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Denish Shah and Ayan Ghosh Dastidar

A ‘habit’ is defined as a person’s psychological disposition to repeat past behavior. About 45% of daily human behavior can be deemed habitual and prone to repetition. In the context of marketing, onset of customer habits has known to have substantive implications on firm performance. In this chapter, the authors have a detailed discussion on what, how and why different habits may be formed by customers as they repetitively transact with a firm. The authors synthesize extant research to find that not only do customers develop different types of habitual behaviors but also the rate of habit formation varies significantly for each customer of a firm. Consequently, a framework is proposed to exploit customer-level differences in habit formation and hence optimally manage customer profits through implementation of customer-centric marketing for firms. The chapter concludes with a discussion of three important areas for future research.

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V. Kumar and Denish Shah

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Edited by V. Kumar and Denish Shah

Customer equity has emerged as the most important metric to manage firm performance. This Handbook covers a broad range of strategic and tactical issues related to defining, measuring, managing, and implementing the customer equity metric for maximizing firm performance. Drawing upon the wisdom of a global pool of leading scholars, the book serves as a comprehensive and authoritative guide on customer lifetime value and customer equity for marketing researchers, practitioners, and students worldwide.