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Relationship Marketing Re-Imagined by Ahmet Bayraktar, Can Uslay, Naresh K. Malhotra

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CHAPTER 7

Customer Relationship Management Analytics

Introduction

This chapter introduces the role and benefits of customer relationship management (CRM) and the historical development of the CRM concept. In addition, it discusses how to measure and manage customer value and customer lifetime value (CLV) by presenting various approaches and principles. Besides, it introduces two types of strategies, namely, “across-customer” strategies and “within-customer” strategies, which help companies maximize CLV. The chapter also discusses the importance of CLV-based marketing initiatives, which channel firms’ efforts toward customer-centric marketing and away from product orientation. After introducing CRM solution providers, the chapter concludes with ...

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