The authors' Customer Equity Framework yields powerful insights that will help any business increase the value of its customer base. Rust, Zeithaml, and Lemon introduce the three drivers of customer equity -- Value Equity, Brand Equity, and Retention Equity -- and explain in clear, nontechnical language how managers can base their strategies on one or a combination of these drivers. The authors demonstrate in this breakthrough book how managers can build and employ competitive metrics that reveal their company's Customer Equity relative to their competitors. Based on these metrics, they show how managers can determine which drivers are most important in their industry, how they can make efficient strategic trade-offs between expenditures on these drivers, and how to project a financial return from these expenditures. The final section devotes two chapters to the Customer Pyramid, an approach that segments customers based on their long-term profitability, and an especially important chapter examines the Internet as the ultimate Customer Equity tool. Here the authors show how companies such as Intuit.com, Schwab.com, and Priceline.com have used more than one or all three drivers to increase Customer Equity.
In this age of one-to-one marketing, understanding how to drive Customer Equity is central to the success of any firm. In particular, Driving Customer Equity will be essential reading for any marketing manager and, for that matter, any manager concerned with growing the value of the firm's customer base.
Much of marketing resembles design engineering - putting together concepts, data, analyses, and simulations to learn about the marketplace and to design effective marketing plans. While many view traditional marketing as art and some view it as science, the new marketing increasingly looks like engineering (that is, combining art and science to solve specific problems).
Several key forces are changing the marketer's job:Pervasive high-powered personal computers networked are everywhere. Exploding volumes of data are readily available.
Firms are reengineering marketing activities. And those firms are reorganizing more generally, leading to flatter organizations. Marketers need much more than concepts to fully exploit available resources: they need to move from conceptual marketing to marketing engineering. In this book we integrate concepts, analytic marketing techniques, and operational software for training the new generation of marketers, and help them become marketing engineers.
This book offers a way to predict which brand a buyer will purchase. We look at brand performance within a product category and test this in different countries with very different cultures. This method is called the Predictive Brand Choice (PBC) model. It can predict a consumer’s loyalty and choice. Our test shows that PBC can achieve a high level of predictive accuracy, in excess of 70 percent in mature markets. This accuracy holds even in the face of price competition from a less preferred brand.
PBC uses a prospective predicting method. This does not have to rely on a brand’s past performance or a customer’s purchase history for prediction. Choice data is gathered in the retail setting – at the point of sale. This makes the method described practical, useful and implementable for researchers and practitioners.
Internet Marketing Research: Theory and Practice presents a collection that provides the rigorous tests of the Internet marketing phenomenon.
Taking into account the emergence of new subjects and new authorities, Michael Baker has overhauled the contents and contributor lists of the previous edition to ensure this volume addresses all the necessary themes for the modern marketer.
In particular, the 'Marketing Book' now broaches the following 'new' topics:
* Channel management - management of the supply chain
* Customer Relationship Management
* Direct marketing
* Integrated marketing communications
* measurement of marketing effectiveness
* Postmodern and retro-marketing
* Relationship marketing
Like its predecessors, the 'Marketing Book 5th edition' is bursting with salient articles from some of the best known academics in the field. It amounts to an all-embracing one-volume companion to modern marketing thought, ideal for all students of marketing.