![]() Cambridge, MA, Massachusetts Institute of Technology. MSc Thesis, Department of Urban Studies and Planning. (2008) A real options analysis of a vertically expandable real estate development. Expert Systems with Applications 36 (2): 2062–2071. (2009) A modified pareto/NBD approach for predicting customer lifetime value. (2007) The role of channel quality in customer equity management. BT Technology Journal 23 (3): 24–29.Ĭopeland, T.E. Journal of the Operational Research Society 55 (2): 860–868.Ĭollings, D. (2004) Customer lifetime value: Stochastic optimization approach. (2011) Incorporating technical risk in compound real option models to value a pharmaceutical RandD licensing opportunity. Management Science 42 (9): 1364–1381.Ĭassimon, D., De Backer, M., Engelen, P.J., Van Wouwe, M. (1996) Mailing decisions in the catalog sales industry. Journal of Service Research 9 (2): 156–167.īitran, G.R. (2006) From customer lifetime value to shareholder value: Theory, empirical evidence, and issues for future research. Omega: International Journal of Management Science 29 (1): 49–62.īerger, P.D., Eechambadi, N., George, M., Lehmann, D.R., Rizley, R. (2001) The allocation of promotion budget to maximize customer equity. Journal of Interactive Marketing 12 (1): 17–30.īerger, P.D. (1998) Customer lifetime value: Marketing models and applications. International Journal of Production Economics 74 (1): 213–224.īenninga, S. (2001) Manufacturing flexibility and real options: A review. Journal of Petroleum Science and Engineering 44 (16): 67–82.īengtsson, J. (2004) Incorporating technical uncertainty in real option valuation of oil projects. (2011) A robust optimization approach to allocation of marketing budgets. Journal of Strategic Marketing 12 (1): 3–11.Īlbadvi, A. (2004) Real options and customer management in the financial services sector. Results show the classical models of CLV measurement ignore the value of options despite the fact that sometimes these options have considerable values and are decisive in managers’ decision making.Īdams, M. The applicability of the models is demonstrated by numerical illustrations. Each model is useful when the following options are available: option to market penetration, option to customer development through add-on selling and option of stage investment. In this research, we develop three models based on real options. Then, we focus on development of models to measure options’ values for better estimation of CLV. The research firstly aims to identify major options a seller has in relationship with its customers. This article aims to provide models to measure CLV using real options valuation. Real options valuation is the approach in such situations. Most CLV models cannot consider the management flexibility in uncertain situations. Acc.As the concept of Customer Lifetime Value (CLV) is gaining a growing acceptance to achieve superior efficiency and effectiveness of marketing plans, development of more accurate models to measure CLV is becoming an important issue. ![]() Zhou, X., Tan, Y., Zhou, S.: Research on IPO pricing of high tech enterprises based on multi variable causal compound option. Guo, J., Wang, D., Fan, Y., Liu, Y.: Research on the value evaluation system of Internet enterprises – based on the analysis of real option model. Wang, H., Yuqing, W., Li, S.: Research on interval characteristics and numerical simulation of high tech enterprise value evaluation. ![]() Liu, H., Fan, L.: Value evaluation of enterprise carbon intangible assets from the perspective of real options. Kellogg, D., Charnes, J.M.: Real-options valuation for a biotechnology company. Schwartz, E.S., Moon, M.: Rational pricing of internet companies revisited. Yang, C., Zhang, J.: Comparison and application of discounted cash flow method and real option valuation method.
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