Forward-looking focus: Can firms have adaptive foresight?

Valarie A. Zeithaml, Ruth Bolton, John Deighton, Timothy L. Keiningham, Katherine N. Lemon, J. Andrew Petersen

Research output: Contribution to journalArticle

90 Citations (Scopus)

Abstract

Customer metrics are pivotal to assessing and monitoring how firms perform with customers and other publics. The authors contend that customer metrics used by firms today are predominantly rear-view mirrors reporting the past or dashboards reporting the present. They argue that companies need to and can develop "adaptive foresight" to be positioned to predict the future by exploiting changes in the business environment and anticipating customer behavior. They address the need for adaptive foresight by synthesizing and integrating literature on customer metrics, customer relationship management, customer asset management, and customer portfolio management. They begin by reviewing the metrics that have been and are currently being used to capture customer focus. Next, they discuss possible "headlight" or forward-looking customer metrics that would allow firms to anticipate changes and provide opportunities to increase the value of the customer base. They then identify the conditions under which the new metrics would be appropriate and offer a process for developing adaptive foresight. The authors close by discussing the implications of adaptive foresight for successful customer asset management that increases long-run business performance.

Original languageEnglish (US)
Pages (from-to)168-183
Number of pages16
JournalJournal of Service Research
Volume9
Issue number2
DOIs
StatePublished - Nov 2006

Fingerprint

Asset management
customer
firm
Headlights
Industry
Monitoring
Foresight
assets
management
portfolio management
monitoring
present

Keywords

  • Adaptive Foresight
  • Customer
  • Customer Equity
  • Customer Focus
  • Leading Indicators

ASJC Scopus subject areas

  • Organizational Behavior and Human Resource Management

Cite this

Zeithaml, V. A., Bolton, R., Deighton, J., Keiningham, T. L., Lemon, K. N., & Petersen, J. A. (2006). Forward-looking focus: Can firms have adaptive foresight? Journal of Service Research, 9(2), 168-183. https://doi.org/10.1177/1094670506293731

Forward-looking focus : Can firms have adaptive foresight? / Zeithaml, Valarie A.; Bolton, Ruth; Deighton, John; Keiningham, Timothy L.; Lemon, Katherine N.; Petersen, J. Andrew.

In: Journal of Service Research, Vol. 9, No. 2, 11.2006, p. 168-183.

Research output: Contribution to journalArticle

Zeithaml, VA, Bolton, R, Deighton, J, Keiningham, TL, Lemon, KN & Petersen, JA 2006, 'Forward-looking focus: Can firms have adaptive foresight?', Journal of Service Research, vol. 9, no. 2, pp. 168-183. https://doi.org/10.1177/1094670506293731
Zeithaml, Valarie A. ; Bolton, Ruth ; Deighton, John ; Keiningham, Timothy L. ; Lemon, Katherine N. ; Petersen, J. Andrew. / Forward-looking focus : Can firms have adaptive foresight?. In: Journal of Service Research. 2006 ; Vol. 9, No. 2. pp. 168-183.
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