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Marketing when customer equity matters
If you're a marketer, some of your hardest decisions relate to the marketing mix, or how you should allocate resources across all the possible ways of reaching and serving potential and existing customers. Marketing accountability is difficult to achieve because the cause-and-effect relationships between marketing and business performance usually are fuzzy at best. There has, however, been much progress in recent years in at least some sectors. Wachovia, like other financial institutions - and for that matter, most service businesses and B2B companies - needs to set it sights on increasing customer equity. By definition, customer equity is the present value of the anticipated lifetime revenue the company's customers will generate, minus their acquisition and retention costs. Wachovia therefore faced a problem. Its marketers wanted to assess and improve the effectiveness of its marketing mix, but unfortunately no marketing-mix models had yet been developed to link allocation decisions to customer equity goals. In this article we'll describe the tool that had to be created for Wachovia. We'll take readers through the process as it unfolded, from the initial challenge issued by senior management and the painstaking work to build the marketing database, through the testing of the model and ongoing use of it to evaluate returns on marketing investments..Printed Journal
Ketersediaan
| Call Number | Location | Available |
|---|---|---|
| PSB lt.dasar - Pascasarjana | 1 |
| Penerbit | : Harvard Business School |
|---|---|
| Edisi | - |
| Subjek | Marketing management Return on investment Case studies Models Financial Services Data base marketing |
| ISBN/ISSN | 178012 |
| Klasifikasi | - |
| Deskripsi Fisik | - |
| Info Detail Spesifik | - |
| Other Version/Related | Tidak tersedia versi lain |
| Lampiran Berkas | Tidak Ada Data |