Social relationship and transactional marketing policies---maximizing customer lifetime value
type: Item
instance of: scholarly article
title: Social relationship and transactional marketing policies---maximizing customer lifetime value
zbMATH Open document ID: 1185.91109
published in: Journal of Optimization Theory and Applications
publication date: 2009-11-04T00:00:00Z
review text: The authors use the methodology of optimal control -- in particular, the theory of linear control systems -- to derive optimal policies and the conditions under which they are either commitment (state) -- dependent or independent. They further use an idea established in the paper of Fruchter and Messinger to analytically pinpoint the relationship between marketing policies and commitments over time. The results also indicate how best to allocate resources for the two types of marketing efforts in building and maintaining the relationship.
reviewed by: Marian Matłoka
Mathematics Subject Classification ID: 91B55
Mathematics Subject Classification ID: 37N40
Mathematics Subject Classification ID: 91B06
zbMATH DE Number: 5625127
zbMATH Keywords: customer lifetime value
zbMATH Keywords: dynamic optimization
zbMATH Keywords: optimal control
zbMATH Keywords: social relationships
zbMATH Keywords: transactional marketing
author: Gila E. Fruchter
author: Simon P. Sigue
MaRDI profile type: Publication
full work available at URL: s10957-009-9536-1
OpenAlex ID: W1979042447
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DOI: 10.1007/S10957-009-9536-1
description: scientific article; zbMATH DE number 5625127