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The study of customer experience (CX) has become a prominent topic in marketing research lately because of the evolution of the customer/company relationship. The total number of touch points where this interaction can take place has increased significantly due to the total number of channels...
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While single-brand reward programs encourage customers to remain loyal to that one brand, coalition programs encourage customers to be “promiscuous” by offering points redeemable across partner stores. Despite the benefits of this “open relationship” with customers, store managers face...
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Spatial models in retailing allow for correlations among purchase decisions from consumers within predefined geographic areas. The purpose of these models is to control for unobserved demand side effects at the regional-level (e.g., a neighborhood), but they typically ignore synergies among...
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We develop a new method to sample from posterior distributions in hierarchical models without using Markov chain Monte Carlo. This method, which is a variant of importance sampling ideas, is generally applicable to high-dimensional models involving large data sets. Samples are independent, so...
Persistent link: https://www.econbiz.de/10010195102
Firms use aggregate data from data brokers (e.g., Acxiom, Experian) and external data sources (e.g., Census) to infer the likely characteristics of consumers and thus better predict consumers' profiles and needs, unobtrusively. We demonstrate that the simple count method most commonly used in...
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We discuss our experiences teaching Bayesian Statistics to students in doctoral programs in business. These students often have weak backgrounds in mathematical statistics and a predisposition against likelihood-based methods stemming from prior exposure to econometrics. This can be overcome by...
Persistent link: https://www.econbiz.de/10014047822