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Decision Models for Customer Relationship Management (CRM)

  • Werner J. Reinartz
  • Rajkumar Venkatesan
Part of the International Series in Operations Research & Management Science book series (ISOR, volume 121)

Introduction

The conceptual shift from a product-centric to a customer-centric organization has been a topic for discussion for more than a decade (Webster 1992; Day 1999). Despite the rhetoric and its conceptual appeal, the change to customer-centric organizations has, in reality, been slow (Webster et al. 2005). Yet in recent years, significant activities, in both managerial practice and academia, have emerged around the concept of customer relationship management (CRM) (Boulding et al. 2005), representing a step closer to creating a stronger customer orientation. In managerial practice, these activities seem to revolve around IT-related questions and practices, whereas in academia, the discussion focuses on issues such as customer satisfaction, retention, and profitability.

The purpose of this chapter is to describe and summarize existing academic models and approaches that have found CRM applications. As such, we attempt to provide an integrated, structured overview of some key...

Keywords

Customer Relationship Management Customer Retention Marketing Communication Direct Mail Customer Lifetime Value 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer Science+Business Media, LLC 2008

Authors and Affiliations

  1. 1.University of CologneGermany

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