A conceptual framework for customer  value management

Ana Pedreño-Santos; Jesús García-Madariaga

doi:10.51302/marketing.2022.806

Authors

Ana Pedreño-Santos Doctora en Maketing. Universidad Complutense de Madrid (España) https://orcid.org/0000-0002-9230-7872
Jesús García-Madariaga Doctor en Maketing. Universidad Complutense de Madrid (España) https://orcid.org/0000-0002-9073-0482

DOI:

https://doi.org/10.51302/marketing.2022.806

Keywords:

customer value, customer lifetime, retention, marketing variables, perceived value, purchase intention, satisfaction, switching costs

Abstract

It is essential for a company to be engagement-oriented and analyze how marketing variables affect customer value and how it improves efficiency in both customer attraction and retention. But a comprehensive, integrated assessment of all marketing variables and their interdependencies is an arduous and complex task and thereby, an unsettled issue.

Using relationship marketing literature as the theoretical basis of this research, this study overviews marketing variables empirical research, from a customer value perspective. First, we describe the most relevant relationships between each variable and customer value. Then we present a structured framework of the relationships observed between the variables. Lastly, we give some guidelights to manage marketing variables in a unitary manner, considering that the strategies and budgets for attraction and retention should be carried out jointly. The resulting framework shows that customer value is necessarily achieved over customer lifetime, and mainly through four clear predictors: perceived value, purchase intention, satisfaction and switching costs. Such framework can be used by entrepreneurs and marketing managers as a roadmap to customer value that facilitates understanding the significance of marketing variables predicting customer value and their underlying relations.

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Author Biographies

Ana Pedreño-Santos, Doctora en Maketing. Universidad Complutense de Madrid (España)

Is Associate Professor at the Business and Economics Faculty of the Universidad Complutense of Madrid, Spain. Ph.D. in Marketing and member of the University Research team “Markco2”. She has also an extensive experience as Marketing Manager in different International Companies as well as in Marketing and Media Consulting Agencies. Refereed international journals where her research has been published are Technological and Economic Development of Economy, Journal of Communication Management and Services Marketing Quarterly.

Jesús García-Madariaga, Doctor en Maketing. Universidad Complutense de Madrid (España)

Is Full Professor, Chair of the Marketing department at Universidad Complutense of Madrid and Head of the University Research team “Markco2”. His research has been published in refereed international journals, including Decision Support Systems, Journal of Heritage Tourism, Physiology & Behavior, Technological and Economic Development of Economy, Journal of Retailing and Consumer Services, Journal of Communication Management and Journal of Business Ethics. He is Editor in Chief for International Journal of Internet Marketing and Advertising (IJIMA) and member of the Scientific Committee of some others

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