Customer Lifetime Value has become a very important metric in Customer Relationship Management. Various firms are increasing relying on CLV to manage and measure their business. CLV is a disaggregate metric that can be used to find customers who can be profitable in future and hence be used allocate resources accordingly (Kumar and Reinartz, 2006). Besides, CLV of current and future customers i...

a r t i c l e i n f o The customer lifetime value combines into one construct the transaction timing, spending and dropout processes that characterize the purchase behavior of customers. Recently, the potential relationship between these processes , either at the individual customer level (i.e. intra-customer correlation) or between customers (i.e. inter-customer correlation), has received more...

T article illustrates how simulation can be used in the classroom for modeling customer behavior in the context of customer lifetime value estimation. Operations research instructors could use this exercise to introduce multiperiod spreadsheet simulation models in a business setting that is of great importance in practice, and the simulation approach to teaching this subject could be of interes...

The authors evaluate the usefulness of customer lifetime value (CLV) as a metric for customer selection and marketing resource allocation by developing a dynamic framework that enables managers to maintain or improve customer relationships proactively through marketing contacts across various channels and to maximize CLV simultaneously. The authors show that marketing contacts across various ch...

Pervasive application of data mining technology is very important in analytical CRM software development when the distributed data warehouse is constructed. We propose a multi-factor customer classification evaluation model CLV/CL/CC which comprehensively considers customer lifetime value, customer loyalty and customer credit. It classifies clients with synthetic data mining algorithms. In this...

the aim of this study was to investigate the effect of management dimensions of fan relationship on fan lifetime value in iran football premier league. the research method was developmental with regard to the aim and exploratory considering the nature of the study. the data were gathered through interviews, observation, review of the related literature and questionnaires. the statistical popula...

Based on accepted advances in the marketing, economics, consumer behavior, and satisfaction literatures, we develop a micro-foundations model of a firm that needs to manage the quality of a product that is inherently heterogeneous in the presence of varying customer tastes or expectations for quality. Our model blends elements of the returns to quality, customer lifetime value, and service prof...