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Implementing profitability through a customer lifetime value management framework

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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Weibull Decision Support Systems in Maintenance

optimization using initial reliability estimates. Journal of Green Engineering. 3, 325-345. Aboura, K., & Robinson, N. I. (2013). Optimal adaptive solutions for maintenance optimization decision support systems. In Proceedings of the 25th International Conference on Systems Research, Informatics and Cybernetics, Advances in Simulation-Based Decision Support and Business Intelligence, 3, (26-30), Baden-Baden, Germany. Bousquet, N. (2006). A Bayesian analysis of industrial lifetime data with Weibull distributions. Institut National de Recherche

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Analysis of Online Marketing Management in Czech Republic

Journal of Business and Management, 8(7), 106-115, http://dx.doi.org/10.5539/ijbm.v8n7p106 Jasek, P. (2014). Analyzing user activity based on RFM models complemented with website visits and social network interactions. In P. Doucek, G. Chroust & V. Oskrdal (Eds.), 22nd Interdisciplinary Information Management Talks, (pp. 145-152). Linz: Trauner. Jasek, P., & Vrana, L. (2014). Managerial Impacts of Different Computation Models for Customer Lifetime Value for an E-commerce Company. In T. Loster & T. Pavelka (Eds.), 8th International Days of

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Green marketing today – a mix of trust, consumer participation and life cycle thinking

: industrial product lifetimes and restoring trust through consumer information CCMI/112, “Product Lifetimes and Consumer Informati” European Economic and Social Committee Brussels, 17 October 2013 http://www.eesc.europa.eu/?i=portal.en.ccmi-opinions.26788 (13.08.2016 – access date). 36. Lubin D.A. & Esty D.C. (2010), The sustainability imperative - Lessons for leaders from previous game-changing megatrends, Harvard Business Review, May/2010, pp. 43-50. 37. MEDDE (2015), http://www.developpement-durable.gouv.fr/Nationalexperimentation-for-the.html (15

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Demand and Characteristics of Customers of Reusable Products in Slovenia

metals embedded in ICT and consumer equipment. Resources, Conservation and Recycling, 98, 9–18. https://doi.org/10.1016/j.resconrec.2015.03.003 Cox, J., Griffith, S., Giorgi, S., & King, G. (2013). Consumer understanding of product lifetimes. Resources, Conservation and Recycling, 79, 21–29. https://doi.org/10.1016/j.resconrec.2013.05.003 Dindarian, A., Gibson, A. A. P., & Quariguasi-Frota-Neto, J. (2012). Electronic product returns and potential reuse opportunities: A microwave case study in the United Kingdom. Journal of Cleaner Production, 32, 22

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Life Cycle of a Military Product

Abstract

Romania’s membership of the select group of states belonging to the North Atlantic Treaty Organization brings, in addition to the expected security benefits and assurances and commitments and obligations that we have to assume. The participation of politicians, militaries and Romanian experts in the decision-making within the specialized committees of the NATO structures is an extremely important element for the assertion of Romania as a security guarantor in the area, a hypostasis that was only a vision a few years ago. This role of our country must be supported by strong and powerful military capabilities, capabilities that are hard to reach for many of the countries in Eastern Europe. The economically advantageous and technologically viable solution for a period of time is to acquire advanced military technical systems that are equipped with the great economic powers of NATO, systems used and verified by these armies, revitalized and upgraded, a second life goal.

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Do Referral Programs Increase Profits

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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My customers are better than yours! On Reporting Customer Equity

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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A Simple Discrete Approximation for the Renewal Function

Abstract

Background: The renewal function is widely useful in the areas of reliability, maintenance and spare component inventory planning. Its calculation relies on the type of the probability density function of component failure times which can be, regarding the region of the component lifetime, modelled either by the exponential or by one of the peak-shaped density functions. For most peak-shaped distribution families the closed form of the renewal function is not available. Many approximate solutions can be found in the literature, but calculations are often tedious. Simple formulas are usually obtained for a limited range of functions only. Objectives: We propose a new approach for evaluation of the renewal function by the use of a simple discrete approximation method, applicable to any probability density function. Methods/Approach: The approximation is based on the well known renewal equation. Results: The usefulness is proved through some numerical results using the normal, lognormal, Weibull and gamma density functions. The accuracy is analysed using the normal density function. Conclusions: The approximation proposed enables simple and fairly accurate calculation of the renewal function irrespective of the type of the probability density function. It is especially applicable to the peak-shaped density functions when the analytical solution hardly ever exists.

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A Revision on Cost Elements of the EOQ Model

optimal inventory policies for the economic order quantity (EOQ) model under conditions of two levels of trade credit and two warehouses in a supply chain system. African Journal of Business Management, 6 (26), 7669. Muhlemann, A. P., & Valtis-Spanopoulos, N. (1980). A variable holding cost rate EOQ model. European Journal of Operational Research, 4 (2), 132. Olsson, F. (2014). Analysis of inventory policies for perishable items with fixed leadtimes and lifetimes. Annals of Operations Research, 217 (1), 399-423. Olsson, F. (2014). Analysis of

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