The willingness of a customer to pay for a product or service is mathematically captured by a price elasticity model. The model relates the responsiveness of customers to a change in the quoted price. In addition to overall price sensitivity, adverse selection could be observed whereby certain customer segments react differently towards price changes. In this paper the problem of determining op...

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Basic aim of innovating is to provide products and solutions meeting the expectations and needs of their customers and stakeholders. Therefore, customer integration methods provide means to integrate these actors into the innovation process for gathering information, supporting in decision making or creating and elaborating ideas or solutions. One central aspect in this regard is the selection ...

This paper studies the effects of variable selection and class distribution on the performance of specific logit regression (i.e., a primitive classifier system) and artificial neural network (ANN; a relatively more sophisticated classifier system) implementations in a customer relationship management (CRM) setting. Finally, ensemble models are constructed by combining the predictions of multip...

Many firms operate customer communities online. This is motivated by the belief that customers who join the community become more engaged with the firm and/or its products, and as a result, increase their economic activity with the firm. We describe this potential economic benefit as “social dollars.” This paper contributes evidence for the existence and source of social dollars using data from...

In order to be successful in the market it is not sufficient to attract new customers managers must concentrate on retaining existing customers implementing effective policies of customer satisfaction and loyalty. In hotel industry customer satisfaction is largely hooked upon quality of service. A management approach focused on customer satisfaction can improve customer loyalty, thus increasing...

In recent years, marine cultural tourism, an emerging tourism mode, has become more and more popular among tourists, and demonstrates broad market prospects. However, Chinese marine cultural tourism is still in the development and growth stage, and the level of customer satisfaction is uneven. The improvement of the customer satisfaction level is conducive to meeting customers’ demands in marin...

Customer integration has many recognised advantages, but also entails negative side effects that may impair the success of innovative activities. These negative side effects have not yet been sufficiently investigated. Whereas some may occur within the entire early innovation phase, others are likely to affect only few sub-phases. Each sub-phase, defined in a slightly new way as compared with e...