Optimal Customer Relationship Management Using Bayesian Decision Theory: An Application for Customer Selection

Vol. XLIV (November 2007), 579–594 579 © 2007, American Marketing Association ISSN: 0022-2437 (print), 1547-7193 (electronic) *Rajkumar Venkatesan is Associate Professor of Business Administration, Darden Graduate School of Business, University of Virginia, Charlottesville (e-mail: [email protected]). V. Kumar (VK) is ING Chair Professor in Marketing and Executive Director, ING Center for Financial Services, School of Business, University of Connecticut (e-mail: [email protected]). Timothy Bohling is Vice President, Market Intelligence, IBM Americas, Armonk, NY (e-mail: [email protected]). The authors thank the anonymous JMR reviewers for their valuable comments on previous versions of this article. They thank a multinational firm not only for providing access to the data used in this study but also for actively participating in the execution of the study. The study benefited from presentation at numerous places, including the Marketing Science Institute/ Yale conference on practitioner–academic collaboration and the IBM corporation. The authors thank Denise Beckmann, Dipak Dey, Gary Lilien, Leigh McAlister, Anil Menon, Scott Neslin, and Nalini Ravishanker for their suggestions on how to improve the contribution of this manuscript. They also thank Renu for the initial copyediting of the submitted manuscript. Peter Lenk served as guest associate editor for this article.