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“This is a milestone book in marketing. Most companies claim they are focused on customers, but even those who are, probably do not take a scientific approach to customer management. Professor V. Kumar is the acknowledged expert on the science of customer management. This important book raises all the key questions in managing customers, provides the analytical tools for optimization, and illustrates these tools with a number of company examples.” —Philip Kotler, S. C. Johnson Distinguished Professor of International Marketing, Kellogg School of Management, Northwestern University “Delivering lasting client value is at the heart of profitable businesses today. Managing Customers for Profit provides a compelling, empirically-tested approach to significantly enhance traditional customer relationship management initiatives. I highly recommend this book to all those interested in cultivating lasting profitable growth relationships with current and future clients.” —Tim Bohling, Vice President, Market Intelligence, IBM Americas “Executives are too often guided by backward-looking, short-term metrics. This book shows how a focus on Customer Lifetime Value (CLV) can change management toward long-term results by providing a fresh perspective on customer targeting, retention, and loyalty. Highly recommended—it shows you the way toward strategic customer thinking.” —Dave Aaker, Vice-Chairman, Prophet, Author of Brand Portfolio Strategy This book shows you how. Leading marketing expert V. Kumar shows how to use Customer Lifetime Value (CLV) to target customers with higher profit potential…manage and reward existing customers based on their profitability…and invest in high-profit customers to prevent attrition and ensure future profitability. Kumar introduces customer-centric approaches to allocating marketing resources for maximum effectiveness…pitching the right products to the right customers at the right time…determining when a customer is likely to leave, and whether to intervene…managing multichannel shopping… even calculating a customer’s referral value. Drawing on his extensive experience consulting with world-class marketing organizations, Kumar illuminates the challenges of transitioning from a product-centric to a customer-centric approach and presents proven solutions. Simply put, this book’s techniques offer marketing executives a complete framework for linking their investments to business value—and maximizing the lifetime value of every single customer. Foreword xiii Preface xv Acknowledgments xviii About the Author xix Chapter 1: Introduction 1 Chapter 2: Maximizing Profitability 11 Chapter 3: Customer Selection Metrics 29 Chapter 4: Managing Customer Profitability 59 Chapter 5: Maximizing Customer Profitability 75 Chapter 6: Managing Loyalty and Profitability Simultaneously 93 Chapter 7: Optimal Allocation of Resources across Marketing and Communication Strategies 113 Chapter 8: Pitching the Right Product to the Right Customer at the Right Time 127 Chapter 9: Preventing Attrition of Customers 143 Chapter 10: Managing Multichannel Shoppers 163 Chapter 11: Linking Investments in Branding to Customer Profitability 187 Chapter 12: Acquiring Profitable Customers 205 Chapter 13: Managing Customer Referral Behavior 223 Chapter 14: Organizational and Implementation Challenges 249 Chapter 15: The Future of Customer Management 267 Index 283
Consumer research has traditionally focused on issues of epistemology in the collection and analysis of data. As a consequence, the crisis in representation which has radically reshaped understanding in the social sciences, has, so far, had very little impact on consumer research. This book redresses the balance with an investigation of representation and constructions of 'truth' in consumer research. Subjects covered include: * construction of the researcher and consumer voice * quantitative tools and representation * advertising narratives * poetic representation of consumer experience * the crisis in the crisis concept * consumer-oriented ethnographic research. The essays are written by experts from Britain and the United States and draw on a broad range of theoretical approaches.
From anxieties over work-life balance and entangling technologies, to celebrations of cool jobs and great places to live, quality of life frames the ways we enhance our lives and legitimate social change today. But how does the idea of quality of life envision the greater good, and what gets lost as a result? This book provides the critical framework for understanding the idea’s contexts and tensions that are conspicuously missing in popular discussions, professional activities, and scholarly research on quality of life. With multiple case studies taken across North America and Europe, it provides a sociological perspective on the contradictory ways we talk about and pursue quality of life in relation to technology, consumerism, family, work, public space, rural ways of life, and ultimately the final years of life. Drawing on contemporary and classical social theory, it provides an incisive account of the historical shifts in developed societies over the last half-century that have transformed our views and pursuits of quality of life. Originally a promise to undertake collective effort and pursue social justice at a moment of unprecedented opportunity, quality of life now enshrines a solipsistic ideal with which to accommodate the storms of market forces and political failure.
During the 1980s, deregulation became adopted as a slogan and set of practices which by setting market forces free could increase the efficiency of market systems. This was particularly the case in the financial services where national systems which had been closed through government and industry collaboration were now opened up to more internal and international competition. This book examines the consequences of deregulation in retail financial services. It shows that organisation and actors sought to adapt to this process, often with unexpected results.
Accounting in Business, Fifth Edition provides a concise discussion of accounting concepts and integrates accounting theories to applications. The book is comprised of 20 chapters that are organized into four parts. The text first presents the scope and environment of business accounting, and then proceeds to covering the theories and practice of financial accounting. The coverage of the book includes bookkeeping; the valuation and depreciation of fixed assets; and capital structure and financial reporting. Next, the title reviews the planning and control aspects of finance, which include budgets and budgetary control; management of working capital; and performance analysis. The last part deals with the relationship between accounting and society. The book will be of great use to undergraduate students and professionals of accounting.
1. Introduction to Marketing : Nature, Scope and Importance, 2. Care Concepts of Marketing, 3. Marketing Environment, 4. Market Segmentation, 5. Targeting, Positioning and Re-Positioning, 6. Buying Motives, 7. Introduction to Marketing-Mix, 8. Product and Product Planning, 9. New Product Development, 10. Product Life-Cycle, 11. Branding and Packaging, 12. Distribution : Type and Selection of Channels, 13. Middleman : Wholesaler and Retailer, 14. Physical Distribution of Goods, 15. Pricing Policies, Strategies and Price Determination, 16. Promotion—Methods of Promotion and Optimu Promotion Mix, 17. Introduction to Advertising, 18. Selection of Advertising Media, 19. Personal Selling, 20. Sales Promotion, 21. Publicity and Public Relation, 22. Marketing Research and Information Systems, 23. Consumer Behaviour, Objective Type Questions.
1. Introduction to Marketing : Nature, Scope and Importance, 2. Care Concepts of Marketing, 3. Marketing Environment, 4. Market Segmentation, 5. Targeting, Positioning and Re-Positioning, 6. Buying Motives, 7. Introduction to Marketing-Mix, 8. Product and Product Planning, 9. New Product Development, 10. Product Life-Cycle, 11. Branding and Packaging, 12. Distribution : Type and Selection of Channels, 13. Middleman : Whole Saler and Retailer, 14. Physical Distribution of Goods, 15. Pricing Policies, Strategies and Price Determination, 16. Promotion—Methods of Promotion and Optimum Promotion Mix, 17. Introduction to Advertising, 18. Selection of Advertising Media, 19. Personal Selling, 20. Sales Promotion, 21. Publicity and Public Relation, 22. Marketing Research and Information System, 23. Consumer Behavior.
1. Introduction to Marketing : Nature, Scope, Importance and Evolution of Marketing 2. Marketing-Mix 3. Marketing Environment 4. Consumer Behaviour 5. Market Segmentation 6. Product and Product Mix 7. Product Life-Cycle 8. Branding, Packaging and Labelling, After Sales Services 9. New Product Development 10. Price (Importance of Proce in Marketing and Factors Affecting Price of a Product, Kind and Methods of Pricing, Polices and Strategies) 11. Promotion-Nature and Importance, Methods of Promotion and Optimum Promotion Mix 12. Advertising 13. Personal Selling 14. Sales Promotion 15. Publicity and Public Relations 16. Distribution : Types and Selection of Channels 17. Wholesaler and Retailer 18. Recent Developments in Marketing (Social Marketing, Online Marketing, Direct Marketing, Service Marketing, Green marketing, Relationship Marketing and Rural Marketing)
A brand new collection of powerful insights into building outstanding customer relationships… 4 pioneering books, now in a convenient e-format, at a great price! 4 remarkable eBooks help you develop rock-solid, high-value long-term customer relationships: levels of loyalty you thought were impossible Today, rock-solid long-term customer relationships are the holy grail of every business -- and they seem just as elusive. But such relationships are possible: great businesses are proving it every day, and reaping the rewards. In this extraordinary 4 eBook set, you'll learn how they do it -- and how you can, too, no matter what you sell or who your customers are. First, in Managing Customers for Profit: Strategies to Increase Profits and Build Loyalty, internationally respected marketing expert V. Kumar presents a complete framework for linking your investments to business value - and maximizing the lifetime value of every customer. Learn how to use Customer Lifetime Value (CLV) to target customers with higher profit potential…manage and reward existing customers based on their profitability…and invest in high-profit customers to prevent attrition and ensure future profitability. Kumar introduces customer-centric approaches to allocating marketing resources…pitching the right products to the right customers at the right time…determining when a customer is likely to leave, and whether to intervene…managing multichannel shopping… even calculating referral value. Next, in Smart Retail: Practical Winning Ideas and Strategies from the Most Successful Retailers in the World, Richard Hammond presents remarkable new case studies, ideas, strategies, and tactics from great retailers worldwide. Discover new ways to use data to drive profit and growth… do more with less… leverage technology to develop highly productive and innovative remote teams… create your ultimate retail experience! In Inside the Mind of the Shopper: The Science of Retailing, the legendary Herb Sorensen reveals what customers really do when they shop, ripping away myths and mistakes that lead retailers to miss huge opportunities. Sorensen identifies simple interventions that can have dramatic sales effects, shows why many common strategies don't work, and offers specific solutions for serving quick-trip shoppers, optimizing in-store migration patterns, improving manufacturer-retailer collaboration, even retailing to multicultural communities. Finally, in The Truth About What Customers Want, Michael R. Solomon demystifies today's consumers, revealing what they want, think, and feel. Then, based on his deep truths about consumer behavior, he presents 50 bite-size, easy-to-use techniques for finding and keeping highly profitable customers! From world-renowned experts in customer behavior and retail performance V. Kumar, Richard Hammond, Herb Sorensen, and Michael R. Solomon
This book collects in a single volume Marc Galanter's seminal work, "Why the 'Haves' Come Out Ahead," with ten contemporary articles about Galanter's theory. The articles, which present new research results and synthesize work done over the past few decades, examine the lasting influence and continued importance of this groundbreaking work.