以投資者交易資料為基礎之顧客價值創造與產品創新策略

Customer Value Creation and Product Innovation Strategy based on Investor Transaction Database

任立中(Li-Chung Jen)；劉秀雯(Hsiu-Wen Liu)

顧客價值創造 ； 資料庫行銷 ； 市場區隔 ； 擇時擇股模型 ； Customer Value Creation ； Database Marketing ； Market Segmentation ； Timing and the Selection Ability Model

行銷科學學報

2卷2期（2006 / 10 / 01）

177 - 195

繁體中文

隨著金融市場愈來愈開放與競爭環境日益激烈，各家金融證券業者無不致力透過顧客關係管理系統的分析，以提供高附加價值的資訊服務或新的基金商品以吸引投資者的青睞。有鑑於此，本研究從分析投資者擇時擇股能力異質性的角度出發，曾在提出一套分析方法協助證券商從事資料庫行銷與顧客價值創造活動之參考。在本文中，作者從客戶個人交易資料庫中找出具有擇時與擇股能力的「理財專家」投資者，根據其股票選擇之操作資訊來建構出新的基金組合，並將模擬基金與市面上共同基金之報酬相互比較。研究結果顯示，以追蹤隨著時間動態性調整之「理財專家」市場區隔之投資標的，所建構的模擬基金A之報酬率，明顯優於市場上同期的共同基金之表現。另一方面，以追蹤靜態性組合之「理財專家」市場區隔之投資標的，所建構模擬基金B之報酬率，則呈現了大起大落的情況，在多頭市場時表現優異，但在空頭市場時則敬陪末座。作者亦探討本研究之方法結合資料庫行銷之利基與管理意涵，盼此成果可協助金融業者在規劃下列行銷策略之參考：（1）新基金組合商品之開發；（2）實施資料庫行銷與商品推薦資訊；（3）辨認顧客價值以深化關係行銷之成效。

The competition in financial market becomes rigorous day by day so that the securities companies are devoted to offering high value information service or issuing new mutual funds to attract investors' attention. In view of this, the authors are proceeding to analyze the heterogeneity of investors' market timing and selecting ability of stock; aiming at putting forward a set of analytical methods to helps security dealers to do database marketing and customer value creation strategy. Using online stock database, the authors identified the ＂Smart Investors＂ and simulated two new mutual funds based on the investing activities of these smart Investors. The authors also compared the performance of these two mutual funds with those existing mutual funds in the market. Results of this study show that the simulated mutual fund A, with dynamics adjustment of smart investor segmentation, performs superior to the marketed mutual funds. On the other hand, the simulated mutual fund B, with static smart investor segmentation, performs better when the market is in prosperity but performs inferior when the market is in recession. The authors also discuss the managerial implication of this study with the niche of database marketing. We hope this article can help financial managers to plan the following marketing strategies: (1) to develop the new mutual fund product; (2) to implement database marketing and set up sales recommendation system; and (3) to recognize customer's value to extend the success of relational marketing.

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