An agent-based simulation of customer multi-channel choice behavior

Lea Sonderegger-Wakolbinger and Christian Stummer

Central European Journal of Operations Research, 2015, vol. 23, issue 2, 459-477

Abstract: Experimenting with multi-channel operations in reality is both costly and risky, because it can severely affect a firm’s revenues, profitability, customer churn, and other customer metrics. In this paper, we introduce an agent-based simulation approach as a means for exploring and analyzing the impact of (combinations of) multi-channel activities on customer channel choices before having implemented them in practice. The simulation takes into account the heterogeneity of customers, social dynamics in their behavior, and the various phases of the purchasing process. To this end, customers are represented by agents whose phase-specific channel perceptions determine their channel choices. These perceptions may be altered by communication with other agents, first-hand experience of the channel, and/or marketing activities. The approach is illustrated through a sample application for which data from an international multi-channel retailer as well as from an empirical study among Austrian customers have been used. Copyright Springer-Verlag Berlin Heidelberg 2015

Keywords: Agent-based simulation; Marketing; Multi-channel choice (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (9)

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DOI: 10.1007/s10100-015-0388-5

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