Customer Lifetime Value as the 21st Century Marketing Strategy Approach

Jan Rožek and Miroslav Karlíček

Central European Business Review, 2014, vol. 2014, issue 2, 28-35

Abstract: Many studies show that marketing has recently lost its strategic position within companies. Customer Lifetime Value represents a relatively new approach to reestablishing marketing's position as the core management instrument in market driven companies. The main goal of this paper is to summarize the current development and basic principles of the Customer Lifetime Value conceptual model, which sets customers back into the position of key company assets. The paper presents findings that prove the need for a marketing focus change in order to be able to properly manage customer relationships and secure a company's long-term sustainable development.

Keywords: Customer Lifetime Value; Customer Equity; Customer Relationship; Customer Lifecycle (search for similar items in EconPapers)
JEL-codes: M31 (search for similar items in EconPapers)
Date: 2014
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DOI: 10.18267/j.cebr.82

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