MANAGING CUSTOMER VALUE (2ND ED‪)‬

How do you take an individual who has never done business with your organization and gradually transform them into the best possible customer? How do you decide how much to spend on various marketing actions? How do you think about the pricing decision with a view to optimizing the value of your customers as assets? Where do you start, what tools do you use, and what heuristics are useful in making these decisions? This book attempts to answer questions such as these. The one-sentence summary of the answer, though, is simple — hold the individual's hands and walk them up a value ladder, one step at a time. This book is written for an advanced student of business and the practicing manager. It presents an integrated view of the marketing function. In particular, it focuses on all the activities that a firm engages in to create and manage value - not just the customer-facing activities. It links the traditional views of customer value with the finance, accounting, human resources, organizational behaviour, information technology and operations functions of the organization. It draws on the science of behaviour change and the data sciences to present a contemporary view of the customer value function. The content is meant to be prescriptive — it describes a process for value creation and management, yet analytical; theoretical, yet empirically driven. It urges the reader to think about the customer value function to be organized along activities that the firm would like the customers to engage in, not activities that the firm engages in. It presents a framework that is not only conceptually driven but also has a sound mathematical basis. Contents: Preface About the Authors Part 1: Managing Customer Value Value The Value Ladder Loyalty Part 2: Customers as Gambles Behavior Change The Data Revolution The Digital and Social Marketplace Part 3: Pricing and Customer Psychology Aligning the Organization A Practitioner's Guide to Managing Customer Value Name Index Subject Index Readership: For graduate students and academics in marketing, business decision-makers and the general public. Dilip Soman is a Canada Research Chair in Behavioural Science and Economics, and serves as a Director of the Behavioural Economics in Action Research Centre at Rotman [BEAR]. His research is in the area of behavioural science and its applications to consumer well-being, marketing and policy. He is the author of The Last Mile [University of Toronto Press] and teaches a massive open online course [MOOC] BE101X: Behavioural Economics in Action on edX.Sara N-Marandi is a Product Manager on Android with over nine years of experience at Google working alongside product and sales leaders in Canada and the United States. Prior to Google, Sara led corporate strategy for multi-million dollar brands across various industries including; media, government, pharmaceutical, airline and many others. Sara has experience in strategy development and tech products with a record of delivering high impact experiences for clients and users. Sara completed her MBA at the Rotman School of Management. 'If only there had been a Customer Value Movement to counter the Shareholder Value Movement, businesses might be in much better shape today. To redress the balance, there is no better place to start than by reading this book.' - Rory SutherlandVice-Chair, Ogilvy UK Bestselling author of Alchemy: The Dark Art and Curious Science of Creating Magic in Brands, Business, and Life 'This book gives any business a series of actionable insights based on scientific thinking for managing the value of their greatest assets — customers!' - Jonah BergerProfessor, Wharton School at the University of Pennsylvania Bestselling author of The Catalyst, Contagious, and Invisible Influence 'An excellent treatise for unlocking customer value, one step at a time.' - Raj SubramaniamPresident & COO, FedEx Corporation 'Managing Customer Value goes well beyond the boundaries of traditional marketing...