The impact of generation Y’s customer experience on emotions: online banking sector

Recently, banking sector focused on attracting Generation Y (individuals born between 1980 and 2000) because they have emerged as a huge force with growing spending power which will unavoidably rival with Baby Boomers’ market dominance. They try to attract them through a unique customer experience, especially the ability of differentiation. Using the Mehrabian & Russell’s model of stimulus (S) - organism (O) - response (R), this study developed the Generation Y customer experience framework that intends to explain their consumer emotional responses toward customer experience attributes in a bank through three aspects: pleasure, dominance, and arousal toward online banks. Empirical evidence, based on data from a survey suggests that the overall customer experience attributes in the bank had a positive relation with emotional responses in different ways. “Value for money”, “Getting things right the first time” and “Put the consumer first” emerged as the most important attributes for Generation Y in experiencing a bank.info:eu-repo/semantics/acceptedVersio

Bookselling online: an examination of consumer behaviour patterns.

Based upon empirical research, and using a range of methods, this paper examines the behaviour and experiences of consumers in online bookselling settings and offers comparison between online and offline (traditional) bookselling. The research finds that while the convenience of online bookshops is important, the key factors enticing consumers online are a combination of breadth of range, ease of access to obscure titles, as well as personalised recommendations and customer reviews. The research is of value to the book trade, highlighting consumer responses to widely adopted online marketing approaches. The research also contributes to scholarly knowledge in the fields of consumer behaviour, e-marketing and e-commerce in online bookselling, as well as providing findings which can be tested in other online settings, informing future theoretical research

Drivers and technology-related obstacles in moving to multichannel retailing

Today, multichannel retailing is a key strategic issue for most retailers. Yet, while there are many drivers associated with retailers going multichannel so too are there technology-related obstacles, however, few prior empirical studies explore these themes. In light of this, by using a multi-case approach to understand the key drivers and technology-related obstacles associated with retailers moving to multichannel retailing our study makes two key contributions. First, we extend prior theory by providing novel empirical insights into the main drivers underpinning retailers using a multichannel strategy. We find that meeting customer needs and increasing sales were the primary drivers behind retailers using the strategy, although there is diversity in the way retailers respond to these motives. Second, we provide empirical support for a proposed theoretical framework which summarises the key technology-related obstacles retailers encounter when going multichannel, by stage of implementation. The framework reveals that retailers face technology-related obstacles when implementing a multichannel strategy due to the need to switch/acquire resources and achieve channel integration. Furthermore, the framework highlights that these resource and channel integration issues are often interrelated with each other and with other staff engagement and cultural issues, vary by retailer and stage of implementation, and pose greater obstacles to retailers using new and multiple channels than the extant literature suggests

Friends with Benefits: Social Coupons as a Strategy to Enhance Customers’ Social Empowerment

Businesses often seek to leverage customers’ social networks to acquire new customers and stimulate word-of-mouth recommendations. While customers make brand recommendations for various reasons (e.g., incentives, reputation enhancement), they are also motivated by a desire for social empowerment—to feel an impact on others. In several multi-method studies, we show that facilitating sharing of social coupons (i.e., coupon sets that include one for self-use and one to be shared) is a unique marketing strategy that facilitates social empowerment. Firms benefit from social coupons because customers who share spend more and report greater purchase intentions than those who do not. Furthermore, we demonstrate that social coupons are most effective when the sharer’s brand relationship is new versus established. For customers with an established relationship, sharing with a receiver who also has an established relationship maximizes potential impact. Together, these studies connect social empowerment to relationship marketing and provide guidance to managers targeting social coupons

Exploring the impact of the level of absorptive capacity in technology development firms

Absorptive capacity (ACAP) is widely recognized as an effective means of obtaining and sustaining a competitive advantage. Although ACAP was globally introduced decades ago, researchers from Central and Eastern Europe have since underestimated its importance. The research objective of this paper is to answer the following questions: how does the level of ACAP influence the performances of technology-driven firms, and how does it catalyse their innovation outputs? Furthermore, we argue that exporting technology-driven firms possess even higher levels of ACAP than those who are weak or not-at-all exporters. ACAP measured value is examined alongside the innovation outputs of firms and their business performance, with an extended focus on exporters. A selected population of >600 Croatian firms were asked to fill in the questionnaire. Out of the 103 firms that completed the survey, 45 were recognized as intensive technology development performers, and 34 were identified as large exporters. Both populations were tested against formulated hypotheses, ultimately proving that higher levels of ACAP can be seen to positively drive innovation performance which, notably, can be seen most clearly with exporters

Toward a theory of repeat purchase drivers for consumer services

The marketing discipline’s knowledge about the drivers of service customers’ repeat purchase behavior is highly fragmented. This research attempts to overcome that fragmented state of knowledge by making major advances toward a theory of repeat purchase drivers for consumer services. Drawing on means–end theory, the authors develop a hierarchical classification scheme that organizes repeat purchase drivers into an integrative and comprehensive framework. They then identify drivers on the basis of 188 face-to-face laddering interviews in two countries (USA and Germany) and assess the drivers’ importance and interrelations through a national probability sample survey of 618 service customers. In addition to presenting an exhaustive and coherent set of hierarchical repeat-purchase drivers, the authors provide theoretical explanations for how and why drivers relate to one another and to repeat purchase behavior. This research also tests the boundary conditions of the proposed framework by accounting for different service types. In addition to its theoretical contribution, the framework provides companies with specific information about how to manage long-term customer relationships successfully

Contextualising social capital in online brand communities

Online brand communities (OBC) are growing in number and becoming an increasingly important interface where marketers can effectively facilitate the relationship between their brand and consumers. A qualitative study using a four-month netnography over three OBCs followed by focus groups with OBC members explored the dynamics of social capital in these communities. Findings indicate that social capital is an important driver in the success of OBCs, and all the elements of social capital including a shared language, shared vision, social trust and reciprocity are evident. Moreover, results from this study indicate that these elements are crucial in developing the network ties that are integral to building loyalty and brand equity

Social media conflicts during the financial crisis: Managerial implications for retail banks

Social media can be used proactively to disseminate accurate corporate information and address undesirable consumer behaviors online in order to help counteract negativity in the business environment in the wake of a financial crisis. Social media thus has become a popular open forum for financial institutions such as retail banks to engage in corporate dialogue with consumers. We recommend that financial services firms preemptively use their social media?based online communities in order to disseminate accurate corporate information in times of a financial crisis. Particularly, firms can choose between a range of reactive and proactive strategies to manage social conflict in the wake of a financial crisis