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Management article
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Reference no. U0108B
Published by: Harvard Business Publishing
Published in: "Harvard Management Update", 2001

Abstract

Most companies would say they''re working hard to become more customer- centric, but very few are actually taking an asset-management approach to their customer relationships. There is hope, however. Companies can create and use real financial measures of customer value to help them make better decisions on everything from where to spend marketing dollars to choosing which prospects to target, which customers to retain, and which existing relationships to end.

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Abstract

Most companies would say they''re working hard to become more customer- centric, but very few are actually taking an asset-management approach to their customer relationships. There is hope, however. Companies can create and use real financial measures of customer value to help them make better decisions on everything from where to spend marketing dollars to choosing which prospects to target, which customers to retain, and which existing relationships to end.

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