These seminars will be held from 1pm - 2pm in room L1.38 in Trinity Business School, 152-160, Pearse Street. All are welcome.
14th June, 2018
Dr Michael Haenlein, ESCP-EAP
TITLE: Churn your best customers to increase Customer Life Time Value?
What can managers learn from Clash of Clans and Pokémon Go counter-intuitive practice.
SUMMARY: In mobile digital environments, we observe increasing use of cross-promotion activities in which firms proactively churn their customers toward other products. This practice may appear to challenge the conventional wisdom of the importance of customer retention, in particular of high-value customers. Yet past work in this area has largely focused on the case of a single product, while firms are increasingly advised to manage their offerings as “product platforms” that consist of families of products with a common underlying logic. Taking a product platform view, when a new product enters the market, users of current products may be good candidates for acquisition efforts toward the new offering. Applying a customer lifetime value (CLV) approach and using the digital gaming industry as an example, we show that when customer engagement declines over time, it should be in the firm’s interest to use cross promotion to churn even its best customers from current products and transfer them to a newer product. We examine the factors that affect the profitability of moving from a single product lifetime value to product platform lifetime value; consider the possible impact of other factors such as social influence on other customers; demonstrate sensitivity analysis of customer transferal for the case of a mobile gaming company; and discuss the implications for the results on the management of customers in the contemporary market environment.
BIO: Michael Haenlein is Professor of Marketing at ESCP Europe, the Scientific Director of the ESCP Europe Research Center on Big Data and the Associate Dean of the ESCP Europe Executive PhD Program. Michael's research interest and expertise deal with the subjects of Customer Relationship Management (CRM) and Social Media. In particular, he analyzes the relationship between social networks and customer profitability and more broadly the concepts of Social CRM, Word-of-Mouth (WoM) and Customer Social Value. Professor Haenlein has published in journals such as the Journal of Marketing, International Journal of Research in Marketing (IJRM), European Management Journal, Business Horizons and the California Management Review. He counts among the top 75 most cited marketing academics worldwide, based on Google Scholar.
26th July, 2018
Dr Angel A. Juan, Universitat Oberta de Catalunya (Barcelona, Spain)
SUMMARY:Optimization problems arising in real-life transportation and logistics, supply-chain management, and smart cities -just to name a few areas- need to consider uncertainty conditions (e.g., stochastic travel times, weather conditions, random demands, stochastic processing times, or availability issues). Simulation is frequently employed in the analysis of complex systems under such non-deterministic environments. However, simulation is not an optimization tool, so it needs to be combined with optimization methods whenever the goal is to: (i) maximize the system performance using a limited number of resources; or (ii) minimize its operations cost while guaranteeing a given quality of service. When the underlying optimization problem is NP-hard (i.e. the computation time increases exponentially as the problem size increases), methods such as metaheuristics are required to solve large-scale instances in reasonable computing times. Simheuristics extend metaheuristics by adding a simulation layer that allows the optimization component to deal efficiently with scenarios under uncertainty. This presentation reviews both initial as well as recent applications of simheuristics, mainly in the areas of logistics, transportation, manufacturing, finance, and telecommunication systems. Current trends and open research lines in this simulation-optimization field will be also discussed. The seminar is designed for general audience to promote research collaboration in the application of simheuristics. Professor Juan will be available to meet with people who are interested in discussing the technical aspect immediately after the seminar.
BIO: Dr. Angel A. Juan is Professor of Operations Research & Industrial Engineering in the Computer Science Dept. at the Universitat Oberta de Catalunya (Barcelona, Spain). He is also the coordinator of the ICSO research group at the IN3. Dr. Juan holds a Ph.D. in Industrial Engineering and an M.S. in Mathematics. He completed a predoctoral internship at Harvard University and postdoctoral internships at Massachusetts Institute of Technology and Georgia Institute of Technology. His main research interests include applied optimization and simulation (metaheuristics and simheuristics) in computational transportation & logistics, Internet computing, and computational finance. He has published 65+ articles in JCR-indexed journals and 170+ documents indexed in Scopus.