• Management & Information Systems Review
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• v.23
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• pp.25-40
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• 2007

In the highly competitive and divers world of financial market, customer is the single most important factor to company's survival. Especially, creating a relationship with valued customers is a key to success. CRM provides the mean to retain high value customers. It takes a prospect of what customers expect. Utilizing those knowledge can help the products and service meet the customers' needs, thereby maximizing customer satisfaction and company's profit. In this report, I am going to suggest a few ways to develop successful CRM in the life insurance industry. First, CRM should innovate the way of communication to keep pace with Web 2.0 era. In other words, the customer's needs should be caught by real-time communication than traditional off-line market research. Thus, the functionality and specification of products can be decided by customer's direct choice so that the customers are able to purchase the understanding and experience of the products. Second, CRM project should consider whether the initial strategy plan can promise the stable growth of customer at the first step. When planning strategy, the project needs to identify what customer wants and how to fulfill the needs with stable growth of the customer. In addition, the CRM should be developed by realizing that customer centric benefits ultimately guarantee the growth of the organization. Third, CRM systems should enhance the organization's ability to take the customer's insight in a 360 degree view and to capture the voice of the customer directly. In order to develop the best matched product package, more precise customer segmentation should be ahead of market segmentation strategy. Forth, the biggest reward from CRM will be a customer royalty program. Many successful banks are already planning and practicing customer royalty strategy. A comprehensive analysis of customers and their behavior allow organization to identify high value potential customers' needs and determine a strategy required to meet those needs. Even life insurance companies such as Prudential Korea are developing products designed for royal customers. Fifth, understanding and managing the experience of customer called Customer Experience Management also can increase customer satisfaction. Measuring only customers' experience and adapting it to marketing strategy make products position in the gap between the customers' expectation and experience not required by market. A key component of CEM is its application across all organizational functions. At last, the direction of change and development of CRM can be defined from the conceptualization of information technology represented by Ubiquitous and Web 2.0. Instead of just managing customer information, companies should take the initiative in personalized system with customer oriented strategy. Furthermore, with the regular communication between CRM stakeholders (Sales-Marketing-IT), customer's demand should be directly reflected to enterprise strategy in real time.

• International Journal of Contents
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• v.9 no.1
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• pp.71-80
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• 2013

The golf industry has become the center of attention for recreational activities in the participant sport market; however, there has been little effort made to understand golf consumer and their consumption behavior using the concept of 'recreational specialization' which segments the golfers based on level of specialization in golf. The purpose of this study was to explore the differences in the relationships among perceived service quality, price of playing golf, overall customer satisfaction with the course, and a player's intention to revisit the same golf course based on the magnitude of recreation specialization in golf. Four public and two private golf courses from the southeastern state of the United States were randomly chosen from a list in a golf magazine. The 365 surveys among 417 participants were ultimately analyzed. Multiple group analysis was conducted in order to investigate differences in relationships among service quality, price, customer satisfaction, and revisit intentions between groups based on the level of recreation specialization. The key findings were 1) for more specialized golfers, satisfaction with price did not affect overall customer satisfaction or revisit intention, however, service quality significantly influenced both overall customer satisfaction and revisit intention, 2) for less specialized golfers, satisfaction with price significantly influenced overall customer satisfaction but did not affect revisit intention. Knowledge about which the determinants of satisfaction are different between more and less specialized golfers could provide a better understanding of how different marketing strategies should be implemented for different specialized levels of golfers.

• Management & Information Systems Review
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• v.23
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• pp.1-23
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• 2007

Small and Medium Business Associate has supporting small and medium business and private business for establishment business and sales increasing with various policy since 2005. Arousing the interesting on customer relationship management, small and medium business and private business have recognized the necessity of the concept and introduction the CRM. This study suggested the effectiveness of the CRM throughout real cases of the CRM for small and medium business managers in order to rising sales in such an environment. The case of this study tried to figure it out to accomplish manager's ends of small and medium business to get successful business results based on innovative volition and mind trying to change. The owner who has experience 12 years in meat sales was analyzed the results of aptitude test that the business is highly appropriate to him in personality and aptitude. As also saw the strength and opportunity of SWOT analysis, he has an excellent talent for friendship, knowledge of searching Internet and organizing information, and learning ability. This study provided a marketing policy, ideas of customer services and system remodeling to improve relationship with customer, and a division diagnosis of business activities. The owner has an excellent friendship, so that this study suggest to remodel interior inside store clearly and sanitary displaying on products, to introduce aggressive and concentrated marketing strategies, and to recognize the important of public relation.

• Journal of Navigation and Port Research
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• v.36 no.9
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• pp.753-761
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• 2012

To achieve a differential advantage over competitors and protect their long-term interest, shipping lines have striven to find ways to maintain an ongoing relationship with shippers which can be achieved by attaining their loyalty. The benefits of loyal shippers are potentially huge in that they generate long-term revenue streams as well as provide cost savings as compared with attracting new shippers. Logistics service provided by shipping lines is identified as one of the effective tools for building customer loyalty. However, in a review of the literature none of the studies examine how logistics service creates customer loyalty, particularly between shipping lines and shippers. Consequently, the overarching purpose of this paper is to extend knowledge on logistics service performance and its relationship with customer loyalty in the unique context of maritime transport by proposing a new conceptual model based on an extensive literature review. The major contribution is to offer a new insight into the complex relationships between those 'soft' concepts in the context of maritime transport.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.30 no.4
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• pp.141-154
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• 2007

Nowadays, customer-oriented manufacturing enterprises such as airplane, ship, ship engine, etc are knowledge-intensive and higher added value industries. In these companies, to quickly respond customer's order, a quotation management is a very important task. But, this task is very complex, time-consuming, resource- consuming, and difficult process because it is related with many departments within a company. In this paper, for the effective and efficient quotation management, the concept of product specification framework is introduced because a quotation BOM (bills of material) can be created from product specification. Also, this paper presents the product specification framework based quotation management process and implements the quotation management system for the ship engine division of 'H' company, one of customer-oriented manufacturing enterprises. As a result, the proposed quotation management concept reduced a lead time of drawing out quotations from $3{\sim}10$ days to 1 hour. And, the constructed quotation management system achieved a rapidity, accuracy, quality, and workload reduction of the quotation management process.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.1
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• pp.257-269
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• 2021

Intellectual capital is becoming a crucial factor for a firm's long-term profit and performance in the knowledge-based economy as more firms identify their core competence as invisible assets rather than visible assets (Itami, 1987). The company was encouraged to measure financial and non-financial factors, including the customer perspective groups, the internal business process, learning and growth perspective, then to link all these measurements in a coherent system. This paper seeks to investigate the influence of intellectual capital elements on company performance, as well as the relationship among intellectual capital elements from a cause-effect perspective. Resource-Based View (RBV) considers intellectual capital as resource and capability to sustain competitive advantage on company performance. The partial least squares approach is used to examine listed banks in Indonesia Stock Exchange for year 2017-2019. Results show that human capital directly has positive influences on innovation capital, customer capital, and process capital. Innovation capital has positive, but less significant influence on process capital, which in turn influences customer capital. Human capital and process capital also influence customer capital. Finally, customer capital contributes to performance. This study helps management to identify relevant intellectual capital elements as competitive advantage and their indicators to enhance business performance.

• The Journal of Economics, Marketing and Management
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• v.7 no.3
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• pp.1-12
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• 2019

Purpose - This study aims to investigate the major capabilities of airline cabin crew to improve the performance of the organization by identifying how they are affected by turnover and customer orientation. Research, design, data, and methodology -The survey participants were limited to all airline cabin crew members in Korea to look at the component measurement items. To verify the validity of the questionnaire, the final questionnaire for this survey was prepared by modifying and supplementing the questionnaire by analyzing factors and validating the questionnaire through reliability verification Results - The analysis on the impact of personal capacity of the airline cabin crew on turnover revealed that some factors had an effect of the positive and the personal capacity of the airline cabin crew has a statistically positive effect on the customer orientation relationship, which is a sub-factor of the cabin crew Conclusions -The capacity of the cabin crew of the airline was defined and the components were established as technical capacity, knowledge capacity and expertise capacity. It was found that the intangible performance of the individual capabilities and customer orientation were very closely related. Airline cabin crew have verified the importance of good talent selection and capacity development training, which are essential requirements for securing the airline's competitiveness.

• Knowledge Management Research
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• v.21 no.1
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• pp.197-210
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• 2020

The smart speaker includes an AI assistant function in the existing portable speaker, which enables a person to give various commands using a voice and provides various offline services associated with control of a connected device. The speed of domestic distribution is also increasing, and the functions and linked services available through smart speakers are expanding to shopping and food orders. Through text mining-based customer review analysis, there have been many proposals for identifying the impact on customer attitudes, sentiment analysis, and product evaluation of product functions and attributes. Emotional investigation has been performed by extracting words corresponding to characteristics or features from product reviews and analyzing the impact on assessment. After obtaining the topic from the review, the effect on the evaluation was analyzed. And the market competition of similar products was visualized. Also, a study was conducted to analyze the reviews of smart speaker users through text mining and to identify the main attributes, emotional sensitivity analysis, and the effects of artificial intelligence attributes on product satisfaction. The purpose of this study is to collect blog posts about the user's experiences of smart speakers released in Korea and to analyze the attitudes of customers according to their attributes. Through this, customers' attitudes can be identified and visualized by each smart speaker product, and the positioning map of the product was derived based on customer recognition of smart speaker products by collecting the information identified by each property.

• Journal of Distribution Science
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• v.5 no.1
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• pp.23-40
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• 2007

Relatively little research has been conducted in relation benefits factors. Existing works have been mostly theoretical, and have focused almost exclusively on the performance implications of relation benefits factors. The current study empirically tested the relationship between relation benefits Factors, Satisfaction, loyalty, and Worth of mouth in Service firms. Accordingly, this research conduct theoretical research on Relation Benefits and offer service corporate which is not familiar with relation benefit and service knowledge practical knowledge. Further, it suggest the company's pliability through an efficient customer relationship and practical way of Relation Benefits to them an efficient customer relationship.

• Information Systems Review
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• v.8 no.2
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• pp.119-138
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• 2006

Association Rule Mining has been successfully used for mining knowledge in static environment but it provides limited features to discovery time-dependent knowledge from multi-point data set. The aim of this paper is to develop a methodology which detects changes of customer behavior automatically from customer profiles and sales data at different multi-point snapshots. This paper proposes a procedure named 'Recursive Change Mining' for detecting continuous change of customer purchase behavior. The Recursive Change Mining Procedure is basically extended association rule mining and it assures to discover continuous and repetitive changes from data sets which collected at multi-periods. A case study on L department store is also provided.