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Customer Lifetime Value as the 21st Century Marketing Strategy Approach

Author

Listed:
  • Jan Rožek
  • Miroslav Karlíček

Abstract

Many studies show that marketing has recently lost its strategic position within companies. Customer Lifetime Value represents a relatively new approach to reestablishing marketing's position as the core management instrument in market driven companies. The main goal of this paper is to summarize the current development and basic principles of the Customer Lifetime Value conceptual model, which sets customers back into the position of key company assets. The paper presents findings that prove the need for a marketing focus change in order to be able to properly manage customer relationships and secure a company's long-term sustainable development.

Suggested Citation

  • Jan Rožek & Miroslav Karlíček, 2014. "Customer Lifetime Value as the 21st Century Marketing Strategy Approach," Central European Business Review, Prague University of Economics and Business, vol. 2014(2), pages 28-35.
    • Handle: RePEc:prg:jnlcbr:v:2014:y:2014:i:2:id:82:p:28-35
    DOI: 10.18267/j.cebr.82
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    References listed on IDEAS

    as
    1. Hasebur Rahman, 2013. "Customer Satisfaction and Loyalty: A Case Study from the Banking Sector," Central European Business Review, Prague University of Economics and Business, vol. 2013(4), pages 15-23.
    2. Miroslav Karlíček & Ivan Tomek & Miroslav Křížek, 2010. "Word-of-Mouth Marketing: An Integrated Model," Ekonomika a Management, Prague University of Economics and Business, vol. 2010(3).
    3. Slater, Stanley F. & Narver, John C., 2000. "The Positive Effect of a Market Orientation on Business Profitability: A Balanced Replication," Journal of Business Research, Elsevier, vol. 48(1), pages 69-73, April.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Customer Lifetime Value; Customer Equity; Customer Relationship; Customer Lifecycle;
    All these keywords.

    JEL classification:

    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing

    Statistics

    Access and download statistics

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