Customer Capital
A new language for marketing
Hamish Pringle Institute of Practitioners in AdvertisingPeter Fisk
The power base of marketing resides in expertise in managing a company's customers: identifying, influencing, acquiring, serving, satisfying and retaining them at a profit. The aggregate of this marketing process creates the company's customer base and the present and future value of the business its 'customer capital'.
Marketing can use this new concept of customer capital to explain that the vital and irreplaceable role of marketing is to increase the value of the company's...