MBA Open Lecture: Valuing Customers

On Thursday, May 25th, Dr. Prashanth Nyer, Associate Professor of Marketing at Chapman University with rich experience in practice answered the following and similar questions, and discussed daily examples and challenges:

  • How much time, money and effort should a business spend to retain a customer who might otherwise defect to a competitor?
  • How much is an average customer of your business worth to you over his or her lifetime as a customer of your business?

Through calculation of acquisition costs and revenue, each visitor was encouraged to calculate the customer lifetime value. As almost all marketing departments need to decide how to allocate their limited resources, these calculations are essential in ensuring that businesses stay profitable. After examining a typical scenario, we realized that not all customers are worth the same, and that we should identify the most profitable customers and nurture them. Ironically, the most profitable customers are not always the biggest ones.

Since many potential applicants to the Chapman University MBA program in Prague were in attendance at the Open lecture, Dr. Nyer also presented a brief introduction of our MBA program, and he discussed how his MBA course Marketing Management, and other courses in the program, are structured to create a learning oriented environment that is focused on honing practical decision making skills for business leaders.

About the lecturer: Dr. Prashanth Nyer has been a professor of Marketing at Chapman University for 23 years and has been teaching the MBA program at AAU since its inception. Nyer holds a bachelor’s degree in electrical engineering and a master’s and Ph.D. (University of Michigan, Ann Arbor; 1994) in business administration. His research focus is on consumer satisfaction and other aspects of consumer behavior including attitude change, public commitment, and cross-cultural differences in consumer behavior. Nyer’s research has been published in various journals and he has worked in product management in the consumer products and industrial electronics industries.

Privacy policy

Anglo- American University of Prague is committed to protecting your privacy. Any information you voluntarily provide to us through a Praguemba.com website such as email address, name, or phone number will never be sold or traded to other colleges, universities, nonprofit organizations, or businesses. Anglo- American University of Prague might use this information to inform you of changes to that website or to provide you other news and information about that site that we believe would be of interest to you. At your request, Anglo- American University of Prague will remove any contact information you provided from its files.

Information gathered automatically
Unless you take steps to browse the Internet anonymously, or opt-out, Anglo- American University of Prague, similar to most institutions and organizations on the Internet, tracks web browsing patterns to inform understanding of how our sites are being used. The information we collect is based on IP address, which is the location of a computer or network, and is not linked to your specific email address in any of the reports or other material compiled by Anglo-American University of Prague. AAU will not associate your IP address and web usage data with any other information held by AAU that can specifically identify you unless required to do so by law.

Some sections of AAU owned websites use Google Analytics, a web analytics service provided by Google, Inc. Google Analytics uses cookies to help us analyze how users use our sites. The information generated by the cookie about your use of the website includes your IP address. This information will be transmitted to and stored by Google on its servers. Google will use this information for the purpose of evaluating your use of the website, compiling reports on website activity and providing other services relating to Internet usage. Google may also transfer this information to third parties where required to do so by law, or where such third parties process the information on Google's behalf. Google will not associate your IP address with any other data held by Google. By using this website, you consent to the processing of data about you by Google in the manner and for the purposes set out above.

Please visit the following pages for more information on Google Analytics terms of use and Google's privacy practices.

Information you provide to us
To communicate effectively with visitors to our website, we may ask you for personally-identifiable information that can include, by way of illustration, name, email address or phone number. Anglo- American University of Prague will never sell or trade personally-identifiable information you voluntarily provide to us such as name, email address or phone number, to other colleges, universities, nonprofit organizations, or businesses unless one or more of the following conditions apply:

  • We have your consent to share the information.
  • We are sharing such information in response to subpoenas, court orders, or legal processes

External links
Some AAU websites may contain links to external websites not owned by, or officially affiliated with, Anglo- American University of Prague in any way. Anglo-American University of Prague is not responsible for the privacy practices or the content of such websites.

Changes to this policy
When we make changes to this policy, the changes will be highlighted on the top of this page for one month before going into effect. The highlights will then remain on top of the page for three months to keep you informed of the change.

Close