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Nowadays companies increasingly derive revenue from the creation and sustenance of long-term relationships with their customers. In such an environment, marketing serves the purpose of maximizing customer lifetime value (CLV) and customer equity, which is the sum of the lifetime values of the compan...
| Main Authors: | , |
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| Format: | Article |
| Language: | fas |
| Published: |
University of Tehran
2007-08-01
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| Series: | بررسیهای حسابداری و حسابرسی |
| Subjects: | |
| Online Access: | https://acctgrev.ut.ac.ir/article_18552_3c49bb9a53ce8058c5e7d811b5515f2d.pdf |
| _version_ | 1818207557366317056 |
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| author | بابک سهرابی امیر خانلری |
| author_facet | بابک سهرابی امیر خانلری |
| author_sort | بابک سهرابی |
| collection | DOAJ |
| description | Nowadays companies increasingly derive revenue from the creation and sustenance of long-term relationships with their customers. In such an environment, marketing serves the purpose of maximizing customer lifetime value (CLV) and customer equity, which is the sum of the lifetime values of the company’s customers. A frequently-encountered difficulty for companies wishing to measure customer profitability is that management accounting and reporting systems have tended to reflect product profitability rather than customer profitability. But in spite of these difficulties, Companies looking for methods to know how calculate their customers's CLV. In this paper, we used K-Mean clustering approach to determine customers's CLV and segment them based on recency, frequency and monetary (RFM) measures. We also used Discriminant analysis to approve clustering results. Data required applying this method gathered from one branch of an Iranian private bank which is established newly. Finally, in terms of this segmentation, we proposed customer retention strategies for treating with the bank customers. |
| first_indexed | 2024-12-12T04:30:49Z |
| format | Article |
| id | doaj.art-bbe2a89f4c254b2f9c47dd40a7fc880b |
| institution | Directory Open Access Journal |
| issn | 2645-8020 2645-8039 |
| language | fas |
| last_indexed | 2024-12-12T04:30:49Z |
| publishDate | 2007-08-01 |
| publisher | University of Tehran |
| record_format | Article |
| series | بررسیهای حسابداری و حسابرسی |
| spelling | doaj.art-bbe2a89f4c254b2f9c47dd40a7fc880b2022-12-22T00:38:06ZfasUniversity of Tehranبررسیهای حسابداری و حسابرسی2645-80202645-80392007-08-0114118552-بابک سهرابیامیر خانلریNowadays companies increasingly derive revenue from the creation and sustenance of long-term relationships with their customers. In such an environment, marketing serves the purpose of maximizing customer lifetime value (CLV) and customer equity, which is the sum of the lifetime values of the company’s customers. A frequently-encountered difficulty for companies wishing to measure customer profitability is that management accounting and reporting systems have tended to reflect product profitability rather than customer profitability. But in spite of these difficulties, Companies looking for methods to know how calculate their customers's CLV. In this paper, we used K-Mean clustering approach to determine customers's CLV and segment them based on recency, frequency and monetary (RFM) measures. We also used Discriminant analysis to approve clustering results. Data required applying this method gathered from one branch of an Iranian private bank which is established newly. Finally, in terms of this segmentation, we proposed customer retention strategies for treating with the bank customers.https://acctgrev.ut.ac.ir/article_18552_3c49bb9a53ce8058c5e7d811b5515f2d.pdfclusteringcustomer lifetime valueRelationship marketingRFM Model |
| spellingShingle | بابک سهرابی امیر خانلری - بررسیهای حسابداری و حسابرسی clustering customer lifetime value Relationship marketing RFM Model |
| title | - |
| title_full | - |
| title_fullStr | - |
| title_full_unstemmed | - |
| title_short | - |
| title_sort | |
| topic | clustering customer lifetime value Relationship marketing RFM Model |
| url | https://acctgrev.ut.ac.ir/article_18552_3c49bb9a53ce8058c5e7d811b5515f2d.pdf |