New Perspectives on Customer “Death” Using a Generalization of the Pareto/NBD Model

References

• Abe M. “Counting your customers” one by one: A hierarchical Bayes extension to the Pareto/NBD model. Marketing Sci. (2009) 28(3):541–553Link, Google Scholar
• Abramowitz M., Stegun I. A.Handbook of Mathematical Functions (1972) (Dover Publications, New York) Google Scholar
• Barnett V. D. Evaluation of the maximum-likelihood estimator where the likelihood equation has multiple roots. Biometrika (1966) 53(1/2):151–165Crossref, Google Scholar
• Batislam E. P., Denizel M., Filiztekin A. Empirical validation and comparison of models for customer base analysis. Internat. J. Res. Marketing (2007) 24(3):201–209Crossref, Google Scholar
• Chatfield C., Goodhardt G. J. A consumer purchasing model with Erlang inter-purchase times. J. Amer. Statist. Assoc. (1973) 68(344):828–835Crossref, Google Scholar
• Daniels H. E. The asymptotic efficiency of a maximum likelihood estimator. Proc. 4th Berkeley Sympos. Math. Statist. Probab. (1961) 1(University of California Press, Berkeley) 151–163Google Scholar
• Ehrenberg A. S. C. The pattern of consumer purchases. Appl. Statist. (1959) 8(1):26–41Crossref, Google Scholar
• Fader P. S., Hardie B. G. S. A note on deriving the Pareto/NBD model and related expressions. (2005) . Retrieved April 10, 2010, http://brucehardie.com/notes/009/Google Scholar
• Fader P. S., Hardie B. G. S. Incorporating time-invariant covariates into the Pareto/NBD and BG/NBD models. (2007) . Retrieved April 10, 2010, http://brucehardie.com/notes/019/Google Scholar
• Fader P. S., Hardie B. G. S., Lee K. L. “Counting your customers” the easy way: An alternative to the Pareto/NBD model. Marketing Sci. (2005a) 24(2):275–284Link, Google Scholar
• Fader P. S., Hardie B. G. S., Lee K. L. RFM and CLV: Using iso-value curves for customer base analysis. J. Marketing Res. (2005b) 42(4):415–430Crossref, Google Scholar
• Fader P. S., Hardie B. G. S., Shang J. Customer-base analysis in a discrete-time noncontractual setting. Marketing Sci. (2010) 29(6):1086–1108Link, Google Scholar
• Gopinath S., Blattberg R., Malthouse E. Are revived customers as good as new? (2009) . Working paper, Northwestern University, Evanston, IL. http://ssrn.com/abstract=1356851Crossref, Google Scholar
• Gupta S., Morrison D. G. Estimating heterogeneity in consumers' purchase rates. Marketing Sci. (1991) 10(3):264–269Link, Google Scholar
• Ma S.-H., Liu J.-L. The MCMC approach for solving the Pareto/NBD model and possible extensions. Proc. 3rd Internat. Conf. Natural Comput. (ICNC 2007) (2007) (IEEE Computer Society, Washington, DC) 505–512Crossref, Google Scholar
• Morrison D. G., Schmittlein D. C. Generalizing the NBD model for customer purchases: What are the implications and is it worth the effort? J. Bus. Econom. Statist. (1988) 6(2):145–159Crossref, Google Scholar
• Newton M. A., Raftery A. E. Approximate Bayesian inference with the weighted likelihood bootstrap. J. Roy. Statist. Soc. Ser. B (1994) 56(1):3–48Google Scholar
• Platzer M. Stochastic models of noncontractual consumer relationships. (2008) . Master's thesis, Vienna University of Economics and Business Administration, ViennaGoogle Scholar
• Reinartz W., Kumar J. V. On the profitability of long-life customers in a noncontractual setting: An empirical investigation and implications for marketing. J. Marketing (2000) 64(4):17–35Crossref, Google Scholar
• Reinartz W. J., Kumar V. The impact of customer relationship characteristics on profitable lifetime duration. J. Marketing (2003) 67(1):77–99Crossref, Google Scholar
• Schmittlein D. C., Morrison D. G. Prediction of future random events with the condensed negative binomial distribution. J. Amer. Statist. Assoc. (1983) 78(382):449–456Crossref, Google Scholar
• Schmittlein D. C., Peterson R. A. Customer base analysis: An industrial purchase process application. Marketing Sci. (1994) 13(1):41–67Link, Google Scholar
• Schmittlein D. C., Morrison D. G., Colombo R. Counting your customers: Who are they and what will they do next? Management Sci. (1987) 33(1):1–24Link, Google Scholar
• Schweidel D. A., Knox G. Incorporating strategic direct marketing activity into “buy 'til you die” models. (2010) . Working paper, University of Wisconsin–Madison, Madison. http://ssrn.com/abstract=1670060Crossref, Google Scholar
• Singh S. S., Borle S., Jain D. C. A generalized framework for estimating customer lifetime value when customer lifetimes are not observed. Quant. Marketing Econom. (2009) 7(2):181–205Crossref, Google Scholar
• Tanner M. A., Wong W. H. The calculation of posterior distributions by data augmentation. J. Amer. Statist. Assoc. (1987) 82(398):528–540Crossref, Google Scholar
• Wübben M., Wangenheim F. v. Instant customer base analysis: Managerial heuristics often “get it right”. J. Marketing (2008) 72(3):82–93Crossref, Google Scholar