Application of artificial neural network in market segmentation: A review on recent trends

Despite the significance of Artificial Neural Network (ANN) algorithm to market segmentation, there is a need of a comprehensive literature review and a classification system for it towards identification of future trend of market segmentation research. The present work is the first identifiable academic literature review of the application of neural network based techniques to segmentation. Our study has provided an academic database of literature between the periods of 2000-2010 and proposed a classification scheme for the articles. One thousands (1000) articles have been identified, and around 100 relevant selected articles have been subsequently reviewed and classified based on the major focus of each paper. Findings of this study indicated that the research area of ANN based applications are receiving most research attention and self organizing map based applications are second in position to be used in segmentation. The commonly used models for market segmentation are data mining, intelligent system etc. Our analysis furnishes a roadmap to guide future research and aid knowledge accretion and establishment pertaining to the application of ANN based techniques in market segmentation. Thus the present work will significantly contribute to both the industry and academic research in business and marketing as a sustainable valuable knowledge source of market segmentation with the future trend of ANN application in segmentation.Comment: 24 pages, 7 figures,3 Table

An agent-based fuzzy cognitive map approach to the strategic marketing planning for industrial firms

This is the post-print version of the final paper published in Industrial Marketing Management. The published article is available from the link below. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. Copyright @ 2013 Elsevier B.V.Industrial marketing planning is a typical example of an unstructured decision making problem due to the large number of variables to consider and the uncertainty imposed on those variables. Although abundant studies identified barriers and facilitators of effective industrial marketing planning in practice, the literature still lacks practical tools and methods that marketing managers can use for the task. This paper applies fuzzy cognitive maps (FCM) to industrial marketing planning. In particular, agent based inference method is proposed to overcome dynamic relationships, time lags, and reusability issues of FCM evaluation. MACOM simulator also is developed to help marketing managers conduct what-if scenarios to see the impacts of possible changes on the variables defined in an FCM that represents industrial marketing planning problem. The simulator is applied to an industrial marketing planning problem for a global software service company in South Korea. This study has practical implication as it supports marketing managers for industrial marketing planning that has large number of variables and their cause–effect relationships. It also contributes to FCM theory by providing an agent based method for the inference of FCM. Finally, MACOM also provides academics in the industrial marketing management discipline with a tool for developing and pre-verifying a conceptual model based on qualitative knowledge of marketing practitioners.Ministry of Education, Science and Technology (Korea

The Waikato Region: Major tourism issues and opportunities to facilitate tourism development: Public summary

A regional tourism project was commissioned by Katolyst, the Waikato Economic Development Agency, to assess the following: What is meant by regional tourism; the current views of industry stakeholders within the tourism and hospitality sectors; major issues, drivers, and obstacles facing tourism and pathways to address them, including industry capabilities and new opportunities for industry growth. The purpose of this research was to record the voice of tourism operators and stakeholders at the grass roots, to identify the specific issues facing the Waikato. Visitors do not focus on geographical or political boundaries, but rather are seeking an experience that transcends these boundaries. The region is generally ignorant of the significant economic impacts of the tourism sector, and education and advocacy is urgently needed. Tourism should not be seen in isolation to other key economic generators for the region, and there is potential for cross sector regional initiatives between tourism and other major sectors within the Waikato that could lead to cross sector strategic growth. The Waikato is a significant player in international visitor expenditure (7th out of 30 tourism regions), although the forecasted growth to 2012 for the Waikato is less than the national average. Although the Australian visitor market is significant for Hamilton International Airport, it comprises just 2% of all Australian visitors to New Zealand. Domestic visitors are the major driver of visitor expenditure in the region, with domestic visitor expenditure in the Waikato the third highest among the 30 tourism regions in New Zealand. Events are a driver, yet there is a perception that there is a lack of coordination and regional linkages. i-SITEs are inadequately funded and can rely on non-visitor revenue streams. There is a need to improve tourism expertise and knowledge to facilitate product development, especially getting current and potential tourism product export ready and to understand the distribution channels for domestic and international marketing. Most operators in the region are small owner operated firms with a few medium sized firms. A number are lacking tourism sector knowledge and business capabilities

The theory of international business: the role of economic models

This paper reviews the scope for economic modelling in international business studies. It argues for multi-level theory based on classic internalisation theory. It present a systems approach that encompasses both firm-level and industry-level analysis

The Human Capital “Impact” on E-Business: The Case of Encyclopedia Britannica

[Excerpt] The term “New Economy” has been coined to describe the remarkable economic performance of the 1990s. Stiroh, (1999) an economist at the Federal Reserve Bank of New York observes that its defining characteristic is a “focus on increasing globalization and expanding information technology” (pg. 87). Research suggests that revenues from electronic based business to business trade will double over the next five years from $43 billion in 1998 to$1.3 trillion in 2003. Revenues from business to consumer trade are predicted to rise from $8 billion to$108 billion over the same time period (Forrester Research, 1998). However, there is increasing attention to the challenges facing business in the new economy, and an increasing chorus of analysts suggesting how tenuous many of these business models really are. A recent Barron’s article showed that many dot-com companies have only days of remaining cash (Willoughby, March 20, 1999). Such a key emerging phenomenon has not escaped the attention of writers, though the existing body of writing has some important gaps. We would classify existing e-business literature into two groups. First, there is a growing body of literature that discusses the how the Internet is transforming business models and organizational strategies. A second, much smaller body of work has focused on e-HR, or more specifically, the implications of the Internet on various HR practices

A conceptual model for global multi-channel customer management

Previous Global CRM research has recommended that scholars reassess all of CRM systems in global environment (Ward 2005; Ramaseshan et al., 2006). Channel management is one CRM systems component much influenced by the behaviour of customers in relation to the implementation and use of channel management CRM component. The consumers’ behaviours, preferences, perceptions and expectations are crucial for the implementation and use of channel management. Customers’ contact with the organization’s multi-channels can occur at several touch points through out customer lifecycle. Customers’ behaviours may be differentiated according to the individual or micro level, but it might also differ at an ecological or macro level of analysis. A conceptual model has been developed to analyze customers’ behaviours at a macro level and customers channel choices, through out the customer lifecycle

Multichannel in a complex world

The proliferation of devices and channels has brought new challenges to just about every organisation in delivering consistently good customer experiences and effectively joining up service provision with marketing activity, data and content. A good multichannel strategy and execution is increasingly becoming essential to marketers and customer experience professionals from every sector. This report seeks to identify the key issues, challenges and opportunities that surround multichannel and provide some best practice insight and principles on the elements that are key to multichannel success. As part of the research for this report, we spoke to six experienced customer experience and marketing practitioners from large organisations across different sectors. In Multichannel Marketing: Metrics and Methods for On and Offline Success, Akin Arikan (2008) said: ‘Because customers are multichannel beings and demand relevant, consistent experiences across all channels, businesses need to adopt a multichannel mind-set when listening to their customers.’ It was clear from the companies interviewed for this report that it remains challenging for many organisations to maintain consistency across so many customer touchpoints. Not only that, but the ability to balance consistency with the capability to fully exploit the unique attributes of each channel remains an aspiration for many. The proliferation of devices and digital channels has added complexity to customer journeys, making issues around the joining up of customer experience and the attribution of value of key importance to many. Whilst senior leaders within the organisations spoken to seem to be bought in to multichannel, this buy-in was not always replicated across the rest of the organisation and did not always translate into a cohesive multichannel strategy. A number of companies were undertaking work around customer journey mapping and customer segmentation, using a variety of passive and actively collected data in order to identify specific areas of poor customer experience and create action plans for improvement. Others were undertaking projects using sophisticated tracking and tagging technologies to develop an understanding of the value and role of specific channels and to provide better intelligence to the business on attribution that might be used to inform future investment decisions. A consistent barrier to improving customer experience is the ability to join up many different legacy systems and data in order to provide a single customer view and form the basis for delivery of a more consistent and cohesive multichannel approach. Whilst there remain significant challenges around multichannel, there are some useful technologies allowing businesses to develop better insight into customer motivation and activity. Nonetheless, delivery of seamless multichannel experience remains a work-inprogress for many

The impact of post-merger integration on the customer-supplier relationship

While the impact of mergers and acquisitions (M&A) on internal stakeholders has generated considerable empirical study, comparatively little academic attention has been paid as to how external stakeholders such as customers are affected by, and respond to, M&A activity. This study adopts case-study methodology to illuminate how the customer–supplier relationship is affected by post-merger integration processes in the business-to-business context, with the aim of increasing our understanding of why customers respond to M&A in the ways that they do. The findings highlight the importance of a set of critical customer relationship variables through which post-M&A integration actions can influence customers' perceptions of the merged organisation and, ultimately, their purchase decisions. We also identify a set of specific individual integration actions that appear to trigger changes in the critical customer relationship variables. Together, the findings contribute to our understanding of the precise mechanisms through which M&A can affect customers' purchase decisions and the combining firms' market-related performance. More broadly, consistent with the stakeholder perspective, they reinforce the need to take account of external as well as internal stakeholders when considering the drivers of M&A outcome. Implications are discussed for future research as well as for B2B service industry executives involved in M&A

Strategic management, competitive advantage and the balanced scorecard in the New Zealand kiwifruit industry : a co-operative group case study : a thesis presented in partial fulfilment of the requirements for the degree of Master of Applied Science in Agribusiness at Massey University

Kiwifruit is New Zealand's biggest horticultural industry. The industry, which is lead by Zespri Group Limited, the statutory monopoly for the country's kiwifruit export, is the second most important producer of kiwifruit in the world. In a relative stable world kiwifruit industry, New Zealand has enjoyed buoyant returns in the last seasons. However, it is starting to feel the pressures for consolidation and globalisation, as well as other opportunities and threats. This situation is forcing kiwifruit service providers to plan strategically for the future and change. In this context, Satara Co-operative Group Limited came to life in June 2002, as one of the biggest post harvest operators in the industry, controlling 16.5% and 10% of kiwifruit and avocado volumes, respectively. However, although the hybrid cooperative started after a merger with a new strong corporate identity, it had neither a complete strategic analysis nor a written strategic plan to follow. Separately, a strategic management implementation tool called the Balanced Scorecard (BSC) has had worldwide acceptance and success in the last 10 years. In light of Satara's current strategic circumstances, the tool arises as a feasible and timely strategic solution for the organization. This research investigated whether Satara Co-op Ltd has a competitive advantage in the New Zealand kiwifruit industry through a complete strategic analysis. The research also studied whether the organization's competitive strategics could be implemented through the Balanced Scorecard framework. The research was based on the case study methodology that used extensive secondary data research, personal interviews and visits to relevant industry stakeholders, including: Zespri Group Ltd, Seeka Kiwifruit Industries, New Zealand Fruit Growers Federation, Aongatete Packhouses, Trevelyans Packhouses, and New Zealand Avocado Industry Council, amongst others, as well as in depth interviews to Satara Co-op Ltd executive and managerial positions. The case study data was analysed using pattern matching and explanation building. The results showed that it was not possible to conclude based on tangible data whether Satara Co-op Ltd had a competitive advantage. However, when available tangible data was added to intangibles and stakeholder's statements about the organization, along with the application of the SELECT framework, it was possible to determine that Satara's competitive advantage was based in its cooperative structure, scale and geographic diversity as well as its future diversification capabilities under different scenarios. The case study results also acknowledged that Satara Co-op Ltd strategies could be implemented through the Balanced Scorecard framework, as its strategies and available information allow the implementation of the framework building blocks, which are objectives, measures, targets and initiatives in four perspectives, namely financial, customer, internal processes and learning and growth. Satara strategies also match in various degrees the BSC extension framework, the strategy map, with its sub categories of revenue growth, productivity strategy, customer value proposition, internal businesses strategic themes and learning and growth drivers. This allowed the construction of a corporate strategy map, which was presented to the organization. Because the BSC and the organization's improvements due to the framework implementation could not be tested during the time allocated to this research, recommendations were drawn in respect to how the organization's competitive advantage and its competitive strategies will deliver to shareholders vision through the implementation of the corporate BSC presented and further score cards development at different levels in the organization. Keywords: strategic management, competitive advantage, cooperative, kiwifruit, avocado, packhouse, coolstore, Balanced Scorecard and strategy map