Thorsten Wiesel's research while affiliated with University of Münster and other places

Publications (29)

Article
This article tries to deepen our knowledge on the nature of value creation and management in times of turbulent environments both for business management and academic research. The current uncertainties in our economy—coming from exogenous shocks (e.g., financial crises, political standoffs [US–China], pandemic and Ukrainian war) or from demand for...
Chapter
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Attitudes, perceptions, and intentions of a firm's customers, which can be captured via customer feedback metrics (CFMs), provide valuable information about the state of a firm's customer base. CFMs can help capture the impact of marketing actions on future customer behavior and future firm performance, and thus can help make marketing become more...
Article
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The increased penetration of mobile devices has a significant impact on customers’ online shopping behavior, with customers frequently switching between mobile and fixed devices on the path to purchase. By accounting for the attributes of the devices and the perceived risks related to each product-category, we develop hypotheses regarding the relat...
Chapter
Einen sehr großen – nicht umsonst spricht man häufig von „Martech“ oder „Marketing Technology“. Aber nicht nur für die Praxis, sondern auch für die Wissenschaft hat es große Bedeutung. Klaus Backhaus hat ja in diesem Sammelwerk einen Beitrag mit dem Titel „Vom Homo Oeconomicus zum Homo Digitalis“ geschrieben.
Chapter
Der Begriff Customer Engagement gewinnt in Wissenschaft und Praxis gleichermaßen zunehmend an Bedeutung. Er beschreibt den integrativen Ansatz zum Aufbau und Ausbau einer wechselseitigen Beziehung zum Kunden, welche maßgeblich in der Einbindung des Kunden in Unternehmensaktivtäten besteht. Der Customer Engagement Value stellt dabei einen wichtigen...
Article
While many studies examined the effects of online customer reviews (OCRs) on product sales, a clear understanding of the effects of OCRs on product returns is lacking. This study examines the impact of OCRs characteristics (valence, volume, and variance) on return decisions with a rich multi-year dataset from a major online retailer covering the el...
Article
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Customer equity drivers (CEDs)—value equity, brand equity, and relationship equity—positively affect loyalty intentions, but this effect varies across industries and firms. We empirically examine potential industry and firm characteristics that explain why the CEDs–loyalty link varies across services industries and firms in the Netherlands. The res...
Article
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The Internet has given rise to many new forms of advertising. Scientific studies have focused on individual reactions to specific advertising forms in isolation and have offered little guidance for aggregate-level budget allocation decisions, which are typically based on simple rules. This article compares the long-term effectiveness of nine forms...
Chapter
Es gibt nicht die Produktpolitik im Industriegütermarketing. Abgesehen von einigen geschäftstypenübergreifenden produktstrategischen Entscheidungen sind die produktpolitischen Entscheidungen abhängig vom Geschäftstyp. Produktpolitik im Anlagengeschäft ist eben etwas völlig anderes als Produktpolitik im Produktgeschäft. Produktpolitik im Industriegü...
Article
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This study systematically compares different customer feedback metrics (CFMs)—namely customer satisfaction, the Net Promoter Score, and the Customer Effort Score—to test their ability to predict retention across a wide range of industries. We classify the CFMs according to a time focus (past, present, or future) and whether the full scale of the CF...
Article
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Voor de evaluatie van diensten wordt door veel bedrijven gebruik gemaakt van zogenaamde customer feedback metrics (CFMs). Deze maatstaven, zoals klanttevredenheid en de Net Promoter Score (NPS), geven een indicatie hoe het klantenbestand over het bedrijf denkt, wat een goede indicator kan zijn voor (toekomstig) klantgedrag en voor bedrijfsprestatie...
Article
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How can firms retain customers during recessions? To answer this question, we investigate the moderating role of consumer confidence (CC) on the effects of three types of crucial customer loyalty strategies. These strategies are value equity (VE), brand equity (BE), and relationship equity (RE), collectively called customer equity drivers (CEDs). W...
Article
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Customers are the most important assets of most companies, such that customer equity has been used as a proxy for shareholder value. However, linking customer metrics to shareholder value without considering debt and nonoperating assets ignores their effects on relative changes in customer equity and leads to biased estimates. In developing a new t...
Article
Inofec, a small- to medium-sized enterprise in the business-to-business sector, desired a more analytic approach to allocate marketing resources across communication activities and channels. We developed a conceptual framework and econometric model to empirically investigate (1) the marketing communication effects on off-line and online purchase fu...
Article
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Customers can interact with and create value for firms in a variety of ways. This article proposes that assessing the value of customers based solely upon their transactions with a firm may not be sufficient, and valuing this engagement correctly is crucial in avoiding undervaluation and overvaluation of customers. We propose four components of a c...
Article
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Managers and investors need information about the performance and future prospects of a firm. If information is relevant in steering a business, it is also relevant for its investors’ investment decisions. Recent initiatives demand information that supplements and complements a firm’s financial statements to bridge the gap between financial stateme...
Article
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Recent years have seen the introduction of a “marketing dashboard” that brings the firm’s key marketing metrics into a single display. Service firms across industries have created such dashboards either by themselves or together with a dashboard service provider. This article examines the reasons for this development and explains what dashboards ar...
Conference Paper
A competitive implementation of customer relationship management (CRM) in retail banking requires business processes aligned to the value contribution. The objective of this paper is to derive a reference process on macro-level from industry best practice and validate its applicability in a survey. Furthermore, we introduce a new method for evaluat...
Article
Full-text available
Abstract Marketing dashboards,have,become,far more,common,in organizationsof all sizes and in virtually all industry types. Marketers spend,a significant amount,of time trying to identify the “right“ metrics and communicate,them effectively to internal constituents,in an effort to better understand,(and in some cases,even justify) the relationships...
Article
Full-text available
Recent initiatives demand information that supplements and complements a firm's financial statements to bridge the gap between financial statement capabilities and financial reporting objectives. Such information assists investors' decision making by explaining the main trends and factors that underlie the development, performance, and position of...
Article
Full-text available
This paper illustrates a new model for valuing firms with contractual relationships based on customer lifetime values. The main idea of this model is to link the firms customer base value to its shareholders value. Thereby, the firm’s customer base value is the sum of the customer lifetime values of its current and future customers (Customer Equity...
Article
We develop a model for firms with contractual customer relationships to link customer metrics (such as customer cash flow, number of customers, and customer retention) to customer equity and shareholder value. This model allows us to calculate a firm's shareholder value and to evaluate the effect of changes in customer metrics on shareholder value....

Citations

... Research during this period focused on cross-channel integration (Gallino and Moreno 2014;Cao and Li 2015), and customer experience in an integrated omnichannel setting (de Haan et al. 2018;Cui et al. 2020). The growing use of mobile devices, increasing influence of consumer's social network, privacy concerns, as well as increasing focus on cross-channel integration are key features of the still evolving era 3. ...
... In addition, production and logistics processes must be optimized and simplified and warehousing must be minimized in order to compete with the cost and time advantages of vertical and pure online retailers [7]. However, numerous studies [8,10,12,19,21,22] demonstrate the positive effects of the use of new interactive media on sales in the classic operating and sales channels of retail trade. They offer a number of methods to track and analyze green customer behavior in order to build long-term relationships and use the potential of these relationships in a value-driven way. ...
... Likewise, relationship equity (RE) as a moderating variable does not strengthen the effect of brand equity on customer loyalty. Price fairness has no effect on customer loyalty and relationship equity as moderating variables are thought to be due to differences in characteristics between the courier service industry and other service industries (Ou et al., 2017). In addition, RE does not have an effect as a moderating variable, which is thought to be caused during the process of shipping goods, customer service involvement with customers does not require intensive service except when there is a complaint for late delivery, goods damaged in transit, not according to orders and others. ...
... Second, studies focus on the effects touchpoints have on buying behavior along the journey the customer takes to illuminate differences in the significance different touchpoints have on buying behavior. These studies identify critical touchpoints, i.e., "moments of truth" [40], that have a high impact on a buying decision [6,13], using so-called attribution models. Attribution models explain the performance of single touchpoints as well as effects of their combined usage in multitouchpoint environments [4]. ...
... The NPS measures the willingness of a person (a customer or an employee) to recommend a company, a product or working conditions to relevant others, such as family members, friends or colleagues on a scale from 0 (very unlikely) to 10 (very likely). This ensures a thorough self-evaluation whether to recommend a company or not (De Haan et al., 2015). Only responses 9 and 10 are seen as active promotors, whereas responses from 0 to 6 are valued as "sceptical", because only a very positive evaluation leads to active, promoting behavior (Eklof et al., 2020). ...
... Inbound marketing or attraction marketing offers information of interest to people surfing the Internet to convert them into visitors, readers, followers, or customers on a given website (Cheung et al., 2020;Huarng et al., 2021;Opreana & Vinerean, 2015;Verhoef et al., 2021;Wiesel et al., 2011). Therefore, it involves applying the necessary marketing techniques so that customers find a certain website, become attracted to its content, proceed to register on the website, feel satisfied with the navigation or tour, remain on the website for a long time, repeat the visit in the future, and possibly recommend the website to others (Halbheer et al., 2014;Karakas, 2009). ...
... We can furthermore investigate if there are synergy effects between the banner ads and the flyer, i.e., if being exposed to both advertising forms increases the purchase likelihood beyond the two individual effects (i.e., positive synergy) or if they weaken each other since they might be substitutes (i.e., negative synergy). This setup of distributing flyers is somewhat in line with the study by Wiesel et al. (2011), although they have conducted and analyzed their experiment at a higher level of aggregation, namely at the regional level instead of the individual consumer level. ...
... Çelik & Özerkek, 2009;Dées & Brinca, 2013 ;Gelper, Lemmens & Croux, 2007;Van Aarle & Kappler, 2012). As suggested by Ou et al. (2014) or Hampson et al. (2020), a distinction between the national consumer confidence (i.e., an individual's perception about the recent and future macroeconomic climate), and personal consumer confidence (an individual's perception about changes in their recent and future personal financial situation) improves understanding of the index. Vanlaer et al. (2020) and Malovaná et al. (2021) consider the personal consumer confidence more important than the national consumer confidence in determining household savings decisions. ...
... They use their formula with publicly reported financial data to create estimates of firm value for several firms and show that those estimates are reasonable for some of the firms. Skiera, Wiesel, and Schulze (2009) extend the model of Gupta, Lehmann, and Stuart (2005) by also considering the effect of debt. Based on these studies Srinivasan and Hanssens (2009) propose that improvements in CLV (or customer equity) are significantly related to firm value. ...
... This customer-based approach for marketing, tied with the large amount of customer-transaction data has highlighted the importance of estimating and understanding customer lifetime value (CLV) [2]. The concept of CLV presents future cash flow value produced from a customer in CRM [4]. CLV has been used in many researches and has been applied for a lot of purposes such as evaluating customers [5], customer segmentation [6], product recommendation [7], marketing and sales strategies [1]. ...