Impact of Demographic Factors on Consumer’s Usage of Digital Payments

The post-demonetization phase in India has triggered more cashless transactions; a shortage of cash in the system had forced consumers to shift themselves from cash to cashless transactions. In the retail space, the thrust has shifted on costs, as banks continued their efforts towards migrating customers to lower-cost electronic and automated channels to reduce human intervention. On the contrary, it is also vital to check the customers’ demographic impact on the usage of digital payment services. The objective of the study is to analyse the changing customer dynamics and improve the customer experience from the outcome. This article aims to investigate the impact of demographic factors on consumer usage (CU) of Digital payments during post-demonetization. Further, exploring the impact of demographic factors (gender, age, education, marital status and income) on CU and satisfaction of 599 respondents towards various digital payment methods in tier I and tier II cities of India. The results show a significant impact of age, education, occupation, and income of respondents and no significant impact of gender and marital status of the respondents on consumers’ usage. The outcomes of the current work revealed useful insights into consumer’s usage and satisfaction with four prevailing digital payment methods vis-à-vis demographic factors. This study is significant as it empirically examines the impact of demographic factors on the CU of digital payment systems during the post-demonetization period in India.

Impact of Strategic Locations on Customer Dynamics in Business Outlets: A Case by Observation Method

This paper investigated the impact of strategic location, a retailer's most expensive and long-term marketing mix choice, on customer dynamics. The researchers used two aspects of retail location to estimate consumer spending at a multinational café franchisee in the metropolitan area of Malaysian capital. A qualitative observation method has been applied to collect the data and analyzed it systematically. Several factors including proximity to customers, i.e. trip times, and closeness to other shops, i.e. agglomeration are measured. Both are key indicators of customer spending and, as a result, revenue for the business. Furthermore, across retail forms, location effects are diverse and frequently asymmetric. Rush hour times to a retailer's general outlet have a significantly larger effect on customer dynamics than they do on other outlets, according to the findings. Retailers are increasingly focusing on providing a better consumer experience. However, there has been a scarcity of comparable academic study on the subject. The researchers addressed particular factors in this study, emphasizing those that need further investigation.

Analisis Kestabilan dan Kontrol Optimal Model Matematika Dinamika Pelanggan Berdasarkan Kebijakan Pemasaran

Customer dynamics include the exchange of information and ongoing transactions between customers and the organization. This process has an important role in the company to run its business, so that the number of customers increase. To achieve this, many things are done by the company. One of the strategies is product advertising by word of mouth. The purpose of this thesis is to analyze the stability of equilibrium point and to apply the optimal control word of mouth advertising on mathematics model of the customer dynamics based on marketing policy. Mathematics model of the customer dynamics based on marketing policy without control has two equilibrium points, namely non – endemic equilibrium (E0) and endemic equilibrium (E1). Local stability of equilibrium and the existence of endemic equilibrium depends on basic reproduction number (R0). The non – endemic equilibrium tend to asymptotically stable if R0 < 1. The problem of optimal control is solved by Pontryagin’s Maximum Principle. The simulation results show that the total number of referral and regular customer populations that are given control in the form of word of mouth advertising efforts at the end of the observation are 312 and 18470 with the control effort costs occurred in 1798364.63. While the total number of referral and regular customer populations that are not given control in the form of word of mouth advertising efforts at the end observation are 241 and 17260. Based on these results show that word of mouth advertising efforts have an effect to increase the number of referral and regular customer in accordance with the aim of providing optimal control.

The Interactive Approach to Exploring Value Co-Creation

Service dominant logic (S-D logic) is a concept that has been criticized for not adopting an interactive approach to some of its fundamental premises (Vargo & Lusch, 2016). Recently, S-D logic has been modified to reflect interactive dimensions and, in particular, the construct of value co-creation (Vargo & Lusch, 2016). These modifications suggest that the service-provider?customer dynamics cannot be fully understood without utilizing interaction terminology and research methodology that afford an opportunity to study the domain from a dyadic point of view. In this chapter, Symbolic Interactionism (SI) and Social Exchange Theory (SET) perspectives are espoused in order to explore the construct of value co-creation as a dynamic qualitative process or a stable quantitative outcome, respectively, the challenges, advantages, and limitations of applying these perspectives are discussed.