Customers are regarded as the key intangible assets of a company. It is necessary to have the capability to anticipate customer value. The study discusses the relationship among customer value anticipation, product innovativeness, and customer lifetime value from customer perspective. 178 MBA students were surveyed by questionnaire in this study. The results show that customer perceived customer value anticipation can significantly influence product innovativeness. Product innovativeness not only positively affects customer lifetime value, but also plays a partial mediating role between customer value anticipation and customer lifetime value. Both functional and emotional advertising can play a moderating role on the relationship between product innovativeness and customer lifetime value. At the end, managerial implications are discussed.