Title: Assessing the implications on performance when aligning customer lifetime value calculations with religious faith groups and afterlifetime values - a Socratic elenchus approach
Authors: Jonathan A.J. Wilson; Svend Hollensen
Addresses: Business School, Old Royal Naval College, University of Greenwich, Maritime Campus, London, SE10 9LS, UK. ' Department of Border Region Studies, University of Southern Denmark, Alsion 2, 6400 Sønderborg, Denmark
Abstract: Customer lifetime value (CLV) is an established relationship marketing-centric approach to evaluating performance: based upon the significance of a customer, and what resources should be allocated towards maintaining relations - beyond short-term transactional views. The conceptual argument presented in this paper contributes one very simple, yet significant argument, which is both transactional and relational. Namely, a large portion of humanity believes in a life beyond current existence - the afterlife. Therefore, death in the psyche of such a person does not terminate benefit seeking, and there is value in the afterlife. The aim here is to refine value-based calculations, drawing from varying religious perspectives: reincarnation, heaven, and enlightenment, amongst others. A particular focus has been given to Islamic schools of thought and practices, as a test case and in response to market growth and interest trends. The method adopted uses a conceptual Socratic elenchus approach - drawing from interpretive phenomenological analysis and syllogisms, building on allegorical anecdotal evidence. The paper ends with a proposal for a four-step managerial decision model that may reformulate branding strategies, based upon maximising the sum of CLV and customer afterlife time value (CALV).
Keywords: marketing performance; performance measures; relationship marketing; consumer behaviour; customer lifetime value; CLV; faith based commerce; world religions; spirituality; branding; brand management strategy; Islam; Muslims; religious faith groups; afterlife; market growth; interpretive phenomenology; managerial decision making.
International Journal of Business Performance Management, 2013 Vol.14 No.1, pp.67 - 94
Received: 15 Jul 2011
Accepted: 05 Mar 2012
Published online: 19 Nov 2012 *