Understanding the contribution of marketing to the shareholder value of a company has been a major challenge for marketing research. The purpose of this dissertation was creating and validating an attitudinal measure of customer equity in hospitality businesses, thus providing a link between return on marketing and the shareholder value of a company. The theoretical background of the customer equity construct was examined, and then systematic scale development processes were initiated. The results produced two concise scales: (1) 17 items that represent the six dimensions of customer equity in the restaurant industry and (2) 19 items that represent the six dimensions of customer equity in the hotel industry. Six dimensions of customer equity achieved strong convergent validity, discriminant validity, and internal consistency, indicating unidimensionality of the constructs. To further validate the newly developed scale, criterion validity was checked in correlation with six criterion measures using data collected from 590 hospitality industry consumers. The results demonstrate that customer equity closely reflects the shareholder value of a company. Also, it was found that value equity, brand equity, relationship equity, and service quality are significantly and positively correlated with overall customer equity of a company. In conclusion, customer equity represents the long-term value of a company, and reflects shareholder value of the company, thus providing a link with return on marketing investments. Theoretical and managerial implications are discussed. / Ph. D.

Submitted by Maicon Juliano Schmidt (maicons) on 2015-07-08T14:56:18Z No. of bitstreams: 1 Henrique Horst da Silva.pdf: 2337183 bytes, checksum: cf073a3f2f72937932fd761ed33e195a (MD5) / Made available in DSpace on 2015-07-08T14:56:18Z (GMT). No. of bitstreams: 1 Henrique Horst da Silva.pdf: 2337183 bytes, checksum: cf073a3f2f72937932fd761ed33e195a (MD5) Previous issue date: 2014-09-24 / Nenhuma / Esta dissertação tem como objetivo aprofundar a relação existente entre o Customer Equity (CE) e o Shareholder Value (SHV) utilizando como base o modelo teórico desenvolvido no artigo Linking Customer and Financial Metrics to Shareholder Value: The Leverage Effect in Customer- Based Valuation. Os Drivers de Valor Internos e Externos das organizações foram acrescentados ao modelo, de modo a explicar as variações no CE, bem como a alocação dos recursos de marketing foi estudada, de modo a maximizar o retorno dos valores investidos. Como resultados, confirmando o trabalho base, o estudo da alocação das despesas de marketing ressaltou a aquisição de clientes como uma estratégia chave para a maximização do CE e, por consequência, no SHV. As despesas de marketing também apresentaram um elevado impacto negativo no SHV, ressaltando a importância do seu correto gerenciamento para as empresas. Neste ponto, os Drivers de Valor mostraram-se uteis, possibilitando a segmentação e a identificação dos clientes mais valiosos para a empresa. / This dissertation aims to study the relationship between the metrics of Customer Equity (CE) and the Shareholder Value (SHV) using as a basis the theoretical model developed in article Linking Customer and Financial Metrics to Shareholder Value: The Leverage Effect in Customer-Based Valuation. Internal and External Drivers of Value of organizations were added to the model in order to explain variations in the CE as well as the allocation of marketing resources was studied in order to maximize the return on invested amounts. As results, the study of the allocation of marketing expenses underscored customer acquisition as a key strategy for maximizing to CE and, consequently, to SHV. Marketing expenses also showed a high negative impact on SHV, emphasizing the importance of their proper management for the companies. At this point, the Drivers of Value proved useful enabling the segmentation and identification of the most valuable customers for the company.

<p>Studien har genomförts i Kista Galleria med syftet att utvärdera Ryals (2005) formel för värde­ring av kundrelationer. Med hjälp av formeln beräknas Customer Lifetime Value (CLV) för ett antal kundrelationer det undersökta företaget har. Huruvida formeln är funktionell för ändamålet kundvärdering är den centrala frågeställningen. Resultaten som framkommer ty­der på att en utgångspunkt för värdering av kundrelationer med hjälp av enbart monetära faktorer kan resultera i kortsiktiga strategiska beslut. Mindre butiker uppvisade generellt bättre Customer Lifetime Value per kvadratmeter än välkända butiker med stora butiksytor. Viktiga ickemonetära faktorer är ekonomisk styrka vid förhandlingsbordet och kund­attraktion. För att på lång sikt skapa ett framgångsrikt koncept krävs det att såväl monetära som ickemonetära faktorer tas med i beräkningarna för att kunna göra en korrekt bedömning av en kundrelations verkliga värde.</p>

Studien har genomförts i Kista Galleria med syftet att utvärdera Ryals (2005) formel för värde­ring av kundrelationer. Med hjälp av formeln beräknas Customer Lifetime Value (CLV) för ett antal kundrelationer det undersökta företaget har. Huruvida formeln är funktionell för ändamålet kundvärdering är den centrala frågeställningen. Resultaten som framkommer ty­der på att en utgångspunkt för värdering av kundrelationer med hjälp av enbart monetära faktorer kan resultera i kortsiktiga strategiska beslut. Mindre butiker uppvisade generellt bättre Customer Lifetime Value per kvadratmeter än välkända butiker med stora butiksytor. Viktiga ickemonetära faktorer är ekonomisk styrka vid förhandlingsbordet och kund­attraktion. För att på lång sikt skapa ett framgångsrikt koncept krävs det att såväl monetära som ickemonetära faktorer tas med i beräkningarna för att kunna göra en korrekt bedömning av en kundrelations verkliga värde.

Thesis (Ph. D.)--Florida State University, 2006. / Advisor: J. Joseph Cronin Jr., Florida State University, College of Business, Dept. of Marketing. Title and description from dissertation home page (viewed Sept. 27, 2006). Document formatted into pages; contains xi, 209 pages. Includes bibliographical references.

The movement or flow of employees into, around and out of organisations (‘employee flow’) has long been a central issue in human resource management and industrial psychology. This is especially so for the specific element of employee turnover, but also applies to staffing and internal talent development. Employee flow is especially salient in a South African context characterised by scarce skills. The voluminous literature on employee flow has tended to view each element such as recruitment or turnover separately, and has generally focused on internal outcomes (e.g. commitment or satisfaction). This thesis attempts to add two crucial features, namely EF as a whole system (i.e. inflows, intraorganisation flows and outflows of staff in conjunction), and customer-based outcomes. Something of a synthesis is thus sought between EF and ideas of marketing productivity. Marketing productivity has been proposed as one of the most important foci of the marketing discipline (Rust, Ambler, Carpenter, Kumar, & Srivastava, 2004; Sheth & Sisodia, 2002). It refers to links between marketing and organisational performance or value. Models such as the ‘service profit chain’ (Heskett, Sasser & Schlesinger, 1997) identify the antecedents of marketing productivity to be internal organisation characteristics such as staff satisfaction or loyalty. This thesis seeks to expand such models in the context of a system of EFs. Advanced decision theoretic utility theories of EF (e.g. Boudreau & Berger, 1985) allow for the complete, integrated value of employee movements over time to be modelled. Such a model is constructed and links to marketing metrics, notably service perceptions, investigated. Organisational value arising via the outcomes for customers are further investigated. Thus increased value of employee movements is proposed to generate organisational value, mediated by improved customer equity (e.g. Gelade & Young, 2005). An empirical, survey-based study was conducted to assess the model. EF was assessed in business-to-business relationships from the perspective of the customer using conceptions of decision theoretic utility analysis, and both intermediate and outcome-based customer perceptions of service quality used as dependent variables. Moderation effects from frequency of interaction and integration of the customer into the supply chain were also tested, as well as controls for characteristics of the transaction, organisation and industry. Results suggest that EF does significantly affect various stages of service quality provision, notably ‘potential quality’, which it appears mediates links to other aspects of service provision, especially final service outcomes. In addition, EF was also found to affect outcomes through the intermediate relational element of 'soft process quality', possibly highlighting the importance of relationship management and soft skills in B2B relationships. Employee outflows in particular showed evidence of relatively strong effects, possibly highlighting the ongoing salience of turnover, in particular effective identification and management of functional versus dysfunctional turnover instead of a sole focus on retention. Results were significantly stronger for service industries than others (presumably as service is the outcome), and when there were relatively few supplier contact staff (perhaps due to social networking, bonding, exchange or emotional contagion). This thesis adds substantially to the methodologies underlying service profit chain models. It explicitly included new constructs (EF utility). Contextually, it was the first proper test of this model in South Africa. Theoretical contributions arose from new inter-disciplinary syntheses of utility models, finally linking employee and customer utilities to the organisation. Ultimately, practical significance may arise for managerial models, estimating and justifying human resource interventions.

Submitted by Silvana Teresinha Dornelles Studzinski (sstudzinski) on 2016-06-29T13:37:41Z No. of bitstreams: 1 Bruna Rorato_.pdf: 951524 bytes, checksum: 8291c1accc5a03acfbf484a81fdf865a (MD5) / Made available in DSpace on 2016-06-29T13:37:41Z (GMT). No. of bitstreams: 1 Bruna Rorato_.pdf: 951524 bytes, checksum: 8291c1accc5a03acfbf484a81fdf865a (MD5) Previous issue date: 2016-03-31 / UNISINOS - Universidade do Vale do Rio dos Sinos / Saber conduzir a base de clientes de maneira a tornar eficiente o investimento em marketing é um fator importante no processo estratégico das empresas hoje em dia. As empresas podem obter diversos ganhos ao adotar um modelo de gestão baseado na métrica do valor do cliente, tanto em fatores econômicos quanto em fatores que abordam o retorno do investimento em marketing. O objetivo geral deste estudo é identificar nas empresas pesquisadas os principais fatores que limitam a utilização da métrica valor do cliente nos processos estratégicos. O estudo buscou avaliar por meio da revisão bibliográfica e empresas pesquisadas como a métrica do valor do cliente está inserida no dia a dia das companhias analisadas, quais são os indicadores presentes nos processos e como os setores financeiro e marketing se relacionam quando o assunto em questão é “cliente”. Os temas valor do cliente (CE) e valor do cliente ao longo da vida (CLV) ainda apresentam diversas lacunas como a relação das estratégias de marketing interligadas com o retorno para a empresa, a interpretação dos investidores com referência as métricas de marketing e a real eficiência das estratégias de marketing. A análise sobre os fatores limitadores da utilização da métrica do valor cliente, bem como os indicadores utilizados pelas organizações, foi embasada através da coleta de dados qualitativa por meio de entrevistas, realizadas em três empresas pré selecionadas, com a alta gerência comercial, financeira e de marketing de cada, totalizando nove entrevistas e uma entrevista de apoio com um consultor financeiro especializado em valor de empresas. Como principais resultados da pesquisa aponta-se: falta de foco no valor do cliente na empresa, orientação estratégica somente no incremento de receita por meio de novos clientes, cliente visto como ativo intangível no processo estratégico e falta de conhecimento das métricas de marketing. Dentre estes aspectos, destacam-se os fatores limitadores decorrentes destas causas: o fator tecnológico, o fator cultural e o fator comunicação eficiente entre as áreas. / Knowing how to conduct customer base in order to make efficient marketing investment is an important factor in the strategic process of the companies today. Thecompanies can get many gains by adopting a management model based on metrics of customer equity, both on economic factors as factors that address the return on marketing investment. The aim of this study is to identify the companies surveyed the main factors that limit the use of measuring customers equity in strategic processes. The study evaluated through literature review and companies surveyed as the metric of customer equity is included on the day-to-day of the analyzed companies, which are the indicators present in the process and how the financial sectors and marketing relate when the subject matter is "customer". The Customer Equity issues (CE) and Customer Lifetime Value (CLV) still have several shortcomings such as relationship marketing strategies linked with the return to the company, the interpretation of investors with reference marketing metrics and the actual efficiency of strategies marketing. The analysis of the limiting factors of the use of customer equity metrics and indicators used by organizations, was based by qualitative data collection through interviews conducted in three pre selected companies with high commercial, financial and marketing management, totaling nine interviews and a supporting interview with an expert financial advisor in value companies. The main results on this research is pointed out: lack of focus on customer equity in the company, strategic guidance only on revenue growth through new customers, customer viewed as an intangible asset in the strategic process and lack of knowledge of marketing metrics. Among these aspects, it highlights the technological and cultural factor and efficient communication between the areas.

[pt] Em um contexto mercadológico de orientação para o mercado e não mais para o produto, torna-se fundamental que as empresas conheçam seus clientes, entreguem valor a eles e maximizem o valor dos clientes para a empresa. O valor do cliente está relacionado ao valor econômico do relacionamento do cliente com a empresa. Nesta relação, empresas podem obter informações em relação ao comportamento dos clientes e construir bases de dados valiosas que ajudem a compreender o perfil de cada um e mensurar o valor dos mesmos. A partir de uma base de dados de clientes de uma grande empresa de varejo no setor supermercadista, esse trabalho tem como objetivo propor um modelo de classificação de clientes de alto valor e analisar a resposta destes e dos demais clientes a uma ação de relacionamento de cross-selling, compreendendo o impacto desta ação no aumento de valor do cliente. O trabalho contribui com o entendimento do perfil de clientes com maior e menor propensão de resposta a uma ação de CRM e a consequente geração de valor à base de clientes, sendo útil a praticantes e acadêmicos. A partir de um modelo de dados secundários extraídos de bancos de dados de um supermercado brasileiro, aplicou-se modelos machine learning de classificação em uma base de mais de mil e quinhentos clientes para encontrar modelos que expliquem clientes de alto valor. / [en] In a market context oriented towards the customer and no longer towards the product, it is essential that companies know their customers, deliver value to them and maximize the value of customers to the company. The value of the customer is related to the economic value of the customer s relationship with the company. In this relationship, companies can obtain information regarding customer behavior and build valuable databases that help to understand each other s profile and measure their value. Based on a database of customers of a large retail company in the supermarket sector, this work aims to propose a model for classifying high-value customers and analyze the response of these and other customers to a cross-selling relationship action, understanding the impact of this action on increasing customer value. The work contributes to the understanding of the customer profile with greater and lesser propensity to respond to a CRM action and the consequent generation of value to the customer base, being useful to practitioners and academics. Using a secondary data model extracted from databases in a Brazilian supermarket, machine learning classification models were applied to a base of more than thousand five hundred customers to find models that explain high-value customers.

Syfte: Studiens syfte är att undersöka svenska och amerikanska företagsmäklares inställning till kundkapitalet och dess värderingsmodeller. Studien syftar även till att finna konsekvenser som en explicit redovisning av kundkapitalet skulle ha på företagsvärderingar.   Tidigare forskning: Centrala modeller i studien är Customer Lifetime Value, Customer Equity, Customer Profitability och Multi-Period Excess Earnings Model. Tidigare forskning hittas i Edvinsson och Malone (1997), Gupta et al (2004), Villanueva och Hanssens (2007), Wiesel et al., (2006) samt Hofstedes forskning om nationella dimensioner.    Metod: Studien använder metodtriangulering. Huvudsaklig primärdata genereras ur webbaserade enkäter som skickas till svenska och amerikanska företagsmäklare. Vidare utförs tre semi-strukturerade intervjuer med representanter från KPMG, Deloitte och UC. Ett chi-tvåtest utformas för att se om det finns ett samband mellan nationalitet och företagsmäklares inställning till att beakta kundkapitalet.   Slutsats: 72 procent av de deltagande företagsmäklarna och samtliga intervjupersoner anser att det är viktigt att värdera kundkapitalet. Trots detta är det endast 38 procent av enkätrespondenterna som svarar att de beaktar kundkapitalet vid värdering av kundbaserade företag. En jämförelse mellan nationaliteterna visar att svenska företagsmäklare är mer positiva till de ”nya” kundvärderingsmodellerna, främst Customer Equity och Customer Profitability. De är också mer benägna att använda dessa. Amerikanska företagsmäklare tenderar istället att använda den traditionella Multi-Period Excess Earnings Method. / Purpose: The purpose of this thesis is to investigate Swedish and American business appraisers’ attitude towards customer capital and its valuation models. This thesis also aims to find consequences that an explicit accounting of customer capital would have on business valuations.  Previous Research: Central models in this study are Customer Lifetime Value, Customer Equity, Customer Profitability and Multi-Period Excess Earnings Method. Previous research is found in Edvinsson and Malone (1997), Gupta et al., (2004), Villanueva and Hanssens (2007), Wiesel et al., (2006) and Hofstedes research regarding cultural dimensions. Method: This study uses a triangulation of methods. The main primary data is generated through internet-based questionnaires which was sent to Swedish and American business appraisers. Furthermore, three semi-structured interviews are conducted with representatives from KPMG, Deloitte and UC. A chi-Squared test is made to see if there is any relationship between nationality and business appraisers’ attitude towards taking heed of the customer capital. Conclusion:  72 per cent of the participated business appraisers and all interviewees think that it is important to value customer capital. Despite this, there are only 38 per cent of the survey respondents who say that they account for customer capital when valuing customer-based companies. A comparison between the nationalities show that Swedish business appraisers are more positive towards the “new” customer valuation models such as Customer Equity and Customer Profitability. They are also more inclined to use these. American business appraisers tend to use the more traditional Multi-Period Excess Earnings Method.

品牌權益的相關研究與實務已經做了許多年，但對於一個包涵面更廣的管理概念－「顧客權益」的相關研究，則是一塊比較新穎的研究領域。「顧客權益」的觀念能幫助企業更加了解、管理和維持舊有的顧客，並積極爭取新顧客，而且又將顧客視為一項重要資產，以審慎的觀念與態度加以管理。 根據Rust, Zeithaml和Lemon（2001）提出的顧客權益架構，即價值權益、品牌權益、關係權益三個構面所形成之構念，本研究將其與傳/直銷商五大類活動相結合，即核心表現、對會員貢獻之肯定、會員間相互依賴之加強、傳播組織知識及招攬外部會員之需求，使顧客權益的模式應用到傳/直銷業者舉辦的活動上，藉以了解在傳/直銷業中，顧客權益是如何藉由互動活動來影響組織的顧客經營績效，即顧客取得、連帶銷售及顧客維持。 本研究採便利抽樣法，選取美樂家、安麗、玫琳凱及如新等四家傳/直銷公司之會員為研究對象，共回收有效問卷306份進行LISREL統計分析，得到以下結果﹕ 一、核心表現對社群建立及知識建立的影響效果有顯著差異﹔對會員貢獻之肯定對特別的辨識及對待和認同感的影響效果有顯著差異﹔會員間相互依賴之加強對社群建立的影響效果有顯著差異﹔傳播組織知識對認同感、社群建立和知識建立的影響效果有顯著差異﹔招攬外部會員之需求對品牌知曉度及忠誠度回饋的影響效果有顯著差異。 二、價值權益中的認知價格對顧客取得、品質對顧客維持的影響效果各有顯著差異﹔品牌權益中的對品牌的態度對顧客取得、企業倫理對顧客維持的影響效果有顯著差異﹔關係權益中的忠誠度回饋和社群建立對顧客取得的影響效果皆有顯著差異﹔知識建立對連帶銷售的影響效果有顯著差異﹔社群建立和知識建立對顧客維持的影響效果亦有顯著差異。 三、核心表現會透過影響社群建立，再從社群建立影響顧客取得及顧客維持，亦可透過對知識建立的影響，再從知識建立影響連帶銷售及顧客維持﹔會員間相互依賴之加強會透過影響社群建立，再從社群建立影響顧客取得及顧客維持﹔傳播組織知識可透過知識建立來影響連帶銷售的提升及顧客維持，亦可透過社群建立來影響顧客之取得及顧客之維持﹔招攬外部會員之需求可透過忠誠度回饋進而影響顧客取得。 / Although many researchers have done lots of researches and practices about brand equity for many years, there is a new and scarce researching area called customer equity, which contains wider managing concept more than brand equity. The concept of customer equity could help the company to know, mange, and retain their customers more and to acquire the new customers aggressively as well. Moreover, it helps company to view customers as an important asset and to manage them in a cautious way and attitude. According to the structure of customer equity proposed by Rust, Zeithaml and Lemon in 2001, which is the concept including value equity, brand equity, and retention equity, this study combines it with five major activities between the multi-level marketing operators and companies, which are, core service performance, recognition for contributions, member interdependence enhancement, dissemination of organizational knowledge, and external membership requirements, to know that how does it work to influence the customer acquisition, add-on selling, and customer retention by which kind of activities. This study takes four companies’ members as researching subjects. With collecting 306 valid samples, this study uses LISREL as a tool to analyze the data. The results are as follows: 1. Core service performance has significant influence both on community -building program and knowledge-building program. Recognition for contribution has significant influence both on special recognition and treatment and affinity program. Member interdependence enhancement has significant influence on community-building program. Dissemination of organizational knowledge has significant influence each on affinity program, community-building program, and knowledge-building program. External membership requirement has significant influence both on brand awareness and loyalty program. 2. Price has significant influence on customer acquisition and quality has significant influence on customer retention as well. Attitude toward the brand has significant influence on customer acquisition and corporate ethics has significant influence on customer retention as well. Both loyalty program and community-building program has significant influence on customer acquisition. Knowledge-building program has significant influence on add-on selling. Both community-building program and knowledge-building program has significant influence on customer retention. 3. Core service performance will influence customer acquisition, add-on selling, and customer retention indirectly by community-building program and knowledge-building program. Member interdependence enhancement will influence customer acquisition and retention indirectly by community-building program. Dissemination of organizational knowledge will influence customer acquisition, add-on selling, and customer retention indirectly by community-building program and knowledge-building program. Finally, external membership requirement will influence customer acquisition indirectly by loyalty program.