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Customer Value MANAGEMENT INTRODUCTION 3 P1 Different Components of Customer's Lifetime Value

   

Added on  2021-01-02

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CUSTOMER VALUEMANAGEMENT
Customer Value MANAGEMENT INTRODUCTION 3 P1 Different Components of Customer's Lifetime Value_1

Table of ContentsINTRODUCTION ..........................................................................................................................3TASK 1............................................................................................................................................3P1 Different components of customer's lifetime value...............................................................3P2 Benefits of the customer lifetime value.................................................................................4P3 Factors impact the customer lifetime value...........................................................................6TASK 2............................................................................................................................................7P4 Various types of market segmentation which can be applied................................................7P5 B2C and B2B different decision making models..................................................................9TASK 3..........................................................................................................................................10P6 Different method and techniques which need to increase the loyalty and relationship.......10CONCLUSION .............................................................................................................................11REFERENCES .............................................................................................................................12
Customer Value MANAGEMENT INTRODUCTION 3 P1 Different Components of Customer's Lifetime Value_2

INTRODUCTION Customer value management is considered as measure of the company's view which isperceived as value of money for having an delivery of effective money which is towards thebuyers. Even though it is also known as customer value added approach. It can also be said that itis a art of increasing a value of customer in individual manner (Hammer, 2015). This issomething which mainly design and also prepare the company which do highlight the majorbusiness operation and functions too that has an direct affect with company profitability andproductivity as well in better manner. Main feature with the particular concept is there which doaid firm for determining and having an examining of the vale of customer and lead to concentrateon not having an proper amount of resources for making an competitive advantages. The reportis that which is based on Homebase and discussed in this project as well. Moreover, main thingis to measure the different thing and also lead to evaluate the lifetime value of customer and alsohas increase advantages which will be discussed. TASK 1P1 Different components of customer's lifetime value.In market there is a huge competition, even though customer relationship with companydoes play an effective role which do help in having a income and revenues in better manner.Basically, there are large number of people who are loyal to a single Brand and they are majorsource of earning for company but it also have an impact as scarce in quality as well. Therefore,the company do bring many policies and strategies which do help firm to produce better decisionso that they can gain the competitive advantage and can also attain the goals and objectives inproper way (Nyadzayo and Khajehzadeh, 2016). Hence, the firm Homebase is company whichalso serve the SMS facilities to customer and satisfy them with services and try to gain themaximum market share in great way. It is something that lead to earn higher profitability as well,approaches and concept is such which do help in having an customer lifetime value that is usedby the firm for having an effective values and it also lead to maintain some a better relation withthere desired relation in right context too. It also includes the CLV scenario that describe theperiodical values which do declare some of predicting 12 months relationship with thedetermined value that will be £ x. moreover, this is such which do help in retaining consumersfor longer period. Normally, this is such which do help in attaining the good amount of
Customer Value MANAGEMENT INTRODUCTION 3 P1 Different Components of Customer's Lifetime Value_3

profitability and revenue in right context. Hence, some of the components which is used formeasuring value as: Present value:- This is such which leads and relates to customer point of view with thefirms goods and services. It also shows the value of discount and represent the cash flows whichis acquired by consumers in effective way. Therefore, it acquire the money time value that aid tohave an retain of customers for longer period. It needs to include the periodical value too. Customer loyalty: Basically, CLV is such which is dependent on consumer loyalty.Even though such criteria help in handling and to retain for long period of time. Having anloyalty by customer which assist the entity to earn survive in market (Pearson, 2016). Thisaspect is that which help them in having an competitive advantages of entity and also lead tohave a reduction of company income and profitability as well. Cohort analysis: It is that which sign toward large group of people who do share somekind of similar features in effective manner. It can also aid to look for different situation who hasdirect impact on CLV and also lead to maintain and develop the various strong relationship withdesired buyers as well. Mathematical way: It is which also determine the customer relationship value (CRV)and it is in terms of the monetary prices and will be considered with having an assistance ofmathematical tools as well. Moreover, formula is that which include the financial gain of thefirm and having an separation of such with large number of time period too and it affects whenthe large consumers are connected with the organization too. Generally, the Homebase is thatentity who motivate and influence the customers to buy there innovation and creative productsand services in great way. Even though, it also has an helpful which do have an effectualcomponent that help entity to analyse the relationship value which make firm to retain therecustomer and attract future prospect as well for the longer period of frame too. Personalised CLV:- Measuring the CLV on basis of broad sense and with this they donot get much to, at that time firm do lead to determine value on the basis of individual and it canalso lead to have an point of demonstration towards the customer measures too.P2 Benefits of the customer lifetime value.CLV is such which do provide the number of various advantages and having firm or notneeds to have an gaining of some attention and having an more customer towards the servicesand facilities too (Khodakarami and Chan, 2014). Moreover, having an helping of this even firm
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