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Author: Bessie D. Hiett
Publisher:
ISBN:
Category : Retail trade
Languages : en
Pages : 154
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Book Description
Author: Bessie D. Hiett
Publisher:
ISBN:
Category : Retail trade
Languages : en
Pages : 154
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Book Description
Author: Ada Lillian Bush
Publisher:
ISBN:
Category : Clothing trade
Languages : en
Pages : 372
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Book Description
Author: Robert W. Palmatier
Publisher: Springer
ISBN: 3319619853
Category : Business & Economics
Languages : en
Pages : 332
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Book Description
This book provides a synthesis of research perspectives on customer engagement through a collection of chapters from thought leaders. It identifies cutting-edge metrics for capturing and measuring customer engagement and highlights best practices in implementing customer engagement marketing strategies. Responding to the rapidly changing business landscape where consumers are more connected, accessible, and informed than ever before, many firms are investing in customer engagement marketing. The book will appeal to academics, practitioners, consultants, and managers looking to improve customer engagement.
Author: Peter S.H. Leeflang
Publisher: Springer Science & Business Media
ISBN: 146154050X
Category : Business & Economics
Languages : en
Pages : 642
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Book Description
This book is about marketing models and the process of model building. Our primary focus is on models that can be used by managers to support marketing decisions. It has long been known that simple models usually outperform judgments in predicting outcomes in a wide variety of contexts. For example, models of judgments tend to provide better forecasts of the outcomes than the judgments themselves (because the model eliminates the noise in judgments). And since judgments never fully reflect the complexities of the many forces that influence outcomes, it is easy to see why models of actual outcomes should be very attractive to (marketing) decision makers. Thus, appropriately constructed models can provide insights about structural relations between marketing variables. Since models explicate the relations, both the process of model building and the model that ultimately results can improve the quality of marketing decisions. Managers often use rules of thumb for decisions. For example, a brand manager will have defined a specific set of alternative brands as the competitive set within a product category. Usually this set is based on perceived similarities in brand characteristics, advertising messages, etc. If a new marketing initiative occurs for one of the other brands, the brand manager will have a strong inclination to react. The reaction is partly based on the manager's desire to maintain some competitive parity in the mar keting variables.
Author: Maohua Chen
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Cross-border e-commerce shopping is becoming quite common, and people are gradually accepting the trend of shifting from offline to online shopping. Most cross-border e-commerce firms have abandoned the previous profit-centrist value chain in favor of a more customercentrist orientation. Many e-commerce firms are actively establishing lenient return policies to improve their consumers' shopping experiences and match their expectations. The development of return policies helps in the expansion of online shopping while ensuring consumers' legitimate rights. Unlike traditional shopping methods, online transactions are characterized by asymmetric information between two parties. It is usual for consumers to be suspicious of unknown online shopping sites. Returns for online purchases can occur for various reasons, including quality issues. For example, even if the product's quality is acceptable, returns could happen if the consumer's perception of the product's value after purchase differs from the evaluation of the product before purchase. Retailers hope that lenient return policies will reduce consumer complaints while showing confidence in their products. Consumers often perceive a lenient returns policy as a signal. Consumers will predict the goods based on the signaling that the higher the quality of the product, the less likely it is to be returned. Retailers can thus encourage return behaviour even if they know their customers are happy with their products and do not wish to return them. On the other hand, consumers perceive a strict return policy as a signal of high risk and lack of credibility. From the retailer's perspective, a lenient policy can also lead to unethical returns by consumers, increasing the rate of returns and the cost of secondary sales. Therefore, return policies remain a hot topic in studying consumer-retailer relationships. This study is based on a literature review of previous research on return policies, with SHEIN serving as a case study. Moreover, the model in this study would use signalizing theory and SOR theory, with perceived fairness as the mediating variable and customer participation as the moderating variable, to determine the impact of a lenient return policy on consumer purchase intention. The questionnaire was then created using online questionnaire software- Wenjuanxin, and respondents completed it online via a QR code link to collect questionnaire data. The 500 collected questionnaires were analyzed with SPSS23.0 and AMOS23.0 for demographic analysis, reliability and validity analysis, correlation analysis, regression analysis, and SEM structural equation modeling to make conclusions. The results show that lenient return policies in the cross-border e-commerce retail industry positively influence perceived fairness. Perceived fairness has a significant positive impact on consumers' purchase intentions. Perceived fairness mediates significantly and partially between lenient returns and consumers' purchase intentions, and information sharing and interpersonal interactions in customer participation moderate lenient return policies and perceived fairness. Finally, this study summarizes the results of the analysis. The findings suggest directions for SHEIN that can be improved, which will help the company in the future. In terms of future research directions, aspects of the returns policy are suggested that could be carried out in-depth in the future. Several shortcomings of this study were listed at the end.
Author: Gülay Samatli-Pac̦
Publisher:
ISBN:
Category : Business logistics
Languages : en
Pages : 242
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Book Description
Customer return policies are one of common after sale services offered by a retailer in order to boost sales, improve customer satisfaction and diminish customer fit uncertainty. With such a service, the retailer accepts the return of a product after the sale has occurred, if it does not satisfy the customer's expectations. This study investigates consumer returns from three different perspectives. First, we start with a single period inventory planning problem of multi-variants in which customers have a right to return products in case of dissatisfaction. We assume that returns can be as-good-as-new condition after a minor restocking process and they are resalable in the same selling period. At the time of purchasing, a customer may choose to substitute her choice with another variant of the item, if the former is sold out. This, so called substitution, and resalable returns are important parameters in assortment planning that might affect the total profit dramatically. Under this setting, we aim to illustrate the effect of return and substitution on the optimal order quantities of variants and the total expected profit. We show that the total profit decreases as the probability of returns or the probability of resalable returns increases. In addition, the probability of substitution, return, or resalable return has a negative effect on inventory level of variants. Second, we analyze a retailer's return policy problem when the market consists of loss-averse customers who are more sensitive to losses than gains instead of being risk-neutral customers. We examine the situation in which a seller makes price and quantity decisions for a single item and also designs an appropriate returns policy in order to maximize his profit. We analyze the case where the seller offers either a full-refund or a partial-refund policy if he decides to accept returns or chooses not to accept any returns. With the full-refund policy, the seller reimburses the consumer the full price of the product if it does not fit the customer's preferences. With a partial-refund policy, the seller offers a refund which is strictly less than the purchase price. We assume that customers are strategic customers aiming to maximize their utilities of the product. With this model, we aim to analyze the impact of loss aversion on the seller's price and order quantity decisions. We show that the seller keeps fewer inventories as customers get more loss-averse and loss-aversion has a negative effect on the expected unit profit. Thus, the total profit decreases as loss-aversion. Finally, we present a model that investigates the effects of return policies on each of the two sellers' pricing decisions when these sellers engage in market size competition. Our model simultaneously addresses a consumer's purchase decision and the competing sellers' price decisions, along with their respective return policies. We assume that two competing sellers which do not have a capacity problem only decide their prices and return policies. The sellers may independently offer no-refund, full-refund of the price of the product, or a partial-refund. The market share of each party depends on his and the rival's price and return policy; customer valuations of the product and the degree of competition between the sellers. Before purchasing, a consumer cannot evaluate the product's utility which is a decreasing function of the price set by the seller from which she chooses to purchase it and the disutility of purchase and/or return which is related to the physical distance between the consumer and the seller's location. The return policy of a seller may also affect a consumer's decision via her expected utility. Thus, pricing and return policy decisions play an important role in the division of the total market. We show that the full-refund policy yields a higher purchasing price compare to the no-refund or partial-refund policy. However, it only performs better in terms of profit when the product has a small salvage value and a partial-refund policy is not an option for the retailer. When the retailer offers the partial-refund policy, it always dominates the other refund policies. In addition, we show that the full-refund policy provides the highest consumer surplus since customers do not face any risk of misfit. On the other hand, the full-refund policy is socially efficient only when the salvage value is high. For low salvage values, the partial-refund policy yields a higher level of social welfare.
Author: Necmi K. Avkiran
Publisher: Springer
ISBN: 3319716913
Category : Business & Economics
Languages : en
Pages : 243
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Book Description
This book pulls together robust practices in Partial Least Squares Structural Equation Modeling (PLS-SEM) from other disciplines and shows how they can be used in the area of Banking and Finance. In terms of empirical analysis techniques, Banking and Finance is a conservative discipline. As such, this book will raise awareness of the potential of PLS-SEM for application in various contexts. PLS-SEM is a non-parametric approach designed to maximize explained variance in latent constructs. Latent constructs are directly unobservable phenomena such as customer service quality and managerial competence. Explained variance refers to the extent we can predict, say, customer service quality, by examining other theoretically related latent constructs such as conduct of staff and communication skills. Examples of latent constructs at the microeconomic level include customer service quality, managerial effectiveness, perception of market leadership, etc.; macroeconomic-level latent constructs would be found in contagion of systemic risk from one financial sector to another, herd behavior among fund managers, risk tolerance in financial markets, etc. Behavioral Finance is bound to provide a wealth of opportunities for applying PLS-SEM. The book is designed to expose robust processes in application of PLS-SEM, including use of various software packages and codes, including R. PLS-SEM is already a popular tool in marketing and management information systems used to explain latent constructs. Until now, PLS-SEM has not enjoyed a wide acceptance in Banking and Finance. Based on recent research developments, this book represents the first collection of PLS-SEM applications in Banking and Finance. This book will serve as a reference book for those researchers keen on adopting PLS-SEM to explain latent constructs in Banking and Finance.
Author: Manfred Krafft
Publisher: Springer Science & Business Media
ISBN: 3540720030
Category : Business & Economics
Languages : en
Pages : 458
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Book Description
With crisp and insightful contributions from 47 of the world’s leading experts in various facets of retailing, Retailing in the 21st Century offers in one book a compendium of state-of-the-art, cutting-edge knowledge to guide successful retailing in the new millennium. In our competitive world, retailing is an exciting, complex and critical sector of business in most developed as well as emerging economies. Today, the retailing industry is being buffeted by a number of forces simultaneously, for example the growth of online retailing and the advent of ‘radio frequency identification’ (RFID) technology. Making sense of it all is not easy but of vital importance to retailing practitioners, analysts and policymakers.
Author: Yi Meng Sun
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Problem definition: We consider an omnichannel retailer selling multiple substitutable products through an online channel and a physical store. Online purchases can be returned either by mail or to the physical store. The retailer decides each product's price and refund value for each channel to maximize his expected profit.Methodology/results: We capture a consumer's sequential decisions on making a purchase and potentially returning her product using a generalized Markovian logit choice (MLC) model. We use this model to formulate a joint pricing and refund optimization problem for the retailer. If there are no constraints on prices and refund values, this problem is convex and we obtain analytical expressions of its optimal solution. Otherwise, the problem may become non-convex and we approximate it using a mixed-integer linear program. We estimate the generalized MLC model using transaction data that may only be partially observable, making our framework applicable to a data-driven setting. Numerical experiments using synthetic data demonstrate that our estimation-and-optimization framework based on this generalized MLC model fits a general data set well and produces competitive results. A case study using data with some unobservable consumer choices from a major fashion retailer demonstrates that our joint pricing and refund optimization approach significantly outperforms heuristics commonly used in practice.Managerial implications: To benefit from return policies, the retailer needs to guarantee good quality or non-negative online or offline return social welfare for each product. Under the cross-channel substitution effect, the optimal online and offline prices can move in opposite directions, and the rise of any product's offline cost makes the retailer more willing to offer the return policies for online purchases.
Author: United States. Office of Education
Publisher:
ISBN:
Category : Education
Languages : en
Pages : 838
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Book Description
