The DOI matches its Crossref record; 7 of the 7 references it cites were found in a registry or an index.
Marketing Actions and the Value of Customer Assets: A Framework for Customer Asset Management
Open accessAbstract
This article develops a framework for assessing how marketing actions affect customers’lifetime value to the firm. The framework is organized around four critical actions that firms must take to effectively manage the asset value of the customer base: database creation, market segmentation, forecasting customer purchase behavior, and resource allocation. In this framework, customer lifetime value is treated as a dynamic construct, that is, it influences the eventual allocation of marketing resources but is also influenced by that allocation. By viewing customers as assets and systematically managing these assets, a firm can identify the most appropriate marketing actions to acquire, maintain, and enhance customer assets and thereby maximize financial returns. The article discusses in detail how to assess customer lifetime value and manage customers as assets. Then, it identifies key research challenges in studying customer asset management and the managerial challenges associated with implementing effective customer asset management practices.
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Citations
Cites
The antecedents and consequences of customer satisfaction for firms
Anderson, E. W., & Sullivan, M. W. (1993) · Marketing Science · doi:10.1287/mksc.12.2.125 · Cited by 4,610
Parasuraman, A. (2000) · Journal of Service Research · doi:10.1177/109467050024001 · Cited by 3,328
Self-citationMittal, V., & Kamakura, W. A. (2001) · Journal of Marketing Research · doi:10.1509/jmkr.38.1.131.18832 · Cited by 2,256
Bolton, R. N. (1998) · Marketing Science · doi:10.1287/mksc.17.1.45 · Cited by 1,948
Self-citationImplications of Loyalty Program Membership and Service Experiences for Customer Retention and Value
Bolton, R. N., Kannan, P. K., & Bramlett, M. D. (2000) · Journal of the Academy of Marketing Science · doi:10.1177/0092070300281009 · Cited by 1,157
Self-citationCounting Your Customers: Who-Are They and What Will They Do Next?
Schmittlein, D. C., Morrison, D. G., & Colombo, R. (1987) · Management Science · doi:10.1287/mnsc.33.1.1 · Cited by 679
Kamakura, W. A., Ramaswami, S. N., & Srivastava, R. K. (1991) · International Journal of Research in Marketing · doi:10.1016/0167-8116(91)90030-b · Cited by 240
Cited by
Return on Marketing: Using Customer Equity to Focus Marketing Strategy
Rust, R. T., Lemon, K. N., & Zeithaml, V. A. (2004) · Journal of Marketing · doi:10.1509/jmkg.68.1.109.24030 · Cited by 2,151
The Role of Relational Information Processes and Technology Use in Customer Relationship Management
Jayachandran, S., Sharma, S., Kaufman, P., & Raman, P. (2005) · Journal of Marketing · doi:10.1509/jmkg.2005.69.4.177 · Cited by 966
A Customer Lifetime Value Framework for Customer Selection and Resource Allocation Strategy
Venkatesan, R., & Kumar, V. (2004) · Journal of Marketing · doi:10.1509/jmkg.68.4.106.42728 · Cited by 948
Self-citationWhy Do Customer Relationship Management Applications Affect Customer Satisfaction?
Mithas, S., Krishnan, M. S., & Fornell, C. (2005) · Journal of Marketing · doi:10.1509/jmkg.2005.69.4.201 · Cited by 776
Managing Marketing Communications with Multichannel Customers
Thomas, J. S., & Sullivan, U. Y. (2005) · Journal of Marketing · doi:10.1509/jmkg.2005.69.4.239 · Cited by 286
Metadata
- Authors
- Berger, P. D., Bolton, R. N., Bowman, D., Briggs, E., Kumar, V., Parasuraman, A., & Terry, C.
- Venue
- Journal of Service Research
- Publisher
- SAGE Publications
- Published
- 2002-08
- Volume
- 5
- Issue
- 1
- Pages
- 39-54
- ISSN
- 1094-6705 (ISSN-L)
- 1552-7379
- OpenAlex
- W2172173851
- Cited by
- 257
- References
- 7
- FWCI
- 48.78
- Type
- journal article
- Language
- en
- Open access
- green
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