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Customer cross‐selling model based on counter propagation network

Customer cross‐selling model based on counter propagation network Purpose – With increasing market competition, enterprises have come to realize that it is easier to maximize profit by cross‐selling services to existing customers than to attract new customers. It can often be observed that consumers sequentially purchase multiple products and services from the same provider. Accordingly, this commonly observed situation offers huge opportunities for companies carrying multiple products and services to “cross‐sell” other products and services to their existing customer group. The purpose of this paper is to find out a convenient way to identify the customers with cross‐selling potential. Design/methodology/approach – In this paper, the authors investigate the customer demographic data, including age, income, gender and educational level, and study the relation between the variables and the customers' cross‐selling potential based on counter propagation network (CPN). Findings – The authors set up a cross‐selling model successfully. After inputting age, gender, education level, and income into the input layer of the model, the model will show us which products the potential customers should buy in the output layer. This process can provide useful information for the enterprise to persuade the customers into buying the unpurchased products and provide the products to the right customer. Originality/value – In this paper, the authors set up the cross‐selling model based on the CPN. The model can predict the customer cross‐selling potential successfully according to the customer demography data – age, income, gender, and educational level. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Direct Marketing: An International Journal Emerald Publishing

Customer cross‐selling model based on counter propagation network

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Publisher
Emerald Publishing
Copyright
Copyright © 2008 Emerald Group Publishing Limited. All rights reserved.
ISSN
1750-5933
DOI
10.1108/17505930810863626
Publisher site
See Article on Publisher Site

Abstract

Purpose – With increasing market competition, enterprises have come to realize that it is easier to maximize profit by cross‐selling services to existing customers than to attract new customers. It can often be observed that consumers sequentially purchase multiple products and services from the same provider. Accordingly, this commonly observed situation offers huge opportunities for companies carrying multiple products and services to “cross‐sell” other products and services to their existing customer group. The purpose of this paper is to find out a convenient way to identify the customers with cross‐selling potential. Design/methodology/approach – In this paper, the authors investigate the customer demographic data, including age, income, gender and educational level, and study the relation between the variables and the customers' cross‐selling potential based on counter propagation network (CPN). Findings – The authors set up a cross‐selling model successfully. After inputting age, gender, education level, and income into the input layer of the model, the model will show us which products the potential customers should buy in the output layer. This process can provide useful information for the enterprise to persuade the customers into buying the unpurchased products and provide the products to the right customer. Originality/value – In this paper, the authors set up the cross‐selling model based on the CPN. The model can predict the customer cross‐selling potential successfully according to the customer demography data – age, income, gender, and educational level.

Journal

Direct Marketing: An International JournalEmerald Publishing

Published: Mar 28, 2008

Keywords: Demographics; Selling methods; Customer orientation; Direct marketing

References