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Customer Lifetime Value.

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Added on  2019-09-26

Customer Lifetime Value.

   Added on 2019-09-26

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Customer Lifetime ValueThe concept of [customer lifetime value] is nothing more than the concept of present value applied to the cash flows of the customer relationship.—Rajkumar Venkatesan et al. (2015, p. 134)Customer lifetime value (CLV) is an indispensable tool for marketers to employ in making effective marketing decisions. In conjunction with metrics and analytics, CLV provides an essential numerical dimension that 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, and consider the role of analytics and CLV in creating an effective marketing strategy. Be sure to consider the role of changing technology and industry trends within Netflix’s fluctuating strategies.Submit by Day 7 a 1-to-2 page analysis on the impact of CLV on the marketing strategy for Netflix. Your analysis should include the following: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 should be 1-2 pages, double-spaced, excluding a title page and references.Reading: Venkatesan, R., Farris, P., & Wilcox, R. T. (2015). Cutting-edge marketing analytics: Real world cases and data sets for hands on learning. Upper Saddle River, NJ: Pearson Education, Inc.Chapter 11, “Netflix: The Customer Strikes Back” (pp. 144–152)http://dmanalytics.org/bookdatasets/
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