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V. Kumar, R. Venkatesan and B. Rajan

References Donkers, B., Peter C. Verhoef and M.G. de Jong (2007), “Modeling CLV: A Test of Competing Models in the Insurance Industry”, Quantitative Marketing and Economics, Vol. 5, No. 2. (June 2007), pp. 163 - 190. Kumar, V., Denish Shah and Rajkumar Venkatesan (2006), “Managing Retailer Profitability - One Customer at a Time!” Journal of Retailing, 82(4), pp. 277 - 294. Kumar, V., Rajkumar Venkatesan, Tim Bohling and Denise Beckmann (2008), “The Power of CLV: Managing Customer Lifetime Value at IBM

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R. Jen-peng Huang, Genesis Sembiring Depari, Sri Vandayuli Riorini and Pai-Chou Wang

Abstract

This paper identified the relevance of several publication’s characteristics of each publication in reaching more people through organic strategy using Support Vector Machines. Before finding the relevance of several inputs, 10 potential models were examined. Based on the results of 10 models examination, we found that Comments, Likes and Shares have smallest error. However, those variables represent the customer engagements, instead of reaching more people. In the other side, Lifetime total organic reach is the best model compares to other models, therefore lifetime total organic reach was selected as a model. Furthermore, page total likes were found as the most relevance input in reaching more people through organic reach. The next most relevance inputs were followed by Type, month, day and hour of publication. Eventually, we come up with a managerial implication on how to publish a post in order to reach more people through organic reach.

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Thorsten Wiesel, Bernd Skiera and Julián Villanueva

References Berger, P.D. and N.L. Nasr (1998), “Customer Lifetime Value: Marketing Models and Applications,“ Journal of Interactive Marketing, 12, pp. 17 - 30. Blattberg, R.C. and J. Deighton (1996), “Managing Marketing by the Customer Equity Test,“ Harvard Business Review, 74, pp. 136 - 144. Gupta, S. and D.R. Lehmann (2003), “Customer As Assets,“ Journal of Interactive Marketing, 17, pp. 9 - 24. International Accounting Standards Board (2004), “Framework for the Preparation and Presentation of

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Philipp Schmitt, Bernd Skiera and Christophe Van den Bulte

Abstract

Marketers increasingly use word of mouth to promote products or acquire new customers. But is such companystimulated WOM effective? Are customers who are referred by other customers really worth the effort? A recent study clearly says “yes”. In a study of almost 10,000 accounts at a German bank, the referred customers turned out to be 25 % more profi table than customers acquired by other means. Over a 33-month period, they generated higher profi t margins, were more loyal and showed a higher customer lifetime value. The difference in lifetime value between referred and non-referred customers was most pronounced among younger people and among retail (as opposed to private banking) customers. The reward of € 25 per acquired customer clearly paid off. Given the average difference in customer lifetime value of € 40, this amount implied a return on investment (ROI) of roughly 60 % over a six-year period. The encouraging results of this study, however, do not imply that “viral-for-hire” works in each and every case. Referral programs would be most beneficial for products and services that customers might not appreciate immediately. Products and services that imply some kind of risk would also benefit to a more than average degree from referrals because prospects are likely to feel more confi dent when a trusted person has positive experiences. Companies should consider carefully which prospects to target with referral programs and how large a referral fee to provide.

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Karl Farmer and Birgit Bednar-Friedl

-157 Schaefer M. B. (1954) Some aspects of the dynamics of populations important to the management of commercial marine fisheries, Bulletin of Inter-American Tropical Tuna Commission 1, 25-56 Shell K. (1971) Notes on the economics of infinity, Journal of Political Economy 79, 1002-1012 Smith V. L. (1968) Economics of production from natural resources, American Economic Review 58, 409-432 Valente S. (2008) Intergenerational transfers, lifetime welfare, and resource preservation, Environment and Development Economics, 13 (1), 53-78

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Goran Vlašić and Emanuel Tutek

to Customer Centricity”, Journal of Service Research, 9 (2), 113-24. Teece, D. J. (2010): „Business Models, Business Strategy and Innovation“, Long Range Planning, 43 (2-3): 172-194. Venkatesan, Rajkumar and V. Kumar (2004): “A Customer Lifetime Value Framework for Customer Selection and Resource Allocation Strategy,” Journal of Marketing, 68 (4): 106-125. Vlaskovits Patrick (2011): “Henry Ford, innovation, and Thet ‘Faster Horse’ Quote“, Harvard Business Review, August. Vorhies, Douglas W. and Neil A

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Michaela Jánská and Petra Olšová

Science, 21(2), 256–76. Shimp, T.A, Andrews, J.C. (2013). Advertising Promotion and Other Aspects of Integrated Marketing Communications. Mason: South-Western. Smith, P., et al. (1999). Strategic Marketing Communications: New Ways to Build and Integrate Communications. London: Kogan Page Limited. Spilková, J. (2012). Geografie maloobchodu a spotřeby: věda o nakupování. Praha: Karolinum. Varey, R. J. (2002). Marketing communications: Principles a practice. London: Routledge. Venkatesan, R., Kumar, V. (2004). A Customer Lifetime Value

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Dopé M. Adjor and Léleng Kebalo

, Institute for International Economics, Washington DC. 32. Mauro, P. (1998). Corruption and the composition of government expenditure. Journal of Public Economics, 69(2):263-279. 33. Mincer, J. (1991). Education and unemployment. Technical report, NBER. 34. Myrdal, G. (1968). Asian Drama: An Enquiry in the Poverty of Nations, volume 2. The Twentieth Century Fund: New York. 35. Nickell, S. (1979). Education and lifetime patterns of unemployment. Journal of Political Economy, 87(5, Part 2): S117-S131

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Mikołaj Herbst, Paweł Kaczmarczyk and Piotr Wójcik

studies (for literature review see section 2 ), we argue that the spatial mobility of individuals should not be considered in terms of one-off displacements, but rather as a sequence of migration decisions within a certain time period. Moreover, we assume that the propensity to migrate depends on factors relating to a person’s expectations and opportunities (aspirations and capabilities) and, additionally, the structure and importance of these factors can change in the course of a person’s lifetime and education. Along those lines, in this article, we develop an

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Anna Kukla-Gryz and Katarzyna Zagórska

1 Introduction Books, movies, theater performances, and music are commercial, marketed for profit, cultural goods, for which consumers usually need to pay before experiencing them. Special features of such goods and consumer demand for them need to be handled by retailers appropriately. In general, taste for cultural goods changes over a lifetime and depends on the cultural experience the good provides. Individuals who had experienced a cultural good might have developed a perception of quality for similar goods they would potentially consume in the future