Publication:
The future of managing customers as assets

Placeholder

School / College / Institute

Program

KU-Authors

KU Authors

Co-Authors

Keiningham, T.L.
Bejou, D.

Publication Date

Language

Embargo Status

Journal Title

Journal ISSN

Volume Title

Alternative Title

Abstract

Most companies do a very poor job of determining the economic value of their customers. There are three primary reasons that this has been the case: (1) inadequacy of technology, (2) managements' internal focus on products (as opposed to customers), and (3) inadequacy of accounting systems. Each of these areas, however, has undergone rapid transformation in terms of their sophistication and managerial usefulness. As a result, it is manifest destiny that asset valuation and management will evolve to the evaluation of a company's most fundamental asset, its customers (i.e., customer lifetime value). Most managers have come to accept this inevitability. What managers fail to realize is just how radically an understanding of customer lifetime value will transform the business landscape. It will dramatically impact the breadth and type of data collected; the way managers view and segment customers; the types of experiences firms offer customers; the metrics executives provide to the financial markets; and the way companies structure and staff their organizations.

Source

Publisher

Taylor & Francis

Subject

Economics

Citation

Has Part

Source

Journal of Relationship Marketing

Book Series Title

Edition

DOI

10.1300/J366v05n02_08

item.page.datauri

Link

Rights

Copyrights Note

Endorsement

Review

Supplemented By

Referenced By

0

Views

0

Downloads

View PlumX Details