Customer-centric marketing : a pragmatic framework / Ravi, R., and Baohong Sun.

"The revolution in big data has enabled a game-changing approach to marketing. The asynchronous and continuous collection of customer data carries rich signals about consumer preferences and consumption patterns. Use of this data can make marketing adaptive, dynamic, and responsive to changes in ind...

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Bibliographic Details
Main Authors: Ravi, R. (Ramamoorthi), 1969- (Author)
Sun, Baohong (Author)
Language:English
Published: Cambridge, Massachusetts : The MIT Press, [2016]
Subjects:
Physical Description:ix, 136 pages : illustrations ; 23 cm
Format: Book

MARC

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100 1 |a Ravi, R.  |q (Ramamoorthi),  |d 1969-  |e author.  |0 http://id.loc.gov/authorities/names/n00003544 
245 1 0 |a Customer-centric marketing :  |b a pragmatic framework /  |c Ravi, R., and Baohong Sun. 
264 1 |a Cambridge, Massachusetts :  |b The MIT Press,  |c [2016] 
300 |a ix, 136 pages :  |b illustrations ;  |c 23 cm 
336 |a text  |b txt  |2 rdacontent 
337 |a unmediated  |b n  |2 rdamedia 
338 |a volume  |b nc  |2 rdacarrier 
504 |a Includes bibliographical references (pages 121-125) and index. 
505 0 |a Preface -- An introduction to customer-centric marketing -- Conceptual framework for customer-centric marketing -- Modeling consumer choice -- Segmenting customers into latent classes based on sensitivity -- Customer lifetime value -- Marketing optimization problem -- Continuous learning and adaptive marketing decisions -- Implications and enablers -- Epilogue -- Notes -- References -- Index. 
520 |a "The revolution in big data has enabled a game-changing approach to marketing. The asynchronous and continuous collection of customer data carries rich signals about consumer preferences and consumption patterns. Use of this data can make marketing adaptive, dynamic, and responsive to changes in individual customer behavior. This book introduces state-of-the-art analytic and quantitative methods for customer-centric marketing (CCM). Rather than using a snapshot from the data to plot a single campaign-centric marketing plan, these methods draw on cutting-edge research in optimization and interactive marketing with the goal of maximizing long-term profit from data collected over time. The aim to teach readers to apply optimization tools to derive analytical solutions leading to customized, dynamic, proactive, and real-time marketing decisions. The book develops the CCM framework and illustrates it with four cases that span the life cycle of marketing: pricing, win-back, cross-sales, and customer service allocation. The text walks the reader through real-world examples of applying the framework (supported by spreadsheet models available online), then explains the key concepts: modeling consumer choice; segmenting customers into latent classes based on sensitivity; computing customer lifetime value (CLV); and dynamic optimization. The reader then learns to incorporate the continuous learning of customer preference into an adaptive feedback loop for marketing decisions. The book can be used as a text for MBA students or as a professional reference"--Back cover. 
650 0 |a Relationship marketing.  |0 http://id.loc.gov/authorities/subjects/sh96005326 
650 0 |a Customer relations.  |0 http://id.loc.gov/authorities/subjects/sh85034963 
650 0 |a Marketing  |x Management.  |0 http://id.loc.gov/authorities/subjects/sh85081339 
650 7 |a Customer relations.  |2 fast  |0 (OCoLC)fst00885533 
650 7 |a Marketing  |x Management.  |2 fast  |0 (OCoLC)fst01010209 
650 7 |a Relationship marketing.  |2 fast  |0 (OCoLC)fst01093590 
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650 0 4 |a Marketing relazionale  |x Pianificazione  |x Modelli matematici. 
700 1 |a Sun, Baohong,  |e author.  |0 http://id.loc.gov/authorities/names/n2005050558 
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952 f f |p Can Circulate  |a Michigan State University-Library of Michigan  |b Michigan State University  |c MSU Gast Business Library  |d MSU Gast Business Library  |t 0  |e HF5415.55 .R38 2016  |h Library of Congress classification  |i Printed Material  |m 31293034063770  |n 1