Driving Customer Equity How Customer Lifetime Value Is Reshaping Corporate Strategy

ISBN-10: 0684864665

ISBN-13: 9780684864662

Edition: 2000

List price: $53.00 Buy it from $3.00
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Description:

In their efforts to become more customer-focused, companies everywhere find themselves entangled in outmoded systems, metrics, and strategies rooted in their product-centered view of the world. Now, to ease this shift to a customer focus, marketing strategy experts Roland T. Rust, Valarie A. Zeithaml, and Katherine N. Lemon have created a dynamic new model they call "Customer Equity," a strategic framework designed to maximize every firm's most important asset, the total lifetime value of its customer base. The authors' Customer Equity Framework yields powerful insights that will help any business increase the value of its customer base. Rust, Zeithaml, and Lemon introduce the three drivers of customer equity -- Value Equity, Brand Equity, and Retention Equity -- and explain in clear, nontechnical language how managers can base their strategies on one or a combination of these drivers. The authors demonstrate in this breakthrough book how managers can build and employ competitive metrics that reveal their company's Customer Equity relative to their competitors. Based on these metrics, they show how managers can determine which drivers are most important in their industry, how they can make efficient strategic trade-offs between expenditures on these drivers, and how to project a financial return from these expenditures. The final section devotes two chapters to the Customer Pyramid, an approach that segments customers based on their long-term profitability, and an especially important chapter examines the Internet as the ultimate Customer Equity tool. Here the authors show how companies such as Intuit.com, Schwab.com, and Priceline.com have used more than one or all three drivers to increase Customer Equity. In this age of one-to-one marketing, understanding how to drive Customer Equity is central to the success of any firm. In particular,Driving Customer Equitywill be essential reading for any marketing manager and, for that matter, any manager concerned with growing the value of the firm's customer base.
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Book details

List price: $53.00
Copyright year: 2000
Publisher: Free Press
Publication date: 6/27/2000
Binding: Hardcover
Pages: 304
Size: 6.25" wide x 9.50" long x 1.25" tall
Weight: 1.232
Language: English

Roland T. Rust holds the David Bruce Smith Chair in Marketing at the Robert H. Smith School of Business at the University of Maryland, where he is Chair of the Marketing Department and directs the Center for e-Service. His lifetime achievement honors include the American Marketing Association’s Gilbert A. Churchill Award for contributions to marketing research, the Outstanding Contributions to Research in Advertising award from the American Academy of Advertising, the AMA’s Career Contributions to the Services Discipline Award, Fellow of the American Statistical Association, and the Henry Latan� Distinguished Doctoral Alumnus Award from the University of North Carolina at Chapel Hill.   He has won best article awards for articles in Marketing Science , Journal of Marketing Research , Journal of Marketing (twice), Journal of Advertising , and Journal of Retailing , as well as MSI’s Robert D. Buzzell Best Paper Award (twice).   His book, Driving Customer Equity (written with Valarie Zeithaml and Katherine Lemon) won the 2002 Berry-AMA Book Prize for the best marketing book of the previous three years.   His work has received extensive media coverage, including a Business Week cover story and an appearance on ABC World News Tonight with Peter Jennings .   He is the founder and Chair of the AMA Frontiers in Services Conference, and serves as founding Editor of the Journal of Service Research .    Professor Rust also is an Area Editor at Marketing Science , and serves on the editorial review boards of the Journal of Marketing Research , Journal of Marketing , and the Journal of Interactive Marketing .   He has consulted with many leading companies worldwide, including such companies as American Airlines, AT&T, Chase Manhattan Bank, Dow Chemical, DuPont, FedEx, IBM, Nortel, Procter & Gamble, Sears, Unilever, and USAA.  

Valarie Zeithaml is the Roy and Alice H. Richards Bicentennial Professor of Marketing and Associate Dean for the MBA Program at the Kenan-Flagler Business School of the University of North Carolina.

Preface
Acknowledgments
Beyond Brand Equity
The Case for Customer Equity
The Profitable Product Death Spiral
The True Lifetime Value of the Customer
The Customer Equity Framework
A Framework for Customer Equity
Driving Value Equity
Driving Brand Equity
Driving Retention Equity
Customer-Centered Strategy
Measuring Customer Equity
Evaluating Financial Impact
Strategic Analysis
Managing Customer Equity
The Customer Pyramid
Managing the Customer Pyramid
Customer Alchemy
The Internet as the Ultimate Customer Equity Tool
The Customer Equity Corporation
Appendices
Obtaining the Lifetime Value
Example of Customer Survey
Calculating the Importance of Customer Equity Drivers
Notes
Index
About the Authors
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