Research Article
Mathematical formulation of the purchase funnel by using knowledge space theory
Author(s): Yung-Tzu Lin, Chuan-Yi Chang*, Shein-Yung Cheng and Meng-Yun Lin
The retail industry provides customers with goods or services. Analyzing the purchase behavior of customers is critical for expanding the business. Therefore, managing the repurchase intention of customers is crucial. A sequence of purchase behaviors by each customer constitutes a set of purchase Customer Journeys (purchase CJs), which detail purchase pathways and repurchase behaviors. Purchase CJs are the actual retail transaction data. This study investigated purchase CJs and proposed a purchase funnel called CJ graph (CJG) by measure theory and knowledge space theory with actual retail transaction data. To achieve this objective, a Customer Journey Block (CJB), denoting “touchpoint,” is defined as a series of purchase behaviors during a period and used as the base of this method. Each touchpoint is allotted a measurable function, named Purchase Measure (PM). By integrat.. Read More»
DOI:
10.37532/2752-8081.23.7(1).01-19.
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