Analysis reveals effective marketing strategies for switchable customers using coefficient estimation and survival analysis methods.
Choice-based market segmentation forms the basis for identifying customers who have choice probabilities that indicate they may be prone to switching suppliers. Marketing strategies are developed based on logit coefficients to target this “switchable” market segment. An overview of multinomial logit choice modeling along with a description of coefficient estimation with SPSS’s survival analysis maximum likelihood function are provided and then illustrated with data from the auto machine shop suppliers industry.
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Mark Young (2002) studied this question.
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