Research in Marketing

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    Advancing Communities of Practice: A Collaborative Project between Local Universities, Funding Agencies and Nonprofits to Develop a Senior Subsidized Transportation Plan
    (Journal of the Indiana Academy of Social Sciences, 2018) Ceesay, Atta; Bandyopadhyay, Subir; Szarleta, Ellen
    The growing population of seniors in the United States poses both interesting and challenging transportation policy issues that demand research on alternatives to current transportation systems. The study was motivated by a local foundation’s interest in senior quality of life issues in the communities served. The aim of this study was to assess senior transportation needs and systems as a means to move policy makers and funders closer to providing high-quality senior transportation services. The localized nature of senior transportation needs is best examined as case study. In this article, one mid-sized Indiana community is examined using focus group interviews and individual surveys of senior citizens. In addition, a survey of the literature on senior transportation models provided critical information relevant to formulating best-practice recommendations for community-level senior transportation systems. In order to design effective senior transportation systems it is important to evaluate five critical factors. Finally, The case study presented highlights the importance of multi-sector collaboration in addressing the challenges and opportunities associated with critical senior transportation issues in upcoming decades.
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    Thinking Critically About Critical Thinking: Assessing Critical Thinking of Business Students Using Multiple Measures
    (Journal of Education for Business, 2018) Bandyopadhyay, Subir; Szostek, Jana
    Critical thinking is a skill that potential employers expect all graduates to possess. Hence, most business management programs consider critical thinking as an important student learning goal. Unfortunately, there is ambiguity about how to best assess critical thinking, both as a skill and a learning outcome. We empirically demonstrate how we measure the critical thinking ability of our students in different settings, and their critical thinking ability improves as they progress through our business program (13) (PDF) Thinking critically about critical thinking: Assessing critical thinking of business students using multiple measures. Available from: [accessed May 23 2021].
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    Profitable Retail Customer Identification Based on a Combined Prediction Strategy of Customer Lifetime Value
    (Midwest Social Sciences Journal, 2021) Wei, Xue; Sun, Yinglu; Bandyopadhyay, Subir; Cheng, Dong
    As a fundamental concept of customer relationship management (CRM), customer lifetime value (CLV) serves as a crucial metric to identify profitable retail customers. Various methods are available to predict CLV in different contexts. With the development of consumer "big data," modern statistics and machine learning algorithms have been gradually adopted in CLV modeling. We introduce two machine learning algorithms – the gradient boosting decision tree (GBDT) and the random forest (RF) – in retail customer CLV modeling and compare their predictive performance with two classical models – the Pareto/NBD (HB) and the Pareto/GGG. To ensure CLV prediction and customer identification's robustness, we combined the predictions of the four aforementioned models to determine which customers are the most – or least – profitable. Using 43 weeks of customer transaction data from a large retailer in China, we predict customer value in the future 20 weeks. The results show that GBDT and RF's predictive performance is generally better than that of the Pareto/NBD (HB) and Pareto/GGG models. Since the predictions are not entirely consistent, we combine them to identify the profitable and unprofitable customers
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    Measuring Customer Equity in Noncontractual Settings Using a Diffusion Model: An Empirical Study of Mobile Payments
    (Journal of Theoretical and Applied Electronic Commerce Research, 2020) Wei, Xue; Sun, Yinglu; Bandyopadhyay, Subir; Cheng, Dong
    Customers are important intangible assets of firms. Customer equity (CE) and customer equity sustainability ratio (CESR) cannot only provide a crucial basis for measuring the growth potential of firms but also provide managers a reference standard to allocate the marketing resource. This empirical study discussed the CE measurement of a mobile payments aggregator. With the rapid development of mobile payment in China, it is very meaningful to calculate the CE of these aggregators as an emerging business pattern because calculating CE cannot only help the mobile payments aggregator evaluate its future business development but also help it to provide value-added services and generate service fee from its clients, i.e., the retailers. The main purpose of this paper is to calculate CE of a mobile payments aggregator generated from a specific retailer from the perspective of technology diffusion. Based on the Bass model and Rogers’ theory of innovation diffusion, we calculated CE and CESR for five segments, namely innovators, early adopters, early majorities, late majorities, and laggards. The results show that it is the early adopters and the early majorities who generate most of the profit and it is also these two segments that have the greatest growth potential in the future.
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    A Critical Review of Pricing Strategies for Online Business Models
    (Quarterly Journal of Electronic Commerce, 2001) Bandyopadhyay, Subir; Lin, Guangbo; Zhang, Yan
    As the Internet grows rapidly, managers will face new challenges and opportunities in developing innovative marketing strategies to sell their products. What kind of pricing strategy will adapt to this dynamic market? How do online companies attract more consumers through new pricing strategies? These are the typical questions that an online business manager has to address. Most of the online companies go beyond simply presenting products and services on the Internet. They create unique ways of interacting with and selling to online customers. For example, created a simple concept: volume-buying, which links small buyers into groups to obtain volume discounts. Similarly, allows buyers to propose prices of airline tickets. We believe that a satisfactory buying experience will be one of the key factors for online shoppers in making purchasing decisions on the Internet. We know that online shoppers are more and more concerned with such important issues as security, service, and convenience. Hence, marketing managers must not only think about providing the best prices, they must also create a satisfactory buying experience for online shoppers. In this paper, we present seven business models in the cyber market. The common link between these eight models is that all of them employ unique pricing strategies that are uncommon in traditional business models. In this paper, we try to explore how various business models use different pricing strategies to affect consumers’ decision-making. This paper will help e-business executives to understand how online pricing strategy influences the success or failure of online business models. We start with a brief introduction of the major online pricing strategies. We then present a general description of each pricing strategy and explain how it works. Next we identify the advantages and disadvantages of each strategy. Finally, based on this analysis, we predict trends in online pricing strategies in the future.
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    Survival of the Fittest: Developing a Cost-Effective Branding Strategy for Nonprofit Organization to Survive and Thrive in a Competitive Environment
    (South Shore Journal, 2013) Bandyopadhyay, Subir; Dayton, Charles
    Most companies appreciate the value of a strong brand. It is well-known in marketing that approximately 3 in 4 consumer purchases are emotionally-driven and only 1 in 4 is made out of necessity. Branding helps companies make an emotional bonding with target consumers. Accordingly, companies typically commit substantial resources to develop strong brand image for their products. Unfortunately, nonprofit organizations do not enjoy the same level of resources to develop and implement a branding strategy. It is, however, possible today to develop, with the help of digital communication tools such as social media, cost-efficient yet effective branding strategies for nonprofit organizations.
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    A Critical Review of Online Affiliate Models
    (Journal of Academy of Business and Economics, 2009) Bandyopadhyay, Subir; Wolfe, Julie; Kini, Ranjan
    There are a variety of affiliate models currently in place on the Internet today. The most popular models include percentage of sales, flat referral rate, pay per lead, pay per email, cost per click, and cost per view. Almost every website offers one form or another of these affiliate models. Many recent websites offer a combination of these models. While affiliates offer tremendous promise in generating traffic and sales for the merchant, it must evaluate each potential relationship carefully before embarking on it. We outline a set of critical steps a merchant should take to ensure a perfect match.
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    Targeting the New Chinese Woman? Marketing Implications for Multinational Corporations
    (Journal of Segmentation in Marketing, 2000) Bandyopadhyay, Subir
    Modern Chinese women are joining the workforce in larger numbers than ever before. With more disposable income and better exposure to western media, Chinese women have become the prime targets of the global marketers of consumer products such as cosmetics. However, the secret of success in this market lies in the deep understanding of modern Chinese women consumers and how their consumption behavior is being shaped by the changing cultural and lifestyle patterns. Although a few researchers have studied the behavior of Chinese consumers as whole, nobody has systematically studied the characteristics of the Chinese women consumers.
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    Investigating the Factors Influencing Consumer Eating-Out Habits
    (Journal of Academy of Business and Economics, 2006) Pillai, Vijayan; Bandyopadhyay, Subir
    Americans are eating out in greater numbers and in greater frequency than ever before. This phenomenon may not pose any major health threat as long as diners make healthy eating choices. Unfortunately, the popularity of fast foods, which typically contain excessive fat and calories, poses a tremendous threat to public health because of the well-known detrimental effects of excessive intake of fat, cholesterol, calories and salt on public health. Therefore, it is critical to public policy makers as well as to health care professionals to know what factors influence the food choices of restaurant diners. Earlier studies indicated that consumer eating habits may vary according to the demographic characteristics (such as income, age and occupation), and psychographic characteristics (such as lifestyle and personality traits). However, these results are for Americans in general, and may not be valid for restaurant diners specifically. In this study, we explore the influence of these determinants on consumer preference of food (such as red meat, strictly vegetables, and everything in between) when they eat out. Our results support the hypothesis that consumers with different eating-out habits indeed vary according to their demographic and psychographic characteristics. Our research also found that a consumer’s profession (white-collar job vs. blue-collar job) has a moderate influence on the decision to become vegetarian. Also those who are health conscious are more likely to become vegetarian. Finally, we outline the significance of our results to marketers, and restaurant owners.
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    A Critical Evaluation of Online Retail Business in North America and India
    (2018) Bandyopadhyay, Subir; Singh, Harvinder; Fry, Andrew
    Over the past few years, online retail has grown from something convenient to use instead of the traditional retail business, to the way we now do business, and will only continue to grow and grow until the point where traditional retail business is no longer used. Since the inception of Amazon, traditional retail business alike have struggle continuously. While all traditional retail business are in danger, small businesses are especially in danger of being put out of business due to the mass increase in online retail. Yet, far too many small business owners neglect how important online marketing is for their business success. Among the reasons this seems to be is time. Another money. And yet another is that they don't care. The reality is, however, customers do care and in order to be relevant in today's crowded marketplace, being online is a must. Ten years ago it may have been a choice to jump on the online bandwagon, but now it's an absolute must to survive and thrive as a small business. This is why it’s so important for these traditional businesses to study online retail thoroughly, and begin the step to transition over to online retail. That, or your company is most likely going to fail.
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    Investigating Quality Perceptions of International Services by Chinese Consumers
    (2016) Bandyopadhyay, Subir
    Consumers are known to use the country-of-origin (COO) of a product to infer the quality of products. Products of technologically advanced countries such as the US and Germany are known to enjoy positive country-of-origin effects. Conversely, products made in the developing countries typically suffer from negative COO effect. While this influence of COO is widely recognized for products, the same cannot be said about services. Only a handful of studies have empirically investigated the relationship between COO and perceived service quality. Additionally, most of these studies in this research paradigm, are undertaken in developed markets; hence their findings cannot be extrapolated to the newly industrialized countries (NIC) that offer tremendous market potential for global services. It has, therefore, become imperative for multinational companies to understand if and how consumers in the major NICs use COO and other cues to infer service quality. This insight is critical in developing effective pricing and promotion strategies for these markets. Using data collected from consumers in Beijing in the Peoples Republic of China, we demonstrate significant COO effect on two service categories: hotels and restaurants. We also highlight how these research findings will help managerial decisions about pricing and promotion.