Publication type: Conference paper
Type of review: Peer review (publication)
Title: Customer lifetime value under complex contract structures
Authors: Heitz, Christoph
Ruckstuhl, Andreas
Dettling, Marcel
DOI: 10.1007/978-3-642-14319-9_24
Proceedings: Exploring services science : first international conference, IESS 2010, Geneva, Switzerland, february 17-19, 2010 - revised papers
Editors of the parent work: Morin, Jean-Henry
Ralyté, Jolita
Snene, Mehdi
Page(s): 276
Pages to: 281
Conference details: First International Conference (IESS 2010) Geneva, Switzerland, 17-19 February 2010
Issue Date: 2010
Series: Lecture notes in business information processing
Series volume: 53
Publisher / Ed. Institution: Springer
Publisher / Ed. Institution: Berlin
ISBN: 978-3-642-14318-2
ISSN: 1865-1348
Language: English
Subjects: Customer lifetime value; Marketing; Markov chain models; Semi-Markov models
Subject (DDC): 658.8: Marketing management
Abstract: We analyze the problem of calculating the customer lifetime value (CLV) under contract structures that have an impact on customer dynamics. Typical examples are minimum contract durations, or fixed time points for contract cancellation. We show that classical Markov Chain models are not appropriate and may lead to large errors in the CLV. We propose a Semi-Markov formulation which leads to substantially better results.
Fulltext version: Published version
License (according to publishing contract): Licence according to publishing contract
Departement: School of Engineering
Organisational Unit: Institute of Data Analysis and Process Design (IDP)
Appears in collections:Publikationen School of Engineering

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