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Author: Juanjuan Zhang
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Ldquo;Behavior-based personalizationrdquo; has gained popularity in recent years, whereby businesses offer personalized products based on consumers' purchase histories. This paper highlights two perils of behavior-based personalization in competitive markets. First, although purchase histories reveal consumer preferences, competitive exploitation of such information damages differentiation, similar to the classic finding that behavior-based price discrimination intensifies price competition. With endogenous product design, there is yet a second peril. It emerges when forward-looking firms try to avoid the first peril by suppressing the information value of purchase histories. Ideally, if a market leader serves all consumers on day one, purchase histories contain no information about consumer preferences. However, knowing that their rivals are willing to accommodate a market leader, firms are more likely to offer a mainstream design at day one, which jeopardizes differentiation. Based on this understanding, I investigate how the perils of behavior-based personalization change under alternative market conditions, such as firms' better knowledge about their own customers, consumer loyalty and inertia, consumer self-selection, and the need for classic designs.
Author: Juanjuan Zhang
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Ldquo;Behavior-based personalizationrdquo; has gained popularity in recent years, whereby businesses offer personalized products based on consumers' purchase histories. This paper highlights two perils of behavior-based personalization in competitive markets. First, although purchase histories reveal consumer preferences, competitive exploitation of such information damages differentiation, similar to the classic finding that behavior-based price discrimination intensifies price competition. With endogenous product design, there is yet a second peril. It emerges when forward-looking firms try to avoid the first peril by suppressing the information value of purchase histories. Ideally, if a market leader serves all consumers on day one, purchase histories contain no information about consumer preferences. However, knowing that their rivals are willing to accommodate a market leader, firms are more likely to offer a mainstream design at day one, which jeopardizes differentiation. Based on this understanding, I investigate how the perils of behavior-based personalization change under alternative market conditions, such as firms' better knowledge about their own customers, consumer loyalty and inertia, consumer self-selection, and the need for classic designs.
Author: Bruce Ferwerda
Publisher: Springer Nature
ISBN: 3031551095
Category : Human-computer interaction
Languages : en
Pages : 304
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Book Description
Zusammenfassung: This book investigates the potential of combining the more quantitative - data-driven techniques with the more qualitative - theory-driven approaches towards the design of user-centred intelligent systems. It seeks to explore the potential of incorporating factors grounded in psychological theory into adaptive/intelligent routines, mechanisms, technologies and innovations. It highlights models, methods and tools that are emerging from their convergence along with challenges and lessons learned. Special emphasis is placed on promoting original insights and paradigms with respect to latest technologies, current research trends, and innovation directions, e.g., incorporating variables derived from psychological theory and individual differences in adaptive intelligent systems so as to increase explainability, fairness, and transparency, and decrease bias during interactions while the control remains with the user
Author: João G. Violante
Publisher:
ISBN:
Category :
Languages : en
Pages : 55
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Book Description
The personalization of services and products offered to customers is becoming crucial for the success of companies. Firms that can maintain a personalized relationship with their customers will not only gain an advantage from competitors but will also benefit from having more loyal and valuable customers. The recent advances in technology and the associated cost reduction are allowing companies to gather information about their customers and their behavior in an easy and inexpensive way. This collection and analysis of behavior-based information increases the companies' knowledge about their customers and allows a more personalized approach. This thesis studies what has been accomplished in the domain of behavior-based personalization and in more detail what are the techniques and strategies being used and how companies can take advantage of its applications. Moreover, this thesis discusses the critical role of personalization in building effective customer relationships management (CRM) strategies.
Author: J”rg Ziesak
Publisher: Anchor Academic Publishing (aap_verlag)
ISBN: 3954890615
Category : Business & Economics
Languages : en
Pages : 63
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Book Description
''Online Privacy Fears Stoked By Google, Twitter, Facebook Data Collection Arms Race'', ''Your E-Book Is Reading You'', '' 'Instant personalization' brings more privacy issues to Facebook''. These are only a few recent examples of media headlines that deal with the issue of online privacy and personalization. Scholars and managers have repeatedly stated the benefits of personalization which is targeting products and services to individual customers, and constitutes a key element of an interactive marketing strategy. In order to accurately estimate the needs and wants of customers, it is necessary to gather a significant amount of information. Privacy concerns may arise when personal information about customers is gathered. If this arises, personalization can backfire by making clients reluctant to use the service or - even worse - developing a negative attitude towards the company. A recent survey by Opera Software (2011) found that Americans fear online privacy violations more than job losses or declaring personal bankruptcy. This had induced politicians to introduce regulations and laws that address online privacy that safeguards consumers against online monitoring, and intrusion into confidential user information. However, privacy online remains a complicated issue for both, managers and politicians for new personalization technology emerges at a much faster pace than political regulations and guidelines. This is the first study that establishes a link between different types of data collection, data usage, and concerns for information privacy. It also analyses the impact of privacy concerns on value, risk and usability perception of personalization, and the users' willingness to transact with the website. Further, it develops a conceptual framework, and tests it by collecting responses to a questionnaire from an online-crowdsourcing sample of Amazon Mechanical Turk.
Author: Martin Peitz
Publisher: Oxford University Press
ISBN: 0195397843
Category : Business & Economics
Languages : en
Pages : 615
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Book Description
The economic analysis of the digital economy has been a rapidly developing research area for more than a decade. Through authoritative examination by leading scholars, this Handbook takes a closer look at particular industries, business practices, and policy issues associated with the digital industry. The volume offers an up-to-date account of key topics, discusses open questions, and provides guidance for future research. It offers a blend of theoretical and empirical works that are central to understanding the digital economy. The chapters are presented in four sections, corresponding with four broad themes: 1) infrastructure, standards, and platforms; 2) the transformation of selling, encompassing both the transformation of traditional selling and new, widespread application of tools such as auctions; 3) user-generated content; and 4) threats in the new digital environment. The first section covers infrastructure, standards, and various platform industries that rely heavily on recent developments in electronic data storage and transmission, including software, video games, payment systems, mobile telecommunications, and B2B commerce. The second section takes account of the reduced costs of online retailing that threatens offline retailers, widespread availability of information as it affects pricing and advertising, digital technology as it allows the widespread employment of novel price and non-price strategies (bundling, price discrimination), and auctions, as well as better tar. The third section addresses the emergent phenomenon of user-generated content on the Internet, including the functioning of social networks and open source. Finally, the fourth section discusses threats arising from digitization and the Internet, namely digital piracy, privacy and internet security concerns.
Author: Louis Freund
Publisher: AHFE International (USA)
ISBN: 1495120910
Category :
Languages : en
Pages : 660
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Book Description
If there is any one element to the engineering of service systems that is unique, it is the extent to which the suitability of the system for human use, human service, and excellent human experience has been and must always be considered. An exploration of this emerging area of research and practice, Advances in the Human Side of Service Engineering covers a broad spectrum of ergonomics and human factors issues highlighting the design of contemporary service systems.
Author: Peter S.H. Leeflang
Publisher: Springer
ISBN: 1493920863
Category : Business & Economics
Languages : en
Pages : 417
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Book Description
This book is about how models can be developed to represent demand and supply on markets, where the emphasis is on demand models. Its primary focus is on models that can be used by managers to support marketing decisions. Modeling Markets presents a comprehensive overview of the tools and methodologies that managers can use in decision making. It has long been known that even simple models outperform judgments in predicting outcomes in a wide variety of contexts. More complex models potentially provide insights about structural relations not available from casual observations. In this book, the authors present a wealth of insights developed at the forefront of the field, covering all key aspects of specification, estimation, validation and use of models. The most current insights and innovations in quantitative marketing are presented, including in-depth discussion of Bayesian estimation methods. Throughout the book, the authors provide examples and illustrations. This book will be of interest to researchers, analysts, managers and students who want to understand, develop or use models of marketing phenomena.
Author: Richard Blundell
Publisher: Cambridge University Press
ISBN: 1107185157
Category : Business & Economics
Languages : en
Pages : 665
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Book Description
This book uses surveys to bridge the gap between studies into European economics and policymaking in Europe. It is also available as open access.
Author: K. Sudhir
Publisher: Emerald Group Publishing
ISBN: 1802628770
Category : Business & Economics
Languages : en
Pages : 247
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Book Description
Review of Marketing Research pushes the boundaries of marketing—broadening the marketing concept to make the world a better place. Here, leading scholars explore how marketing is currently shaping, and being shaped by, the evolution of Artificial Intelligence (AI).
Author: Ariel Ezrachi
Publisher: Harvard University Press
ISBN: 0674973356
Category : Business & Economics
Languages : en
Pages : 365
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Book Description
“A fascinating book about how platform internet companies (Amazon, Facebook, and so on) are changing the norms of economic competition.” —Fast Company Shoppers with a bargain-hunting impulse and internet access can find a universe of products at their fingertips. But is there a dark side to internet commerce? This thought-provoking exposé invites us to explore how sophisticated algorithms and data-crunching are changing the nature of market competition, and not always for the better. Introducing into the policy lexicon terms such as algorithmic collusion, behavioral discrimination, and super-platforms, Ariel Ezrachi and Maurice E. Stucke explore the resulting impact on competition, our democratic ideals, our wallets, and our well-being. “We owe the authors our deep gratitude for anticipating and explaining the consequences of living in a world in which black boxes collude and leave no trails behind. They make it clear that in a world of big data and algorithmic pricing, consumers are outgunned and antitrust laws are outdated, especially in the United States.” —Science “A convincing argument that there can be a darker side to the growth of digital commerce. The replacement of the invisible hand of competition by the digitized hand of internet commerce can give rise to anticompetitive behavior that the competition authorities are ill equipped to deal with.” —Burton G. Malkiel, Wall Street Journal “A convincing case for the need to rethink competition law to cope with algorithmic capitalism’s potential for malfeasance.” —John Naughton, The Observer
