Rust et al. (2001): Driving Customer Equity: Linking Customer Lifetime Value to Strategic Marketing Decisions
12 important questions on Rust et al. (2001): Driving Customer Equity: Linking Customer Lifetime Value to Strategic Marketing Decisions
In which part of the roadmap fits this article?
- So, the customer-level performance part
What facilitates Customer Equity?
- Return on service quality
- Return on advertising
- Return on loyalty programs
- Return on corporate ethical standards
According to Rust et al. (2001), how can strategic competitive gaps be revealed?
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For which kind of organisations are the following aspects of Equity most important?
- Value Equity
- Brand Equity
- Relationship Equity
- Value Equity is more important for B2B companies, for which objective performance is more important
- Brand Equity is more important for consumer packaged goods companies and other transaction-oriented businesses
- Relationship Equity is more important for relationship business (often service)
What is the main purpose of the paper by Rust et al. (2001)?
Explain the framework provided in the Rust et al. (2001) paper. What makes it possible to analyse?
- This framework makes it possible to analyse what effect improving a driver of Customer Equity has on Customer Equity overall.
Which 6 benefits provides the framework of Rust et al. (2001) to management?
- Identification and measurement of key drivers of Customer Equity
- Identification of firm’s competitive strengths and weaknesses
- Projection of financial impact of marketing initiatives
- Key metrics for top management
- Rapid implementation
- Easy implementation
Which three broad areas influence customers' decisions to purchase and repurchase products and services?
- Aspects of firm’s product and service offering
- Aspects of firm’s brand, and
- Aspects of customer’s relationship with firm
What is Value Equity?
Customer retention has been treated under one of two assumptions. Which two assumptions are those?
- Lost for good assumption
- Uses customer’s retention probability as probability that firm’s customer this period is still firm’s customer next period (once customer is gone, it’s gone) and
- Always a share assumption
- Customer does not give any firm all of his/her business (migration model, may leave and return).
What are the benefits and contributions of the Customer Equity Framework?
- CE framework enable the firm to determine where to invest its marketing resources for the greatest impact
- CE Framework enables marketing performance to be measured in terms of ROI, marketing performance is directly linked to CE.
- CE framework makes it possible for firm to explore effect of customer satisfaction on CE.
- CE framework makes CE and drivers financially accountable.
For which strategy provides Customer Equity the basis?
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