Please use this identifier to cite or link to this item: https://doi.org/10.21256/zhaw-1899
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dc.contributor.authorHeitz, Christoph-
dc.contributor.authorDettling, Marcel-
dc.contributor.authorRuckstuhl, Andreas-
dc.date.accessioned2018-03-28T15:00:07Z-
dc.date.available2018-03-28T15:00:07Z-
dc.date.issued2011-
dc.identifier.issn1460-6720de_CH
dc.identifier.urihttps://digitalcollection.zhaw.ch/handle/11475/4429-
dc.description.abstractService provision is often governed by a contract (e.g., newspaper subscriptions, phone contracts, and credit agreements). Typically, such a contract includes rules that influence the dynamics of the customer in the marketplace. Typical examples are minimum contract durations, or fixed time instants for contract termination. The goal of these rules is to increase the future total profit gained from the customer, which is usually denoted with the term customer lifetime value (CLV). We analyse the problem of calculating the CLV under general contract structures. We show that classical Markov models for describing the customer dynamics are not appropriate and may lead to huge errors in the CLV. We propose a semi-Markov formulation which leads to substantially better results. We apply the framework to data of newspaper subscription.de_CH
dc.language.isoende_CH
dc.publisherIndersciencede_CH
dc.relation.ispartofInternational Journal of Services Technology and Managementde_CH
dc.rightsLicence according to publishing contractde_CH
dc.subjectMarkov chain modelde_CH
dc.subjectDirect marketingde_CH
dc.subjectNewspaper subscriptionde_CH
dc.subjectCustomer dynamicsde_CH
dc.subject.ddc658.8: Marketingmanagementde_CH
dc.titleModelling customer lifetime value in contractual settingsde_CH
dc.typeBeitrag in wissenschaftlicher Zeitschriftde_CH
dcterms.typeTextde_CH
zhaw.departementSchool of Engineeringde_CH
zhaw.organisationalunitInstitut für Datenanalyse und Prozessdesign (IDP)de_CH
dc.identifier.doi10.21256/zhaw-1899-
dc.identifier.doi10.1504/IJSTM.2011.042595de_CH
zhaw.funding.euNode_CH
zhaw.issue2de_CH
zhaw.originated.zhawYesde_CH
zhaw.pages.end190de_CH
zhaw.pages.start172de_CH
zhaw.publication.statuspublishedVersionde_CH
zhaw.volume16de_CH
zhaw.publication.reviewPeer review (Publikation)de_CH
Appears in collections:Publikationen School of Engineering

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