Customer Lifetime Value (CLV) and Customer Equity (CE) are core concepts in relationship marketing. Several models have been proposed by researchers to measure CLV and CE. Not only new models are required to accurately estimate CLV, but also decision-making models must be employed to assist managers in making right marketing decisions. In this paper, a situation is considered in which different customer segments and various marketing channels are available. A new approach is adopted to more accurately evaluate CE and a mathematical model is developed to maximize CE of the company. We adopt robust optimization approach to cope with the uncertainty, which is inherent in all uncertain decision making environments. We then solve our model and analyze it based on numerical results.

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