Creating Enduring Customer Value
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.
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Customer loyalty substantially contributes to organizational profitability.
“Empirical evidence across various service industries consistently demonstrates that customer loyalty substantially contributes to organizational profitability.”
From The MEDIATING ROLE OF CUSTOMER SATISFACTION IN THE RELATIONSHIP BETWEEN TRUST, EMOTIONAL BONDING, AND LOYALTY: EMPIRICAL EVIDENCE FROM AN SME AUTOMOTIVE WORKSHOP (2026) · cites this paper as Kumar and Reinartz (2016)
Cites
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Can we predict customer lifetime value?
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“One such approach defines CLV as a function of the time interval between e-mail contacts sent to a customer (Drèze and Bonfrer 2009).”
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Understanding customer experience throughout the customer journey
Lemon, K. N., & Verhoef, P. C. (2016) · Journal of Marketing · doi:10.1509/jm.15.0420 · Cited by 5,765 · see citing works
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Kannan, P. K., & Li, H. “. (2017) · International Journal of Research in Marketing · doi:10.1016/j.ijresmar.2016.11.006 · Cited by 1,707 · see citing works
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Bolton, R. N., McColl-Kennedy, J. R., Cheung, L., Gallan, A., Orsingher, C., Witell, L., & Zaki, M. (2018) · Journal of Service Management · doi:10.1108/josm-04-2018-0113 · Cited by 849 · see citing works
Technology-driven service strategy
Huang, M.-H., & Rust, R. T. (2017) · Journal of the Academy of Marketing Science · doi:10.1007/s11747-017-0545-6 · Cited by 263 · see citing works
Emerging technologies and analytics for a new era of value-centered marketing in healthcare
Agarwal, R., Dugas, M., Gao, G. (., & Kannan, P. K. (2020) · Journal of the Academy of Marketing Science · doi:10.1007/s11747-019-00692-4 · Cited by 175 · see citing works
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Understanding and managing customer relational benefits in services: a meta-analysis
Gremler, D. D., Van Vaerenbergh, Y., Brüggen, E. C., & Gwinner, K. P. (2020) · Journal of the Academy of Marketing Science · doi:10.1007/s11747-019-00701-6 · Cited by 148 · see citing works
Non-fungible tokens (NFTs): A review of pricing determinants, applications and opportunities
Kräussl, R., & Tugnetti, A. (2024) · Journal of Economic Surveys · doi:10.1111/joes.12597 · Cited by 96 · see citing works
Apriansyah, R., & Hermanto (2026) · Journal of Business Studies and Mangement Review · doi:10.22437/jbsmr.v9i2.58106
- Authors
- Kumar, V., & Reinartz, W.
- Affiliations
- Indian School of Business (IN)
- University of Cologne (DE)
- Corresponding author
- Kumar, V.
- Reinartz, Werner
- Venue
- Journal of Marketing
- Publisher
- SAGE Publications
- Published
- 2016-11
- Volume
- 80
- Issue
- 6
- Pages
- 36-68
- ISSN
- 0022-2429 (ISSN-L)
- 1547-7185
- OpenAlex
- W2443567239
- Cited by
- 829
- References
- 9
- Citations by year
- 2026: 106 · 2025: 122 · 2024: 105 · 2023: 78 · 2022: 95 · 2021: 94 · 2020: 84 · 2019: 53 · 2018: 55 · 2017: 29 · 2016: 7
- FWCI
- 92.96
- Type
- journal article
- Language
- en
- Open access
- closed
- Locations
- Journal of Marketing (publishedVersion)
- Kölner Universitäts PublikationsServer (Universität zu Köln) (publishedVersion)
- Digital Eprints Services at ISB (DESI) (Indian School of Business) (submittedVersion)
- Topics
- Social Sciences › Business, Management and Accounting › Organizational Behavior and Human Resource Management › Customer Service Quality and Loyalty
- Social Sciences › Business, Management and Accounting › Marketing › Customer churn and segmentation
- Social Sciences › Business, Management and Accounting › Marketing › Service and Product Innovation
- Keywords
- customer value, perceived value, customer lifetime value, customer engagement, customer satisfaction, customer loyalty, marketing mix, value measurement, value management, marketing decision-making
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