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.

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.

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.

中国传统价值观对于消费行为影响研究——以上海手机市场为例(英文)

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

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.

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.