The Book“…shift from a focus on consumer transactions to a focus on long-term, one-to-one customer relationships…”
“When the community associated with the product or service is as important as the product or service, customers will continue to purchase from the firm to maintain “membership” in the community.”
“Customer Equity is a long-term financial concept, it may be appropriate to consider the role of long-term investments versus short-term spending.”
In their efforts to become more customer-focused, companies everywhere find themselves entangled in outmoded systems, metrics, and strategies rooted in their product-centered view of the world. Now, to ease this shift to a customer focus, marketing strategy experts Roland T. Rust, Valarie A. Zeithaml, and Katherine N. Lemon have created a dynamic new model they call “Customer Equity,” a strategic framework designed to maximize every firm’s most important asset, the total lifetime value of its customer base.