Customer Lifetime Value (CLV) is the core concept of relationship marketing and is increasingly addressed in scholarly and business articles. However, there is a big gap in the literature to make CLV thoroughly applicable in business. This paper aims to illuminate the trend of CLV by critical...

Purpose – The purpose of this paper is to allocate marketing budgets in complex environments, where data are scarce and management judgment is available. In this research, marketing budgets are allocated, to maximize customer equity as a long-term profitability measure....

Purpose – The main purpose of this research is to find an optimal allocation of marketing budgets which maximizes customer equity in an uncertain environment. Since markets are naturally uncertain environments, the aim is to incorporate uncertainty into the model. Design/methodology/approach...