Professor of Marketing at the FEB, Peter Verhoef has won a prestigious award for scientific articles that have proven long-term impact, the Sheth Foundation/Journal of Marketing Award 2012. Verhoef's winning article on Customer Relationship Management was published in the JM in 2003. Verhoef will receive the award in August 2013 on the American Marketing Association's Summer Marketing Educators Conference in Boston. He is the first Dutchman to win this award.
► Understanding the Effect of Customer Relationship Management Efforts on Customer Retention and Customer Share Development (Vol.4. , pp. 30-45)
The Sheth Award is given to honor articles that have made long-term contributions to the discipline of marketing. The award recognizes scholarship based on the benefits of time and hindsight and acknowledges contributions and outcomes made to marketing theory and practice. Verhoef's paper has previously won the Donald R. Lehmann award and was the final piece in his dissertation.
"Well-designed and well-executed"
According to the jury of the Sheth Award, Verhoef's article constitutes a basis for many papers that have been published after 2003 in the area of CRM. Marketing managers and academics have sought a better understanding of the factors influencing "share of customer" or "share of wallet" over time. However, this research problem has been very difficult to investigate for theoretical and technical reasons. The factors influencing share of customer are different from the factors influencing customer retention but this problem had been given insufficient theoretical attention.
Verhoef's article tackled a topic that is difficult from both a conceptual and empirical perspective, and is an exemplar of well-designed and well-executed empirical research. To quote a nominator, "the paper is highly relevant and frequently used by practitioners, and has been written in a style which stimulates practitioners to implement ideas and outcomes." The committee praised the significant impact of the article on both scholarly research and marketing practice.
For this year's Sheth Award, the Award committee considered all articles published in JM between 2003 and 2007. The committee also weighs information obtained from nomination letters and citation analyses. The criteria for selection include the quality of the article’s contribution to theory and practice, the article’s originality, its technical competence, and its impact on the field of marketing. Articles eligible for the award must have been published at least five years but not more than ten years earlier.
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