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Journal articles on the topic 'Customers Preference'
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Tilahun, Minyahel, and Melaku Beshaw. "Customer’s Perception and Preference towards Packaged Drinking Water." Scientific World Journal 2020 (February 29, 2020): 1–11. http://dx.doi.org/10.1155/2020/6353928.
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Two hundred customers were purposively selected from two study areas (market, residence) in Addis Ababa to assess customer’s behavior and perception towards packaged water. The sampling and data collection process of the study followed systematic analysis of Theory Planned Behavior. The average monthly income of respondents of this study lay between 5000 ($175) and 10000 ($350) Eth Birr. The primary customer information sources were television and radio. Residence place customers were more concerned about health as compared to market place customers. Market place customers primarily gave emphasis to the price of packaged water. Almost all (97%) customers were not sentient to packaged water standards. However, only few, 86 (43%), customers checked labeled chemical composition, of which 74 (85%) did not understand it. Customer’s sex, education level, and health status showed significant relationship with choice of packaged water quality, −1.42 (p<0.05); price, −2.45 (p<0.01); and health status, –1.80 (p<0.05) in market place and residence place, respectively. Customers were not well aware of what they were purchasing and even customer’s ability to read was not related to customer’s ability to understand what was written in the labels. Customers’ choice of packaged drinking water has been challenged by their health status. Customers are becoming more concerned about prices while they are out of their residence place.
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Shabbir, Malik Shahzad. "Nexus between customer preference and operation of conventional banks Islamic windows in Pakistan." Journal of Islamic Marketing 11, no. 1 (July 4, 2019): 50–65. http://dx.doi.org/10.1108/jima-03-2018-0063.
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Purpose The purpose of this study is to investigate the nexus between preferences of customers toward operations of Islamic windows from conventional banks. However, financial institution system of any country has a dominant importance for its growth level. This study makes a comparative analysis and nexus among Islamic windows of conventional banks, Islamic and conventional banks. Design/methodology/approach A well-designed questionnaire has been made and distributed among three types of bank customers to get their perception and preference regarding services qualities and operations from all three types of financial institutions. This study used statistical package of social sciences software for data analysis. Findings The results revealed that customers from Islamic windows have serious dispute on its Shariah-compliant regulation and fifty one per cent (51 per cent) of customer did not trust on the member of Shariah board. The mid age of customers preferred the services of Islamic windows, as it has multi-dimensional options for customers. Finally, customers from almost all three types prestigious that technology has found a significant impact for better service qualities and found a positive change in customer behavior. Originality/value This study is a first ever attempt in its nature to investigate that the customer’s preferences and different operations exist in three types of banking system in Pakistan. This study also helps to policymakers regarding customer needs and wants to provide better services.
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Xiao, Y., Y. Cui, N. Raut, J. H. Januar, J. Koskinen, N. Contractor, W. Chen, and Z. Sha. "Information Retrieval and Survey Design for Two-Stage Customer Preference Modeling." Proceedings of the Design Society 2 (May 2022): 811–20. http://dx.doi.org/10.1017/pds.2022.83.
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AbstractCustomer survey data is critical to supporting customer preference modeling in engineering design. We present a framework of information retrieval and survey design to ensure the collection of quality customer survey data for analyzing customers’ preferences in their consideration-then-choice decision-making and the related social impact. The utility of our approach is demonstrated through the survey design for customers in the vacuum cleaner market. Based on the data, we performed descriptive analysis and network-based modeling to understand customers’ preferences in consideration and choice.
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Sharma, Rajesh Shankar, and N. S. Bhalla. "Comparative Analysis of Retail Banking Promotional Measures- A study of customer perception towards promotional strategies adopted by Indian Commercial Banks." Scholedge International Journal of Management & Development ISSN 2394-3378 3, no. 11 (April 2, 2017): 185. http://dx.doi.org/10.19085/journal.sijmd031101.
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In today’s competitive financial world, each financial institution is trying hard to get the maximum share in terms of profit, sales and customers. A customer may be salaried or self employed. Irrespective of the profession, he/she requires banking services like a requirement of loan, services of foreign exchange, safe deposit of money etc. In order to meet and exceed customer’s expectations, Indian banks offer customized banking products. Bank main objective is to get new customer and to retain the existing one. In order to attract new customers, banks are adopting various promotional measures like sales promotion, advertising, personal selling and publicity. Which promotional measure is the most striking one and is liked by customers, poses a big question mark? In order to study the most preferred promotional measure, a survey is being conducted to know the customer preference. 50 customers, each from Axis Bank and IndusInd Bank, are selected for study. The outcome was astonishing as the customers of Axis Bank gives preference to public relation and customers of IndusInd bank gives preference to effective advertising.
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Jang, Minseok, Hyun-Cheol Jeong, Taegon Kim, and Sung-Kwan Joo. "Load Profile-Based Residential Customer Segmentation for Analyzing Customer Preferred Time-of-Use (TOU) Tariffs." Energies 14, no. 19 (September 26, 2021): 6130. http://dx.doi.org/10.3390/en14196130.
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Smart meters and dynamic pricing are key factors in implementing a smart grid. Dynamic pricing is one of the demand-side management methods that can shift demand from on-peak to off-peak. Furthermore, dynamic pricing can help utilities reduce the investment cost of a power system by charging different prices at different times according to system load profile. On the other hand, a dynamic pricing strategy that can satisfy residential customers is required from the customer’s perspective. Residential load profiles can be used to comprehend residential customers’ preferences for electricity tariffs. In this study, in order to analyze the preference for time-of-use (TOU) rates of Korean residential customers through residential electricity consumption data, a representative load profile for each customer can be found by utilizing the hourly consumption of median. In the feature extraction stage, six features that can explain the customer’s daily usage patterns are extracted from the representative load profile. Korean residential load profiles are clustered into four groups using a Gaussian mixture model (GMM) with Bayesian information criterion (BIC), which helps find the optimal number of groups, in the clustering stage. Furthermore, a choice experiment (CE) is performed to identify Korean residential customers’ preferences for TOU with selected attributes. A mixed logit model with a Bayesian approach is used to estimate each group’s customer preference for attributes of a time-of-use (TOU) tariff. Finally, a TOU tariff for each group’s load profile is recommended using the estimated part-worth.
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Zdziebko, Tomasz. "E-Commerce Customers’ Preference Implicit Identification." Folia Oeconomica Stetinensia 11, no. 1 (January 1, 2012): 33–46. http://dx.doi.org/10.2478/v10031-012-0024-7.
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Abstract Knowledge of users’ preferences are of high value for every e-commerce website. It can be used to improve customers’ loyalty by presenting personalized products’ recommendations. A user’s interest in a particular product can be estimated by observing his or her behaviors. Implicit methods are less accurate than the explicit ones, but implicit observation is done without interruption of having to give ratings for viewed items. This article presents results of e-commerce customers’ preference identification study. During the study the author’s extension for FireFox browser was used to collect participants’ behavior and preference data. Based on them over thirty implicit indicators were calculated. As a final result the decision tree model for prediction of e-customer products preference was build.
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Manjushree, S. "Customer Preference towards Use of ATM Services." ComFin Research 8, no. 4 (October 1, 2020): 23–27. http://dx.doi.org/10.34293/commerce.v8i4.3290.
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Automated teller machines have altered the relationship between banks and their customers and competitive relationships among banks. ATMs are self-service vendor machine it permits customers to do anywhere, anytime banking both the bank and customers stand to gain in several ways. In contrast, ATMs bring down the cost per transaction, increase efficiency by reducing the workload of staff, they help to increase accuracy, speed, save time, money and effort of customers. Thus ATM impacts customer services and leads to better customer satisfaction. They enable the bank to transact more business by offering various services in a cost-effective way on one side and to get more customer satisfaction on the other. To analyze the relationship between demographic variables and preferences to use ATM, a structured questionnaire was used to collect the data from a random sample of 50 customers from a syndicate bank in Bhadravati, percentage analysis and chi-square test are applied for data analysis and interpretation. Finally, it attempts to offer suitable suggestions and conclusions to enhance the awareness of ATMs and other related modern services provided by the banks.
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Barton, S. S., J. R. Brooker, C. R. Hall, and S. C. Turner. "Review of Customer Preference Research in the Nursery and Landscape Industry." Journal of Environmental Horticulture 16, no. 2 (June 1, 1998): 118–24. http://dx.doi.org/10.24266/0738-2898-16.2.118.
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Abstract This paper outlines current, descriptive information about the retail plant customer's profile and identifies information needed to complete the profile as well as areas for continued research. Demographic studies that characterize the retail customer base vary with regional market and product lines included in the study. Mass merchandisers attract lower income customers; large, multiple outlet garden centers attract unmarried customers with higher incomes and greater value homes; and independent garden centers attract married, white females. Multiple studies support the conclusion that customers select outlets based primarily on plant quality and selection. Product quality is also the most important characteristic used by retailers when selecting a supplier. Location, price and professional staff also affect outlet selection. Mass merchandisers are selected for familiar, low-risk purchases, while independent garden centers are used for major purchases, when information is desired. The availability of trained, professional sales help is the service most desired by customers. Customers prefer to receive information in the garden center from professional staff and from nursery care tags. Customers prefer to purchase shrubs in containers. In one study, customers preferred to purchase balled and burlapped trees, while in another study trees were preferred in containers. Landscape architects prefer to purchase balled and burlapped plants.
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Ho, Zih Ping, and Tzu Ning Pan. "Manufacturing and Production Collaborative Customers Preference." Applied Mechanics and Materials 307 (February 2013): 506–9. http://dx.doi.org/10.4028/www.scientific.net/amm.307.506.
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Modern manufacturing involved many productions’ constraints and corporation’s objectives. This study tries to considering manufacturing process with customer preference modification; beside, takes convenience stores producing thawing and heating prepared (THP) food for an example. The study constructed a THP diversity with customer preference selection model. Two distribution data of customer behavior were introduced to design parameters of customer preference indicators. Through computer system simulations, the results showed it would increase the profits if manufacturing process considering customers preference. However, it may result in different profits if some of the assumptions are revised. Future research suggests applying this model to others industries.
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Hu, Tun-I., and Andrea Tracogna. "Multichannel search patterns and webrooming behaviours in the service industries: the case of motor insurance." Italian Journal of Marketing 2021, no. 1-2 (March 8, 2021): 57–81. http://dx.doi.org/10.1007/s43039-021-00021-0.
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AbstractThis article aims at analysing the empirical categories and the main determinants of channel choices in the contractualized individual services category, with particular reference to multichannel search patterns and webrooming behaviours, whereby customers search online but purchase offline (namely, at the service provider’s premises). Based on an international survey of motor insurance customers, a set of hypotheses on the determinants of customers’ shopping journeys, inclusive of search and purchase channel decisions, have been tested with a multinomial logistic regression. Our results show that channel choices—both relative to search and to purchase—are significantly influenced by the customer’s preference for personal interaction (which typically favours the personal, offline, channels); overall, the relevance of channel choice determinants differs in the different shopping phases: indeed, while the search patterns (mono vs. multiple; digital vs. personal) are mainly determined by the customer need for information and by her/his preference for shopping innovation and enjoyment, the purchase channel choices are mainly driven by the customer’s preference for service quality (personal purchase) and by his/her price consciousness (digital purchase). In particular, webrooming behaviours occur when a less price-conscious customer, after having actively explored multiple channels to satisfy the appetite for information, eventually prefers to purchase the service at the provider’s physical store (i.e. the insurance agent) to satisfy his/her preference for personal interaction and service quality. These results shed light on multichannel behaviours in service industries and may help providers better inform the retail strategies of contractualized individual services.
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O'Brien, Ingrid M., Robyn Ouschan, Wade Jarvis, and Geoffrey Norman Soutar. "Drivers and relationship benefits of customer willingness to engage in CSR initiatives." Journal of Service Theory and Practice 30, no. 1 (March 25, 2020): 5–29. http://dx.doi.org/10.1108/jstp-08-2018-0186.
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PurposeThe purpose of this paper is to assess the impact of CSR initiative preference, customer helping orientation and customer participation on willingness to engage in CSR and to demonstrate the influence this engagement has on their commitment and loyalty to the organisation.Design/methodology/approachThis study entailed an online survey of customers from a large not-for-profit organisation (n = 210). Choice modelling is used to test a structural equation model of drivers and outcomes of willingness to engage in CSR.FindingsResults demonstrate the CSR initiative preferred by customers has a stronger impact on their willingness to engage with the CSR initiative (volunteering their time, effort, money) than either customers' helping orientation or customer participation. Furthermore, willingness to engage in CSR influences customer commitment and loyalty to support and recommend the organisation.Research limitations/implicationsThe results clearly demonstrate the significant impact that customers' preferences for and willingness to engage in CSR initiatives have on customers' relationship with not-for-profit organisations.Social implicationsThe results highlight the importance of taking into account customer preferences for CSR issues to encourage customers to engage in CSR initiatives designed to benefit society.Originality/valueTraditionally CSR literature has focused on how commercial firms' engagement in CSR creates value for the firm and society. The marketing literature has focused on how customer engagement in brand communities benefits the firm. This study extends the research by exploring customers’ willingness to engage in CSR with not-for-profit organisations. It uses Choice modelling to demonstrate the impact of customer preferences for local and aligned CSR initiatives on customer willingness to engage.
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Zolfagharian, Mohammadali, Fuad Hasan, and Pramod Iyer. "Customer response to service encounter linguistics." Journal of Services Marketing 32, no. 5 (August 13, 2018): 530–46. http://dx.doi.org/10.1108/jsm-06-2017-0209.
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Purpose Focused on multicultural service encounters, this paper aims to argue that the interplay between customer language preference, employee choice and use of language affects perceived interaction quality, which in turn influences loyalty, customer brand identification and positive word-of-mouth. Design/methodology/approach Using Mexican Americans (Spanish) as the focal ethnic group (language), a 3 (contexts: Fast food-English; Post office-English; Post office-Spanish) × 4 (scenarios: customer language preference adhered to; adapted to; mixed; ignored) between-subject scenario-based experiment was conducted. Findings Customers perceive a higher, or at least equal, level of interaction quality when the employee choice of language adheres to their preference than when the employee switches to their preferred language after missing it initially. Both of these scenarios lead to significantly higher interaction quality compared to when the employee ignores customer language preference or combines elements from two languages throughout the interaction. The adverse effects of ignoring customer preferred language or mixing it with another language are accentuated among customers with low ethnic identification and those with low level of bilingualism. Prior findings regard the interplay among interaction quality, and the remainder of outcomes variables were also corroborated. Research limitations/implications The findings add to the literature that examines the dynamics of intercultural service encounters and draws attention to employee choice and use of language and its impact on a host of service outcomes, with interaction quality serving as a key mediator. Practical implications This study highlights the need for service firms to consider customer language preferences and train and empower employees to meet customer expectations. To the extent that the increasingly viable segments of minority customers remain underserved in most developed markets, this study provides insights into cultivating a profitable customer segment. Originality/value This study demonstrates the role of employee choice and use of language and its consequences.
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Hamil, A., and Priyadharshini. "A STUDY ON BUYERS PREFERENCE OF AMWAY PRODUCTS IN TIRUNELVELI." International Journal of Research -GRANTHAALAYAH 4, no. 6(SE) (June 30, 2016): 34–47. http://dx.doi.org/10.29121/granthaalayah.v4.i6(se).2016.2660.
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Customers are the prime focus of any organization. The most important asset that any firm, can have is customers. An organization greatly depends on how many customers it has (customer base) how they buy and how often they buy. Satisfied customers usually buy more and buy frequently. Loyal customers also act best promotional source to new customers. They tend to bring in more and more new customers through word of mouth communication. It improves the market position of the firm and also the profits. This paper deals with the buyers’ preference of amway products in Tirunelveli city.
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Tingchi Liu, Matthew, Ipkin Anthony Wong, Chu Rongwei, and Ting-Hsiang Tseng. "Do perceived CSR initiatives enhance customer preference and loyalty in casinos?" International Journal of Contemporary Hospitality Management 26, no. 7 (October 7, 2014): 1024–45. http://dx.doi.org/10.1108/ijchm-05-2013-0222.
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Purpose – This study aims to investigate how perceptions associated with corporate social responsibility (CSR) initiatives influence customers’ preference and loyalty in a controversial consumer market. The mediating effect of brand preference between perceived CSR initiatives and customer loyalty is also examined. Design/methodology/approach – The methodology in the current study involves the use of questionnaire surveys delivered to a convenience sample in the city of Macau in 2012. A total of 616 valid samples were collected among casino players in a high bet limit area in six major casinos. Regression analysis was used to test the hypotheses formulated for carrying the study forward. Findings – The findings indicated that customers’ brand preference can be enhanced by their perceptions on CSR. Two CSR initiatives (stakeholders and society) significantly increase loyalty intention, although to varying degrees. The impact of CSR on stakeholders has a stronger influence on customers’ brand preference. Another important finding of the current study is the fact that brand preference is a partial mediator of perceived CSR initiatives and customer loyalty. Research limitations/implications – This study verified the relationship among CSR initiatives perception, brand preference and loyalty intention in the context of the Macau gaming industry. Perceived CSR initiatives enhance customer loyalty. Additionally, this study found a partial mediating effect of brand preference between CSR perception and customer loyalty. Practical implications – Customer loyalty can be enhanced with companies’ appropriate investments in social responsibilities. Although a socially responsible brand image of a company is not guaranteed to be a competitive advantage that attracts more premium customers, there is a general consensus that it may result in the latter with appropriate CSR strategies involving the greatest attention directed toward improving stakeholders’ interests. From the marketing perspective, retaining premium customers with a higher brand preference level is a key to both long-term competitiveness and profitability. Originality/value – This study investigates how premium customers’ perceived CSR initiatives of a casino influence their loyalty intention, and also examines how brand preference, as a mediator, influences the relationship between perceived CSR and loyalty intention. Extending the realm of CSR study to understand the linkage between CSR and customer behaviors is also important because multiple theories predict different benefits, and assessing the value of CSR, therefore, requires multiple approaches. Finally, evidence from the research is significant for researchers and practitioners, especially when working on conflicting issues.
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Kwak, Minjung. "Monte Carlo Simulation of the Effect of Heterogeneous Too-Cheap Prices on the Average Price Preference for Remanufactured Products." Sustainability 13, no. 17 (August 24, 2021): 9498. http://dx.doi.org/10.3390/su13179498.
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A prevailing assumption in research on remanufactured products is “the cheaper, the better”. Customers prefer prices that are as low as possible. Customer price preference is modeled as a linear function with the minimal price at customers’ willingness to pay (WTP), which is assumed to be homogeneous and constant in the market. However, this linearity assumption is being challenged, as recent empirical studies have testified to customer heterogeneity in price perception and demonstrated the existence of too-cheap prices (TC). This study is the first attempt to investigate the validity of the linearity assumption for remanufactured products. A Monte Carlo simulation was conducted to estimate how the average market preference changes with the price of the remanufactured product when TC and WTP are heterogeneous across individual customers. Survey data from a previous study were used to fit and model the distributions of TC and WTP. Results show that a linear or monotonically decreasing relationship between price and customer preference may not hold for remanufactured products. With heterogeneous TC and WTP, the average price preference revealed an inverted U shape with a peak between the TC and WTP, independent of product type and individual customers’ preference function form. This implies that a bell-shaped or triangular function may serve as a better alternative than a linear function can when modeling market-price preference in remanufacturing research.
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Afriani, Tia, and Nadia Asandimitra. "Determinants of Customer Preference to Save in Islamic Bank." al-Uqud : Journal of Islamic Economics 4, no. 1 (January 16, 2020): 1. http://dx.doi.org/10.26740/al-uqud.v4n1.p1-17.
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The widespread use of sharia products and instruments encourages society to save funds in sharia banks. The main purpose of this research is to test the effect of financial literacy, profit sharing, knowledge of customers, gender, age, education, income to saving decisions. The type of research is quantitative research by using a non-probability sampling method with snowball sampling and purposive sampling technique to get a sample of 230 respondents. The object of this research was sharia bank's customers in Surabaya. The data obtained by spreading the questionnaire online and offline contains 41 items of statement and question. The data analysis technique is multiple linear regression that calculated by software package used for the analysis of statistical data. The result found that financial literacy’s of customer has medium effect about 72.1% to their saving decision. The higher level of customer’s financial literacy increases their ability to manage finance and saving. Meanwhile, profit-sharing has an effect to saving decision, as the higher level of profit sharing will raise society’s interest for saving in sharia bank. Otherwise, customer knowledge and demographic factors (gender, age, education and income) have no effect to their saving decision.
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Zhang, Lei, Zhi Feng Liu, and Hong Bao. "Customer Clustering for Product Green Design." Applied Mechanics and Materials 130-134 (October 2011): 3763–66. http://dx.doi.org/10.4028/www.scientific.net/amm.130-134.3763.
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The characteristic of product’s life-cycle customer environment requirements is analyzed. A customer clustering methode for green design is proposed. Conjoint analysis method is used to obtain individual customer’s environment requirements and system-clustering method is used to cluster customers in accordance with their environment requirements preference. Green product customer clustering is realized. Thus, successive development of green product can be supported. Green design oriented customer clustering of soybean milk maker is illustrated to exemplify the method.
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Ngamvichaikit, Anothai, and Rian Beise-Zee. "Customer preference for decision authority in credence services." Managing Service Quality 24, no. 3 (May 6, 2014): 274–99. http://dx.doi.org/10.1108/msq-03-2013-0033.
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Purpose – The purpose of this paper is to examine the effects of offering customer decision authority on customer satisfaction in credence services, and the moderating effects of customer persuasion knowledge and service provider credibility. Design/methodology/approach – A video-based experiment is conducted to achieve high similarity to real service encounters. The video comprises three levels of customer authority while service provider credibility is manipulated. In a subsequent questionnaire, customer response and customer persuasion knowledge are measured. Findings – Results suggest that greater decision authority increases customer satisfaction. However, customer persuasion knowledge and provider credibility together were found to moderate these effects. Offering decision autonomy is most important when source credibility is low and persuasion knowledge is high. Research limitations/implications – The study setting is an initial healthcare encounter. Other service settings and service provider communication behaviors, such as empathy, responding to customer queries, and length of encounter are not considered in this study but should be further studied. Practical implications – The study confirms that offering decision authority to customers increases satisfaction only under certain circumstances. Customers are willing to relinquish authority to credible service providers who then direct customer decisions in order to maintain service quality. Offering decision autonomy to customers is suggested when provider credibility is low and customer persuasion knowledge is high. Originality/value – Analysis of credence service encounters is based on agency theory. Specifically, this study highlights the role of customer (principal) persuasion knowledge, which acts as a qualifier for the principal-agent problem because it alerts the customer to possible persuasion attempts by the service provider, whereas agent credibility eases customer suspicion.
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Bai, Yun, Suling Jia, Shuangzhe Wang, and Binkai Tan. "Customer Loyalty Improves the Effectiveness of Recommender Systems Based on Complex Network." Information 11, no. 3 (March 23, 2020): 171. http://dx.doi.org/10.3390/info11030171.
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Inferring customers’ preferences and recommending suitable products is a challenging task for companies, although recommender systems are constantly evolving. Loyalty is an indicator that measures the preference relationship between customers and products in the field of marketing. To this end, the aim of this study is to explore whether customer loyalty can improve the accuracy of the recommender system. Two algorithms based on complex networks are proposed: a recommendation algorithm based on bipartite graph and PersonalRank (BGPR), and a recommendation algorithm based on single vertex set network and DeepWalk (SVDW). In both algorithms, loyalty is taken as an attribute of the customer, and the relationship between customers and products is abstracted into the network topology. During the random walk among nodes in the network, product recommendations for customers are completed. Taking a real estate group in Malaysia as an example, the experimental results verify that customer loyalty can indeed improve the accuracy of the recommender system. We can also conclude that companies are more effective at recommending customers with moderate loyalty levels.
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Xu, Yong, Jian Liu, Baomei Ma, and Shuai Zhang. "Service Mechanism and Pricing Based on Fairness Preference of Customers in Queuing System." Journal of Systems Science and Information 6, no. 6 (December 10, 2018): 481–94. http://dx.doi.org/10.21078/jssi-2018-481-14.
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AbstractService providers often adopt the mechanism of customer classification due to the heterogeneity of customer waiting cost. However, the classification service may cause unfairness feeling of regular customers, then affect the revenue and social welfare. This paper provides the first exact analysis about the situation that service providers offer two classes of non-preemptive priority service when customer fairness perception is explicitly modeled. We model customer fairness perception as a negative utility on regular customers that’s proportional to the waiting time difference between the two queues. By analyzing a stylized M/M/1 queue in monopoly service system, we can derive important results some of which reaffirm existed research results. First, from the perspective of revenue maximization, service providers should also adopt the mechanism of customer classification and set up the two kinds of customers where they can see each other. Next, considering customer utility maximization, service providers should cancel the mechanism of customer classification, and keep one queue (regular customers) only. Then, from the perspective of social welfare maximization, service providers should also adopt the mechanism of customer classification but set up the two kinds of customers where they cannot feel each other. Finally, this paper concludes the optimal pricing based on customer classification in the above three different perspectives. This research shows important reference value and practical significance for service providers who adopt the mechanism of classification service.
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Li, Manman, Jian Lu, and Wenxin Ma. "A Hybrid Multi-objective Genetic Algorithm for Bi-objective Time Window Assignment Vehicle Routing Problem." PROMET - Traffic&Transportation 31, no. 5 (October 18, 2019): 513–25. http://dx.doi.org/10.7307/ptt.v31i5.3057.
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Providing a satisfying delivery service is an important way to maintain the customers’ loyalty and further expand profits for manufacturers and logistics providers. Considering customers’ preferences for time windows, a bi-objective time window assignment vehicle routing problem has been introduced to maximize the total customers’ satisfaction level for assigned time windows and minimize the expected delivery cost. The paper designs a hybrid multi-objective genetic algorithm for the problem that incorporates modified stochastic nearest neighbour and insertion-based local search. Computational results show the positive effect of the hybridization and satisfactory performance of the metaheuristics. Moreover, the impacts of three characteristics are analysed including customer distribution, the number of preferred time windows per customer and customers’ preference type for time windows. Finally, one of its extended problems, the bi-objective time window assignment vehicle routing problem with time-dependent travel times has been primarily studied.
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Denizci Guillet, Basak, Wei Liu, and Rob Law. "Can setting hotel rate restrictions help balance the interest of hotels and customers?" International Journal of Contemporary Hospitality Management 26, no. 6 (August 5, 2014): 948–73. http://dx.doi.org/10.1108/ijchm-01-2013-0020.
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Purpose – The purpose of this study is to assist hoteliers to design hotel rate restrictions that are in the interest of hotels and of customers, under the joint influence of room rates and rate fences. Design/methodology/approach – This study used a questionnaire as the data collection instrument. Conjoint analysis was applied to examine customers’ preferences regarding hotel rate fences. Findings – The results indicate that refundability, price and advance requirement, in that order, are identified as the most important attributes in the overall decision-making process of customers. Changes allowed and rule type are comparatively less important attributes. Research limitations/implications – This study extends the hotel revenue management literature by examining customer preferences for hotel rate restrictions based on their socio-demographic characteristics and travel behavior. This study also illustrates the usefulness of conjoint analysis in determining the utility values of hotel-room rates and rate fences. Practical implications – The findings of this study may help professional hoteliers to better understand customers’ decision-making process and underlying needs, thus helping them to design attractive rate fences that are in the interests of both hotels and customers. Originality/value – This study is the first to investigate customer preferences regarding hotel rate restrictions based on demographic and travel behavior information. The identification of these preference values should help hoteliers to identify the decision-making processes and needs of customers.
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Ghozi, Saiful, Ramli Ramli, and Asri Setyani. "ANALISIS KEPUTUSAN NASABAH DALAM MEMILIH JENIS BANK: PENERAPAN MODEL REGRESI LOGISTIK BINER (STUDI KASUS PADA BANK BRI CABANG BALIKPAPAN)." MEDIA STATISTIKA 11, no. 1 (September 29, 2018): 17–26. http://dx.doi.org/10.14710/medstat.11.1.17-26.
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This paper analyze factors that influence customer preference between conventional and sharia bank, and which factor is the most dominant. The study was conducted in Balikpapan city from May 2017 until August 2017. The sample is 25 customers of BRI Sharia and 31 customers of conventional BRI. Statistical analysis model used in this paper is Binary Logistics Regression. There are 8 predictor variables to be analyzed to know their effect to customer decision in choosing bank between sharia bank and conventional bank. The variables are: knowledge of respondents about sharia bank (X1), knowledge of respondents about the difference between conventional and sharia banks (X2), knowledge of respondents about products offered by sharia bank (X3), promotion of sharia bank via printed media (X4), promotion of sharia bank via electronic media (X5), promotion of sharia bank in social activities (X6), the customer's efforts to observe religious orders (X7), and the customer's efforts to avoid the religious prohibitions (X8). The results of individual significance test indicate that knowledge of respondents about sharia bank, and promotion of sharia bank through electronic media has significant effect to the customer’s decision in choosing bank. And the most significant effect is promotion through electronic media (X5). Keywords : binary logistic regression, decision, sharia bank
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Fu, Ze, Bo Zhang, Lingjun Ou, Kaiyang Sun, Xinyi Sun, and Ningyan Chen. "Research on Enterprise Financial Customer Classification Method and Preference Based on Intelligent Algorithm." Wireless Communications and Mobile Computing 2021 (November 28, 2021): 1–11. http://dx.doi.org/10.1155/2021/6585486.
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Compared with the past questionnaire survey, this paper applies the intelligent algorithm developed rapidly in recent years to identify the tendency of customers to buy financial products in the market. In addition, for the single state customer classification indicators based on the previous demographic information and action information, it is proposed to combine the action of market activities with demographic information; that is, the static integrated customer classification index is further combined with the improved neural network model to study the classification and preference of enterprise financial customers. Firstly, the enterprise financial customer classification model based on neural network algorithm is studied. Aiming at the shortcomings of easy falling into the local optimal solution of neural network algorithm, slow convergence speed of algorithm, and difficult setting of network structure, combined with the characteristics of genetic algorithm, the concept of adaptive genetic neural network algorithm is proposed. Then, the design of adaptive genetic neural network model is studied. Secondly, combined with the customer data of a financial enterprise and the characteristics of enterprise finance, this paper analyzes the risk influencing factors of enterprise financial customers, analyzes the customer data, evaluates the enterprise financial customers through the adaptive genetic neural network model, and realizes the classification of enterprise financial customers. Through an example, it is proved that the enterprise financial customer classification and preference model based on the adaptive genetic neural network algorithm discussed in this paper has better customer classification accuracy and can provide better method support for enterprise financial customer management.
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Rusli, Wendri. "PENGARUH MEREK DAN CITRA DIRI TERHADAP KEPUASAN KONSUMEN PRODUK TELEPON SELULER DI KOTAMADYA YOGYAKARTA." Jurnal Riset Manajemen dan Bisnis 6, no. 1 (June 1, 2011): 43. http://dx.doi.org/10.21460/jrmb.2011.61.71.
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This study aims to analyze the effect of brand preference and self image congruen-cy on customers satisfaction using seluler's telephonic product. This study uses survey methods. Survey’s region is at Yogyakarta city. The samples used in this study are 100 respondents. This research uses multiple regression as its data analyses. The results show that self-imagecongruency and brand preference influence on customers satisfaction using seluler's telephonical product. Also, this study indicates that self-image congruency’s role is more dominanton customer satisfaction.Keywords: Self Image Congruency, Brand Preference, Consumer Satisfaction
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Zhang, Junwei, Deyu Li, and Xiaoqin Fan. "A Customer-Centric Trust Evaluation Model for Personalized Service Selection." Scientific Programming 2018 (2018): 1–13. http://dx.doi.org/10.1155/2018/4819195.
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Trust is a very important criterion when service customers select desired Web services from a cluster of Web services with the same function. Most existing trust models cannot effectively implement personalized service selection with regard to consumer preferences and expectations. This paper designs a novel trust management method based on peer-to-peer network and presents a customer-centric trust evaluation model for personalized service selection. The trust evaluation model firstly maintains consumer-to-consumer trust values that are calculated according to preference similarity between customers, secondly gathers ratings on services submitted by other consumers, then synthesizes customer-to-customer trust and these ratings to generate personalized consumer-to-service trust, and finally selects the desired services according to the expected trust levels presented by customers. This paper conducts some experiments to demonstrate the details of service selection. Experimental results show that this model has good applicability to implement personalized service selection. The proposed model well simulates the reality.
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García-Gallego, José Manuel, Antonio Chamorro Mera, and María Jesús Barroso-Méndez. "Financial firms’ social activities and how they influence their customers’ preference structure." Social Responsibility Journal 12, no. 1 (March 7, 2016): 69–84. http://dx.doi.org/10.1108/srj-01-2015-0004.
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Purpose – The purpose of this paper is to determine the importance that customers give to social investment activities in their region when selecting a financial entity compared to other features directly related to the service that these institutions provide, namely the origin, the treatment by employees, office location and electronic banking services. Design/methodology/approach – The technique of conjoint analysis is applied via a survey of 427 customers to determine customers’ preference structure when choosing a financial entity. Findings – The results show the importance that customers give to the financial entities’ social activities carried out in the region. Moreover, a buyer segment representing 35 per cent of the sample was identified that assigns greater value to these social activities than to the average customer. Originality/value – The development of corporate social responsibility policies has been a common practice in Spain’s financial sector. However, there is a lack of studies focused on analysing the impact of these policies on customers’ decisions. The authors test this idea by proposing that social initiatives carried out by financial entities strongly influence the preferences of consumers towards these banks compared to other attributes.
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Ieva, Marco, and Cristina Ziliani. "Towards digital loyalty programs: insights from customer medium preference segmentation." International Journal of Retail & Distribution Management 45, no. 2 (February 13, 2017): 195–210. http://dx.doi.org/10.1108/ijrdm-01-2016-0012.
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Purpose The purpose of this paper is to identify patterns of medium preference for loyalty programs (LPs) among members to support the case for segmenting customers based on their medium preference. Design/methodology/approach A survey of nearly 2,000 customers who are enrolled in at least one supermarket LP was employed. LP members are segmented based on a latent class clustering model and then profiled in terms of socio-demographic variables by means of a multinomial logit regression model. Findings Medium preference is heterogeneous and differs at the customer segment and at the LP touchpoint level. Five segments emerge which display different medium preference patterns. LP medium preference is associated with age, gender, affluency and number of different LPs the customer is enrolled in. Practical implications Retailers, e-tailers and brands can benefit from this customer segmentation when faced with the challenges of adding online features or migrating their LPs online. Marketers should differentiate their investment in online and offline LP touchpoints according to the medium preference for each LP touchpoint of the customer segments of interest. Originality/value Retailers, e-tailers and brands are today introducing online marketing strategies and tactics, such as LPs, that have been traditionally used offline. So far, however, they have failed to answer the question whether online and offline LPs and related touchpoints have the same preference among consumers. Literature on LPs has not explored customer preference for the LP medium or the consumer characteristics related to medium preference. This work is unique in providing an overview of medium preference for LPs and their touchpoints.
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Chen, Ningyuan, and Guillermo Gallego. "Nonparametric Pricing Analytics with Customer Covariates." Operations Research 69, no. 3 (May 2021): 974–84. http://dx.doi.org/10.1287/opre.2020.2016.
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Personalized pricing analytics is becoming an essential tool in retailing. Upon observing the profile of each arriving customer, the firm needs to set a price accordingly based on the observed personalized information, such as income, education background, and past purchasing history, to extract more revenue. For new entrants of the business, the lack of historical data may severely limit the power and profitability of personalized pricing. We recommend a pricing policy to firms that simultaneously learns the preference of customers based on the profiles and maximizes the profit. The pricing policy doesn't depend on any prior assumptions on how the personalized information affects consumers' preferences. Instead, it adaptively clusters customers based on their profiles and preferences, offering similar prices for customers who belong to the same cluster trading off granularity and accuracy. We prove that the regret of the proposed policy cannot be improved by any other policy.
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G, MANIMANNAN, SANDHYA P, and NISHANTHI R. "Perceptual map for customer preferences of car brands using multi dimensional scaling." Journal of Management and Science 7, no. 1 (June 30, 2017): 142–49. http://dx.doi.org/10.26524/jms.2017.17.
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This research attempts to identify customer preferences among various car brands. The primary database was collected from Tambaram Municipality using simple random sampling method. The total samples 300 were collected from different customers, the questionnaire divided into two sections, they are (i) demographic details and customer preference like, price, performance, brand name, colors, etc. The main objectives of this research paper to identify which brand has attracted nore number of customers. The application of multidimensional scaling establishes the results of their scores on two dimensions and conclude tMaruti got the first position based on their price and performance, currently a good brand image, but brands like Hyundai and Ford posses second third positions respectively. Ford and Hyndai attract the customers on the basis of prizeperceptions. The perceptual map shows, brands like, Hyundai and Ford perceived to be similar, where as Maruti is a standalone brand.
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Badrinarayanan, Vishag, and Jeremy J. Sierra. "Triggering and tempering brand advocacy by frontline employees: vendor and customer-related influences." Journal of Business & Industrial Marketing 33, no. 1 (February 5, 2018): 42–52. http://dx.doi.org/10.1108/jbim-06-2016-0137.
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Purpose Lawler (2001) posits that social exchanges create a sense of shared responsibility for outcome success. The purpose of this study is to apply this framework to the vendor/frontline employee/customer triad to examine the underlying role of emotions in how frontline employees’ evaluations of vendors and customers trigger and temper brand advocacy efforts, respectively. Design/methodology/approach With cross-sectional data from 168 frontline employees working at a leading national retailer of electronic goods, path analysis is used to evaluate the hypotheses. Findings Frontline employees’ relationship quality with the vendor and perceptions of vendors’ product quality positively influence brand advocacy. Also, customers’ brand affinity and recommendation preference both demonstrate a significant, negative curvilinear relationship with brand advocacy. Research limitations/implications Frontline employees’ emotion-laden evaluations of vendors and customer influence brand advocacy in different ways. Vendor relationship quality and brand quality perceptions “trigger” brand advocacy. However, customer’s affinity toward a vendor’s brand and willingness to seek recommendations “temper” brand advocacy. Specifically, brand advocacy effort is low when customers possess very low and very high affinity toward a focal brand – moderate affinity spurs high advocacy; likewise, advocacy is low when customers demonstrate very low and very high interest in seeking the frontline employees’ opinion – moderate interest spurs high advocacy. Although ideal to examine vendor and customer emotional exchanges, using only frontline employee data from a technology-selling retailer may constrain generalizability. Practical implications Frontline employee training programs should emphasize the customer’s role in the transaction to increase perceptions of shared responsibility, as a means to create a favorable emotional experience, and accentuate timing strategies on when to pursue heightened or diminished emotionally charged brand advocacy efforts. Originality/value This study contributes to the frontline employee behavior literature by viewing shared responsibility in transactions as a source of emotional value, explaining variance in frontline employee brand advocacy through relationship and product quality dimensions, and uncovering curvilinear effects for customers’ brand affinity and recommendation preference in elucidating brand advocacy.
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Jena, Sanjay Dominik, Andrea Lodi, Hugo Palmer, and Claudio Sole. "A Partially Ranked Choice Model for Large-Scale Data-Driven Assortment Optimization." INFORMS Journal on Optimization 2, no. 4 (October 2020): 297–319. http://dx.doi.org/10.1287/ijoo.2019.0037.
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The assortment of products carried by a store has a crucial impact on its success. However, finding the right mix of products to attract a large portion of the customers is a challenging task. Several mathematical models have been proposed to optimize assortments. Most of them are based on discrete choice models that represent the buying behavior of the customers. Among them, rank-based choice models have been acknowledged for representing well high-dimensional product substitution effects and, therefore, reflect customer preferences in a reasonably realistic manner. In this work, we extend the concept of (strictly) fully ranked choice models to models with partial ranking that additionally allow for indifference among subsets of products, that is, on which the customer does not have a strict preference. We show that partially ranked choice models are theoretically equivalent to fully ranked choice models. We then propose an embedded column-generation procedure to efficiently estimate partially ranked choice models from historical transaction and assortment data. The subproblems involved can be efficiently solved by using a growing preference tree that represents partially ranked preferences, enabling us to learn preferences and optimize assortments for thousands of products. Computational experiments on artificially generated data and a case study on real industrial retail data suggest that our proposed methods outperform existing algorithms in terms of scalability, prediction accuracy, and quality of the obtained assortments.
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Du, Laihong, Hua Chen, Yadong Fang, Xiaowei Liang, Yujie Zhang, Yidan Qiao, and Zhen Guo. "Research on the Method of Acquiring Customer Individual Demand Based on the Quantitative Kano Model." Computational Intelligence and Neuroscience 2022 (April 11, 2022): 1–12. http://dx.doi.org/10.1155/2022/5052711.
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In order to realize accurate marketing by analyzing customer individual demand, a new quantitative Kano model method is put forward, and it is helpful to provide customized products for heterogeneous customer classification groups. By improving the traditional Kano model, the customer satisfaction and the importance degree of products are defined, and the quantitative Kano demand model is established. Customers are classified as the price preference group, the brand preference group, and the service priority group, and decision-making of product attribute quality improvement for customer classification is realized. Lastly, electric vehicles (EVs) are selected as a study case, and their various demands for different classifications of customers are discussed by questionnaire survey and calculation of satisfaction and the importance degree. Furthermore, different customer group demands are classified as attractive demands, expected demands, nondifferential demands, or essential demands, and the important product attribute acquisition process for various customers is discussed to improve enterprise market competitiveness.
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Chen, Yujia, Tao Xue, Aarni Tuomi, and Ziya Wang. "Hotel robots: an exploratory study of Generation Z customers in China." Tourism Review 77, no. 5 (July 21, 2022): 1262–75. http://dx.doi.org/10.1108/tr-02-2022-0095.
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Purpose Given little light has been shed on the preference of Generation Z tourists or tourists from different cultural backgrounds toward service robot preference in hospitality contexts, this study aims to explore robot service preferences in the accommodation sector in the Chinese market, with a specific focus of Generation Z customers. Design/methodology/approach This study followed an exploratory sequential research design including two qualitative methods (i.e. projective techniques and semistructured interviews) to reach its objectives. Findings This study suggests that service robots are more preferred for routine tasks and gender differences exist in the preference of service robot’s anthropomorphism level. The preferences are driven by four factors based on different levels of hedonic and utilitarian values: experienced-hedonic value, utilitarian-hedonic value, task-relevant value and utilitarian value. Research limitations/implications First, because of the exploratory nature of this study, the data interpretation is unavoidably subjective; therefore, the results can be confirmed by using a more rigorous research method. Second, this study only focuses on the preference of Generation Z customers in China in the hotel sector; as the cultural differences exist in different countries, this study’s findings cannot be readily generalized across populations and service contexts. Finally, this study fails to dig into the effect of gender differences on varying levels of anthropomorphic attributes. Practical implications As hotels adopt service robots more widely, managers need to identify customers’ service preferences and prioritize tasks between robots and human resources for more efficient service. Particularly important is understanding the benefits and challenges of specific robot implementations rather than looking for a one-size-fits-all mode of operation. Originality/value To the best of the authors’ knowledge, this is the first study to understand robot service preference with regard to specific tourist groups in illustrating their preference for service delivery. Drawing on self-determination theory, this study potentially provides a theoretical basis for hotel service process optimization.
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An, Wookhyun, and Silverio Alarcón. "Inferring customer heterogeneity for rural tourism: A latent class approach based on a best-worst choice modelling." Agricultural Economics (Zemědělská ekonomika) 67, No. 7 (July 14, 2021): 266–76. http://dx.doi.org/10.17221/56/2021-agricecon.
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This research aims to analyse customers' preference heterogeneity for rural tourism in Spain and explore their preferences' personal and socio-demographic factors. To achieve this purpose, latent class analysis with the best-worst choice modelling has been applied through conducting a survey on 452 customers in Madrid and Barcelona. The results show that there are five classes in the Spanish rural tourism market: 'all-around seeker', 'leisure activist', 'culture explorer', 'comfort-driven user', and 'basic value pursuer'. The contribution of this investigation is that it is the first study that applied the latent class analysis with best-worst choice modelling to explore customers' preference heterogeneity for rural tourism.
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Sha, Zhenghui, Youyi Bi, Mingxian Wang, Amanda Stathopoulos, Noshir Contractor, Yan Fu, and Wei Chen. "Comparing Utility-based and Network-based Approaches in Modeling Customer Preferences for Engineering Design." Proceedings of the Design Society: International Conference on Engineering Design 1, no. 1 (July 2019): 3831–40. http://dx.doi.org/10.1017/dsi.2019.390.
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AbstractCustomer preference modeling provides quantitative assessment of the effects of engineering design attributes on customers’ choices. Utility-based approaches, such as discrete choice model (DCM), and network analysis approaches, such as exponential random graph model (ERGM), have been developed for customer preference modeling. However, no studies have compared these two approaches. Our objective is to identify the distinctions and connections between these two approaches based on both the theoretical foundation and the empirical evidence. Using the vehicle preference modeling as an example, our study shows that when network structure effects are not considered, results from ERGM are consistent with DCM in most of the test cases. However, in one case where customers have varying choice set with multiple alternatives, inconsistencies are observed, possibly due to the discrepancies of the two models in taking different information when calculating choice probabilities. The insights will lead to valuable guidance for choosing the technique for customer preference modeling and co- developing the two frameworks to support engineering design.
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Ray, Manidatta, Mamata Ray, Kamalakanta Muduli, Audrius Banaitis, and Anil Kumar. "INTEGRATED APPROACH OF FUZZY MULTI-ATTRIBUTE DECISION MAKING AND DATA MINING FOR CUSTOMER SEGMENTATION." E+M Ekonomie a Management 24, no. 4 (December 2021): 174–88. http://dx.doi.org/10.15240/tul/001/2021-4-011.
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This research work focuses on integrating the multi attribute decision making with data mining in a fuzzy decision environment for customer relationship management. The main objective is to analyse the relation between multi attribute decision making and data mining considering a complex problem of ordering customers segments, which is based on four criteria of customer’s life time value, viz. length (L), recency (R), frequency (F) and monetary value (M). The proposed integrated approach involves fuzzy C-means (FCM) cluster analysis as data mining tool. The experiment conducted using MATLAB 12.0 for identifying eight clusters of customers. The two multi attribute decision making tools i.e., fuzzy AHP (Analytic Hierarchy Process) and fuzzy TOPSIS (Technique for Order Preference by Similarity to Ideal Solution) are used for ranking these identified clusters. The applicability of the integrated decision making technique is also demonstrated in this paper considering the case of Indian retail sector. This research collected responses from nine experts from Indian retail industry regarding their perception of relative importance of four criteria of customer life value and evaluated weights of each criterion using fuzzy AHP. Transaction data of 18 months of the case retail store was analysed to segment 1,600 customers into eight clusters using fuzzy c-means clustering analysis technique. Finally, these eight clusters were ranked using fuzzy TOPSIS (Technique for Order Preference by Similarity to Ideal Solution). The findings of this research could be helpful for firms in identifying the more valuable customers for them and allocate more resources to satisfy them. The findings will be also helpful in developing different loyalty program strategies for customers of different clusters.
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Amer, Afizan, Siti Hajar Md. Jani, Irwan Ibrahim, and Noor Azam Abd Aziz. "BRAND PREFERENCES IN MUSLIMAH FASHION INDUSTRIES: AN INSIGHT OF FRAMEWORK DEVELOPMENT AND RESEARCH IMPLICATIONS." Humanities & Social Sciences Reviews 7, no. 1 (April 15, 2019): 209–14. http://dx.doi.org/10.18510/hssr.2019.7125.
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Purpose: The purpose of this research is to have better insight regarding come out with a conceptual framework in studying the brand preference in Islamic Muslimah fashion industry development.Muslimah fashion industries are areas that have attracted attention, especially after the recent wave among brand endorser such an artist increases their level of awareness towards the religious and affected way of their attire. This study highlights a significant shift in consumers' behavior regarding brand preferences and investigates the motives behind such moves.
Methodology: This paper explores the three independent variables and gathers findings from qualitative data through the literature on factors influencing customers' preferences for Muslimah fashion.Future branding empirical research would include these elements as items in building up the survey instrument.
Results: The results show that uniqueness, price, and celebrity endorser are among the determining factors that influence customers' preferences in making decisions.
Implications: Understanding customers' preferences on Muslimah fashion are crucial for a company that operates in fashion industries due to such a highly competitive industry and rapid change on taste and preference. Having a good understanding of the real motives behind customers' preferences on Muslimah fashion will help the business organization to understand customers better.These results will eventually be used for developing a conceptual framework to be used for future empirical research.
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Dauda, Samson Yusuf, and Jongsu Lee. "Quality of service and customer satisfaction: a conjoint analysis for the Nigerian bank customers." International Journal of Bank Marketing 34, no. 6 (September 5, 2016): 841–67. http://dx.doi.org/10.1108/ijbm-04-2015-0062.
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Purpose The purpose of this paper is to evaluate the perceptions of Nigerian banking customers regarding customers’ evaluation of their banks service quality based on their banks actual performance on current banking service delivery. Design/methodology/approach A survey has been used to collect primary data and 1,245 usable questionnaires were used in the analysis. A conjoint analysis with stated preference data were used to construct the consumers’ behavior, while discrete choice method was employed to evaluate the preferences. More information was obtained by in cooperating heterogeneity into the model by the random coefficient and the test variance with the primary attributes and social demographics and individual characteristics. Findings Discrete choice analysis shows that bank management should focus on: reduction of transaction errors, transaction cost, waiting time and initial online learning time. This four attributes have strong impact on customer’s satisfaction depending on quality performance. Relative to other services the reduction in waiting time and transaction cost are the most important services to the Nigerian banking customers. Other findings of willingness to pay and consumer preference for other attributes reveal more information for improved banking policies. Research limitations/implications The sample only focussed on the urban areas and did not consider rural dwellers. Future research should aim to improve on these by including a variable in the utility set up that captures the distance of the respondent to the main city. Practical implications Nigerian banking customers do not care about a friendly smile as customer care. Rather, they value more on the waiting time and transaction cost showing that convenience and cost dimensions have strong and direct effect on service quality. Other dimensions identified includes, reliability, product portfolio, security and privacy, ease of use, accessibility, and competence and credibility. Originality/value This study has drawn on a sample of 1,245 Nigerian banking customers and evaluating how the survey respondents perceive their respective banks’ performance by their evaluation of the current banking service delivery.
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Deng, Yang, Yaliang Li, Wenxuan Zhang, Bolin Ding, and Wai Lam. "Toward Personalized Answer Generation in E-Commerce via Multi-perspective Preference Modeling." ACM Transactions on Information Systems 40, no. 4 (October 31, 2022): 1–28. http://dx.doi.org/10.1145/3507782.
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Recently, Product Question Answering (PQA) on E-Commerce platforms has attracted increasing attention as it can act as an intelligent online shopping assistant and improve the customer shopping experience. Its key function, automatic answer generation for product-related questions, has been studied by aiming to generate content-preserving while question-related answers. However, an important characteristic of PQA, i.e., personalization, is neglected by existing methods. It is insufficient to provide the same “completely summarized” answer to all customers, since many customers are more willing to see personalized answers with customized information only for themselves, by taking into consideration their own preferences toward product aspects or information needs. To tackle this challenge, we propose a novel Personalized Answer GEneration method with multi-perspective preference modeling, which explores historical user-generated contents to model user preference for generating personalized answers in PQA. Specifically, we first retrieve question-related user history as external knowledge to model knowledge-level user preference. Then, we leverage the Gaussian Softmax distribution model to capture latent aspect-level user preference. Finally, we develop a persona-aware pointer network to generate personalized answers in terms of both content and style by utilizing personal user preference and dynamic user vocabulary. Experimental results on real-world E-Commerce QA datasets demonstrate that the proposed method outperforms existing methods by generating informative and customized answers and show that answer generation in E-Commerce can benefit from personalization.
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Jiang, Haiyang, Mingshu He, Yuanyuan Xi, and Jianqiu Zeng. "Machine-Learning-Based User Position Prediction and Behavior Analysis for Location Services." Information 12, no. 5 (April 22, 2021): 180. http://dx.doi.org/10.3390/info12050180.
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Machine learning (ML)-based methods are increasingly used in different fields of business to improve the quality and efficiency of services. The increasing amount of data and the development of artificial intelligence algorithms have improved the services provided to customers in shopping malls. Most new services are based on customers’ precise positioning in shopping malls, especially customer positioning within shops. We propose a novel method to accurately predict the specific shops in which customers are located in shopping malls. We use global positioning system (GPS) information provided by customers’ mobile terminals and WiFi information that completely covers the shopping mall. According to the prediction results, we learn some of the behavior preferences of users. We use these predicted customer locations to provide customers with more accurate services. Our training dataset is built using feature extraction and screening from some real customers’ transaction records in shopping malls. In order to prove the validity of the model, we also cross-check our algorithm with a variety of machine learning algorithms. Our method achieves the best speed–accuracy trade-off and can accurately locate the shops in which customers are located in shopping malls in real time. Compared to other algorithms, the proposed model is more accurate. User preference behaviors can be used in applications to efficiently provide more tailored services.
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Reid, Scott, Ali Chalak, and Jonathan Hecht. "Determining the optimal investment plan for water utilities: the case of Veolia Water Central." Water Supply 10, no. 3 (July 1, 2010): 367–75. http://dx.doi.org/10.2166/ws.2010.098.
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Water utilities face difficult choices in how most efficiently to plan for investments that best meet the needs of their customer base. An obvious interest of water utilities is thus to optimise their investment planning to obtain the maximum possible benefits for the costs accrued by the investments. The objective of this article is to demonstrate an approach for a water utility to determine the benefits of investments in different possible service areas. We used a stated preference choice experiment approach to estimate the willingness-to-pay of customers of a utility company in Southeast England for various water services that are both private and public in nature. Using state-of-the-art econometric methods, we demonstrate how customer preferences can be estimated at the individual level, as opposed to more standard modelling approaches that assume that tastes are homogeneous among the customer population. Willingness-to-pay results were mostly statistically significant for the various private and public services presented to customers, and results conformed to the expectations of economic theory. We demonstrate how individual-level customer preferences can be used to forecast the preferred alternatives of customers when faced with different possible investment programmes. Lastly, we outline how various benefits and costs, including those captured by willingness-to-pay, are used to optimise the water utility's investment planning.
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Adesoga, Adefulu, and Louise Van Scheers. "Consumer perceptions of banking services: Factors for bank’s preference." Risk Governance and Control: Financial Markets and Institutions 6, no. 4 (2016): 375–79. http://dx.doi.org/10.22495/rcgv6i4c3art2.
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The paper examined consumer perceptions of banking services as a factor for bank’s preference among open and distance learning students. Survey research method was adopted. The population of study was the ODL students from which sample were selected using stratified random sampling technique. Questionnaire was administered on selected samples. The research instrument was validated through content validity while reliability was done through test-re-test method. Respondents’ perceptions of banking services were captured using the factor analysis technique to determine perceptions order of importance while T-Test determined its significance. The study revealed that the different perceptions of the customers were significant in influencing the choice of bank especially by the students. The paper concluded that the consumer perceptions of the banking services were essential requirements for understanding how well to delight banking customers. The study recommended that bank delivery services must be customer oriented and customer relationship focused.
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Hashim, Nor Hashima, Jeffery Das Anak Lamba, Nina Nabiha Hassan, and Wan Nursyuhada Wan Mohd Rozihas. "Lifestyle, Entertainment and Retail Atmospherics of Customer’s Preference Towards A Shopping Mall." e-Academia Journal 11, no. 1 (May 27, 2022): 56–66. http://dx.doi.org/10.24191/e-aj.v11i1.18271.
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A shopping mall is defined as an aggregation of retail and other commercial establishments owned and managed as a single property. Today, shopping malls offer services to customers in the form of convenient access to a desirable mix of retailers within a managed environment to provide a satisfying and safe shopping and leisure experience. This study aims to understand the influence of lifestyle, entertainment, and retail atmospherics on customers’ preferences towards a shopping mall located in Kuala Lumpur, Malaysia. A questionnaire-based survey was conducted to collect information and a total of 250 usable questionnaires were further used for data analysis. The findings indicated that lifestyle and entertainment were significantly related to the customers’ preference towards the mall. Overall, this study provides an understanding of the customers’ preference for a mall and adds to the body of knowledge in understanding consumer behavior.
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Ratnasari, Nissa Ghulma, Sri Rahayu Hijrah Hati, and Dony Abdul Chalid. "Full-Fledged VS Islamic Bank Windows: Which One Do Muslim Consumers Know Better and Prefer More?" IQTISHADIA 14, no. 2 (December 15, 2021): 301. http://dx.doi.org/10.21043/iqtishadia.v14i2.9967.
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<p>The study aims to compare the knowledge of and preference for the Islamic banking window and the full-fledged Islamic bank among Muslim customers. Data were collected from 1171 banking clients. Data were analyzed using descriptive analysis. The results show most Muslim customers do not know the difference between the full-fledged Islamic bank and the Islamic banking window. Yet, most Muslim customers favor the full-fledged Islamic bank to the Islamic windows since it is perceived to be more sharia compliant. Thus, the study theoretically contributes to Muslim banking behavior literature by providing empirical evidence on customer knowledge and preference in choosing an Islamic bank. Besides, the study provides knowledge to both the Islamic bank windows and full-fledged Islamic bank on the Muslim customers' understanding of both channels' availability.</p>
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Giddaiah, Repalle, and Padmasree Karamala. "Customers Preference Attributes in the Usage of Core Banking Services: An Empirical Investigation." International Journal of Social Sciences and Management 1, no. 3 (July 21, 2014): 108–12. http://dx.doi.org/10.3126/ijssm.v1i3.10586.
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Core banking services are increasingly becoming popular because of convenience and flexibility. The study was undertaken all the banking customers of Nandyal town. The sample size of the study was 250. The present study is based on the primary as well secondary data. The primary data is collected from the bank customers who are residing in Nandyal town. Data is analyzed and presented in tables. Statistical tools like percentages and weighted average method were used with the help of SPSS packages. The paper examines to know the customer preference attributes in the usage of core banking services and factors affected them in using core banking services. The finding of the study is majority of the customer’s are preference is given by attributes convenience, availability of places, safety and security and familiarity of services followed by attributes cost of transactions, reliability, availability of time and accessibility of services. The study is useful to the corporate world to tap this area and improve the e-service standards of the banking sector. DOI: http://dx.doi.org/10.3126/ijssm.v1i3.10586 Int. J. Soc. Sci. Manage. Vol.1(3) 2014: 108-112
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Gigante, Nina Isabel, Patricia Anne Martin, and Hiroshi Marutani. "Transitioning Towards a Fully Digital Banking Environment: Analyzing Financial Consumption Preferences of Metro Manila Banking Customers." Journal of Business and Management Studies 4, no. 2 (April 5, 2022): 213–29. http://dx.doi.org/10.32996/jbms.2022.4.2.17.
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The emergence of technology, combined with the adoption and integration of new practices, has greatly affected multiple business fields, including the Philippine banking industry. This leads to the entrance of fully digital banking platforms, a potential alternative to brick-and-mortar banks. Would Metro Manila banking customers utilize fully digital banks, or would they prefer the established traditional banking institutions as their personal choice for financial services and transactions? By surveying 385 respondents, the researchers obtained and analyzed information about the preferences and behavior of banking customers to learn more about the degree to which customer characteristics affected their preferences for certain banking products. This study proved that Metro Manila banking customers have a strong inclination towards physical or traditional banks, given that 60.5% of the total respondents are traditional banking users compared to 4.4% for fully digital banks and 35.1% for both traditional and fully digital banks. Decision variables such as convenience, efficiency, customization/personalization, security, and privacy also played a significant role in evaluating and assessing customer motivation in determining a preference. The results yielded a more localized and concentrated approach that exhibits the factors regarding traditional and fully digital banks that would potentially help the Philippine banking industry to adjust and adapt to emerging technology and consumer needs.
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Oruc, Nermin, and Boris Tihi. "Competitive Location Assessment – the MCI Approach." South East European Journal of Economics and Business 7, no. 2 (November 1, 2012): 35–49. http://dx.doi.org/10.2478/v10033-012-0013-7.
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Abstract In this paper, we have investigated the list of determinants that influence customers to create a short-term preference to a particular store. A survey among 240 households in Sarajevo was conducted in order to reveal their preferences. The results of the MCI model have identified several main stores’ characteristics which have a key influence on customers’ patronage decisions. The findings also suggest that customers, in making their patronage decisions, and hence making their preferences to a particular store, choose among a limited list of alternatives, which implies that competition among outlets is more space limited than had been expected.
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Mandal, Pratap Chandra. "Shifts in Customer Relationship." International Journal of Applied Management Theory and Research 4, no. 1 (January 1, 2022): 1–19. http://dx.doi.org/10.4018/ijamtr.2022010102.
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Companies require building and maintaining customer relationships to achieve excellence in the digital age. Companies should be selective and should develop relationships with loyal and profitable customers and discourage unprofitable customers to continue doing business with them. Companies require developing interactive customer relationships which are mutually beneficial and understanding the growing importance of consumer-generated marketing in the digital age and online marketing domains in forming relationships. They should respect public policies like consumer security and privacy, have knowledge of customer rights, and respect those rights to win customer trust. Firms require developing customer preference programs to strengthen the bondage with passionate customers and to attract potential buyers and convert them into regular customers. All such strategies will help companies understand the shifting nature of customer relationships in the digital age, build in-depth customer relationships, succeed in the tough environment, and achieve business excellence in the digital age.
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O'Brien, Ingrid M., Wade Jarvis, and Geoffrey N. Soutar. "Integrating social issues and customer engagement to drive loyalty in a service organisation." Journal of Services Marketing 29, no. 6/7 (September 14, 2015): 547–59. http://dx.doi.org/10.1108/jsm-02-2015-0085.
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Purpose – The paper aims to measure and identify customer preference for social issues and understand the importance of customer engagement when service organisations implement corporate social responsibility (CSR) programmes. Design/methodology/approach – Developing a relevancy/scope typology framework, this paper then examines the relationships between social issues preference, engagement and loyalty. The models were estimated to assess the role engagement played in the relationship between CSR issue preference and loyalty. The sample was obtained from customers who used a large national Australian Internet service provider. Findings – Local and global CSR issues relevant to the organisation were most preferred, while engagement had the strongest, positive effect on loyalty and was a full mediator of the relationship between CSR issue preference and loyalty. Practical implications – Service organisations should direct their CSR efforts towards addressing social issues that are relevant to their business, and obtaining customer engagement is imperative if they wish to improve loyalty. Social implications – Providing greater clarity on how organisations can improve loyalty from CSR programmes will increase the likelihood of organisations investing their resources towards addressing social issues. Originality/value – Few empirical studies have identified which social issues are the most preferred by customers. The development of a social issue typology and the testing of the relationships between social issue preference, engagement and loyalty provides empirical evidence of how a CSR strategy can improve loyalty.