JSM 2005 Online Program

Abstract #303985

This is the preliminary program for the 2005 Joint Statistical Meetings in Minneapolis, Minnesota. Currently included in this program is the "technical" program, schedule of invited, topic contributed, regular contributed and poster sessions; Continuing Education courses (August 7-10, 2005); and Committee and Business Meetings. This on-line program will be updated frequently to reflect the most current revisions.

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Activity Number:	22
Type:	Topic Contributed
Date/Time:	Sunday, August 7, 2005 : 2:00 PM to 3:50 PM
Sponsor:	Section on Statistics and Marketing
Abstract - #303985
Title:	A Model of the Purchase Quantity and Timing
Author(s):	Enping (Shirley) Mai*+ and Raja Velu
Companies:	Syracuse University and Syracuse University
Address:	Whitman School of Management, Syracuse, NY, 13244, United States
Keywords:	Purchase timing and quantity ; Repeated buyers ; Online B2B companies ; Direct marketing
Abstract:	Longterm and repeated buyers are important for direct marketing companies to decide where the retention efforts should be focused, especially for online business-to-business (B2B) companies. To predict how much the repeated buyers will spend and when they will come back, statistical models have been developed in the marketing literature to aid traditional and new online grocery retailers and analyze the impact of various marketing activities on sales. However, under B2B setting, there is no regularity on the purchase frequency and purchase quantity compared to the grocery products. We develop a predictive model that takes into account the heterogeneity of the customers. Transactional data on recency, frequency, and monetary value along with the demographics are used to demonstrate the approach and compare with the current models.

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