Customer Equity Management

Customer Equity Management

Roland T. Rust, University of MarylandValarie A. Zeithaml, University of North CarolinaKatherine N. Lemon, Boston College

2004, Prentice Hall

* For MBA or advanced undergraduate courses in Customer Relationship Management (CRM), Also suitable as a supplement for Marketing Strategy and Marketing Management courses.

This concise new textbook by a team of award winning researchers and professors presents the concepts and analytic tools necessary to understand customer equity management. It's organized around a simple framework, the Strategic Customer Equity Management plan for developing profitable marketing strategies. Strategic and applied in its orientation, it contains a variety of practical tools including two cases on CD that use proprietary analytic software developed by the authors.

Features

Strategic and applied approach: An approach to customer-centric strategy development that no other textbook offers.

Simple customer management framework: Brings together the advances in marketing theory and practice in the areas of value (quality/price/convenience), brand (attitude/awareness/ethics), and relationships (loyalty/sales force/community/knowledge).

Cases for application and learning: Students are able to put to practice concepts and tools covered in the text.

In-depth description of the new marketing paradigm of customer equity: Introduces distinct customer management strategies to show how the key components of customer equity - value equity, brand equity, and relationship equity - work independently and together.

Marketing investment to ROI correlations: Provides an introduction to the analysis necessary to evaluate potential marketing strategies and to determine which marketing actions will have the strongest effect on long term profitability through customer equity.

CD-ROM bundled with the text: Includes two cases and a demo of CUSTOMER EQUITY DRIVER(tm), proprietary analytic software developed by the authors.

About the Authors

Roland T. Rust holds the David Bruce Smith Chair in Marketing at the Robert H. Smith School of Business at the University of Maryland, where he is Chair of the Marketing Department and directs the Center for Excellence in Service. His lifetime achievement honors include the American Marketing Association's Gilbert A. Churchill Award for Lifetime Achievement in Marketing Research, the Outstanding Contributions to Research in Advertising award from the American Academy of Advertising, the AMA's Career Contributions to the Services Discipline Award, Fellow of the American Statistical Association, and the Henry Latané Distinguished Doctoral Alumnus Award from the University of North Carolina at Chapel Hill. He has won best article awards for articles in Marketing Science, Journal of Marketing Research, Journal of Marketing (twice), Journal of Advertising, and Journal of Retailing, as well as MSI's Robert D. Buzzell Best Paper Award (twice). His book, Driving Customer Equity (written with Valarie Zeithaml and Katherine Lemon) won the 2002 Berry-AMA Book Prize for the best marketing book of the previous three years. His work has received extensive media coverage, including aBusinessWeek cover story and an appearance on ABC World News Tonight with Peter Jennings. He is the founder and Chair of the AMA Frontiers in Services Conference, and serves as founding Editor of the Journal of Service Research. Professor Rust also is an Area Editor at Marketing Science andProduction and Operations Management, and serves on the editorial review boards of the Journal of Marketing Research, Journal of Marketing, and the Journal of Interactive Marketing. He has consulted with many leading companies worldwide, including such companies as American Airlines, AT&T, Chase Manhattan Bank, Dow Chemical, DuPont, FedEx, IBM, Nortel, Procter & Gamble, Sears, Unilever, and USAA.

Katherine N. Lemon, Ph.D., is an associate professor of marketing at the Wallace E. Carroll School of Management, Boston College. She is a recognized leader in the areas of customer equity, customer asset management and marketing strategy. Lemon serves on the editorial boards of the Journal of Marketing, Journal of Service Research, Journal of the Academy of Marketing Science, International Journal of Electronic Commerce and the Journal of Interactive Marketing, and on the Academic Council of the American Marketing Association. She has received multiple best-article awards for her research, including the Journal of Marketing and the Journal of Service Research, and is a recipient of the American Marketing Association's Berry Book Award and of the 2003 and 2004 Marketing Science Institute Robert D. Buzzell Best Paper Award. Lemon's prior books include Driving Customer Equity: How Customer Lifetime Value is Reshaping Corporate Strategy (The Free Press, 2000; with Rust and Zeithaml), and Wireless Rules (McGraw-Hill, 2001, with Newell). She teaches courses focusing on customer equity, dynamic customer relationship management, marketing strategy, and marketing ROI. Lemon has consulted with and taught senior executives at leading global companies including Microsoft, Eli Lilly and Company, Timberland, IBM, Pearson Education, Siemens Corporation, Hewlett-Packard, Citigroup, Deloitte, HSBC, Ericsson, Textron, The Capital Markets Company (CAPCO), Copernicus Marketing, and the US Office of Thrift Supervision, and in executive development programs at Wharton and Duke. She has also been an invited and keynote speaker at numerous industry conferences around the world.

Das Narayandas, Ph.D. is Professor of Business Administration at the Harvard Business School. He teaches the Business Marketing Elective in the MBA program.

Reader Reviews

"The approach of this textbook is very original and of great interest both to academics and practitioners. This textbook is a must for everyone seriously interested in marketing." — Universit de Neuchtel reviewer

"The book is written in a clear and simple style. It clearly fits managers and undergraduates." — Tel-Aviv University reviewer

"Customer Equity Management gives models and tools for analyzing your customer base and managing them for profits. Practical! Easy to understand tools." — Lyndon State College reviewer

"It is very clear and effective writing. The authors should be congratulated for it." —Universit de Neuchtel Reviewer