Original Research

A marketing view of the customer value: Customer lifetime value and customer equity

A. M. Estrella-Ramón, M. Sánchez-Pérez, G. Swinnen, K. VanHoof
South African Journal of Business Management | Vol 44, No 4 | a168 | DOI: https://doi.org/10.4102/sajbm.v44i4.168 | © 2018 A. M. Estrella-Ramón, M. Sánchez-Pérez, G. Swinnen, K. VanHoof | This work is licensed under CC Attribution 4.0
Submitted: 13 April 2018 | Published: 31 December 2013

About the author(s)

A. M. Estrella-Ramón, Department of Management and Business Administration, University of Almeria, International Campus of Excellence in Agrifood, Spain
M. Sánchez-Pérez, Department of Management and Business Administration, University of Almeria, International Campus of Excellence in Agrifood, Spain
G. Swinnen, Faculty of Business Economics, University of Hasselt Campus Diepenbeek, Agoralaan, Belgium
K. VanHoof, Faculty of Business Economics, University of Hasselt Campus Diepenbeek, Agoralaan, Belgium

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Abstract

Throughout this research the customer valuation trend in marketing is going to be reviewed, emphasizing Customer Lifetime Value and Customer Equity measures. The main theoretical contributions in the development and evolution of the Customer Lifetime Value concept are analysed. Customer Lifetime Value is also differentiated from Customer Equity and Customer Profitability analysis to estimate customer value in terms of firm profitability. Customer Lifetime Value and Customer Equity concepts are formally defined. Additionally, a classification of a set of published researches into Customer Lifetime Value and/or Customer Equity is developed. This classification has been posited according to several criteria that serves as a guide to key requirements for developing these types of models. Finally,
several conclusions, suggestions and future research streams are highlighted.


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