Measuring customer lifetime value (CLV) in contexts where customer defections are not observed, i.e. noncontractual contexts, has been very challenging for firms. This paper proposes a flexible Generalized Simulation-based estimation Framework (GSF) for predicting lifetimes and measuring...

This paper focuses on the literature related to customer lifetime value measurement. It first discusses the issues related to the context of CLV measurement and presents a contextual framework for understanding and categorizing models of CLV. The paper then reviews some prominent models for...

Customer relationship management (CRM) has been a cornerstone of marketing for sustainable profitability for many years.CRM means leveraging databases of customers to increase profitability. These databases primarily contained information on customers and their past customer-firm interactions to...