Allocation of Marketing Resources to Optimize Customer Equity
Managing Customers as Financial Assets
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To stay competitive, companies spend billions ofdollars each year on building long-term relationshipswith their customers. Marketing managers aretherefore constantly challenged with the problem ofhow to allocate a limited marketing budget acrosscustomers and competing marketing initiatives. Thiswork addresses the problem of how to efficientlyallocate marketing resources to maximize thefinancial value generated by marketing investments.Advanced stochastic models addressing the followingthree issues are proposed: a) maximization ofcustomer lifetime value by linking marketing actionsto the financ...
To stay competitive, companies spend billions of
dollars each year on building long-term relationships
with their customers. Marketing managers are
therefore constantly challenged with the problem of
how to allocate a limited marketing budget across
customers and competing marketing initiatives. This
work addresses the problem of how to efficiently
allocate marketing resources to maximize the
financial value generated by marketing investments.
Advanced stochastic models addressing the following
three issues are proposed: a) maximization of
customer lifetime value by linking marketing actions
to the financial value generated during the
relationship with the company, b) estimation of the
financial profile of customers and, c) use of risk
management techniques to select the optimal customer
portfolio. This research has been done while the
author was working at the Math & Computer Science
Department of the IBM Zurich Research Laboratory in
Rüschlikon, Switzerland.
dollars each year on building long-term relationships
with their customers. Marketing managers are
therefore constantly challenged with the problem of
how to allocate a limited marketing budget across
customers and competing marketing initiatives. This
work addresses the problem of how to efficiently
allocate marketing resources to maximize the
financial value generated by marketing investments.
Advanced stochastic models addressing the following
three issues are proposed: a) maximization of
customer lifetime value by linking marketing actions
to the financial value generated during the
relationship with the company, b) estimation of the
financial profile of customers and, c) use of risk
management techniques to select the optimal customer
portfolio. This research has been done while the
author was working at the Math & Computer Science
Department of the IBM Zurich Research Laboratory in
Rüschlikon, Switzerland.
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