Driving Customer Equity : How Customer Lifetime Value is Reshaping Corporate Strategy
Author: Roland Rust, Valarie Zeithaml, Katherine Lemon
List Price: $28.00
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ISBN: 0684864665
Publisher: Free Press (27 June, 2000)
Sales Rank: 60,311
Average Customer Rating: 4.08 out of 5
Customer Reviews
Rating: 5 out of 5
New ideas for strategy
This book is an eye-opener. In practical, non-technical terms, it shows how corporate strategy (and especially marketing strategy) can be based on customer lifetime value rather than product profitability. It brings strategy in line with the latest thinking in customer relationship management (CRM). The ideas about making all marketing expenditures financially accountable are fascinating, and the book suggests how this can be accomplished through the concept of customer equity. Also, every company is trying to make the internet count, and this book shows how different internet marketing efforts can increase customer lifetime value in different ways. Some people at old-fashioned companies may have difficulty grasping some of these new ideas (which are rooted in the new economy and customer relationship management) but to progressive executives this book will look like the future of strategy.
Rating: 5 out of 5
A Useful Tool for Marketing and Communications Managers
Many marketing executives are challenged to evaluate the impact of their marketing communications and customer relationship strategies, but too often get bogged down in short-term measures like click-throughs and direct response. Driving Customer Equity is a valuable tool for quantifying the long-term impact of investments in building a brand and improving customer satisfaction. It is based on a logical framework that recognizes the financial returns from building brand equity, improving perceived value and increasing customer satisfaction. The book does more than provide a useful framework and report real research. It also includes hands-on tools that can be used by managers, consultants and researchers. I am recommending this book to all of my clients in the hope that it encourages a long-range focus that recognizes building customer equity is more important than short-term sales.
Rating: 1 out of 5
The next edition should be much shorter
This book has a few great points, however it continues to assert them page after page after page. The writing reflects a group effort, as you will find yourself reading a definition that was already articulated in the immediately preceding section. Each small passage or section within the chapters reads like it's own 500 word essay, meant to read independent from writing around it.Little clear quanatative methods are expressed, rather we are forced to endure a hodgepodge of graphs that belong in a high school classroom.
Like the graphs, this book was poorly written. The sections are confusing and painful to endure. All of the concepts could be presented in a more condensed fashion, and quantative methods addressed. Better works are out there, so save your money on this one.
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Book Index