The authors present an overview of a new approach to marketing—one that seeks to maximize customer equity by managing the customer asset. Using a resource-based view, the article provides a framework for approaching marketing through the lens of the customer asset. The authors propose that the ability to acquire, manage, and model customer information is a key asset of the firm that can be a source of sustained advantage. Challenges to the implementation of this approach and the changes that the approach necessitates in marketing strategy are discussed. The authors propose several areas for future research in the area of customer equity and management of the customer asset.
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