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A Customer Lifetime Value-Based Approach to Marketing in the Multichannel, Multimedia Retailing Environment

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  • Kumar, V.

Abstract

This paper proposes a multichannel, multimedia communications framework based on the concept of Customer Lifetime Value. The framework begins with customer information from the company's database, segments the customers based on the value they provide to the company, and advocates sending targeted messages using differentiated modes of communication. The framework also closes the communication loop by identifying the appropriate modes of inbound communication for the four customer segments (“Icons,” “Go-Getters,” “Opulents,” and “Misers”), and proposes customized firm responses based on the nature/purpose of the inbound communication call. The article presents this framework in both B2C and B2B settings, offers managerial implications for implementing this framework and outlines future research directions.

Suggested Citation

  • Kumar, V., 2010. "A Customer Lifetime Value-Based Approach to Marketing in the Multichannel, Multimedia Retailing Environment," Journal of Interactive Marketing, Elsevier, vol. 24(2), pages 71-85.
  • Handle: RePEc:eee:joinma:v:24:y:2010:i:2:p:71-85
    DOI: 10.1016/j.intmar.2010.02.008
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    References listed on IDEAS

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    2. Neeraj Arora & Xavier Dreze & Anindya Ghose & James Hess & Raghuram Iyengar & Bing Jing & Yogesh Joshi & V. Kumar & Nicholas Lurie & Scott Neslin & S. Sajeesh & Meng Su & Niladri Syam & Jacquelyn Thom, 2008. "Putting one-to-one marketing to work: Personalization, customization, and choice," Marketing Letters, Springer, vol. 19(3), pages 305-321, December.
    3. V. Kumar & Rajkumar Venkatesan & Tim Bohling & Denise Beckmann, 2008. "—The Power of CLV: Managing Customer Lifetime Value at IBM," Marketing Science, INFORMS, vol. 27(4), pages 585-599, 07-08.
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    Cited by:

    1. repec:eee:jouret:v:93:y:2017:i:1:p:96-119 is not listed on IDEAS
    2. repec:eee:joreco:v:25:y:2015:i:c:p:106-114 is not listed on IDEAS
    3. repec:eee:joreco:v:21:y:2014:i:1:p:69-76 is not listed on IDEAS
    4. Claus, Bart & Geyskens, Kelly & Millet, Kobe & Dewitte, Siegfried, 2012. "The referral backfire effect: The identity-threatening nature of referral failure," International Journal of Research in Marketing, Elsevier, vol. 29(4), pages 370-379.
    5. Carmen Balan & Mirela-Patricia Zegreanu, 2012. "Insights into the Development of the Market of Mobile Marketing Services in Romania," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 14(Special N), pages 786-801, November.
    6. Yeliz Ekinci & Füsun Ulengin & Nimet Uray, 2014. "Using customer lifetime value to plan optimal promotions," The Service Industries Journal, Taylor & Francis Journals, vol. 34(2), pages 103-122, January.
    7. Nusa Petek & Maja Konecnik Ruzzier, 2013. "Brand Identity Development and the Role of Marketing Communications: Brand Experts’ View," Managing Global Transitions, University of Primorska, Faculty of Management Koper, vol. 11(1 (Spring), pages 61-78.
    8. repec:spr:irpnmk:v:15:y:2018:i:1:d:10.1007_s12208-017-0188-9 is not listed on IDEAS

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