Universität zu Köln

Kumar, V. and Reinartz, Werner ORCID: 0000-0002-2440-3117 (2016). Creating Enduring Customer Value. J. Mark., 80 (6). S. 36 - 69. THOUSAND OAKS: SAGE PUBLICATIONS INC. ISSN 1547-7185

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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.

Item Type:	Journal Article
Creators:	Creators Email ORCID ORCID Put Code Kumar, V. UNSPECIFIED UNSPECIFIED UNSPECIFIED Reinartz, Werner UNSPECIFIED orcid.org/0000-0002-2440-3117 UNSPECIFIED
URN:	urn:nbn:de:hbz:38-257821
DOI:	10.1509/jm.15.0414
Journal or Publication Title:	J. Mark.
Volume:	80
Number:	6
Page Range:	S. 36 - 69
Date:	2016
Publisher:	SAGE PUBLICATIONS INC
Place of Publication:	THOUSAND OAKS
ISSN:	1547-7185
Language:	English
Faculty:	Unspecified
Divisions:	Unspecified
Subjects:	no entry
Uncontrolled Keywords:	Keywords Language WORD-OF-MOUTH; COALITION LOYALTY PROGRAMS; LIFETIME VALUE; RELATIONSHIP MANAGEMENT; DYNAMIC-MODEL; SERVICE EXPERIENCES; PURCHASE INCIDENCE; RETENTION; ACQUISITION; CONSUMER Multiple languages Business Multiple languages
Refereed:	Yes
URI:	http://kups.ub.uni-koeln.de/id/eprint/25782