Omni-Channel Retailing and Firm Performance from a Customer Lifetime Value Perspective

In the digital era,retailers are keen to find out whether omni-channel retailing helps improve long-term firm performance.In this paper,we employ machine learning techniques on a large consumption data set in order to measure customer lifetime value(CLV)as the basis for determining long-term firm performance,and we provide an empirical analysis of the relationship between omni-channel retailing and CLV.The results suggest that omni-channel retailing may effectively enhance CLV.Further analysis reveals that this process is influenced by heterogeneous consumer requirements and that significant differences exist in the extent to which the omni-channel transition may influence CLV depending on consumer preferences for diversity of commodities,sensitivity to the cost of contract performance,and sensitivity to warehousing costs.Hence,retailers should provide consumers with a complete portfolio of goods and services based on target consumers’heterogeneous requirements in order to increase omni-channel efficiency.

Research on the Value Positioning of University Library Based on Customer Delivered Value

With the rise of various new reading media and the rapid development of the digitization of paper resources,the traditional function positioning of university libraries based on information query is facing unprecedented challenges.How to deal with the change of social information?The library should be demand-oriented,re-examine its own value and find a new starting point.With the help of the concept of customer delivered value and based on 4P theory,this paper constructs the value chain of university library from the dimensions of product,image,personnel and service,and forms a multi-dimensional development positioning system.

Analysis on the Effective Management and Enterprise Value Based on Employee and Customer Value

Value is the internal driving force for any corporate to obtain profits. The key issue of making profit lies on whether the corporate can truly appreciate the needs and combination of stakeholders＇ value, and establish a successful management of value exchange system. This paper starts with the theories of the employee and customer value measurement and management, followed by the value exchange system of employee-customer-organization. Therefore, it explains the status and role of employee-customer-organization in terms of value exchange. This work concludes that customers＇ satisfaction is determined by employees＇ satisfaction, and on that basis, customers would provide the promoted value to the organization.

An Empirical Investigation of the Resource-based Antecedents of Customer Value in Turbulent Environments in China

With the increasingly turbulent environment and the significant role of customers in business success, creating and delivering superior customer value by deploying unique competences of a firm has been winning more attention. However, studies of customer value seem rather divergent and fragmented, and few studies, if any, have been conducted to identify the distinctive capabilities that determine the effective and efficient creation and delivery of customer value. This paper tries to bridge such gaps and explores the fundamental antecedents of customer value in turbulent environments in perspective of a resource-based theory. Based on the structural equation models developed, we find that technological competences, integrative competence and strategic flexibility are the key resource-based antecedents of customer value while no evidence is found to support the impact of marketing competences on customer value. Furthermore, only the moderating role of marketing turbulence in the relationship between customer value and strategic flexibility is detected and supported.

The effect of experiential value, perceived quality and customer satisfaction on customer lifetime value： An example using Star Cruises

The current study represents an attempt at experiential value, perceived quality and customer satisfaction influence on customer lifetime value. The sampling frame consisted of Star Cruises purchases in Taiwan. The authors have collected yield 268 questionnaires, by screening out 13 questionnaires, including those missing value or incomplete answer, and finally a usable sample of 255 questionnaires were utilized in this study. The results show that experiential value, perceived quality and customer satisfaction have positive effects to customer lifetime value. Especially, experiential value has the strongest direct effect. Therefore, if resources are limited, the manager should focus on shaping the experiential value to increase customer lifetime value. Implications for marketing theory and practitioners are discussed, and possible directions for future research are sketched.

The Prediction Analysis of Customer Lifetime Value in Business to Business Enterprise

The measurement of customer assets value has become a significant task in the field of marketing. Although a series of achievements have been formed, the deeper research is still needed in the following aspects： how to build parameter estimation model of various variables based on the interaction among customer assets elements and how to get the scientific and available measured data. In order to solve these problems, this paper, based on the characteristics of customer relationship in Business to Business （B to B） enterprise and the analysis of the variable factors in the interactive models will systematically and practically use the seemingly unrelated regression method to construct three main parameters estimation models in the customer assets measurement model, and prove the feasibility of the model through a case study. Research results show that measurement model system constructed by this method solves the problem of interaction and germination among parameters influencing factors. At the same time, factors concentration simplifies data sources to ensure the reliability and objectivity of the data, and thus improve the accuracy and feasibility of the estimation of customer assets value.

Exploring a Deep Analysis Method for “Click-Stream” Information from the Perspective of the Flow of Bidirectional Value of Customer Relations Based on Ricoeur's Hermeneutic Theory

Click-streams of online shopping are the tracks/trails of interactions between a customer and a vendor.We observe that it is of great importance both in theory and practice to explore a deep analysis method for analyzing click-stream information of an individual customer in a specific transaction for understanding the bidirectional value transfer within the machine-human interaction of an online store and for its personalization.We analyze the significance,the hierarchical structure and the characteristics of click-stream information and propose that Ricoeur's hermeneutic theory be the foundation of forming such a deep analysis method.Then we use the empirical context information of the click-stream to improve the naive interpretation put forward by Ricoeur.Moreover,we apply the Grounded Theory to extend the deep analysis of Ricoeur's theory of textual interpretation.The improved theory fits well with the needs of interpretation and the analysis of click-stream information.We exemplify and show the feasibility of this analysis method by using data collected(a single case)from a large study of human-computer interaction.

Customer-Value Creation in Self-service Technologies (SSTs) in the Tourism Industry

This paper explores and validates the process of customer value creation in self-service technologies(SSTs)in the context of the tourism industry.As the self-technology has been gradually advanced,its adoption in the tourism industry has brought many changes.A new trend of self-service technologies has helped service firms to save the labor costs and customers’waiting time for transactions.The purpose of this study is to confirm an applicability and a design of the original model of SSTs and explore the connection between SSTs and creation of value perception through a confirmatory factor analysis in the context of the tourism industry.Furthermore,the results of the online survey questionnaire from 234 responses in the United States and South Korea are explained in this study.The results of this study concluded that five statistically important factors are related to customers’motivations to use SSTs and enable customers to interact with SSTs as“SST location and capacity planning”,“SST service quality”,“motivations to use SST”,“SST design”,and“SST encounter”.These factors may imply an important meaning to better understand about customer value during the adoption of SSTs in the tourism industry.Tourism firms may use the results of this study to effectively enhance how customers perceive value about their products and services during the usage of SSTs.This will help tourism firms’efficiencies on the adoption of SSTs for their business plans and help them remain profitable in the competitive market.

Research on Community Fresh O2O Purchase Intention Based on Customer Perceived Value

Based on the theory of customer perceived value,this paper makes an empirical analysis on the purchase intention of community fresh O2O,and proposes the customer perceived value concept including result,program,service,social and emotional value.At the same time,the intermediary variable of consumption attitude is put forward and the theoretical model constructed.It is verified that perceived value significantly influences purchase intention and consumption attitude,and plays an intermediary role between them by regression analysis method.This detailed study on the mechanism of perceived value influencing purchase intention through consumption attitude is of great guidance value.

Influence of Traditional Chinese Values on Consumer Behavior:the Case of Mobile in Shanghai

This study investigates how traditional Chinese values influence Chinese consumer behavior directly and indirectly through the impact on people's lifestyles and perceived values.The empirical research is conducted in the context of the mobile phone market in Shanghai.The study establishes measurement scales of Confucian value,lifestyle,and customer perceived value for Chinese market.Relationships of multiple factors are tested in the structural equation model and their impacts on consumer behavior are elaborated.Findings indicate that Confucian values not only have a direct impact on Chinese consumer behavior but also indirectly influence this behavior through impacting people's lifestyles and perceived values.

Application of Activity Based Costing in Customer Evaluation and Management

As plant develops, many industries＇ automatic level is very high leading to the increasing of indirect cost. Traditional costing methods, which use single standard of distributing indirect cost, cannot calculate cus- tomer cost accurately and satisfy managers any more. This paper is aimed on solving the aforesaid problem. In this paper we propose the thought of evaluating customer cost by using activity based costing（ABC） and the tra- ditional model of customer lifetime value（CLV） to improve the CLV model, then analyze the difference of using both models through an empirical study. As a result, ABC can account customer cost more accurately so that the CLV can help managers evaluate customer more effectively.

Gap Model for Dual Customer Values

The customer value, the key problem in customer relationship management （CRM）, was studied to construct a gap model for dual customer values. A basic description of customer values is given, and then the gaps between products and services in different periods for the customers and companies are analyzed based on the product or service life-cycle. The main factors that influence the perceived customer value were analyzed to define the ＂recognized value gap＂ and a gap model for the dual customer values was constructed to supply companies with a tool to analyze existing customer value gaps and improve customer relationship management.

Apparel Brand Overlap Based on Customer Perceived Value and Eye-Tracking Technology

Competition in the apparel market has developed from preliminary price competition, quality competition, and scale competition to the current state of brand competition. The phenomenon of brand overlap cannot be avoided by apparel enterprises during the process of building and manufacturing their brands. This paper has selected nine identification elements of three dimensions, which we used to construct an apparel brand overlap identification model. This model is based on the theories of customer perceived value and brand identity and was constructed by taking consumer perspectives as the starting point. Two apparel brands from the representative international E Company have been selected as our empirical research objects. An apparel brand overlap identification model has been constructed based on questionnaire analysis and a cognitive experiment involving eye-tracking technology. In addition, the overlap elements among apparel brands, as well as the cognitive situation of consumers with regard to brand overlap, have been analyzed.

SIMPLE COMPUTING OF THE CUSTOMER LIFETIME VALUE:A FIXED LOCAL-OPTIMAL POLICY APPROACH

In this paper,we present a new method for finding a fixed local-optimal policy for computing the customer lifetime value.The method is developed for a class of ergodic controllable finite Markov chains.We propose an approach based on a non-converging state-value function that fluctuates（increases and decreases） between states of the dynamic process.We prove that it is possible to represent that function in a recursive format using a one-step-ahead fixed-optimal policy.Then,we provide an analytical formula for the numerical realization of the fixed local-optimal strategy.We also present a second approach based on linear programming,to solve the same problem,that implement the c-variable method for making the problem computationally tractable.At the end,we show that these two approaches are related：after a finite number of iterations our proposed approach converges to same result as the linear programming method.We also present a non-traditional approach for ergodicity verification.The validity of the proposed methods is successfully demonstrated theoretically and,by simulated credit-card marketing experiments computing the customer lifetime value for both an optimization and a game theory approach.

Customer Value Analysis in the Context of Internet Commerce of Industrial Robots

Internet commerce of industrial robots has the potential to provide higher value to customers in downstream industries. Aiming to transform the potential to a reality, customer values are systematically analyzed on basis of Value-Focused Thinking, which includes five aspects of identification, expression, organization, measurement and utilization. Nine types of heuristic questions are firstly used to identify customers＇ value statements. These statements are then transformed into a common expression. Then means-ends analysis and part- whole analysis are used to infer the relationships among statements, and result in a means-ends network and a hierarchical value tree for organizing them. To measure achievement of customer values, a decision model is used to identify and select the measurable attribute of each value statement, and a value model is then constructed from the set of measurable attributes. Finally, customer values are actively applied to support decision customer procurement, website design, creative or improved design of industrial robots. making of

Problems and Characteristics of Russian Platinum Metals Exporters

The paper revealed the place and role of Russia in the global market of platinum metals, highlighted features of pricing in the export of Russian platinum group metals, the main problems of pricing in the export contracts related to the instability of markets and imperfect currency and customs legislation of the Russian Federation, proposed innovative ways to solutions to existing problems in the preparation and conclusion of export contracts.

Application of CVAM-based management accounting in mobile telecommunication enterprises

CVAM-based management accounting emphasizes that enterprises should make efforts not only to provide goods or service to customers but also to create value for customers. In practice, customer value should be measured reasonably first. Then according to its condition, enterprise can apply the CVAM-based management accounting method by improving management quality, perfecting costing planning, brand operation and business innovation to create value for customers thus achieving increase of corporate value as well as social value.

SPECIAL ISSUE EDITORIAL ON MASS CUSTOMIZATION AND SUSTAINABLE VALUE SYSTEMS

Today, new products or services must be designed to satisfy ever changing consumer demand by companies to remain competitive. Mass customization, personalized services, and integration of information and decision processes are needed to produce an increasingly diverse range of products and services. At the same time efficiency as well as flexibility of design and production processes need to be improved.

A New Method to Evaluate the Corporation——Experimental Research on the Example of NetEase Company

Most of the Internet or e-commerce corporations have few earnings or even none. The traditional corporation valuation methods don not work well when encountering these types of corporations. Just in these backgrounds, a new method called CVBC model is brought forward to evaluate these types of corporations in our article, which is based on the customer lifetime value. In essence, it extends the concept of customer lifetime value and combined with the traditional financial methods, then creates a new valuation method. It can work well to the corporations, which have been said before. The principle, mathematical model of the method and the effect of the practical application are discussed in detail.

CUSTOMER EQUITY: MAKING MARKETING STRATEGY FINANCIALLY ACCOUNTABLE

The article presents an overview of the literature on customer equity and how customer equity provides an opportunity for marketers to make marketing strategy financially accountable. Traditionally, Return on Investment (ROI) models have been used to evaluate the financial expenditures required by the strategies as well as the financial returns gained by them. However in addition to requiring lengthy longitudinal data, these models also have the disadvantage of not evaluating the effect of the strategies on a firm’s customer equity. The dominance of customer-centered thinking over product-centered thinking calls for a shift from product-based strategies to customer-based strategies. Hence, it is important to evaluate a firm’s marketing strategies in terms of the drivers of its customer equity. The article summarizes a unified strategic framework that enables competing marketing strategy options to be traded off on the basis of projected financial return, which is operationalized as the change in a firm’s customer equity relative to the incremental expenditure necessary to produce the change.