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论文作者:留学生论文论文属性:职称论文 Scholarship Papers登出时间:2010-12-02编辑:anterran点击率:24642
论文字数:15463论文编号:org201012021352416958语种:英语 English地区:中国价格:免费论文
关键词:Customer satisfaction,Customer retentionValue analysisIntegration, Harvard Business
Customer value: a review of recent literature and an integrative configuration
Azaddin Salem Khalifa
Department
代写留学论文https://www.51lunwen.org/of Business Administration, College of Business and Management,University of Sharjah, University City, Sharjah, United Arab Emirates
Keywords :Customer satisfaction, Customer retention, Value analysis, Integration,
Competitive advantage
Abstract The concept of customer value is becoming increasingly used in strategy and marketing
literature in recent years. Customer value is considered central to competitive advantage and
long-term success of business organizations. Consequently, a great importance attached to this
concept. This paper attempts to build an integrative configuration of the concept of customer value
that reflects its richness and complexity. It reviews, synthesizes and extends the literature on the
subject. The configuration includes three complementary models, namely: customer value in
exchange, customer value buildup, and customer value dynamics. Thinking about customer value
in this way is helpful in the designing of and studying service offerings.
There is a growing interest on value-based/value-focused strategies, in recent years.
This interest is triggered by the belief that managing organizations from this
perspective will increase the likelihood of success (e.g., Slywotzky, 1996). Huber et al.
(2001) state that many marketing strategists and industrial-organization (IO)
economists emphasize that creation of superior customer value is a key element for
ensuring companies’ success (Higgins, 1998; Kordupleski and Laitamaki, 1997;
Milgrom and Roberts, 1995; Porter, 1996; Woodruff, 1997; Wyner, 1996).
The importance of superior customer value is acknowledged in most business
strategy models (Cravens et al., 1997). A clear understanding of the concept of value
becomes essential for the success of value-based strategies (Woodruff, 1997). Indeed,
superior value of products/services delivered to customers leads to customer loyalty,
the real driver of financial performance (see Reichheld et al., 2000; Heskett et al., 1997;
Reichheld, 1994). Reichheld and Sasser (1990) show that, on average, a five percentage
points increase in customer retention leads to between 40-50 percent increase in net
present value profits. A few years later, Reichheld (1994) reports that a decrease in
defection rate (or an increase in retention rate) of five percentage points can increase
profits by 25-100 percent and that this result is consistent across a wide array of
industries. Satisfaction is a state of mind and it is only important as an indication of the
intention of the most important behavior of repeat purchase, favorable word-of-mouth,
and referrals. Reichheld (1994) states that customers who describe themselves as
satisfied are not necessarily loyal. He reports that 60-80 percent of defecting customers
The Emerald Research Register for this journal is available at The current issue and full text archive of this journal is available at
www.emeraldinsight.com/researchregister www.emeraldinsight.com/0025-1747.htm
The author would like to acknowledge the valuable comments received from his colleagues in the
Department of Business Administration. He owes special thanks to Professor Farouk Saleh and
Dr Naceur Jabnoun. The author also acknowledges the valuable comments and suggestions for
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