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- Volume 6, Issue 1, 2010
International Retail and Marketing Review - Volume 6, Issue 1, 2010
Volume 6, Issue 1, 2010
Author M.C. CantSource: International Retail and Marketing Review 6 (2010)More Less
The year 2010 has started off with mixed opinions and expectations from businesses around the globe. The general feeling would seem that the recession is broken and that the road to economic recovery has started. Some major retailers and businesses worldwide have indicated that they expect an increase in sales and profits for 2010.
Strengthening customer loyalty through intimacy and passion : roles of customer-firm affection and customer-staff relationships in servicesSource: International Retail and Marketing Review 6, pp 1 –28 (2010)More Less
This study extends the existing satisfaction-trust-loyalty paradigm to investigate how customers' affectionate ties with firms (customer-firm affection) - in particular, the components of intimacy and passion - affect customer loyalty in services. In a bilevel model, the authors consider customer-staff and customer-firm interactions in parallel. Through a netnography study and survey research in two service contexts, they confirm (1) the salience of intimacy and passion as two underrecognized components of customer-firm affection that influence customer loyalty, (2) the complementary and mediating role of customer-firm affection in strengthening customer loyalty, (3) significant affect transfers from the customer-staff to the customer-firm level, and (4) the dilemma that emerges when customer-staff relationships are too close. The findings provide several implications for researchers and managers regarding how intimacy and passion can enrich customer service interactions and how to manage customer-staff relationships properly.
Source: International Retail and Marketing Review 6, pp 29 –50 (2010)More Less
Recent initiatives demand information that supplements and complements a firm's financial statements to bridge the gap between financial statement capabilities and financial reporting objectives. Such information assists investors' decision making by explaining the main trends and factors that underlie the development, performance, and position of the firm's business. Firms that aim to increase the value of their customer base should report forward-looking customer metrics, because such reports align customer management with corporate goals and investors' perspectives. The authors propose a means to report customer equity that enables investors (as the "consumers" of financial reports) to monitor firms' performance with respect to their customer assets. Furthermore, they develop a specific model for Netflix.com and apply it to quarterly data from September 2001 to September 2006.
Author Hester NienaberSource: International Retail and Marketing Review 6, pp 51 –61 (2010)More Less
The purpose of this paper is to reflect on the status of customer service. The objective is to stimulate debate in this area and to indicate possible future areas for research in connection with customer service implementation. The approach followed is that of a conceptual paper based on a synthesis review. The findings show that, according to theory, customers are central to organisations. However, organisational performance is judged by the economic results the organisation achieves. In essence these statements show that a balanced view should be maintained between the customer and the organisation if long-term prosperityis to be assured. Accordingly, research has shown that those organisations that succeed in balancing stakeholder demands and integrating the right mix of a host of multifaceted variables impacting on customer service do indeed achieve success. However, not all organisations are successful in implementing customer service. Although executives indicate that they are paying increasing attention to their customers, they still do not understand them fully, which limits their success. The fact that executives do not fully understand their customers can be attributed to a number of factors, the most important being the fragmented presentation of customer service, ostensibly to simplify the complexity associated with this concept. A holistic approach is needed that balances stakeholder demands while including the right mix of variables that affect customer service. This holistic approach needs further investigation.
Source: International Retail and Marketing Review 6, pp 62 –81 (2010)More Less
Companies can acquire customers through costly but fast-acting marketing investments or through slower but cheaper word-of-mouth processes. Their long-term success depends critically on the contribution of each acquired customer to overall customer equity. The authors propose and test an empirical model that captures these long-term effects. An application to a Web hosting company reveals that marketing induced customers add more short-term value, but word-of-mouth customers add nearly twice as much longterm value to the firm. The authors illustrate their findings with some dynamic simulations of the long-term impact of different resource allocations for acquisition marketing.
Strategic drivers for retail in SA - considerations in the controllable and uncontrollable landscape of the future : opinionSource: International Retail and Marketing Review 6, pp 82 –84 (2010)More Less
The post 1994 new South Africa established a firm platform for economic growth, the development of a larger and stronger middle class and a higher demand for household goods and services, enabling significant growth opportunities in the retail industry - as reflected in the good business results of most listed retailers on the JSE - since 1994 up to 2008.