12,321 research outputs found

    Measuring Customer Value and Market Dynamics for New Products of a Firm:An Analytical Construct for Gaining Competitive Advantage

    Get PDF
    The role of customer value has been largely recognized over time by the firms as an instrument towards stimulating market share and profit optimization. The customer values for a new product of firm in competitive markets are shaped more by habits, reinforcement effects, and situational influences than strongly-held attitudes. A strong and sustainable customer value associated with a new product launched by a firm may also lead to build the customer loyalty in the long run. An analysis of the new product-market structuring based on customer value may be developed well within the microeconomic framework of a firm. The measure of customer value as the efficiency of new product may be viewed from the customer’s perspective towards a ratio of outputs (e.g., perceived use value, resale value, reliability, safety, comfort) that customers obtain from a product relative to inputs (price, running costs) that customers have to deliver in exchange. However, the aggregate returns on the customer value towards the new product from the perspective of a firm may be observed manifesting in enhancing the market share, market coverage and augmenting profit in a given market. There has not been many contributions emerged in the past addressing the measurement of the customer value as an intangible asset of the firms, though substantial literature is available discussing the customer relations and loyalty building perspectives. This paper attempts to critically examine the available literature on the subject, discuss a model that provides a framework for analyzing the variables associated with customer value and to identify potential research areas. A basic premise of the paper is that the focus should be on maximizing total customer value and customer satisfaction which are inter-dependent in the decision making process towards buying new products. The framework of the construct is on a proposed model which integrates all aspects so as to maximize the potential of the organization and all its subsystems to create and sustain satisfied customers. The discussion in the paper on the customer value gaps in the process of marketing new products explores the possible situations that may lead to lower the customer value.New product management, customer value measurement, market coverage, aggregate returns, market penetration, model construct and estimation, profitability

    Determinants of Shopping Behavior of Urban Consumers

    Get PDF
    This study explores the influence of geo-demographic settings of commercial centers, customer attractions in shopping malls, and route to shopping of urban shoppers. The present research analyzes retailing patterns in urban areas in reference to customer orientation strategies, product search behavior and enhancing the customer value. Interrelationship among urban retailing, marketplace ambiance, conventional shopping wisdom of customers, long-term customer services, and technology led selling processes are also addressed in the study based on empirical survey. Broadly, this study makes contributions to the existing research in urban retailing towards factors determining shopping attractions, routes to shopping, and establishing the customer-centric strategies of the firms.Shopping mall, multi-channel retailing, consumer behavior, customer-centric strategy, market attractiveness, customer satisfaction

    Consumer Culture and Purchase Intentions towards Fashion Apparel

    Get PDF
    This study examines the effectiveness of different fashion marketing strategies and analyzes of the consumer behavior in a cross-section of demographic settings in reference to fashion apparel retailing. This paper also discusses the marketing competencies of fashion apparel brands and retailers in reference to brand image, promotions, and externalmarket knowledge. The study examines the determinants of consumer behavior and their impact on purchase intentions towards fashion apparel. The results reveal that sociocultural and personality related factors induce the purchase intentions among consumers. One of the contributions that this research extends is the debate about the converging economic, cognitive and brand related factors to induce purchase intentions. Fashion loving consumers typically patronage multi-channel retail outlets, designer brands, and invest time and cost towards an advantageous product search. The results of the study show a positive effect of store and brand preferences on developing purchase intentions for fashion apparel among consumers.Consumer behavior, purchase intention, socio-cultural values, designer brands, store brands, fashion apparel, brand promotion, personalization, fashion retailing, psychographic drivers

    The Effects of Self-Reinforcing Mechanisms on Firm Performance

    Get PDF
    This study empirically investigates the influence of the market-bound (i.e., interaction and network effects) on the firm-bound (i.e., scale and learning effects) self-reinforcing mechanisms, and their combined effect on product and organizational performance. The findings from a sample of 257 manufacturing firms reveal that interaction effects have a positive effect on network effects. Network effects have a positive impact on the potential for firms to realize scale and learning effects, which in turn, is positively related to their actual realization of these effects. The actual realization of scale and learning effects has a positive effect on product performance, which in turn positively influences organizational performance. These effects are robust across industries and provide ample opportunities for future research.management;economics;increasing returns;self-reinforcing mechanisms

    Value Creations Through Co-Creation and Collaboration Strategy in SMEs Creative Industry

    Get PDF
    The study focuses on fashion Small Medium Entreprises (SMEs) in Indonesia utilizing strategies and efforts to develop value creations. It is generated by co-creation and collaboration strategy which are supported by market attractiveness and dynamic capabilities. The objectives of this study are to perform analysis on co-creation, collaboration strategy and value creations of SMEs in fashion industry. The research method is descriptive and explanatory survey. The sample size are thirty one SMEs in Bandung and Partial Least Square (PLS) technique was used to test the hypothesis model. The unique findings is co-creation and collaboration strategy have influence on value creations. Market attractiveness or potential profitability be a major input in formulating and implementing both strategies. The phenomena depicted that optimizing market attractiveness and dynamic input capabilities can help SMEs formulate and implement co-creation and collaboration strategy more effectively to create value for customers (value creations). This research gave theoritical recommendation for fashion industry to enhance their value creations process and to develop co-creation and collaborations strategy. &nbsp

    Supplier Selection and Relationship Management: An Application of Machine Learning Techniques

    Get PDF
    Managing supply chains is an extremely challenging task due to globalization, short product life cycle, and recent advancements in information technology. These changes result in the increasing importance of managing the relationship with suppliers. However, the supplier selection literature mainly focuses on selecting suppliers based on previous performance, environmental and social criteria and ignores supplier relationship management. Moreover, although the explosion of data and the capabilities of machine learning techniques in handling dynamic and fast changing environment show promising results in customer relationship management, especially in customer lifetime value, this area has been untouched in the upstream side of supply chains. This research is an attempt to address this gap by proposing a framework to predict supplier future value, by incorporating the contract history data, relationship value, and supply network properties. The proposed model is empirically tested for suppliers of public works and government services Canada. Methodology wise, this thesis demonstrates the application of machine learning techniques for supplier selection and developing effective strategies for managing relationships. Practically, the proposed framework equips supply chain managers with a proactive and forward-looking approach for managing supplier relationship
    corecore