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PREDICTING THE SIZE OF THE COMPANY-CUSTOMER BASE BASED ON THE MARKOV CHAINS
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PREDICTING THE SIZE OF THE COMPANY-CUSTOMER BASE BASED ON THE MARKOV CHAINS
Annotation
PII
S042473880000616-6-1
Publication type
Article
Status
Published
Authors
Anna Andreeva  Tatyana Bogdanova
Edition
Volume 52 Issue 1
Pages
79-94
Abstract
The article represents the information and logical complex model to manage the company’s customer base in order to calculate the index of long-term value of the client. In contrast to the previous issues this model takes into account the peculiarities of consumer behavior and sociodemographic characteristics of the client groups, and the movement of customers within the customer base is represented as a Markov chain. Developed complex dynamic model to manage the company’s customer base makes possible to forecast the cluster frequency and the client base at all on any period, to analyze the population-change-dynamics of client cluster and to highlight the most important stages in the formation and development of the customer base. On each stage highlighted groups of clients are estimated according to future company’s profit and potential for cross selling of products/services. The estimates allow to calculate the budget for marketing activities on retention of given profit level and to compose the most effective plan of address-directed marketing activities.
Keywords
management of customer base of the company, retail trade, group of clients, customer loyalty, buying behavior, Markov chain, dynamic model, long-term value of the customer base
Date of publication
01.01.2016
Number of purchasers
1
Views
809
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0.0 (0 votes)
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