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Now showing 1 - 7 of 7
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    PublicationOpen Access
    A longitudinal analysis of customer satisfaction and share of wallet: investigating the moderating effect of customer characteristics
    (American Marketing Association (AMA), 2007) Cooil, B.; Keiningham, T. L.; Hsu, M.; Department of Business Administration; Aksoy, Lerzan; Faculty Member; Department of Business Administration; College of Administrative Sciences and Economics
    Customer loyalty is an important strategic objective for all managers. Research has investigated the relationship between custom̀er satisfaction and loyalty in various contexts. However, these predominantly cross-sectional studies have focused on customer retention as the primary measure of loyalty. There has been little investigation into the impact on share of wallet. Using data from the Canadian banking industry, this research aims to (1) provide the first longitudinal examination of the impact of changes in customer satisfaction on changes in share of wallet and (2) determine the moderating effects of customer age, income, education, expertise, and length of relationship. Data from 4319 households using 12,249 observations over a five-year period indicate a positive relationship between changes in satisfaction and share of wallet. In particular, the initial satisfaction level and the conditional percentile of change in satisfaction significantly correspond to changes in share of wallet. Two variables, income and length of the relationship, negatively moderate this relationship. Other demographic and situational characteristics have no impact.
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    PublicationOpen Access
    A longitudinal examination of net promoter and firm revenue growth
    (American Marketing Association (AMA), 2007) Keiningham, Timothy L.; Cooil, Bruce; Andreassen, Tor Wallin; Department of Business Administration; Aksoy, Lerzan; Faculty Member; Department of Business Administration; College of Administrative Sciences and Economics
    Managers have widely embraced and adopted the Net Promoter metric, which noted loyalty consultant Frederick Reichheld advocates as the single most reliable indicator of firm growth compared with other loyalty metrics, such as customer satisfaction and retention. Recently, however, there has been considerable debate about whether this metric is truly superior. This article (1) employs longitudinal data from 21 firms and 15,500-plus interviews from the Norwegian Customer Satisfaction Barometer to replicate the analyses used in Net Promoter research and (2) compares Reichheld and colleagues' findings with the American Customer Satisfaction Index. Using industries Reichheld cites as exemplars of Net Promoter, the research fails to replicate his assertions regarding the "clear superiority" of Net Promoter compared with other measures in those industries.
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    PublicationOpen Access
    Captive but mobile: privacy concerns and remedies for the mobile environment
    (Taylor _ Francis, 2013) Popescu, Mihaela; Department of Media and Visual Arts; Baruh, Lemi; Faculty Member; Department of Media and Visual Arts; College of Social Sciences and Humanities; 36113
    We use the legal framework of captive audience to examine the FTC’s 2012 privacy guidelines as applied to mobile marketing. We define captive audiences as audiences without functional opt-out mechanisms to avoid situations of coercive communication. By analyzing the current mobile marketing ecosystem, we show that the FTC’s privacy guidelines inspired by the Canadian “privacy by design” paradigm fall short of protecting consumers against invasive mobile marketing in at least three respects: (a) the guidelines ignore how, in the context of data monopolies, the combination of location and personal history data threatens autonomy of choice; (b) the guidelines focus exclusively on user control over data sharing, while ignoring control over communicative interaction; (c) the reliance on market mechanisms to produce improved privacy policies may actually increase opt-out costs for consumers. We conclude by discussing two concrete proposals for improvement: a “home mode” for mobile privacy and target-specific privacy contract negotiation.
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    PublicationOpen Access
    Looming losses in future time perception
    (American Marketing Association (AMA), 2010) LeBoeuf, Robyn A.; Department of Business Administration; Department of Business Administration; Bilgin, Baler; Faculty Member; Department of Business Administration; College of Administrative Sciences and Economics; 108641
    It is proposed that a future time interval's perceived length will be affected by whether the interval ends with a gain or loss. Confirming this, several experiments indicate that consumers perceive intervals ending with losses as shorter than equivalent intervals ending with gains. The authors explore the mechanisms underlying these effects, and they identify several parallels between the current effects and loss aversion. The authors further show that these changes in time perception influence consumption decisions, and they consider the implications of the findings for theories of time perception and intertemporal choice.
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    PublicationMetadata only
    Marketing strategies for entry deterrence and managerial compensation: a new perspective based on cognitive hierarchy
    (İsarder, 2018) Chen, Yuxin; Demir, Kıvılcım Döğerlioğlu; Turut, Özge; Department of Business Administration; Uysal, Ezgi Akpınar; Faculty Member; Department of Business Administration; College of Administrative Sciences and Economics; 122585
    Firms in Turkey have started to practice giving stock options as part of managers compensation. However, in the literature it is not clear that giving stock options would motivate managers to make the right strategic decisions. It is well documented that managers vary in their ability of thinking strategically, and they may not be able to correctly conjecture the actions and beliefs of competitors as assumed in the standard game theory. Given this heterogeneity in managers’ strategic thinking capability and the importance of managerial compensation, it is investigated when it is profitable to compensate managers by giving stock options. The context is chosen in which firms do not have the access to control managers directly, but can motivate them to develop the right marketing strategies to deter entry. Based on Cognitive Hierarchy model stock options are found that they should be used only if both the manager and the rival are strategic or the manager is naive, but not the rival. / Üst düzey yöneticilere sağlanan menfaatlerin önemli bir unsuru olan hisse teşvik ödülleri ülkemizde de yaygınlaşmaya başlamıştır. Ancak, literatürde hisse teşvik ödüllerinin yöneticiyi doğru motive edeceği ve şirket için doğru stratejik kararlar vermesini sağlayacağına dair net bir görüş bulunmamaktadır. Literatürde gösterilmiştir ki, yöneticiler stratejik düşünme yetenekleri açısından farklılık göstermektedirler ve bu yüzden rakip firmaların düşünce ve hareketlerini standart oyun teorisinin öngördüğü şekilde doğru tahmin edemeyebilirler. Yöneticilerin stratejik düşünme kabiliyetlerinde heterojen yapıyı ve hisse teşvik ödüllerinin yaygın bir şekilde kullanıldığını göz önüne alarak, bu makalede hangi koşullar altında şirketlerin hisse teşvik ödüllerini kullanmalarının doğru olacağı araştırılmaktadır. Bunun için şirketin yöneticisinin hareketlerini doğrudan kontrol edemediği durumlarda, yöneticiye sağlayacağı finansal teşvikle yöneticinin rakiplerin piyasaya girmesini caydıracak pazarlama stratejileri geliştirmesini sağlaması konusu seçilmiştir. Araştırmalar Bilişsel Hiyerarşi modelini baz alarak geliştirilen matematiksel modelle yapılmıştır. Sonuçlara göre, teşvik olarak hisse teşvik ödülleri yönetici ve rakip firma tamamen stratejikse ya da yönetici naif ancak rakip değilse verilmelidir. Eğer rakip firma naifse kâr bazlı prim verilmelidir.
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    PublicationOpen Access
    Positioning of store brands
    (The Institute for Operations Research and the Management Sciences (INFORMS), 2002) Hoch, Stephen J.; Raju, Jagmohan S.; Department of Business Administration; Sayman, Serdar; Faculty Member; Department of Business Administration; College of Administrative Sciences and Economics; 112222
    We examine the retailer’s store brand positioning problem. Our game-theoretic model helps us identify a set of conditions under which the optimal strategy for the retailer is to position the store brand as close as possible to the stronger national brand. In three empirical studies, we examined whether market data are consistent with some of the implications of our model. In the first study, using observational data from two US supermarket chains, we found that store brands are more likely to target stronger national brands. Our second study estimated cross-price effects in 19 product categories, and found that only in categories with high-quality store brands, store brand and the leading national brand compete more intensely with each other than with the secondary national brand. In a third product perception study, we found that although explicit targeting by store brands influenced consumer perceptions of physical similarity, it had no influence on consumers’ perceptions of overall or product quality similarity. While it appears that retailers do follow a positioning strategy consistent with our model, it changes buying behavior in the intended fashion only if the store brand offers quality comparable to the leading national brands.
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    PublicationOpen Access
    The long-term stock market valuation of customer satisfaction
    (American Marketing Association (AMA), 2008) Cooil B., Groening C., Keiningham T. L.; Yalçın, Atakan; Department of Business Administration; Aksoy, Lerzan; Faculty Member; Department of Business Administration; College of Administrative Sciences and Economics
    Firm valuation has been an important domain of interest for finance. However, most financial models do not include customer-related metrics in this process. Studies in marketing have found that one particular customer metric, customer satisfaction, improves the ability to predict future cash flows, long-term financial measures, stock performance, and shareholder value. However, most of these studies predominantly employ models that are not directly used in finance practice. This article extends existing literature by examining the impact of customer satisfaction on firm valuation by employing multiples and risk-adjusted abnormal return models borrowed directly from the practice of finance. Data include 3600 firm-quarter observations from the American Customer Satisfaction Index, COMPUSTAT, and Center for Research in Securities Prices databases from 1996 to 2006. The results indicate that a portfolio of stocks consisting of firms with high levels and positive changes in customer satisfaction will outperform the other three possible portfolio combinations (low levels and negative changes, low levels and positive changes, and high levels and negative changes in customer satisfaction) along with Standard & Poor's 500. Initially, the stock market undervalues positive satisfaction information, but the market adjusts in the long run.