customer profitability
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The Probability Model of Customer Retention with Measuring Customers’ Satisfactions
Abstract: Customer retention rate is an important topic in E-commerce when company hopes to keep the profit from the active customers by marketing programs. This study constructs a probability model to consider customer retention, follows Weibull distribution and is influenced by their satisfaction which is considered as a parameter on retention probability density function. A Bayesian form is formulated by calculating marginal density of customer retention. This probability model can predict …
Published in E-Commerce for Future & Trends · Vol. 8, Issue 1, 2021 · pp. 31–34 Read article