MODELING CUSTOMER RELATIONSHIPS AS MARKOV CHAINS Phillip E. Pfeifer Robert L. Carraway f INTRODUCTION The lifetime value of a customer is an important and useful concept in interactive marketing. Courtheaux (1986) illustrates its usefulness for a number of managerial problems—the most obvious if not the most important being the budgeting of marketing expenditures for customer acquisition. It can also be used to help allocate spending across media (mail vs. telephone vs. television)‚ vehicles
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1. What are Crocs core competencies? * Highly flexible supply chain * Innovative and proprietary material: crosslite * Innovative product development * Efficient manufacturing processes that allows the company to produce more than 250 styles of shoes * Global Marketing & Distribution; the company is selling its products in 125 countries 2. How do they exploit these competencies in the future? Consider the following alternatives: a. Further integration into
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Zara is the flagship chain store of Inditex Group owned by Spanish tycoon Amancio Ortega. Zara is the most internationalized of Inditex’s chains. The group is headquartered in A Coruna‚ Spain‚ where the first Zara store opened in 1975. As of August 2009‚ there are more than 1‚500 Zara stores around the world. It is claimed that Zara needs just two weeks to develop a new product and get it to stores‚ compared with a six-month industry average‚ and launches around 10‚000 new designs each year. Zara
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Supply Chain Management for Effective People Management: Issues and Challenges Indranil Mutsuddi* Managing people in the highly volatile and turbulent business environment has always been an issue of concern for Human Resource (HR) heads and industry captains. This has particularly become challenging with organizations facing high attrition rates‚ on the one side‚ and businesses demanding talent supplies having newer and more cross-functional skill and competency sets to meet the changing needs
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A. Analyze whether a Keiretsu network‚ a virtual company‚ a vertical integration‚ or a different supply chain strategy should be adopted. A Keiretsu network is a network of businesses that own stakes in one another as a means of mutual security‚ especially in Japan‚ and usually including large manufacturers and their suppliers of raw materials and components. There are two types of keiretsu: vertical and horizontal. Vertical keiretsu illustrates the organization and relationships within a company
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The Benetton supply chain One of the best known examples of how an organization can use its supply chain to achieve a competitive advantage is the Benetton Group. Founded by the Benetton family in the 1960s‚ the company is now one of the largest garment retailers‚ with stores which bear its name located in almost all parts of the world. Part of the reason for its success has been the way it has organized both the supply side and the demand side of its supply chain. Although Benetton does manufacture
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importance of informing my chain of command on issues that affect myself as well as my family. I will consider the pros and cons of using my chain of command. This essay will also convey a plan of action to help insure this conduct of failing to inform my chain of command will cease. “You have to learn the rules of the game ‚ and then you have to play better than anyone else.” -Albert Einstein. (thinkexist) It is very important for every soldier to inform their chain of command of affairs‚ problems
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THE VALUE CHAIN In addition to studying the external environment characterized by threats and opportunities‚ it is also essential to analyze the internal environment of the company‚ to identified the types of activities that form the production process. An analysis tool that helps identify what are the key activities of the production process of Ryanair and which are auxiliary or complementary is the analysis of the value chain (value chain). The value chain‚ in fact‚ lets to consider the enterprise
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SUPPLY CHAIN MANAGEMENT: PUSH AND PULL BASED CHAINS INTRODUCTION Fierce competition in today’s global markets‚ the introduction of products with shorter life cycles‚ and the heightened expectations of customers have forced business enterprises to invest in‚ and focus attention on‚ their supply chains. This‚ together with continuing advances in communications and transportation technologies (e.g.‚ mobile communication‚ Internet‚ and overnight delivery)‚ has motivated the continuous evolution of
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The value chain concept‚ which was developed and popularized in 1985 by Michael Porter‚ increased the value of production and service and led to a decrease in costs in the business and industry sector. At this present time‚ global business competition is rising leading to more interest in value chains in businesses and industries because this concept is the apparatus of management in order to analyze positive strategic planning. The most important concept can apply to the supply chain and the distribution
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