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Impact of Income on Customers' Loyalty: Are Customers with Higher Income more Loyal?

100%

Klopotan I., Vrhovec-Žohar K., Mahič E.

Business Systems Research Journal

2016

vol. 7

issue 1

81-88

Background: Recent research on customers’ loyalty mostly focuses on several indicators, such as price, income and promotion. However, the level of income and its impacts on customers' loyalty have not been investigated in greater details. Objectives: The main goal of this research is to investigate how different levels of income influence customers' loyalty. Methods/Approach: This paper tries to investigate customers' attitudes towards selected loyalty determinants, based on the survey research. Results: Several different factors which influence customers' loyalty are identified. Research results confirmed that the level of income has a significant influence on customers’ attitude towards loyalty determinants in Croatia. Conclusions: Besides the scientific contribution, this research on customers’ loyalty also has practical implications important when undertaking further steps for developing conceptual models of customers’ loyalty.

Computational Qualitative Economics – Using Computational Intelligence for Andvanced Learning of Economics in Knowledge Society

59%

Andrasik L.

Creative and Knowledge Society

2015

vol. 5

issue 2

1-15

In economics there are several complex learning themes and tasks connected with them difficult for deeper understanding of the learning subject. These are the reasons originating serious learning problems for students in the form of Virtual Environment because deeper understanding requires high level mathematical skills. Actually the most important feature for discerning this part of economics is the set of qualitative shapes emerging in discrete dynamic systems when they are undergoing iterations and/or experimentation with parameters and initial coordinates of variables. Among such shapes there are: - trajectories in evolving time; - trajectories in R2 of two variables; - cobweb portraits; - one control parameter bifurcation with first and/or with second variables; - two control parameters bifurcation in R2 (attractive basin of double controls); - cycles; - basin of attraction of two variables; - one Lyapunov’s exponent against some of control parameters; - Lyapunov’s exponents with two control parameters in R2; - absorbing area with possibility to create critical curves and/or attractors. The hope is that products of computational intelligence may help them solve such problems. Naturally, the meant complex economic problems and tasks have discrete, qualitative and nonlinear (noninvertible) nature resulting in increased level of difficulties. So with the term used in the head of this paper one has to understand narrowly: “qualitative nonlinear computational economics”. For better understanding the very nature of the problem we are using as appropriate example actual simulation of the model of new ICT products monopolies in virtual laboratory built in the routines setting dominantly in the software iDMC.

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1 Business Systems Research Journal

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1 Andrasik L.

1 Klopotan I.

1 Mahič E.

1 Vrhovec-Žohar K.

1 2016

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Impact of Income on Customers' Loyalty: Are Customers with Higher Income more Loyal?

Computational Qualitative Economics – Using Computational Intelligence for Andvanced Learning of Economics in Knowledge Society