Evolution and Development of Customer Lifetime ...

As the concept of customer relationship management theory has been accepted by modern society, customer lifetime value gradually has been awarded by the marketing scholars and business community. How to calculate and predict customer lifetime value has become a hot research field in the customer relationship management. This paper reviewed and summarized the definition of customer lifetime value, qualitative and quantitative studies. Then it elaborated the status quo of customer lifetime value model study and its shortcomings. Finally, it proposed some suggestions for future study based on the existing research results.