Acquisition Pattern Analysis for Relationship Marketing: A Conceptual and Methodological Redefinition

Paas, Leonard J.; Kuijlen, A.A.A.; Poiesz, T.B.C.

doi:10.1080/02642060500100999

Cited by 9 publications

(11 citation statements)

References 25 publications

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“…Extant studies on acquisition patterns of financial products (Bijmolt et al. , 2004; Paas et al. , 2005) suggest, however, that a common order of acquisition is questionable for the financial product market.…”

Section: Predicting Product Acquisitions By Using the Latent Markomentioning

confidence: 99%

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Discrete Time, Discrete State Latent Markov Modelling for Assessing and Predicting Household Acquisitions of Financial Products

Paas

Vermunt

Bijmolt

2007

Journal of the Royal Statistical Society Series A: Statistics in Society

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Summary. The paper demonstrates application of the latent Markov model for assessing developments by individuals through stages of a process. This approach is applied by using a database on ownership of 12 financial products and various demographic variables. The latent Markov model derives latent classes, representing household product portfolios, and shows the relationship between class membership and household demographics. The analysis provides insight into switching between the latent classes, reflecting developments of individual household product portfolios, and the effects of demographics on such switches. Based on this, we formulate equations to predict future acquisitions of financial products. The model accurately predicts which product a specific household unit acquires next, for most of the products.

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Section: Predicting Product Acquisitions By Using the Latent Markomentioning

confidence: 99%

“…This is empirically relevant, as Bijmolt et al. (2004) and Paas et al. (2005) reported the occurrence of such divergence.…”

Section: Introductionmentioning

confidence: 95%

Discrete Time, Discrete State Latent Markov Modelling for Assessing and Predicting Household Acquisitions of Financial Products

Paas

Vermunt

Bijmolt

2007

Journal of the Royal Statistical Society Series A: Statistics in Society

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“…These studies typically employ cross-sectional data (e.g. Kamakura et al, 1991;Paas, Kuijlen, & Poiesz, 2005;Soutar & Cornish-Ward, 1997). However, cross-sectional ownership patterns contradicting or supporting a specific order of acquisition may result from changes in the order of acquisition over time and/or from different segments of households acquiring different sets of products over the lifecycle.…”

Section: Introductionmentioning

confidence: 99%

Acquisition patterns of financial products: A longitudinal investigation

Paas¹,

Bijmolt²,

Vermunt³

2007

Journal of Economic Psychology

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Acquisition pattern analysis investigates orders in which households acquire products. Extant empirical studies employ cross-sectional data, providing limited insight into acquisition orders and no insight into timing of product acquisitions. We use an extensive longitudinal database for studying acquisition patterns in the financial product market, in particular financial assets. We find support for a common order of acquisition, reflecting risk levels of the financial products, and provide insight into the timing for acquiring products. We show developments of product portfolios are strongly related to the lifecycle stage of the household, income and household assets.

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“…In this article, we will apply acquisition pattern analysis (Kamakura et al, 1991; Paas et al, 2005; Paas & Molenaar, 2005) to gain insights into adoption orders for mobile phone services and apps among Zambian micro-entrepreneurs, that is, owner-managers of resource-constrained and mainly informal small enterprises, who employ a few people at most (Khavul et al, 2009). Small, informal entrepreneurship is predominant in developing economies (Amankwah-Amoah et al, 2018), representing 39.9% of the Zambian population aged 18 to 64 years (Global Entrepreneurship Monitor, 2018).…”

Section: Introductionmentioning

confidence: 99%

“…Most firms in the region apply transactional marketing approaches, without distinguishing between existing customers and other consumers (Allo, 2014). Pressey and Tzokas (2006) proposed that relationship marketing requires alignment of product-services to individual needs, which can be realized through new product development and/or appropriate targeting of product-service offers to consumers (Paas et al, 2005). The latter can be facilitated using the information that can be derived by acquisition pattern analysis.…”

Section: Introductionmentioning

confidence: 99%

Adoption of services and apps on mobile phones by micro-entrepreneurs in Sub-Saharan Africa

Paas

Eijdenberg

Masurel

2020

International Journal of Market Research

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This article shows that acquisition pattern analysis is highly suited for research in developing economies. Consumers in such contexts prioritize the adoption of alternative product-services as a result of resource constraints. In the reported acquisition pattern analysis, we provide insights into sequential adoption of services and applications (apps) on mobile phones, for example, Facebook and mobile money, by micro-entrepreneurs in Sub-Saharan Africa. We collected survey data from 169 Zambian food vendors, and through Mokken scale analysis we derived an acquisition pattern for 12 analyzed services and apps. Micro-entrepreneurs with more employees, tertiary education, and who were younger tended to be closer to the hierarchy’s apex. These findings imply that the individual’s mobile phone technology maturity and business development drive their adoption of services and apps. After presenting these results, we conclude with a discussion of the theoretical insights, managerial insights, and implications for policy makers resulting from the study.

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Acquisition Pattern Analysis for Relationship Marketing: A Conceptual and Methodological Redefinition

Cited by 9 publications

References 25 publications

Discrete Time, Discrete State Latent Markov Modelling for Assessing and Predicting Household Acquisitions of Financial Products

Discrete Time, Discrete State Latent Markov Modelling for Assessing and Predicting Household Acquisitions of Financial Products

Acquisition patterns of financial products: A longitudinal investigation

Adoption of services and apps on mobile phones by micro-entrepreneurs in Sub-Saharan Africa

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