Central European Business Review 2014, 3(2):28-35 | DOI: 10.18267/j.cebr.82

Customer Lifetime Value as the 21st Century Marketing Strategy Approach

Jan Rožek1, Miroslav Karlíček2
1 Ing. Jan Rožek, MIM, Faculty of Business Administration, University of Economics, Prague, nám. Winstona Churchilla 4, 130 67, Prague 3, Czech Republic, Email: jan@rozkovi.cz
2 Assoc. Prof. Miroslav Karlíček, Ph.D., Faculty of Business Administration, University of Economics, Prague, nám. Winstona Churchilla 4, 130 67, Prague 3, Czech Republic, Email: miroslav.karlicek@vse.cz

Many studies show that marketing has recently lost its strategic position within companies. Customer Lifetime Value represents a relatively new approach to reestablishing marketing's position as the core management instrument in market driven companies. The main goal of this paper is to summarize the current development and basic principles of the Customer Lifetime Value conceptual model, which sets customers back into the position of key company assets. The paper presents findings that prove the need for a marketing focus change in order to be able to properly manage customer relationships and secure a company's long-term sustainable development.

Keywords: Customer Lifetime Value; Customer Equity; Customer Relationship; Customer Lifecycle
JEL classification: M31

Received: March 15, 2014; Revised: June 14, 2014; Published: June 30, 2014  Show citation

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Rožek, J., & Karlíček, M. (2014). Customer Lifetime Value as the 21st Century Marketing Strategy Approach. Central European Business Review, 3(2), 28-35. doi: 10.18267/j.cebr.82
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