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|کد مقاله||سال انتشار||تعداد صفحات مقاله انگلیسی||ترجمه فارسی|
|14175||2009||11 صفحه PDF||سفارش دهید|
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Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)
Journal : Expert Systems with Applications, Volume 36, Issue 1, January 2009, Pages 922–932
As Asian economies have grown rapidly, Asia has become a new leading market of the luxury goods industry. This paper used conjoint analysis (CA) for the optimal design of a luxury brand outlet mall to maximize the customer lifetime value (CLV). This approach complements a simple CA by considering CLV. The proposed approach is then applied to designing a suburban luxury brand outlet mall in Korea, a new concept to Korea. The results indicate that the optimal design for the outlet mall is the medieval European-style mall, with the linkage to Natural Tourism, which consists of the restaurants with delicious food and the stores with similar ratio between masstige and luxury brands.
As the economy of Asian countries has grown rapidly, the market of luxury goods in Asia has also developed. Although Asian countries earn less per capita than developed countries in North America and Europe, this economic development has given more potential buying power to the Asian market. Recently, the Asian luxury goods market represents up to 45% of the world’s luxury goods market (Lee & Kim, 2003). Japan has already become an important market for the luxury item industry with Hong Kong and Korea following the trend. This economic growth also made various distribution channels possible in Asia allowing major distribution companies to introduce suburban luxury brand outlet malls in Asia. Luxury brand outlet malls began in the USA and Japan 10 years ago and have a large demand potential in Asia. To successfully establish the market for new luxury brand outlet malls in Asia, it is essential to understand the customers’ preferences. Regardless of the specific tools and methods used to develop successful outlet malls, customer orientation is a prerequisite (Lengnick-Hall, 1996). There are two methods to discover customer needs, passive and active. The passive method simply classifies the existing customers. Alternatively, the active method finds customers who over their lifetime can be profitable for companies. By searching and sorting out valuable customers into different groups based on their potential lifetime profits, developers can better meet different needs and expectations (Day, 2003). Consequently, to the ability to evaluate the lifetime value of customers is important. The main purpose of this study is to design a luxury brand outlet mall for the Asian market using a conjoint analysis (CA) in consideration of the customer lifetime value (CLV). The remainder of this paper is organized as follows; Section 2 reviews previous studies regarding the luxury brand industry, shopping malls and the related research methodology for CA and CLV. In Section 3, a CA is conducted to design a luxury brand outlet mall in Korea. In Section 4, the CA results are enhanced with the CLV. In Section 5, the market share of a designed luxury brand outlet mall in a competitive environment using choice simulation is predicted. Section 6 concludes this paper and suggests future research directions.
نتیجه گیری انگلیسی
The CA is a popular method used to analyze customer utility before a new product or service is placed on the mar- ket. To develop a successful design for a luxury brand out- let mall, CA is applied with CLV. The result of CLV shows that the purchasing power of the domestic customer is the highest (85%) follow by the Japanese (7%), Chinese (5%), and European and North American (3%). From CA, both the importance of each attribute and its preference level in luxury brand outlet malls are discovered. Using choice simulation, the different CLV of customers is applied. The most profitable design from CA and CLV for a luxury brand outlet mall is deter- mined when the scenarios from existing competitors are compared. The suggested profile, our optimal design of a mall, has the highest market share in a competitive environment. Our proposed methods and results can also be applied to future studies. Through the combined approach of CA with CLV, a reduction in the bias related to the nationality of customers is possible. Evaluating the CLV of customers from different countries to weight the value of customer utility in CA can be especially useful in a market with many potential international customers. Accordingly, these results can be applied to an effective design not only for luxury brand outlet malls but also other types of products and services. In addition, this analysis has a limitation. The survey for CA requested respondents to order many profiles. As this survey requires a lot of concentration and effort from respondents to finish the questions, good data quality was difficult to acquire. To obtain more accurate results, forming a more intuitive and visual survey is necessary and needs to be considered in future study.