Customer Lifetime Value: Literature Scoping Map, and an Agenda for Future Research

Neda Abdolvand · Amir Albadvi · Hamidreza Koosha

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Customer churn and segmentation Customer Service Quality and Loyalty Corporate Governance and Management

Abstract

Customer Lifetime Value (CLV) is the core concept of relationship marketing and is increasingly addressed in scholarly and business articles. However, there is a big gap in the literature to make CLV thoroughly applicable in business. This paper aims to illuminate the trend of CLV by critical analysis of the literature. For this purpose, after revealing the scoping map of the research area, CLV concepts, the proposed mathematical models besides its techniques and mentioned categorization, its application, and its limitations are investigated. The research exposes the need to a comprehensive model for increasing the applicability of CLV. In addition, the scoping map illuminates the need for more research in the area of implementation and validation.

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2003Return on Marketing: Using Customer Equity to Focus Marketing Strategy 1996The loyalty effect: The hidden force behind growth, profits, and lasting value 2000On the Profitability of Long-Life Customers in a Noncontractual Setting: An Empirical Investigation and Implications for Marketing 1998Customer lifetime value: Marketing models and applications 2004An integrated framework for customer value and customer‐relationship‐management performance: a customer‐based perspective from China 2001Diagnosing Customer Value: Integrating the Value Process and Relationship Marketing 2002Customer lifetime value research in marketing: A review and future directions 2005RFM and CLV: Using Iso-Value Curves for Customer Base Analysis

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