Hardback
Handbook of Research on Customer Equity in Marketing
Customer equity has emerged as the most important metric to manage firm performance. This Handbook covers a broad range of strategic and tactical issues related to defining, measuring, managing, and implementing the customer equity metric for maximizing firm performance. Drawing upon the wisdom of a global pool of leading scholars, the book serves as a comprehensive and authoritative guide on customer lifetime value and customer equity for marketing researchers, practitioners, and students worldwide.
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Critical Acclaim
Contributors
Contents
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Customer equity has emerged as the most important metric to manage firm performance and value. The Handbook of Research on Customer Equity in Marketing explores the tactical and strategic issues related to understanding, measuring, managing and implementing this tool.
Customer equity is the total combined customer lifetime values of all of a company’s customers and includes Value Equity, Brand Equity and Relationship Equity. It determines the true value of a company in that it considers the future revenue of the customer base relative to other companies. Through a combination of perspectives, this Handbook analyzes the topic and considers risk alongside strategy and offers state-of-the-art research on the field. Covering all bases, it begins with exploring the evolution of customer equity and concludes with implications of customer equity implication for the future.
Drawing upon the wisdom of a global pool of leading scholars, this Handbook serves as a comprehensive and authoritative guide on customer equity for marketing scholars, practitioners, and students.
Customer equity is the total combined customer lifetime values of all of a company’s customers and includes Value Equity, Brand Equity and Relationship Equity. It determines the true value of a company in that it considers the future revenue of the customer base relative to other companies. Through a combination of perspectives, this Handbook analyzes the topic and considers risk alongside strategy and offers state-of-the-art research on the field. Covering all bases, it begins with exploring the evolution of customer equity and concludes with implications of customer equity implication for the future.
Drawing upon the wisdom of a global pool of leading scholars, this Handbook serves as a comprehensive and authoritative guide on customer equity for marketing scholars, practitioners, and students.
Critical Acclaim
‘This comprehensive Handbook makes the persuasive case that maximizing customer equity is a strategic imperative. This beautifully curated assembly of the best thinkers on this topic will give the reader a deeper understanding of the key elements of customer equity and valuable guidance on how to overcome the implementation challenges. Everything you need to know about customer equity is right here in one place.’
– George Day, University of Pennsylvania, US
‘An exceptionally comprehensive and superbly scholarly volume on the emerging research on customer equity. It is a rare collection of world class scholars who have contributed to this Handbook.’
– Jagdish N. Sheth, Emory University, US
– George Day, University of Pennsylvania, US
‘An exceptionally comprehensive and superbly scholarly volume on the emerging research on customer equity. It is a rare collection of world class scholars who have contributed to this Handbook.’
– Jagdish N. Sheth, Emory University, US
Contributors
Contributors: L. Aksoy, E.T.Anderson, R.N. Bolton, A. Christodoulopoulou, Y. Dong, M. Eisenbeiss, P.S. Fader, M. Haenlein, D.M. Hanssens, B.G.S. Hardie, T.L. Keiningham, J. Kim, T.J. Kim, G. Knox, Y.A.Komarova, M. Krafft, N. Krishnamoorthy, V. Kumar, S. Lee, D.R. Lehmann, R.P. Leone, M. Lewis, A. Luo, M. Nejad, S.A. Neslin, A. Pansari, K. Peters, J.A. Petersen, G. Ramani, W. Reinartz, R.T. Rust, D.E. Sexton, D.E. Shah, G. Shukla, B. Skiera, R. Srinivasan, S. Srinivasan, C.O. Tarasi, R. Venkatesan, P.C. Verhoef , J. Villanueva, T. Wiesel, S. Yoo
Contents
Contents:
Introduction: The Evolution of Customer Equity
V. Kumar and Denish Shah
PART 1: UNDERSTANDING AND MEASURING CUSTOMER EQUITY
1. Drivers of Customer Equity
Roland T. Rust, James Kim, Yue Dong, Tom J. Kim and Seoungwoo Lee
2. Aggregate- and Individual-level Customer Lifetime Value
V. Kumar and Anita Pansari
3. Simple Probability Models for Computing CLV and CE
Peter S. Fader and Bruce G. S. Hardie
4. Incorporating Dynamics in Customer Lifetime Value Models
Michael Lewis
5. The Value of Flexibility: Real Options and Customer Lifetime Value
Michael Haenlein
PART II IDENTIFYING KEY DRIVERS TO AUGMENT CUSTOMER EQUITY
6. Managing Customer Loyalty for Maximize Customer Equity
Werner Reinartz and Maik Eisenbeiss
7. Leveraging Product Returns to Maximize Customer Equity
J. Andrew Petersen and Eric T. Anderson
8. Word-of-Mouth and Marketing Effects on Customer Equity
Dominique M. Hanssens, Julian Villanueva, and Shijin Yoo
9. The Power of Customer Referrals
Robert P. Leone and Angeliki Christodoulopoulou
PART III: APPLYING THE CUSTOMER EQUITY CONCEPT FOR ENHANCING FIRM PERFORMANCE
10. Customer Acquisition Strategies: A Customer Equity Management Perspective
Kay Peters, Peter C. Verhoef, and Manfred Krafft
11. The Chain of Effects from Customer Satisfaction to Customer Profitability
Timothy L. Keiningham, Lerzan Aksoy, Yuliya A. Komarova and Mohammad Nejad
12. Customer-lifetime-value-based Resource Allocation
Rajkumar Venkatesan
13. Customer Mindset Metrics and Firm Performance
Shuba Srinivasan
PART IV: STRATEGIC MANAGEMENT OF CUSTOMER EQUITY
14. Risk Considerations in the Management of Customer Equity
Ruth N. Bolton and Crina O. Tarasi
15. Co-Managing Brand Equity and Customer Equity
Anita Luo, Donald R. Lehmann, Scott A. Neslin.
16. Customer Equity Management – Opportunities and Threats from New Technologies
Raji Srinivasan
17. Stop Grouping and Start Regulating – A New Approach to Social Media Marketing
V. Kumar, Nandini Krishnamoorthy and Gayatri Shukla
PART V: IMPLEMENTING CUSTOMER EQUITY IN FIRMS
18. Implementing Marketing Return Metrics in Organizations
Donald E. Sexton
19. Interaction Orientation and Complaint Handling
Girish Ramani and George Knox
20. Customer Equity Reporting
Thorsten Wiesel and Bernd Skiera
Conclusion: The Future of Customer Equity
V. Kumar and Gayatri Shukla
Index
Introduction: The Evolution of Customer Equity
V. Kumar and Denish Shah
PART 1: UNDERSTANDING AND MEASURING CUSTOMER EQUITY
1. Drivers of Customer Equity
Roland T. Rust, James Kim, Yue Dong, Tom J. Kim and Seoungwoo Lee
2. Aggregate- and Individual-level Customer Lifetime Value
V. Kumar and Anita Pansari
3. Simple Probability Models for Computing CLV and CE
Peter S. Fader and Bruce G. S. Hardie
4. Incorporating Dynamics in Customer Lifetime Value Models
Michael Lewis
5. The Value of Flexibility: Real Options and Customer Lifetime Value
Michael Haenlein
PART II IDENTIFYING KEY DRIVERS TO AUGMENT CUSTOMER EQUITY
6. Managing Customer Loyalty for Maximize Customer Equity
Werner Reinartz and Maik Eisenbeiss
7. Leveraging Product Returns to Maximize Customer Equity
J. Andrew Petersen and Eric T. Anderson
8. Word-of-Mouth and Marketing Effects on Customer Equity
Dominique M. Hanssens, Julian Villanueva, and Shijin Yoo
9. The Power of Customer Referrals
Robert P. Leone and Angeliki Christodoulopoulou
PART III: APPLYING THE CUSTOMER EQUITY CONCEPT FOR ENHANCING FIRM PERFORMANCE
10. Customer Acquisition Strategies: A Customer Equity Management Perspective
Kay Peters, Peter C. Verhoef, and Manfred Krafft
11. The Chain of Effects from Customer Satisfaction to Customer Profitability
Timothy L. Keiningham, Lerzan Aksoy, Yuliya A. Komarova and Mohammad Nejad
12. Customer-lifetime-value-based Resource Allocation
Rajkumar Venkatesan
13. Customer Mindset Metrics and Firm Performance
Shuba Srinivasan
PART IV: STRATEGIC MANAGEMENT OF CUSTOMER EQUITY
14. Risk Considerations in the Management of Customer Equity
Ruth N. Bolton and Crina O. Tarasi
15. Co-Managing Brand Equity and Customer Equity
Anita Luo, Donald R. Lehmann, Scott A. Neslin.
16. Customer Equity Management – Opportunities and Threats from New Technologies
Raji Srinivasan
17. Stop Grouping and Start Regulating – A New Approach to Social Media Marketing
V. Kumar, Nandini Krishnamoorthy and Gayatri Shukla
PART V: IMPLEMENTING CUSTOMER EQUITY IN FIRMS
18. Implementing Marketing Return Metrics in Organizations
Donald E. Sexton
19. Interaction Orientation and Complaint Handling
Girish Ramani and George Knox
20. Customer Equity Reporting
Thorsten Wiesel and Bernd Skiera
Conclusion: The Future of Customer Equity
V. Kumar and Gayatri Shukla
Index
