Your browser does not support the PubReader view.
Go to this page to see a list of supporting browsers.
Korean Academic Society of Business Administration
[ Article ]
korean management review - Vol. 49, No. 2, pp.305-330
ISSN: 1226-1874 (Print)
Print publication date 30 Apr 2020
Received 17 Dec 2019 Accepted 23 Jan 2020
DOI: https://doi.org/10.17287/kmr.2020.49.2.305

경쟁 시장 환경에서 고객 관계 관리 전략의 차별적 효과에 관한 연구: 통신 산업 사례

송태호* ; 김지윤**
*(주저자) 부산대학교 경영학과 thsong@pusan.ac.kr
**(교신저자) 전남대학교 경영학부 jykim2016@jnu.ac.kr
The Differential Effect of Customer Relationship Management Strategy in the Competitive Marketing Environment: The Case of the Telecommunication Industry
Tae Ho Song* ; Ji Yoon Kim**
*Professor, School of Business Administration, Pusan National University, First Author
**Assistant Professor, Dept of Business Administration, Chonnam National University, Corresponding Author

초록

고객 관계의 중요성에 대한 전반적인 인식과 고객 관계 관리 전략의 광범위한 활용은 마케팅 분야에서 전통적으로 강조되어 왔다. 하지만, 고객 관계 관리 전략의 효과성에 대한 의문 역시 존재해왔고, 그 효과적 활용 방법에 대한 명확한 기준이 부족했다. 본 연구는 통신 산업의 실증 데이터를 바탕으로 시장 상황에 따라 고객 관계 관리 전략의 성과를 비교하여 그 차별적 효과를 이론적으로 밝혀냄으로써, 경쟁 상황 속에서 기업의 고객 관계 관리 전략의 효과적 실행을 위한 실무적 시사점을 제공하고자 한다. 구체적으로 본 연구에서는 고객 관계 관리 전략을 고객 획득 전략과 고객 유지 전략으로 구분하고, 고객 자산으로 계량화된 각 전략의 성과가 기업 성과에 미치는 영향을 실증적으로 조사하였다. 또한, 다양한 시장 환경 요인들 중 고객 관계 관리에 중요한 영향을 줄 수 있는 시장 성장률과 경쟁 구도(선두기업 vs. 추격기업)의 영향을 비교 분석하였다. 분석 결과, 시장 성장률과 경쟁 구도에 따른 고객 관계 관리 전략의 차별적 효과가 유의미하게 나타났다. 첫째, 선두 기업의 경우 전반적으로 고객 관계 관리 전략에 대한 전통적 관점과 유사하게 고객 유지 전략의 효과가 고객 획득 전략의 효과를 압도한다. 둘째, 선두 기업에 대한 고객 유지 전략의 압도적 효과는 시장 성장률이 높은 성장기 보다는 오히려 성숙기에 더 높게 나타나며, 이는 두 전략의 효과가 시장 성장률에 따라 동적으로 변화함을 의미한다. 셋째, 추격 기업의 경우 선두 기업 그리고 고객 관계 관리 전략의 전통적 관점과 달리 고객 유지 전략의 효과가 고객 획득 전략을 압도하지 못한다. 넷째, 고객 획득 전략과 고객 유지 전략 효과의 관계는 시장 성장률에 따라 큰 동적인 변화가 있다. 추격 기업의 경우 성장기에 고객 유지 전략의 효과가 큰 반면 성숙기에 오히려 고객 획득 전략의 효과가 큰 것으로 나타났다. 이상의 결과는 통신 산업의 경우 경쟁하는 두 기업의 고객 관계 관리 전략에 있어서 전통적 마케팅 이론에서 강조되어왔던 고객 유지 전략이 항상 최적의 전략이 아닐 수 있음을 암시하고, 추격 기업의 경우 오히려 고객 획득 전략이 고객 관계 관리에 있어서 더 효과적인 경쟁적 전략일 수 있음을 보여준다. 본 연구는 경쟁 상황에서 고객 관계 관리 전략에 대한 새로운 결과와 시사점을 도출하였다는데 그 공헌이 있다.

Abstract

The importance of customer relationships and the active use of customer relationship management strategies have been emphasized as important marketing concepts. However, questions about the effectiveness of the customer relationship management strategy have also been continuously raised, and it has been recognized that there is a lack of clear criteria for how it works. Based on the empirical data, this study compares the performance of the customer relationship management strategy based on the factors of the competitive market and theoretically identifies its differential effects, providing practical implications for the effective implementation of the firm's customer relationship management strategy in the competitive market. Specifically, this study identified customer relationship management strategies between customer acquisition strategies and customer retention strategies and quantified them into customer equity to demonstrate their impact on firm performance. In addition, the impact of market growth and competition structure(Leader vs. Follower) were compared and analyzed as key factors among market environmental factors that could affect customer relationship management. The analysis revealed a significant differential effect of the customer relationship management strategy based on market growth and competitive structure. First, in general, the effectiveness of customer retention strategies for a leader is superior to the effectiveness of customer acquisition strategies, similar to the traditional view of customer relationship management strategies. Second, the effect of customer retention strategies on a leader appears to be superior to market growth in maturity, indicating that the effects of both strategies change dynamically according to market growth. Third, unlike the traditional view of customer relationship management strategy, the effectiveness of the customer retention strategy for a follower was not superior to the effectiveness of the customer acquisition strategy. Fourth, the relationship between the customer acquisition strategy and the customer retention strategy effect for a follower was a major dynamic change with the market growth. In other words, it has been shown that the customer retention strategy has a great effect in the growth phase, while the customer acquisition strategy has a greater effect in the maturity phase for a follower. The above results suggest that the customer retention strategy in the competitive market may not always be the best, as highlighted by traditional marketing theories, and rather, for a follower, the customer acquisition strategy may be a more effective competitive strategy. This study presents new results and implications for customer relationship management strategies in competitive situations.

Keywords:

Customer Relationship Management, Customer Retention Strategy, Customer Acquisition Strategy, Customer Equity, Customer Lifetime Value, Competitive Market, Market Growth Rate

키워드:

고객 관계 관리, 고객 유지 전략, 고객 획득 전략, 고객 자산, 고객 생애 가치, 시장 경쟁, 시장 성장률

Acknowledgments

이 논문은 2018년 대한민국 교육부와 한국연구재단의 지원을 받아 수행된 연구임(NRF-2018S1A5A2A03029067)

References

  • Berger, P. D., and Bechwati, N. N. (2001), “The allocation of promotion budget to maximize customer equity,” Omega, 29(1), pp.49-61. [https://doi.org/10.1016/S0305-0483(00)00023-2]
  • Best, R. J. (2009). Market-based management: Strategies for growing customer value and profitability.
  • Blattberg, R. C., and Deighton, J. (1991), “Interactive marketing: exploiting the age of addressability,” Sloan Management Review, 33(1), pp.5-15.
  • Blattberg, R. C., and Deighton, J. (1996), “Manage marketing by the customer equity test,” Harvard Business Review, 74(4), pp.136.
  • Boulding, W., Staelin, R., Ehret, M., and Johnston, W. J. (2005), “A customer relationship management roadmap: What is known, potential pitfalls, and where to go,” Journal of Marketing, 69(4), pp.155-166. [https://doi.org/10.1509/jmkg.2005.69.4.155]
  • Choi, Y. B., Lee, J., Yoo, S., and Yoo, Y. K. (2019), “Value relevance of customer equity beyond financial statements: evidence from mobile telecom industry,” Asia-Pacific Journal of Accounting and Economics, 26(3), pp.281-300. [https://doi.org/10.1080/16081625.2017.1386575]
  • Dekimpe, M. G., and Hanssens, D. M. (1995), “Empirical generalizations about market evolution and stationarity,” Marketing Science, 14(3_supplement), pp.109-121. [https://doi.org/10.1287/mksc.14.3.G109]
  • Dong, Y., Yao, Y., and Cui, T. H. (2011), “When acquisition spoils retention: Direct selling vs. Delegation under CRM,” Management Science, 57(7), pp.1288-1299. [https://doi.org/10.1287/mnsc.1110.1344]
  • Dowling, G. R., and Uncles, M. (1997), “Do customer loyalty programs really work?,” Sloan Management Review, 38, pp.71-82.
  • Fruchter, G. E., and Zhang, Z. J. (2004), “Dynamic targeted promotions: A customer retention and acquisition perspective,” Journal of Service Research, 7(1), pp.3-19. [https://doi.org/10.1177/1094670504266130]
  • Gandomi, A., and Zolfaghari, S. (2011), “A stochastic model on the profitability of loyalty programs,” Computers and Industrial Engineering, 61 (3), pp.482-488. [https://doi.org/10.1016/j.cie.2011.04.002]
  • Gandomi, A., and Zolfaghari, S. (2013), “Profitability of loyalty reward programs: An analytical investigation,” Omega, 41(4), pp.797-807. [https://doi.org/10.1016/j.omega.2012.10.003]
  • Gupta, S., Lehmann, D. R., and Stuart, J. A. (2004), “Valuing customers.,” Journal of Marketing Research, 41(1), pp.7-18. [https://doi.org/10.1509/jmkr.41.1.7.25084]
  • Hart, C. W., Heskett, J. L., and Sasser, J. W. (1990), “The profitable art of service recovery,” Harvard Business Review, 68(4), pp.148-156.
  • Homburg, C., Steiner, V. V., and Totzek, D. (2009), “Managing dynamics in a customer portfolio,” Journal of Marketing, 73(5), pp.70-89. [https://doi.org/10.1509/jmkg.73.5.70]
  • Jaworski, B. J., and Kohli, A. K. (1993), “Market orientation: antecedents and consequences,” Journal of Marketing, 57(3), pp.53-70. [https://doi.org/10.1177/002224299305700304]
  • Jones, T. O., and Sasser, W. E. (1995), “Why satisfied customers defect,” Harvard Business Review, 73(6), pp.88.
  • Kimbrough, M. D., McAlister, L., Mizik, N., Jacobson, R., Garmaise, M. J., Srinivasan, S., and Hanssens, D. M. (2009), “Commentaries and rejoinder to” marketing and firm value: metrics, methods, findings, and future directions,” Journal of Marketing Research, 46(3), pp.313-329. [https://doi.org/10.1509/jmkr.46.3.313]
  • Kumar, V. (2008), “Customer lifetime value—the path to profitability,” Foundations and Trends® in Marketing, 2(1), pp.1-96. [https://doi.org/10.1561/1700000004]
  • Kumar, V., and Petersen, J. A. (2005), “Using a customer-level marketing strategy to enhance firm performance: a review of theoretical and empirical evidence,” Journal of the Academy of Marketing Science, 33(4), pp. 504-519. [https://doi.org/10.1177/0092070305275857]
  • Kumar, V., and Reinartz, W. J. (2006), “Customer relationship management: A databased approach. Hoboken: Wiley.
  • Kumar, V., and Shah, D. (2009), “Expanding the role of marketing: from customer equity to market capitalization,” Journal of Marketing, 73(6), pp.119-136. [https://doi.org/10.1509/jmkg.73.6.119]
  • Koyck, L. M. (1954). Distributed Lags and Investment Analysis (Amsterdam: North-Holland Publishing Co., 1954). Koyck Distributed Lags and Investment Analysis.
  • Mahajan, V., Bretschneider, S. I., and Bradford, J. W. (1980), “Feedback approaches to modeling structural shifts in market response,” Journal of Marketing, 44(1), pp.71-80. [https://doi.org/10.1177/002224298004400110]
  • Martín-Herrán, G., McQuitty, S., and Sigué, S. P. (2012), “Offensive versus defensive marketing: What is the optimal spending allocation?,” International Journal of Research in Marketing, 29(2), pp.210-219. [https://doi.org/10.1016/j.ijresmar.2011.10.003]
  • McGahan, A. M., and Ghemawat, P. (1994), “Competition to retain customers,” Marketing Science, 13(2), pp.165-176. [https://doi.org/10.1287/mksc.13.2.165]
  • Min, S., Zhang, X., Kim, N., and Srivastava, R. K. (2016), “Customer acquisition and retention spending: An analytical model and empirical investigation in wireless telecommunications markets,” Journal of Marketing Research, 53(5), pp.728-744. [https://doi.org/10.1509/jmr.14.0170]
  • Morgan, R. M., and Hunt, S. D. (1994), “The commitment-trust theory of relationship marketing,” Journal of Marketing, 58(3), pp.20-38. [https://doi.org/10.1177/002224299405800302]
  • Musalem, A., and Joshi, Y. V. (2009), “Research note—How much should you invest in each customer relationship? A competitive strategic approach,” Marketing Science, 28(3), pp.555-565. [https://doi.org/10.1287/mksc.1080.0424]
  • Narayanan, M. (1985), “Managerial incentives for short‐term results,” The Journal of Finance, 40(5), pp.1469-1484. [https://doi.org/10.1111/j.1540-6261.1985.tb02395.x]
  • Narver, J. C., and Slater, S. F. (1990), “The effect of a market orientation on business profitability,” Journal of Marketing, 54(4), pp.20-35. [https://doi.org/10.1177/002224299005400403]
  • Pfeifer, P. E. (2011), “On estimating current-customer equity using company summary data,” Journal of Interactive Marketing, 25(1), pp.1-14. [https://doi.org/10.1016/j.intmar.2010.06.001]
  • Pfeifer, P. E., and Farris, P. W. (2004), “The elasticity of customer value to retention: The duration of a customer relationship,” Journal of Interactive Marketing, 18(2), pp. 20-31. [https://doi.org/10.1002/dir.20006]
  • Reichheld, F. F., and Sasser, W. E. (1990), “Zero defeofions: Quoliiy comes to services,” Harvard Business Review, 68(5), pp.105-111.
  • Reichheld, F. F., and Teal, T. (1996), “The loyalty effect: The hidden force behind growth,” Profits, and Lasting Value, Harvard Business School Press, Boston, MA.
  • Reinartz, W. J., and Kumar, V. (2000), “On the profitability of long-life customers in a noncontractual setting: An empirical investigation and implications for marketing,” Journal of Marketing, 64(4), pp.17-35. [https://doi.org/10.1509/jmkg.64.4.17.18077]
  • Reinartz, W., Thomas, J. S., and Kumar, V. (2005), “Balancing acquisition and retention resources to maximize customer profitability,” Journal of Marketing, 69(1), pp.63-79. [https://doi.org/10.1509/jmkg.69.1.63.55511]
  • Rust, R. T., Lemon, K. N., and Zeithaml, V. A. (2004), “Return on marketing: Using customer equity to focus marketing strategy,” Journal of marketing, 68(1), pp.109-127. [https://doi.org/10.1509/jmkg.68.1.109.24030]
  • Schulze, C., Skiera, B., and Wiesel, T. (2012), “Linking customer and financial metrics to shareholder value: The leverage effect in customer-based valuation,” Journal of Marketing, 76(2), pp.17-32. [https://doi.org/10.1509/jm.10.0280]
  • Shaffer, G., and Zhang, Z. J. (1995), “Competitive coupon targeting,” Marketing Science, 14 (4), pp.395-416. [https://doi.org/10.1287/mksc.14.4.395]
  • Shaffer, G., and Zhang, Z. J. (2002), “Competitive one-to-one promotions,” Management Science, 48(9), pp.1143-1160. [https://doi.org/10.1287/mnsc.48.9.1143.172]
  • Sheth, J. N., and Parvatiyar, A. (1995), “The evolution of relationship marketing,” International Business Review, 4(4), pp.397-418. [https://doi.org/10.1016/0969-5931(95)00018-6]
  • Sheth, J. N., and Sisodia, R. (1995), “Improving the Marketing Productivity. in Marketing Encyclopedia: Issues and Trends Shaping the Future,: Jeffrey Heilbrunn, ed. Chicago: American Marketing Association/NTC Publishing, pp.217-37.
  • Shin, J., and Sudhir, K. (2010), “A customer management dilemma: When is it profitable to reward one's own customers?,” Marketing Science, 29(4), pp.671-689. [https://doi.org/10.1287/mksc.1090.0547]
  • Shugan, S. M. (2005), “Brand loyalty programs: are they shams?,” Marketing Science, 24 (2), 185-193. [https://doi.org/10.1287/mksc.1050.0124]
  • Singh, S. S., Jain, D. C., and Krishnan, T. V. (2008), “Research Note—Customer Loyalty Programs: Are They Profitable?,” Management Science, 54(6), pp.1205-1211. [https://doi.org/10.1287/mnsc.1070.0847]
  • Skiera, B., Bermes, M., and Horn, L. (2011), “Customer equity sustainability ratio: A new metric for assessing a firm's future orientation,” Journal of Marketing, 75(3), pp.118-131. [https://doi.org/10.1509/jmkg.75.3.118]
  • Song, T. H. (2010). The Study on Customer Relationship Management in the Asymmetric Competitive Market. Unpublished doctoral dissertation, Korea University Business School, Seoul.
  • Song, T. H. (2018), “A Comparison of Customer Equity to Financial Performance Using Corporate Disclosure Data: The Relationship between the Core Components of Customer Equity and the Customer Retention Strategies,” Korea Marketing Review, 33(3), pp.39-71. [https://doi.org/10.15830/kmr.2018.33.3.39]
  • Song, T. H., and Kim, J. Y. (2016), “Dynamic Effect of Customer Equity on Firm Performance: Comparison between Leader and Follower,” Journal of Product Research, 34(2), pp. 1-10. [https://doi.org/10.36345/kacst.2016.34.2.001]
  • Song, T. H., and Kim, S. Y. (2019), “The Effect of the Competitive Environment on the Profitability of Long-term Orientation: Perspective of Customer Relationship Management,” Korea Marketing Review, 34(1), pp.75-95. [https://doi.org/10.15830/kmr.2019.34.1.75]
  • Song, T. H., Kim, S. Y., and Kim, J. Y. (2013), “Optimality of customer relationship management: does profitability really matter?,” Asia Marketing Journal, 15(3), pp.141-157.
  • Song, T. H., Kim, S. Y., and Kim, J. Y. (2016), “The dynamic effect of customer equity across firm growth: The case of small and mediumsized online retailers,” Journal of Business Research, 69(9), pp.3755-3764. [https://doi.org/10.1016/j.jbusres.2015.12.067]
  • Song, T. H., Kim, S. Y., Kim, H., and Lee, J. W. (2019), “Rival-benefiting effect of advertising: experimental extension and empirical investigation,” International Journal of Advertising, 38(4), pp.1-25. [https://doi.org/10.1080/02650487.2019.1612622]
  • Song, T. H., Kim, S. Y., and Ko, W. L. (2017), “Developing an effective loyalty program using goal-gradient behavior in tourism industry,” Journal of Travel and Tourism Marketing, 34(1), pp.70-81. [https://doi.org/10.1080/10548408.2015.1130110]
  • Song, T. H., Kim, S. Y., and Lee, J. H. (2009), “The relationship between customer equity and firm's profitability,” Korea Marketing Review, 24(4), 35-65.
  • Thomas, J. S. (2001), “A methodology for linking customer acquisition to customer retention,” Journal of Marketing Research, 38(2), pp. 262-268. [https://doi.org/10.1509/jmkr.38.2.262.18848]
  • Venkatesan, R., and Kumar, V. (2004), “A customer lifetime value framework for customer selection and resource allocation strategy,” Journal of Marketing, 68(4), pp.106-125. [https://doi.org/10.1509/jmkg.68.4.106.42728]
  • Villanueva, J., Bhardwaj, P., Balasubramanian, S., and Chen, Y. (2007), “Customer relationship management in competitive environments: The positive implications of a short-term focus,” Quantitative Marketing and Economics, 5(2), pp.99-129. [https://doi.org/10.1007/s11129-007-9022-8]
  • Villanueva, J., and Hanssens, D. M. (2007), “Customer equity: Measurement, management and research opportunitie,” Foundations and Trends® in Marketing, 1(1), pp.1-95. [https://doi.org/10.1561/1700000002]
  • Villas-Boas, J. M. (2015), “A short survey on switching costs and dynamic competition,” International Journal of Research in Marketing, 32(2), pp.219-222. [https://doi.org/10.1016/j.ijresmar.2015.03.001]
  • Wang, P. and Spiegel, T. (1994), “Database Marketing and Its Measurement of Success: Designing a Managerial Instrument to Calculate the Value of a Repeat Customer Base,” Journal of Direct Marketing, 8(2), pp.73-81. [https://doi.org/10.1002/dir.4000080210]
  • Wildt, A. R. (1976), “The empirical investigation of time dependent parameter variation in marketing models,” In AMA Educators’ Proceedings (pp.466-472).

• 저자 송태호는 현재 부산대학교 경영대학 경영학과 마케팅 전공 부교수로 재직 중이다. 고려대학교에서 경영학석사 및 박사를 취득하였다. 박사 학위 취득 이후에는 미국 UCLA에서 박사후연구원으로 일하였다. 주요연구분야는 계량경제모델, 고객관계관리, 고객자산, 고객생애가치, 신제품개발, 마케팅 수익성 등이다.

• 저자 김지윤은 현재 전남대학교 경영대학 경영학부 조교수로 재직 중이다. 고려대학교에서 경영학석사 및 박사를 취득하였다. LG전자 해외마케팅팀에서 3년 반 동안 해외마케팅, 유통관리, SCM업무를 담당하였다. 주요연구분야는 고객관계관리, 고액생애가치, 고객자산, 마케팅모델링, 국제 마케팅, 광고 및 프로모션 전략 등이다.