TITLE

Marketing Models of Service and Relationships

AUTHOR(S)
Rust, Roland T.; Tuck Siong Chung
PUB. DATE
November 2006
SOURCE
Marketing Science;Nov/Dec2006, Vol. 25 Issue 6, p560
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
Given the growth of the service sector, and advances in information technology and communications that facilitate the management of relationships with customers, models of service and relationships are a fast-growing area of marketing science. This article summarizes existing work in this area end identities promising topics for future research. Models of service and relationships can help managers manage service more efficiently, customize service more effectively, menage customer satisfaction end relationships, and model the financial impact of those customer relationships. Models for managing service have often emphasized analytical approaches to pricing, but emerging issues such as the trade-off between privacy and customization are attracting increasing attention. The trade-offs between productivity and customization have also been addressed by both analytical and empirical models, but future research in the area of service customization will likely place increased emphasis on e-service and truly personalized interactions. Relationship models will focus less on models of customer expectations and length of relationship, and more on modeling the effects of dynamic marketing interventions with individual customers. The nature of service relationships increasingly leads to financial impact being assessed within customer end across product, rather then the traditional reverse, suggesting the increasing importance of analyzing customer lifetime value (CLV) and managing the firm's customer equity.
ACCESSION #
23934008

 

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