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Assessing the implications on performance when aligning customer lifetime value calculations with religious faith groups and afterlifetime values - a Socratic elenchus approach

Assessing the implications on performance when aligning customer lifetime value calculations with religious faith groups and afterlifetime values - a Socratic elenchus approach

Wilson, Jonathan A.J. and Hollensen, Svend (2012) Assessing the implications on performance when aligning customer lifetime value calculations with religious faith groups and afterlifetime values - a Socratic elenchus approach. International Journal of Business Performance Management (IJBPM), 14 (1). pp. 67-94. ISSN 1368-4892 (Print), 1741-5039 (Online) (doi:10.1504/IJBPM.2013.050588)

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Abstract

Customer lifetime value (CLV) is an established relationship marketing-centric approach to evaluating performance: based upon the significance of a customer, and what resources should be allocated towards maintaining relations - beyond short-term transactional views. The conceptual argument presented in this paper contributes one very simple, yet significant argument, which is both transactional and relational. Namely, a large portion of humanity believes in a life beyond current existence - the afterlife. Therefore, death in the psyche of such a person does not terminate benefit seeking, and there is value in the afterlife. The aim here is to refine value-based calculations, drawing from varying religious perspectives: reincarnation, heaven, and enlightenment, amongst others. A particular focus has been given to Islamic schools of thought and practices, as a test case and in response to market growth and interest trends. The method adopted uses a conceptual Socratic elenchus approach - drawing from interpretive phenomenological analysis and syllogisms, building on allegorical anecdotal evidence. The paper ends with a proposal for a four-step managerial decision model that may reformulate branding strategies, based upon maximising the sum of CLV and customer afterlife time value (CALV).

Item Type: Article
Additional Information: [1] Online Date: December 03, 2012.
Uncontrolled Keywords: marketing performance, performance measures, relationship marketing, consumer behaviour, customer lifetime value, CLV, faith based commerce, world religions, spirituality, branding, brand management strategy, Islam, Muslims, religious faith groups, afterlife, market growth, interpretive phenomenology, managerial decision making
Subjects: H Social Sciences > HF Commerce
Faculty / Department / Research Group: Faculty of Business > Department of Marketing, Events & Tourism
Related URLs:
Last Modified: 14 Oct 2016 09:22
Selected for GREAT 2016: None
Selected for GREAT 2017: None
Selected for GREAT 2018: None
URI: http://gala.gre.ac.uk/id/eprint/8824

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