Current Issue : April - June Volume : 2021 Issue Number : 2 Articles : 5 Articles
It is very important for a company to determine spending for acquisition and retention of customers which affect the Customer lifetime value of the company. In this paper, we formulate the Customer lifetime value model as an optimal control problem. The obtained problem is to find an acquisition policy which maximizes the present value of all future profits generated from a customer. Here the state variable is the average margin for each customer about how much each customer contributes to the company and the control variable is the cost of acquisition. We use the maximum principle for optimality to solve the problem, estimate some parameters of the problem using statistical data for Mobile service sector of Mongolia and calculate the optimal Customer lifetime values of the sector for some values of parameters....
A grocery shop is a retailing shop where a general range freshly packed food products are available. On an everyday life people have to use a grocery shop to get their livelihood items. To buy the necessary products people visit a grocery shop, collect the products from different shelves and then pay for the item and proceed. But many times this process does not seem very convenient. People nowadays are very busy. In their busy schedule they always forget to make time for grocery shopping. Some people try to avoid it because of traffic jam, just to avoid gathering of people. Moreover, in this global COVID-19 pandemic it can turn into a life threat for a person or family as well as a nation. Considering all the issues and reasons behind the issues we think online grocery store can be the best solution to all the problems. This paper presents the development of web-based online grocery store where people can do shopping using a computer or a smart phone sitting at their home very easily. Though online shopping has been known as a rapidly growing business, and although online grocery shopping has not followed these same growth patterns in the past, it is now being recognized for its potential. There will be an admin panel and a user panel. Users have to use a Gmail to log in and create an account to do shopping. Admin always use their Gmail to maintain the product availability, the website, the customers and more. This system is user friendly and it can make people life very easy, safe and time-saving specially in the e-commerce demanding period of this COVID-19 crisis....
Since tangible assets of companies are becoming increasingly insignificant, emphasis should rather be placed on human capital as an essential source of competitive edge. This paper, accordingly, pursues the purpose to shed light on the major demands that the Millenials place on their prospective employers. In consequence, the work aims to identify attractiveness factors that German retailers should particularly promote in order to succeed in the war for talents and attract the most promising candidates among the German Gen Y. This work is based on a mixed-methods approach. First, interviews with German retail experts as well as generational keynote speakers were conducted in order to obtain a deep understanding and assessment of the German retail landscape from a professional perspective. The insights gained were subsequently used to design a questionnaire, which distribution led to a final sample of 216 useable responses by Millenials. Furthermore, the data obtained by interviewing experts and the survey was subsequently compared in order to evaluate to what extent the expectations of the Millenials correspond to the experts’ assessment. This study reveals Millenials to be driven by the need for growth, such as wide offers of development opportunities or scope for decision when choosing an employer. Among the relatedness needs, a harmonious working environment is particularly important, whereas a weekend off ranks first among the existential needs. Moreover, male Millenials consider Media Markt being the most popular employer in the German retail sector, while dm is preferred from a female perspective. Overall, employers of the German retail sector provide the majority of factors required by the Millenials, yet are only considered the 4th most popular industry behind the automotive, IT, art and entertainment industries. Our findings provide valuable practical implications as the research results might serve companies to build up a target group specific employer brand. Marketing strategies can be aligned with the identified attractiveness factors to efficiently and cost-effectively attract and bind Millenials to the company. Customized recruiting campaigns enhance the appeal as well as the attractiveness of an employer driving the likelihood of obtaining the strived status: Employer of Choice. To the best of the author’s knowledge, no study has yet dealt specifically with the attractiveness factors demanded by the Millenials in the context of the German retail sector as well as their most aspired employers in this industry. Furthermore, the attractiveness factors identified in the literature were embedded in Aldefer’s ERG theory. This work also offers a bilateral perspective through the widely conducted survey carried out among Millenials, which was additionally expanded through the lens of experts....
Shopping activities in the 21st century are taking a social dimension rather than mere commercial activities. This is evident in the importance of consumer attachment to shopping and choice of shopping place, which necessitated the increase in the number of megamalls in many cities globally, including Nigeria. This study examined the shopaholic phenomenon, choice of shopping place, and the development of megamalls in Ibadan, Nigeria. The study was empirical using both quantitative and qualitative methods for data collection. Two hundred sixteen copies of the questionnaire were administered to mall customers, while an In-depth interview was conducted for six mall operators cut across malls in Ibadan. Statistical Package for Social Sciences using frequency tables, percentages, and histogram charts was used for analysis. The study revealed that most respondents choose Megamall as their shopping place, and there is a connection between the shopaholic phenomenon, choice of shopping place, and the development of megamalls. The conducive and serene environment which megamalls portray has wooed many customers in the urban areas to choose it as their priority as it concerns shopping, and that has gone a long way to enhance the development and sustainability of megamalls in Nigeria. Most customers patronize malls because of their innate love of shopping, ostentatious life, and showy life to impress friends and well-wishers. The glamour and fascination that megamalls display cannot be gotten in retail shops or open markets. Customers are delighted with their experiences in the megamalls that account for their continued patronage of the megamalls over other shopping alternatives....
This study proposed a technology risk model for assessing environmentally- friendly vehicles. It analyzes risk factors to explore what may hinder vehicle purchases and subsequent market diffusion. A preliminary study has been conducted to test the model’s validity and future research is suggested to examine the factors for encouraging environmentally-friendly vehicle purchases such as hydrogen-based automobiles....
Loading....