How Artificial Intelligence Is Creating the Era of Empathy
This book explores the impact of AI on everyday life, looking into workers' adaptation to these changes, the ways in which managers can change the nature of jobs in light of AI developments, and the potential for humans and AI to continue working together.
How Customer Lifetime Value Is Reshaping Corporate Strategy
In their quest to become more customer-focused, companies often find themselves trapped in outdated systems and strategies shaped by a product-centered perspective. To facilitate this transition, marketing strategy experts Roland T. Rust, Valarie A. Zeithaml, and Katherine N. Lemon present a new model called "Customer Equity," aimed at maximizing the total lifetime value of a firm's customer base. Their Customer Equity Framework offers valuable insights for enhancing customer value. The authors introduce three key drivers of customer equity: Value Equity, Brand Equity, and Retention Equity, explaining how managers can develop strategies based on these drivers in straightforward language. They illustrate how to create competitive metrics to assess a company's Customer Equity against competitors and identify which drivers hold the most significance in various industries. Additionally, they guide managers in making strategic trade-offs regarding investments in these drivers and projecting financial returns. The book also features the Customer Pyramid, which segments customers by long-term profitability, and highlights the Internet as a crucial tool for Customer Equity, showcasing examples from companies like Intuit.com and Schwab.com. In today's one-to-one marketing landscape, grasping how to enhance Customer Equity is vital for any firm, making this work essential for marketing managers and anyone focused on increasing customer