Read more
This book analyzes the impact of the digital economy on customer satisfaction, shopping experience, resistance to change, script theory, and loyalty. The model introduced assumes that online markets have led to a redefinition of the concepts of loyalty and shopping scripts as a way to reduce customers' cognitive effort, by optimizing purchase time and increasing the speed and satisfaction of the shopping experience. It describes the utility function of the script by retaining customer loyalty and making the customer more reluctant to abandon his regular supplier. It also explores the difficulty faced by the higher churn rate on the Internet and the minimization of search costs, by integrating more functionality to achieve the ultimate goal of behavioral and cognitive loyalty.
The authors provide an analysis in a "digital" view of the economic theory of switching costs and the resulting lock-in mechanisms which, in a classical economy, are often a barrier to disloyalty. It is auseful and effective tool for online businesses, their main managerial and strategic implications, and the adaptability to existing contexts.
List of contents
1. Definition and evolution of the variables in the model in marketing studies and research.- 2. A model of customer retention in business-intensive markets.- 3. Shopping scripts and resistance to change: an empirical verification in b2b digital markets.- 4. Managerial Implications of The Model and Final Insights.
About the author
Manlio Del Giudice is Associate Professor of Business Management at University of Rome Link Campus and is affiliated as Professor of Entrepreneurship and Management at the Paris Business School. His research interests include knowledge management, technology transfer, cross-cultural management, family business management, and entrepreneurship. He has authored over 100 publications for top journals and has active collaborations and affiliations with more than 20 universities globally. Maria Rosaria Della Peruta received her PhD in Business Administration from the University of Naples Federico II, Italy and performs research activity at the London Business School. Her research interests include knowledge management, cross-cultural management, family business management, and innovation management. She has authored over 50 publications with top journals and serves as the Associate Editor of Journal of the Knowledge Economy and Journal ofInnovation and Entrepreneurship.
Summary
This book analyzes the impact of the digital economy on customer satisfaction, shopping experience, resistance to change, script theory, and loyalty. The model introduced assumes that online markets have led to a redefinition of the concepts of loyalty and shopping scripts as a way to reduce customers’ cognitive effort, by optimizing purchase time and increasing the speed and satisfaction of the shopping experience. It describes the utility function of the script by retaining customer loyalty and making the customer more reluctant to abandon his regular supplier. It also explores the difficulty faced by the higher churn rate on the Internet and the minimization of search costs, by integrating more functionality to achieve the ultimate goal of behavioral and cognitive loyalty.
The authors provide an analysis in a "digital" view of the economic theory of switching costs and the resulting lock-in mechanisms which, in a classical economy, are often a barrier to disloyalty. It is auseful and effective tool for online businesses, their main managerial and strategic implications, and the adaptability to existing contexts.
