Purpose – The calculations which underlie efforts to balance marketing spending on customer acquisition and customer retention are usually based on either single‐period customer profitability or forecasts of customer lifetime value (CLTV). This paper argues instead for risk‐adjusted CLTV,...

Opens by exploring the changing relationship between customer value and how it has been traditionally interpreted within the organisation. Business leaders today acknowledge that the traditional 4Ps approach to brand marketing needs to be transformed in order to realise a broader vision of...