Customer Lifetime Value.
Added on - 25 Sep 2019
Customer Lifetime ValueThe concept of [customer lifetime value] is nothing more than theconcept of present value applied to the cash flows of the customerrelationship.—Rajkumar Venkatesan et al. (2015, p. 134)Customer lifetime value (CLV) is an indispensable tool for marketers toemploy in making effective marketing decisions. In conjunction withmetrics and analytics, CLV provides an essential numerical dimensionthat can be analyzed and utilized for overall marketing strategy design.To prepare for this Assignment, review the Netflix data set and Chapter11 in Venkatesan et al. (2015) provided in this week’s Readings, andconsider the role of analytics and CLV in creating an effectivemarketing strategy. Be sure to consider the role of changingtechnology and industry trends within Netflix’s fluctuating strategies.SubmitbyDay 7a 1-to-2 page analysis on the impact of CLV on themarketing strategy for Netflix. Your analysis should include thefollowing:Identify the calculated margin, retention rate, discount rate,and CLV based on Netflix data set.Describe the result of the calculations.General Guidance on Assignment Length:This Assignment shouldbe 1-2 pages, double-spaced, excluding a title page and references.Reading:Venkatesan, R., Farris, P., & Wilcox, R. T. (2015).Cutting-edgemarketing analytics: Real world cases and data sets for handson learning. Upper Saddle River, NJ: Pearson Education, Inc.Chapter 11, “Netflix: The Customer Strikes Back” (pp.144–152)http://dmanalytics.org/bookdatasets/