedish market and see how Swedish retail companies work with in-store technology. In this context, the following research questions were formed: (1) How do retail managers use in-store technology to create value for the customers? and (2) How do in-store technology affect frontline employees within retail? In order to answer these questions, a qualitative method was used, where five different retail companies were interviewed, which all have implemented in-store technology. Before the empirical gathering, we chose to keep the companies and the respondents anonymous in order for us to reduce the risk for complications later on in the thesis. This study aims to provide theory and to get an understanding of in-store technology and how companies can use it to develop their business. A conceptual framework was made to clarify which concepts that was used in order to answer these questions. These concepts were in-store technology, customer value creation, convenience, frontline employees, customer engagement and improved customer experience. The empirical findings generated theory in which the authors developed two models: (1) The value dynamics, which describe how in-store technology and the interplay between managers, frontline employees, and customers generate value to each other. (2) A three step model where the authors have several suggestions of what retail companies should think of when they implement new technology. The results of this study conclude how retail companies can use in-store technology in order to create customer value to improve the customer experience. In-store technology has created more value for the customer in terms of a more convenient shopping experience, and in-store technology provides the customer with more information which makes the shopping experience more independent as well. In-store technology has also contributed, in some extent, to a better working environment for frontline employees.
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Determining customer satisfaction: a case study of a tourism establishment in the Vaal regionCilliers, Charmaine Danielle January 2018 (has links)
M.Tech (Department of Tourism Management, Faculty of Human Sciences), Vaal University of Technology. / Tourism is an extremely important sector in any economy of a country and is a package of combined services and goods. There are a variety of types of tourism, and tourism also has a variety of sectors and characteristics. Customer satisfaction is very important within any organisation, because it provides a variety of benefits. The Kano model and many theories assist in understanding customer satisfaction and the factors that better influence the satisfaction of the customers. To accurately measure the satisfaction of customers, there are a variety of guidelines to follow to develop a well-developed questionnaire.
The main goal of this study was to determine customer satisfaction and the factors that contribute to customer satisfaction, based on a case study at a tourism establishment (accommodation establishment) in the Vaal Region. The objectives were to conduct a literature review to identify the factors that affect customer satisfaction at an accommodation establishment and develop a measuring instrument to determine customer satisfaction at an accommodation establishment. Furthermore, an empirical analysis was conducted to measure the level of performance of the identified factors at an accommodation establishment in the Vaal Region. Additionally, to determine the factors that contribute to the satisfaction of the customers at a specific accommodation establishment in the Vaal Region. Thereafter, determine the difference between the factors that are regarded as important contributors to customer satisfaction and the factors with which customers are satisfied with at an accommodation establishment. Moreover, determine the difference between customer satisfaction factors across trip-related and demographic variables at an accommodation establishment. Finally, recommendations were made regarding the empirical results and for future research.
The research followed a case study approach using quantitative, exploratory and descriptive research to administer and test the questionnaire, and to evaluate the satisfaction of the customers. Furthermore, the study used a non-probability method, convenience sampling. The sample size of the study was 132 customers at the accommodation establishment and a questionnaire was used to measure the satisfaction of the customers. The results indicated that the majority of the respondents were totally satisfied with certain aspects at the accommodation establishment. In total 11 factors were identified that contribute to customer satisfaction, and a total of 10 factors were identified that influence the satisfaction level of the customers. There was a statistical significant correlation between the factors with which customers are satisfied with, the factors that the customers regard as important, other trip-related and demographic variables. It can be seen that the accommodation establishment must take into account the factors which influence customer satisfaction to obtain higher customer satisfaction by.
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The Effects of Online and Offline Customer Experiences on Customer Loyalty in Chinese Fresh E-commerceYe, Zhiqiu, Chen, Xinyi January 2020 (has links)
With the gradual upgrade of fresh food consumption in China, the integration of online platforms and retail entities has brought more convenient and diverse fresh food consumption experiences to customers. This thesis is to explore how the customers loyalty in Chinese fresh e-commerce are affected by online and offline customer experience. This paper draws on strategic experience modules and situation experience theory and proposes three influencing factors respectively according to the two situations of online and offline. Specifically, this thesis analyzes the impact of the aesthetic experience, online service experience, and virtual community sense experience, environmental experience, service staff experience and community sense experience on customer loyalty. As a leader of fresh e-commerce, Hema Fresh has achieved great success especially during this epidemic and has been recognized by Chinese customers. This study collects 298 online questionnaires from Hema Fresh’s customers in China and uses SPSS for regression analysis to test these six factors. Empirical results show that enhancing customer aesthetic experience, online service experience, environmental experience and community sense experience can improve customer loyalty of fresh e-commerce in China, but our results do not show that virtual community sense experience and service staff experience can enhance customer loyalty. Meanwhile, this study finds that the effects of online and offline situations on customer loyalty of fresh e-commerce are different. By providing the experience and background of Chinese fresh e-commerce, it enriches the research on fresh e-commerce. Also, this study explores different types of customer experience impact on customer loyalty from the online and offline situations of customer consumption, contributing to the research on customer experience and provides implications for Chinese fresh e- commerce to improve customer loyalty.
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Marketing Strategies Used by Franchise Small Businesses to Retain CustomersArline, Hilda Jordan 01 January 2016 (has links)
Franchised small businesses will not survive their first 5 years if they cannot implement marketing strategies that appeal to their customers. The purpose of this multiple case study was to explore the marketing strategies that successful franchise small business leaders used to retain customers. The population comprised 4 business leaders at franchise small businesses in North Carolina. Competitive advantage theory and blue ocean theory grounded this study. Data were collected using semistructured face-to-face interviews and review of company marketing materials. Data were thematically analyzed, and 6 themes emerged: personalization of customer service, market segmentation, innovative advertising, networking, brand identity, and loyalty programs. Market segmentation and innovative advertising are fundamental strategies for retaining customers within the target market, whereas personalization of customer service can help build positive relationships with customers. These findings could improve customer loyalty and customer satisfaction, which might increase the number of successful small businesses in the United States. The implications for positive social change include the potential for business leaders to develop effective marketing strategies to retain customers, which may benefit customers through an increase in job opportunities in the local business community.
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