Scientific mapping for customer lifetime value research in organizations using cluster analysis method
1
(
Ph.D. student, Department of Business Management, Yazd Branch, Islamic Azad University, Yazd, Iran
)
Shahnaz Nayebzadeh
2
(
Professor, Department of Business Management, Yazd Branch, Islamic Azad University, Yazd, Iran
)
Seyed Hasan Hatami Nesab
3
(
Associate Professor, Department of Business Management, Yazd Branch, Islamic Azad University, Yazd, Iran
)
Mohammad Taghi Honari
4
(
Assistant Professor, Department of Industrial Management, Yazd Branch, Islamic Azad University, Yazd, Iran
)
Keywords: Customer Lifetime Value, Systematic Review, Scientometrics, Cluster Analysis,
Abstract :
The aim of this research is to analyze and map international scientific publications related to Customer Lifetime Value (CLTV). This study adopts an interpretive paradigm and employs a descriptive approach using a systematic review method. By utilizing specific search terms in the Web of Science database, covering the period from 1985 to 2024, and after thorough screening and qualitative assessment of the studies, the final analysis was conducted on 639 articles.
An in-depth examination of the selected articles revealed a notable increase in international research in this field, particularly during the last twenty years. However, there have been periods of decreased research activity in years such as 2008, 2017, and 2023. The primary focus of this research has been on customer lifetime value and customer segmentation, with a significant association to the keyword "data mining," highlighting the importance of this technique in the discipline.
Moreover, it was found that countries like Iran, Canada, and Turkey have lower average citation rates, whereas the United States, France, and Germany exhibit higher average citation rates. This suggests different patterns of co-authorship among these countries. By examining the most and least productive countries and researchers through scientometrics, new research opportunities in the field of customer lifetime value can be identified, providing insights for Iranian researchers to enhance the visibility of their findings on an international scale.
AboElHamd, E., Shamma, H. M., & Saleh, M. (2020). Dynamic programming models for maximizing customer lifetime value: an overview. In Intelligent Systems and Applications: Proceedings of the 2019 Intelligent Systems Conference (IntelliSys) Volume 1 (pp. 419-445). Springer International Publishing. https://doi.org/10.1007/978-3-030-29516-5_34
Abdolvand, N., Albadvi, A., & Koosha, H. (2021). Customer lifetime value: Literature scoping map, and an agenda for future research. International Journal of Management Perspective, 1(3), 41-59. https://ssrn.com/abstract=3926592
Asadi Ejgerdi, N., & Kazerooni, M. (2024). A stacked ensemble learning method for customer lifetime value prediction. Kybernetes, 53(7), 2342-2360. https://doi.org/10.1108/K-12-2022-1676[In Persian]
Azhdari, A., Moeinaddin, M., Heirani, F., & Nayebzadeh, S. (2020). Drawing a Scientific Map for Social Responsibility Research in the Field of Health using Thematic Cluster Analysis Method. The Journal of Tolooebehdasht, 19 (1) ,58-72. https://doi.org/10.18502/tbj.v19i1.2817[In Persian]
Azodi, Z., Moeinaddin, M., & Shahmoradi, N. (2024). Analysis of Scientometrics Maps in Scientific Productions Regarding the Career Path of Accountants. Scientometrics Research Journal, 10(1, spring & summer)), 283-304. https://doi.org/10.22070/rsci.2023.17152.1640[In Persian]
Berger, P. D., & Nasr, N. I. (1998). Customer lifetime value: Marketing models and applications. Journal of interactive marketing, 12(1), 17-30. https://doi.org/10.1002/(SICI)1520-6653(199824)12:1<17::AID-DIR3>3.0.CO;2-K
Baidya, M. K., Maity, B., & Ghose, K. (2019). Innovation in marketing strategy: A customer lifetime value approach. Journal of Business and Management, 25(2), 71-97. https://doi.org/10.1504/JBM.2019.141272
Castéran, H., Meyer-Waarden, L., & Reinartz, W. (2021). Modeling customer lifetime value, retention, and churn. In Handbook of market research (pp. 1001-1033). Cham: Springer International Publishing. https://doi.org/10.1007/978-3-319-57413-4_21
Chang, W., Chang, C., & Li, Q. (2012). Customer lifetime value: A review. Social Behavior and Personality: an international journal, 40(7), 1057-1064. http://dx.doi.org/10.2224/sbp.2012.40.7.1057
Chan, S. L., & Ip, W. H. (2011). A dynamic decision support system to predict the value of customer for new product development. Decision support systems, 52(1), 178-188. https://doi.org/10.1016/j.dss.2011.07.002
Čermák, P. (2015). Customer profitability analysis and customer life time value models: Portfolio analysis. Procedia Economics and Finance, 25, 14-25. https://doi.org/10.1016/S2212-5671(15)00708-X
Dandis, A. O., Al Haj Eid, M. B., Robin, R., & Wierdak, N. (2022). An empirical investigation of the factors affecting customer lifetime value. International journal of quality & reliability management, 39(4), 910-935. https://doi.org/10.1108/IJQRM-12-2020-0412
De Marco, M., Fantozzi, P., Fornaro, C., Laura, L., & Miloso, A. (2021). Cognitive analytics management of the customer lifetime value: an artificial neural network approach. Journal of Enterprise Information Management, 34(2), 679-696. https://doi.org/10.1108/JEIM-01-2020-0029
Firmansyah, E. B., Machado, M. R., & Moreira, J. L. R. (2024). How can Artificial Intelligence (AI) be used to manage Customer Lifetime Value (CLV)—A systematic literature review. International Journal of Information Management Data Insights, 4(2), 100279. https://doi.org/10.1016/j.jjimei.2024.100279
Ghale, R. D., Karimi, F., & Dinani, H. G. (2021). Customer Lifetime Value of Supplementary Health Insurance: An Analytical Model. Evidence Based Health Policy, Management and Economics. 5(4), 267-275.https://doi.org/10.18502/jebhpme.v5i4.8162
Jafariyan, H., Nayebzadeh, S., Davodi Roknabadi, A., & Hatami Nasab, S. H. (2021). Analyzing the Intellectual Paradigm of Fashion Branding in International Research. International Journal of Information Science and Management (IJISM), 19(1), 59-74. https://20.1001.1.20088302.2021.19.1.5.1
Jasek, P., Vrana, L., Sperkova, L., Smutny, Z., & Kobulsky, M. (2019). Comparative analysis of selected probabilistic customer lifetime value models in online shopping. Journal of Business Economics and Management, 20(3), 398-423. https://doi.org/10.3846/jbem.2019.9597
Jasek, P., Vrana, L., Sperkova, L., Smutny, Z., & Kobulsky, M. (2018, January). Modeling and application of customer lifetime value in online retail. Informatics, 5(2), 1-22. https://doi.org/10.3390/informatics5010002
Kumar, V. (2018). A theory of customer valuation: Concepts, metrics, strategy, and implementation. Journal of Marketing, 82(1), 1-19. https://doi.org/10.1509/jm.17.0208
Kumar, V., & Rajan, B. (2020). Customer lifetime value: What, how, and why. In The Routledge companion to strategic marketing (pp. 422-448). Routledge. http://dx.doi.org/10.1561/1700000004
Nabizade, Fateme, & Rouhani, Saees. (2021). Clustering and Prediction Model of Customer Lifetime Value (Case Studies: IRAN National Center for Numbering Goods and Services). JOURNAL OF INDUSTRIAL MANAGEMENT PERSPECTIVE (JIMP), 10(4 (40) ), 41-63. https://10.52547/jimp.10.4.41[In Persian]
Rahimiaghdam, S., Faryabi, M., & Azizkhah Alanagh, S. (2021). The Impact of Relationship Marketing on Customer Lifetime Value With the Mediating Role of Relationship Quality. Commercial Surveys, 18(105), 71-84. https://20.1001.1.26767562.1399.18.105.5.8[In Persian]
Razmi, J., & Ghanbari, A. (2009). Introducing a novel model to determine CLV. Journal of Information technology management, 1(2), 35-50. https://sid.ir/paper/140417/en[In Persian]
Rane, N. L., Achari, A., & Choudhary, S. P. (2023). Enhancing customer loyalty through quality of service: Effective strategies to improve customer satisfaction, experience, relationship, and engagement. International Research Journal of Modernization in Engineering Technology and Science, 5(5), 427-452. https://www.doi.org/10.56726/IRJMETS38104
Segarra-Moliner, J. R., & Moliner-Tena, M. Á. (2024). Engaging in customer citizenship behaviours to predict customer lifetime value. Journal of Marketing Analytics, 12(2), 307-320. https://doi.org/10.1057/s41270-022-00195-2
Sancak, I. E. (2023). Change management in sustainability transformation: A model for business organizations. Journal of Environmental Management, 330, 117165. https://doi.org/10.1016/j.jenvman.2022.117165
Valentini, T., Roederer, C., & Castéran, H. (2024). From redesign to revenue: measuring the effects of servicescape remodeling on customer lifetime value. Journal of Retailing and Consumer Services, 77, 103681. https://doi.org/10.1016/j.jretconser.2023.103681
Valli, L. N. (2024). A succinct synopsis of predictive analysis applications in the contemporary period. International Journal of Multidisciplinary Sciences and Arts, 3(4), 26-36. https://doi.org/10.47709/ijmdsa
Venkatesan, R., & Kumar, V. (2004). A customer lifetime value framework for customer selection and resource allocation strategy. Journal of marketing, 68(4), 106-125. https://doi.org/10.1509/jmkg.68.4.106.42728