Creating Enduring Customer Value

Kumar, V and Reinartz, W (2016) Creating Enduring Customer Value. Journal of Marketing, 80 (6). pp. 36-68.

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Abstract

One of the most important tasks in marketing is to create and communicate value to customers to drive their satisfaction, loyalty, and profitability. In this study, the authors assume that customer value is a dual concept. First, in order to be successful, firms (and the marketing function) have to create perceived value for customers. Toward that end, marketers have to measure customer perceived value and have to provide customer perceptions of value through marketing-mix elements. Second, customers in return give value through multiple forms of engagement (customer lifetime value, in the widest sense) for the organization. Therefore, marketers need to measure and manage this value of the customer(s) to the firm and have to incorporate this aspect into real-time marketing decisions. The authors integrate and synthesize existing findings, show the best practices of implementation, and highlight future research avenues.

Affiliation: Indian School of Business
ISB Creators:
ISB CreatorsORCiD
Kumar, VUNSPECIFIED
Item Type: Article
Uncontrolled Keywords: customer value, perceived value, customer lifetime value, CLV models, customer engagement
Subjects: Marketing
Business Strategy
Depositing User: Veeramani R
Date Deposited: 18 Sep 2018 13:25
Last Modified: 18 Sep 2018 13:25
URI: http://eprints.exchange.isb.edu/id/eprint/588
Publisher URL: https://doi.org/10.1509/jm.15.0414
Publisher OA policy: http://www.sherpa.ac.uk/romeo/issn/0022-2429/
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