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

Customer empowerment in tourism through Consumer Centric Marketing (CCM)

We explain Consumer Centric Marketing (CCM) and adopt this new technique to travel context. Benefits and disadvantages of the CCM are outlined together with warnings of typical caveats Value: CCM will be expected as the norm in the travel industry by customers of the future, yet it is only the innovators who gain real tangible benefits from this development. We outline current and future opportunities to truly place your customer at the centre and provide the organisation with some real savings/gains through the use of ICT Practical Implications: We offer tangible examples for travel industry on how to utilise this new technology. The technology is already available and the ICT companies are keen to establish ways how consumers can utilise it, i.e. by providing ‘content’ for these ICT products the travel industry can fully gain from these developments and also enhance consumers’ gains from it. This can result in more satisfied customers for the travel (as well as ICT) companies thus truly adopting the basic philosophy of marketin

A new model to support the personalised management of a quality e-commerce service

The paper presents an aiding model to support the management of a high quality e-commerce service. The approach focuses on the service quality aspects related to customer relationship management (CRM). Knowing the individual characteristics of a customer, it is possible to supply a personalised and high quality service. A segmentation model, based on the "relationship evolution" between users and Web site, is developed. The method permits the provision of a specific service management for each user segment. Finally, some preliminary experimental results for a sport-clothing industry application are described

An intelligent recommendation system framework for student relationship management

In order to enhance student satisfaction, many services have been provided in order to meet student needs. A recommendation system is a significant service which can be used to assist students in several ways. This paper proposes a conceptual framework of an Intelligent Recommendation System in order to support Student Relationship Management (SRM) for a Thai private university. This article proposed the system architecture of an Intelligent Recommendation System (IRS) which aims to assist students to choose an appropriate course for their studies. Moreover, this study intends to compare different data mining techniques in various recommendation systems and to determine appropriate algorithms for the proposed electronic Intelligent Recommendation System (IRS). The IRS also aims to support Student Relationship Management (SRM) in the university. The IRS has been designed using data mining and artificial intelligent techniques such as clustering, association rule and classification

Data Mining in Electronic Commerce

Modern business is rushing toward e-commerce. If the transition is done properly, it enables better management, new services, lower transaction costs and better customer relations. Success depends on skilled information technologists, among whom are statisticians. This paper focuses on some of the contributions that statisticians are making to help change the business world, especially through the development and application of data mining methods. This is a very large area, and the topics we cover are chosen to avoid overlap with other papers in this special issue, as well as to respect the limitations of our expertise. Inevitably, electronic commerce has raised and is raising fresh research problems in a very wide range of statistical areas, and we try to emphasize those challenges.Comment: Published at http://dx.doi.org/10.1214/088342306000000204 in the Statistical Science (http://www.imstat.org/sts/) by the Institute of Mathematical Statistics (http://www.imstat.org

Target group segmentation in the virtual space as a tool for defining the concept of a territory brand

Purpose: The article is aimed at investigating the possibility of competitiveness increase and investment attractiveness of the territory by means of virtual space segmentation where territorial entities interact. Design/Methodology/Approach: At present, interaction of most economic agents is conducted by means of internet technologies and web platforms. In the framework of territory development special emphasis is given to a territory brand to attract investments. Sustainable territory development in the competitive environment directly depends on the unleashing of territory potential, which in its turn is closely related to the problem of attracting resources and investments. In the context of the developed information society competitiveness of territorial entities is largely determined by the level and activeness of their representation in the internet space. Since the quality of the territory is determined by a number of advantages over other territories claiming to the same investments, one of the key mechanisms of forming such advantages is an effective presence of a territorial entity in the internet space. Findings: A three-tier synthetic model of the target group segmentation in the territory virtual space defining the brand concept is elaborated and justified. Practical implications: In practice, a proposed toolkit allows organizing internet representation of the territory, which lets take the territory represented to a new level of competitiveness. Originality/value: An original tool mechanism of forming the concept of territory brand by means of the target segmentation of the virtual space is proposed.peer-reviewe

A model to assess customer alignment through customer experience concepts

Business and Information Technology Alignment (BITA) has been one of the main concerns of IT and Business executives and directors due to its importance to overall company performance, especially today in the age of digital transformation. For BITA has been developed several models which in general has focused in the implementation of alignment strategies for the internal operation of the organizations and in the measurement of this internal alignment, but, there is still a big gap in measurement models of the alignment with the external environment of the organizations. In this paper is presented the design and application of a maturity measurement model for BITA with the customers, where the customers are actors of the external environment of the companies. The proposed model involves evaluation criteria and business practices which the companies ideally do for improve the relationship with their customers.Comment: 12 pages, Preprint version, BIS 2019 International Workshops, Seville, Spain, June 26 to 28, 2019, Revised Paper

Strategic marketing planning : a state of the art review

School of Managemen