The more a marketing paradigm evolves, the more long-term relationship with customers gains its importance. Also, the move towards a customer-centred approach to marketing, coupled with the increasing availability of customer transaction data, has led to an interest in understanding and estimating customer lifetime value (CLV). There are several researches about the CLV formulas and calculating...

Customer activity has received more attention due to the increase of social network applications. Moreover, customer activity could be an answer to the research debate about the significant relationship between retention rate and lifetime profitability of customers. Several researchers believe that an increase in the retention rate of customers may enhance their customer lifetime value (CLV), o...

data mining is a powerful tool for firms to extract knowledge from their customers’ transaction data. one of the useful applications of data mining is segmentation. segmentation is an effective tool for managers to make right marketing strategies for right customer segments. in this study we have segmented retailers of a hygienic manufacture. nowadays all manufactures do understand that for sta...

To support personalized marketing, it is necessary to identify an individual customer’s true value. Various researches on customer value have conducted under the name of Customer Lifetime Value (CLV), Customer Equity, Customer Profitability, and Lifetime Value. In this paper we present issues of calculating individual customer’s lifetime value to deploy more personalized CRM activities. We prop...

We  deal with the relationship termination problem in the context of individual-level customer relationship management (CRM) and use a Markov decision process to determine the most appropriate occasion for termination of the relationship with a seemingly unprofitable customer. As a particular case, the beta-geometric/beta-binomial model is considered as the basis to define customer beha...

Business all around the world uses different approaches to know their customers, segment them and formulate suitable strategies for them. One of these approaches is calculating the value of each customer for the company. In this paper by calculating Customer Lifetime Value (CLV) for individual customers of an online toy store named Alakdolak, three customer segments are extracted. The level of ...