The current practice in customer centricity focuses on having customer-level behavioral data and using those data to construct customer lifetime values from which allocation decisions can be made through segmentation. In this book, the authors go beyond current practice in marketing decision making by developing state-of-the-art dynamic optimization models that help to make allocation decisions that maximize long-term profit. -- Russ Winer, William H. Joyce Professor of Marketing, Stern School of Business, New York University Ravi and Sun show how cutting-edge methodology can be employed to maximize customer lifetime value, not merely measure it. The authors delineate four critical steps to doing so. They show how this process is enhanced by learning how each customer evolves over time, and how firms can manage that evolution. -- Scott A. Neslin, Alfred Wesley Frey Professor of Marketing, Tuck School of Business at Dartmouth College
R. Ravi is Andris A. Zoltners Professor of Business, Rohet Tolani Distinguished Professor, and Professor of Operations Research and Computer Science at Carnegie Mellon University's Tepper School of Business. Baohong Sun is Dean's Distinguished Chair Professor of Marketing, Associate Dean of Global Programs, and Director of the Customer Information Management Center at Cheung Kong Graduate School of Business (New York).