Customer Equity Management

The authors present an overview of a new approach to marketing—one that seeks to maximize customer equity by managing the customer asset. Using a resource-based view, the article provides a framework for approaching marketing through the lens of the customer asset. The authors propose that the ability to acquire, manage, and model customer information is a key asset of the firm that can be a source of sustained advantage. Challenges to the implementation of this approach and the changes that the approach necessitates in marketing strategy are discussed. The authors propose several areas for future research in the area of customer equity and management of the customer asset.

[1]  Note—The Capital Asset Pricing Model and Strategic Planning , 1985 .

[2]  V. Zeithaml.  Consumer Perceptions of Price, Quality, and Value: A Means-End Model and Synthesis of Evidence: , 1988 .

[3]  Timothy M. Devinney,et al.  Rethinking the product portfolio: a generalized investment model , 1988 .

[4]  K. R. Conner.  A Historical Comparison of Resource-Based Theory and Five Schools of Thought Within Industrial Organization Economics: Do We Have a New Theory of the Firm? , 1991 .

[5]  Gary W. Loveman,et al.  Putting the Service-Profit Chain to Work , 1994 .

[6]  Ruth N. Bolton,et al.  A Dynamic Model of the Duration of the Customer's Relationship with a Continuous Service Provider: The Role of Satisfaction , 1994 .

[7]  Paul Wang,et al.  Database marketing and its measurements of success , 1994 .

[8]  R. B. Woodruff,et al.  Customer value: The next source for competitive advantage , 1997 .

[9]  Katherine N. Lemon,et al.  A Dynamic Model of Customers’ Usage of Services: Usage as an Antecedent and Consequence of Satisfaction , 1999 .

[10]  Jacquelyn S. Thomas.  A Methodology for Linking Customer Acquisition to Customer Retention , 2001 .

[11]  Katherine N. Lemon,et al.  The Customer Pyramid: Creating and Serving Profitable Customers , 2001 .

[12]  R. Brodie,et al.  Towards a Theory of Marketplace Equity , 2002 .

[13]  Ruth N. Bolton,et al.  Marketing Actions and the Value of Customer Assets , 2002 .

[14]  Donald R. Lehmann,et al.  Linking Customer Assets to Financial Performance , 2002 .

[15]  Kevin Lane Keller,et al.  Relating Brandand Customer Perspectives on Marketing Management , 2002 .

[16]  B. Libai,et al.  Toward an Individual Customer Profitability Model , 2002 .

[17]  Gordon Swartz,et al.  Seven Barriers to Customer Equity Management , 2002 .