Shared Flashcard Set

Details

Special Unit
Customer Value Assessment and Valuing Customers
6
Marketing
Undergraduate 3
03/03/2011

Additional Marketing Flashcards

 


 

Cards

Term
Objective Customer Value
Definition
The hypothetical price for a supplier's offering at which a particular customer would be at overall economic break-even relative to the best alternative available to that customer for performing a set of functions
Term
Indirect Survey Questions
Definition
asking customers about the effect of one or more changes in existing offerings on certain aspects of their needs or problems
Term
Value-in-Use (VIU)
Definition
the price that would make a customer indifferent (e.g. economic breakeven) between continuing to use the current product versus switching to another option
Term

Use observations of actual past consumer behavior as a basis for estimating value:

Choice Models

Definition
using past behaviors to infer or estimate the value (or utilities) of product characteristics that might best explain or predict actual behavior
Term
Data mining
Definition
using historical customer data to product segments according to customer profitability, amount spent, lifetime value, and so forth
Term
Customer Lifetime Value
Definition

  • Economic Value: Revenue and Flow less Cost-to-serve
  • Relationship Value:
  • reference
  • referral
  • learning
  • innovation

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