Analysis of customer lifetime value and marketing expenditure decisions through a Markovian-based model

DOI10.1016/j.ejor.2014.01.014zbMath1304.91149OpenAlexW2054091402MaRDI QIDQ2514831

Burç Ülengin, Yeliz Ekinci, Nimet Uray, Füsun Ülengin

Publication date: 4 February 2015

Published in: European Journal of Operational Research (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.ejor.2014.01.014

zbMATH Keywords

Markov decision processcustomer lifetime valueforecast models

Mathematics Subject Classification ID

Production theory, theory of the firm (91B38) Markov and semi-Markov decision processes (90C40) Consumer behavior, demand theory (91B42) Marketing, advertising (90B60)

Related Items

Customer-base analysis using repeated cross-sectional summary (RCSS) data ⋮ Model-based organizational decision making: a behavioral lens ⋮ Optimal acquisition and retention strategies in a duopoly model of competition

Uses Software

• OpenDP

Cites Work

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• Stochastic dynamic programming with factored representations
• Determining the optimal direct mailing frequency
• Time and inventory dependent optimal maintenance policies for single machine workstations: an MDP approach
• Robust Optimizers for Nonlinear Programming in Approximate Dynamic Programming
• Customer lifetime value: stochastic optimization approach

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