Evaluating the effectiveness of marketing tactics using purchase data

Noriko Yokoyama, Shin Ichiro Yokoyama, Shuji Hashimoto

    Research output: Contribution to journalArticle

    Abstract

    With the evolution of information technology, the variety of marketing tactics used by retail stores to retain customers is increasing. Although such tactics represent effective ways to retain customers, they can be very costly. Therefore, stores have to choose their tactics carefully to create a strategy. In this research, we aim to quantitatively identify effective tactics. We propose a method to calculate the quantity of tactics that should be devoted to each customer based on purchase data and analyze tactic effectiveness for different groups of customers using covariance structure analysis. We conducted these evaluation experiments using large-scale purchase data and determined that it is possible to obtain quantitative measures of tactic effectiveness and that it is effective to analyze each group individually because the quantity and effectiveness of the employed tactics differ according to variables such as age or sex.

    Original languageEnglish
    Pages (from-to)95-106
    Number of pages12
    JournalJournal of International Business and Economics
    Volume15
    Issue number3
    Publication statusPublished - 2015

    Fingerprint

    Marketing
    Purchase
    Tactics
    Evaluation
    Covariance structure analysis
    Retail stores
    Experiment

    Keywords

    • Big data analysis
    • Covariance structure analysis
    • Service engineering

    ASJC Scopus subject areas

    • Business, Management and Accounting(all)
    • Economics and Econometrics

    Cite this

    Evaluating the effectiveness of marketing tactics using purchase data. / Yokoyama, Noriko; Yokoyama, Shin Ichiro; Hashimoto, Shuji.

    In: Journal of International Business and Economics, Vol. 15, No. 3, 2015, p. 95-106.

    Research output: Contribution to journalArticle

    Yokoyama, N, Yokoyama, SI & Hashimoto, S 2015, 'Evaluating the effectiveness of marketing tactics using purchase data', Journal of International Business and Economics, vol. 15, no. 3, pp. 95-106.
    Yokoyama, Noriko ; Yokoyama, Shin Ichiro ; Hashimoto, Shuji. / Evaluating the effectiveness of marketing tactics using purchase data. In: Journal of International Business and Economics. 2015 ; Vol. 15, No. 3. pp. 95-106.
    @article{57933b6ab58d40e195cfa7646289c8c5,
    title = "Evaluating the effectiveness of marketing tactics using purchase data",
    abstract = "With the evolution of information technology, the variety of marketing tactics used by retail stores to retain customers is increasing. Although such tactics represent effective ways to retain customers, they can be very costly. Therefore, stores have to choose their tactics carefully to create a strategy. In this research, we aim to quantitatively identify effective tactics. We propose a method to calculate the quantity of tactics that should be devoted to each customer based on purchase data and analyze tactic effectiveness for different groups of customers using covariance structure analysis. We conducted these evaluation experiments using large-scale purchase data and determined that it is possible to obtain quantitative measures of tactic effectiveness and that it is effective to analyze each group individually because the quantity and effectiveness of the employed tactics differ according to variables such as age or sex.",
    keywords = "Big data analysis, Covariance structure analysis, Service engineering",
    author = "Noriko Yokoyama and Yokoyama, {Shin Ichiro} and Shuji Hashimoto",
    year = "2015",
    language = "English",
    volume = "15",
    pages = "95--106",
    journal = "Journal of International Business and Economics",
    issn = "1544-8037",
    publisher = "International Academy of Business and Economics",
    number = "3",

    }

    TY - JOUR

    T1 - Evaluating the effectiveness of marketing tactics using purchase data

    AU - Yokoyama, Noriko

    AU - Yokoyama, Shin Ichiro

    AU - Hashimoto, Shuji

    PY - 2015

    Y1 - 2015

    N2 - With the evolution of information technology, the variety of marketing tactics used by retail stores to retain customers is increasing. Although such tactics represent effective ways to retain customers, they can be very costly. Therefore, stores have to choose their tactics carefully to create a strategy. In this research, we aim to quantitatively identify effective tactics. We propose a method to calculate the quantity of tactics that should be devoted to each customer based on purchase data and analyze tactic effectiveness for different groups of customers using covariance structure analysis. We conducted these evaluation experiments using large-scale purchase data and determined that it is possible to obtain quantitative measures of tactic effectiveness and that it is effective to analyze each group individually because the quantity and effectiveness of the employed tactics differ according to variables such as age or sex.

    AB - With the evolution of information technology, the variety of marketing tactics used by retail stores to retain customers is increasing. Although such tactics represent effective ways to retain customers, they can be very costly. Therefore, stores have to choose their tactics carefully to create a strategy. In this research, we aim to quantitatively identify effective tactics. We propose a method to calculate the quantity of tactics that should be devoted to each customer based on purchase data and analyze tactic effectiveness for different groups of customers using covariance structure analysis. We conducted these evaluation experiments using large-scale purchase data and determined that it is possible to obtain quantitative measures of tactic effectiveness and that it is effective to analyze each group individually because the quantity and effectiveness of the employed tactics differ according to variables such as age or sex.

    KW - Big data analysis

    KW - Covariance structure analysis

    KW - Service engineering

    UR - http://www.scopus.com/inward/record.url?scp=84961590338&partnerID=8YFLogxK

    UR - http://www.scopus.com/inward/citedby.url?scp=84961590338&partnerID=8YFLogxK

    M3 - Article

    VL - 15

    SP - 95

    EP - 106

    JO - Journal of International Business and Economics

    JF - Journal of International Business and Economics

    SN - 1544-8037

    IS - 3

    ER -