Customer lifetime value: A review
Document Type
Journal Article
Faculty
Faculty of Business and Law
School
School of Accounting, Finance and Economics
RAS ID
15164
Abstract
The concept of regarding customers as assets that should be managed and whose value should be measured is now accepted and recognized by academics and practitioners. This focus on customer relationship management makes it extremely important to understand customer lifetime value (CLV) because CLV models are an efficient and effective way to evaluate a firm's relationship with its customers. Assessment of CLV is especially important for firms in implementing customer-oriented services. In this paper we provide a critical review of the literature on the development process and applications of CLV.
DOI
10.2224/sbp.2012.40.7.1057
Access Rights
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Comments
Chang, W., Chang, C., & Li, Q. (2012). Customer lifetime value:A review. Social Behavior and Personality, 40(7), 1057-1064. Available here