ABSTRACT
Abstract ................................................................................................. 143 8.1 An Introduction to Customer Lifetime Value ............................... 144 8.2 Wine Marketing and the Industry ................................................ 145 8.3 Wine CLV Techniques and Practice ............................................. 146 8.4 Conclusion ................................................................................... 153 Keywords .............................................................................................. 154 References ............................................................................................. 154
ABSTRACT
This chapter analyzes the short-and long-term effects of a wine firm’s customer relationship on the Customer Lifetime Value (CLV). It is
shown that the longer is the duration of a wine firm’s relationship with its customers, the higher is the CLV. Furthermore, the wine firm gains most of the feasible CLV in about just 10-to 25-year-long customer relationship. However, achieving long-term customer relationship may require significant marketing investment to create brand loyalty. A positive wine-tasting room experience may support this goal by creating long-term customer relationship as well-as supporting short-term wine tourism.
