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Customer Value Management Report of Marks and Spencer

   

Added on  2020-07-23

9 Pages2787 Words92 Views
Customer ValueManagement
Customer Value Management Report of Marks and Spencer_1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3P1 Ascertaining the components which determines the consumer's lifetime value....................3P2 Analysing the fruitfulness of Consumer's life value to organisation.....................................3P3 Identifying elements which influence the consumer's lifetime value....................................4P4 Application of market segmentation policy which will be helpful in enhancing theconsumer gathering.....................................................................................................................4P5 Identify the B2C and B2B decision making models which will help in providing theopportunities for customer value creation...................................................................................7P6 Application of various techniques and methods which will enhance the consumerrelationship..................................................................................................................................8CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9
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INTRODUCTIONThe consumer's lifetime value is the technique which is being used by the organisation asto ascertain the future net profits and gains which will be gained by the business. In the presentstudy the discussion is based over the elements, factors and components which affect theconsumer lifetime value. The study will help Marks and Spencer in promoting the favourableconsumer relationship as well as loyalty. Moreover, the managerial professionals will besuggested various techniques and methods on which they will maintain the buyer's relationshipand retain them to have the long terms probabilityP1 Ascertaining the components which determines the consumer's lifetime valueIn relation with measuring the consumer's lifetime value there are two techniques whichwill be helpful in determining it.Historical CLV:There has been influence of various methodologies in terms with analysing CLV value.Thus, some of them present that it will be derived from the direct purchases made by theconsumers. However, the analysis will be based on making the estimation over the pasttransactions made by costumers in relation with purchasing the products in the organisation.There will be several issues indulged with this technique as all the consumers has different levelof earning and spending as well as there has been variations in their preferences which will haveimpacts over the revenue gathering of business (King, Dhameeth and Kim, 2017). Marks andSpencer will implicate this technique which will be profitable in analysing the purchaserbehaviours and estimation of the costs.Predictive Customer Lifetime Value:The method stated that there will be proper analysis over the CLV value as per theconsumer's purchasing behaviour (Castéran, Meyer-Waarden and Reinartz, 2017). Moreover,this technique implies that the expected revenue will be gathered by the firm in relation withmeeting the consumer expectations. Thus, it can be understand as follows:P2 Analysing the fruitfulness of Consumer's life value to organisationTo determines the CLV value will be helpful to the entity in relation with making theeffective business operations. Thus, it helps in determining the buying behaviour of consumers
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