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.
Contents: Introduction: The Evolution of Customer Equity: From an important metric to a way of thinking and doing business V. Kumar and Denish Shah PART 1: UNDERSTANDING & MEASURING CUSTOMER EQUITY 1. Drivers of Customer Equity Roland T. Rust, James Kim, Yue Dong, Tom J. Kim, and Seoungwoo Lee 2. Aggregate-Level 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: Incorporating the (Real) Option of Firing a Customer Tomorrow into Today's Customer Lifetime Value Michael Haenlein PART II IDENTIFYING KEY DRIVERS TO AUGMENT CUSTOMER EQUITY 6. Managing Customer Loyalty for Maximizing 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: Repairing Broken Connections 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. Opportunities and Threats from the Effects of New Technologies on Customer Equity Management 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 Metrics in Organizations: Opportunities and Challenges Donald E. Sexton 19. Interaction Orientation and Complaint Handling: Implications for Building Customer Equity Girish Ramani & George Knox 20. Customer Equity Reporting Thorsten Wiesel and Bernd Skiera Conclusion: The Future of Customer Equity V. Kumar and Gayatri Shukla
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