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Handbook of Research on Customer Equity in Marketing

Handbook of Research on Customer Equity in Marketing

Edited by V Kumar, Ph.D. Lenny Distinguished Chair and Regents Professor of Marketing and Denish Shah, Ph.D. Assistant Professor of Marketing and Assistant Director, J. Mack Robinson College of Business, Georgia State University, US
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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Extent: 520 pp
Hardback Price: $240.00 Web: $216.00
Publication Date: 2015
ISBN: 978 1 78100 497 5
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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.

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

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