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Wharton Executive Education (n.d.). Customer Lifetime Value: What It Is and Why It Matters.
https://executiveeducation.wharton.upenn.edu/thought-leadership/wharton-online-insights/why-customer-lifetime-value-matters/

has been cited by the following article:

• TITLE: Evaluating the Impact of Marriott Bonvoy Loyalty Program on Competitive Advantage in the Hospitality Industry

  AUTHORS: Maximo Burgio, Maria Victoria Anauati

  KEYWORDS: Marriott International, Marriott Bonvoy, Competitive Advantage, VRIO Framework, Porter’s Five Forces, Loyalty Programs, Hospitality Industry

  JOURNAL NAME: Open Journal of Business and Management, Vol.14 No.2, March 26, 2026

  ABSTRACT: This study evaluates whether the Marriott Bonvoy loyalty program provides Marriott International with a competitive advantage. Using the VRIO framework and Porter’s Five Forces, the analysis finds that Bonvoy is a valuable and rare resource that strengthens customer loyalty and increases direct bookings, giving Marriott a temporary competitive advantage. However, high competitive rivalry and the growing threat of substitutes limit its long-term sustainability. While strong brand recognition and high entry barriers offer some protection, continuous innovation is required for Bonvoy to remain a source of advantage.