• Journal of the Korean Operations Research and Management Science Society
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• v.30 no.2
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• pp.13-27
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• 2005

This research deals with the issues concerning how consumers change their purchase behavior if one of brands in the market prolongs its coupon duration while there are more than two brands. If they extend coupon duration of a brand, consumers increase Purchase of the brand with coupons. But they increase or reduce purchase of competing brands with coupons depending on the condition of the market. increase of purchase of the brand with prolonged coupons stems from reducing purchase of the consumer's most favorite brands with regular price and their less preferred brands with coupons. On the other hand, consumers who prefer the brand at in-between level tend to reduce purchase of competing brands with coupons under certain conditions. Therefore firms which do not have dominant market positions have strong incentive for strategic alliance in terms of coupon duration.

• Asia pacific journal of information systems
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• v.33 no.3
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• pp.812-830
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• 2023

We propose a mobile coupon strategy designed to increase the effect of push notifications on redemption. The proposed strategy recommends that firms deliver mobile coupons with distant expiration dates and remind them through push notifications framed negatively once these expiration dates become imminent, rather than frequently sending coupons with near expiration dates. We test the effectiveness of the proposed strategy using data collected through a randomized field experiment. The findings indicate that push notifications enhance coupon redemption rates for coupons that are held longer by customers than those that are recently received. Additionally, we found that sending negatively framed push notification messages to remind customers of imminent coupon expiration dates further resulted in higher coupon redemption rates. The findings can be employed to offer useful guidance on how to effectively design mobile coupons for achieving higher redemption rates.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.1135-1142
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• 2021

This study aims to examine the factors that determine bond yields in infrastructure companies listed on the Indonesia Stock Exchange. The research sample used 31 bonds issued by the company during the 2015-2019 period. The data analysis method to estimate the determinant of bond yield uses multiple regression models. The results prove that the increase in the coupon rate causes bond yields to increase, while the inflation rate has the opposite effect of decreasing bond yield. Interest rate, exchange rate, duration, and bond rating variables cannot affect the bond yield. The results of this study imply that investors will be interested in investing in bonds with better yields if the company has to set a higher coupon rate, especially in economic conditions that experience low inflation rates. Interest rates and exchange rates as macroeconomic variables have not been considered by investors in purchasing bonds. Bond characteristic factors, namely, the duration and rating of the bonds, are considered less important factors in bond investment decisions because they are more oriented towards getting higher yields. Therefore, further research needs to be explored further related to the behavior of Indonesian bond investors who may have different characters from investors in other countries.

• Journal of Intelligence and Information Systems
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• v.18 no.1
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• pp.23-38
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• 2012

There is a large difference between purchasing patterns in an online shopping mall and in an offline market. This difference may be caused mainly by the difference in accessibility of online and offline markets. It means that an interval between the initial purchasing decision and its realization appears to be relatively short in an online shopping mall, because a customer can make an order immediately. Because of the short interval between a purchasing decision and its realization, an online shopping mall transaction usually contains fewer items than that of an offline market. In an offline market, customers usually keep some items in mind and buy them all at once a few days after deciding to buy them, instead of buying each item individually and immediately. On the contrary, more than 70% of online shopping mall transactions contain only one item. This statistic implies that traditional data mining techniques cannot be directly applied to online market analysis, because hardly any association rules can survive with an acceptable level of Support because of too many Null Transactions. Most market basket analyses on online shopping mall transactions, therefore, have been performed by expanding the co-occurrence criteria of traditional association rule mining. While the traditional co-occurrence criteria defines items purchased in one transaction as concurrently purchased items, the expanded co-occurrence criteria regards items purchased by a customer during some predefined period (e.g., a day) as concurrently purchased items. In studies using expanded co-occurrence criteria, however, the criteria has been defined arbitrarily by researchers without any theoretical grounds or agreement. The lack of clear grounds of adopting a certain co-occurrence criteria degrades the reliability of the analytical results. Moreover, it is hard to derive new meaningful findings by combining the outcomes of previous individual studies. In this paper, we attempt to compare expanded co-occurrence criteria and propose a guideline for selecting an appropriate one. First of all, we compare the accuracy of association rules discovered according to various co-occurrence criteria. By doing this experiment we expect that we can provide a guideline for selecting appropriate co-occurrence criteria that corresponds to the purpose of the analysis. Additionally, we will perform similar experiments with several groups of customers that are segmented by each customer's average duration between orders. By this experiment, we attempt to discover the relationship between the optimal co-occurrence criteria and the customer's average duration between orders. Finally, by a series of experiments, we expect that we can provide basic guidelines for developing customized recommendation systems. Our experiments use a real dataset acquired from one of the largest internet shopping malls in Korea. We use 66,278 transactions of 3,847 customers conducted during the last two years. Overall results show that the accuracy of association rules of frequent shoppers (whose average duration between orders is relatively short) is higher than that of causal shoppers. In addition we discover that with frequent shoppers, the accuracy of association rules appears very high when the co-occurrence criteria of the training set corresponds to the validation set (i.e., target set). It implies that the co-occurrence criteria of frequent shoppers should be set according to the application purpose period. For example, an analyzer should use a day as a co-occurrence criterion if he/she wants to offer a coupon valid only for a day to potential customers who will use the coupon. On the contrary, an analyzer should use a month as a co-occurrence criterion if he/she wants to publish a coupon book that can be used for a month. In the case of causal shoppers, the accuracy of association rules appears to not be affected by the period of the application purposes. The accuracy of the causal shoppers' association rules becomes higher when the longer co-occurrence criterion has been adopted. It implies that an analyzer has to set the co-occurrence criterion for as long as possible, regardless of the application purpose period.

• Journal of Intelligence and Information Systems
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• v.18 no.3
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• pp.171-183
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• 2012

In the development of technologies, the exhibition industry has received much attention from governments and companies as an important way of marketing activities. Also, the exhibitors have considered the exhibition as new channels of marketing activities. However, the growing size of exhibitions for net square feet and the number of visitors naturally creates the competitive environment for them. Therefore, to make use of the effective marketing tools in these environments, they have planned and implemented many promotion technics. Especially, through smart environment which makes them provide real-time information for visitors, they can implement various kinds of promotion. However, promotions ignoring visitors' various needs and preferences can lose the original purposes and functions of them. That is, as indiscriminate promotions make visitors feel like spam, they can't achieve their purposes. Therefore, they need an approach using STP strategy which segments visitors through right evidences (Segmentation), selects the target visitors (Targeting), and give proper services to them (Positioning). For using STP Strategy in the smart exhibition environment, we consider these characteristics of it. First, an exhibition is defined as market events of a specific duration, which are held at intervals. According to this, exhibitors who plan some promotions should different events and promotions in each exhibition. Therefore, when they adopt traditional STP strategies, a system can provide services using insufficient information and of existing visitors, and should guarantee the performance of it. Second, to segment automatically, cluster analysis which is generally used as data mining technology can be adopted. In the smart exhibition environment, information of visitors can be acquired in real-time. At the same time, services using this information should be also provided in real-time. However, many clustering algorithms have scalability problem which they hardly work on a large database and require for domain knowledge to determine input parameters. Therefore, through selecting a suitable methodology and fitting, it should provide real-time services. Finally, it is needed to make use of data in the smart exhibition environment. As there are useful data such as booth visit records and participation records for events, the STP strategy for the smart exhibition is based on not only demographical segmentation but also behavioral segmentation. Therefore, in this study, we analyze a case of the promotion methodology which exhibitors can provide a differentiated service to segmented visitors in the smart exhibition environment. First, considering characteristics of the smart exhibition environment, we draw evidences of segmentation and fit the clustering methodology for providing real-time services. There are many studies for classify visitors, but we adopt a segmentation methodology based on visitors' behavioral traits. Through the direct observation, Veron and Levasseur classify visitors into four groups to liken visitors' traits to animals (Butterfly, fish, grasshopper, and ant). Especially, because variables of their classification like the number of visits and the average time of a visit can estimate in the smart exhibition environment, it can provide theoretical and practical background for our system. Next, we construct a pilot system which automatically selects suitable visitors along the objectives of promotions and instantly provide promotion messages to them. That is, based on the segmentation of our methodology, our system automatically selects suitable visitors along the characteristics of promotions. We adopt this system to real exhibition environment, and analyze data from results of adaptation. As a result, as we classify visitors into four types through their behavioral pattern in the exhibition, we provide some insights for researchers who build the smart exhibition environment and can gain promotion strategies fitting each cluster. First, visitors of ANT type show high response rate for promotion messages except experience promotion. So they are fascinated by actual profits in exhibition area, and dislike promotions requiring a long time. Contrastively, visitors of GRASSHOPPER type show high response rate only for experience promotion. Second, visitors of FISH type appear favors to coupon and contents promotions. That is, although they don't look in detail, they prefer to obtain further information such as brochure. Especially, exhibitors that want to give much information for limited time should give attention to visitors of this type. Consequently, these promotion strategies are expected to give exhibitors some insights when they plan and organize their activities, and grow the performance of them.