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Incorporating strategic consumer behavior into customer valuation

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Existing techniques that compute customer valuations without regard to marketing policy are problematic because they neglect the value of managerial flexibility and the potential for consumer learning. In this article, the author develops a structural dynamic programming model of consumer demand that accounts for important elements of consumer behavior, such as response to marketing tactics, purchase feedback effects, unobserved preference heterogeneity, and consumer expectations of future promotions. The author illustrates his approach using data on newspaper subscribers. The estimated parameters from the model serve as the basis for a series of policy experiments that simulate long-term consumer behavior. He finds that the policy experiment approach results in better forecasts of customer value than do existing methods. .Printed Journal

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Ketersediaan

Call Number	Location	Available
	PSB lt.dasar - Pascasarjana	1

Penerbit	American Marketing Association.,
Edisi	-
Subjek	Consumer behavior Valuation Models Dynamic programming Market strategy studies
ISBN/ISSN	222429
Klasifikasi	-
Deskripsi Fisik	-
Info Detail Spesifik	-
Other Version/Related	Tidak tersedia versi lain
Lampiran Berkas	Tidak Ada Data