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(Solved) Customer Value Management Analysis

   

Added on  2020-12-29

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Customer Value Management
(Solved) Customer Value Management Analysis_1

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Analyse various components that enable an organisation to demonstrate about customerlifetime value...............................................................................................................................1P2 Benefits to customer lifetime value to an organisation..........................................................2P3 Factors that influence the customer lifetime value................................................................3TASK 2 ...........................................................................................................................................4P4 Determine the types of market segmentation strategies that can be applied to customer base.....................................................................................................................................................4P5 Evaluate B2B and B2C decision making models with opportunities for customer valuecreation........................................................................................................................................6TASK 3............................................................................................................................................7P6 Different techniques and models organisation can apply to increase customer relationshipand customer loyalty...................................................................................................................7CONCLUSION................................................................................................................................8REFERENCES ...............................................................................................................................9
(Solved) Customer Value Management Analysis_2

INTRODUCTIONCustomers are the ultimate one whom used to support and enhance an organisationgoodwill. Thus, a firm need to value their users aspects properly so that better and signifiedoutcome could be drawn (Hammer, 2015). Customer value management is a process where abusiness should focus on working so that they become able to manage values and attribute oftheir signified users. This project is based on Homebase whom engage in working over onimproving home retailer and garden centre. In this project certain number of things will getincluded which define about customer lifetime value with its calculation with factors whichinfluence it. Along with this, it will also going to define about various segments in customerbase. Further it will also signify about techniques and methods to enhance customer lifetimevalue. TASK 1P1 Analyse various components that enable an organisation to demonstrate about customerlifetime valueCustomer lifetime value is define as prediction of net profit attributed to entire futurerelationship with users (Hollensen, 2015). A business need to assess and understand aboutvarious components of CLM so that better and effective working could be done. There is a needto understand about customer lifetime value properly so that better and effective working andprofitability could be maintain and manage. Homebase is one of a major home enhancing retailerand garden centre with appropriate components which enable an organisation to demonstrateabout CLV:Present value: One of a major thing which need to understand by Homebase is presentvalue of their customers. Here, they need to understand the attribute of their clients sothat better and effective working could be done which facilitate beneficial outcome innature. Mathematical formula: Homebase experts define customer lifetime value as a monetaryprice which got estimated by consulting a mathematical formula. This get estimated by acompany by dividing total revenue with number of customer joined an organisation. Thisenable in defining and analysing things better and in appropriate frame as well. Customer’s loyalty: Customer lifetime value could be maintain and manage throughcustomer loyalty which could be estimated through providing appropriate discount and1
(Solved) Customer Value Management Analysis_3

vouchers. Homebase could gain better customer loyalty with repeat visit so that betterlifetime value could be created. Individualized CLV: Business have to determine certain number of things in better andsignified manner (Kerzner and Kerzner, 2017). For a company it is really essential toorganise and determine lifetime value on individual frame not on broad basis. Thisindividualise customer lifetime value enable and support Homebase to analyse each andevery person more properly so that they could maintain CLV in a better and signifiedframe of reference. Cohort analysis: Cohort indicates a group of individuals who share same characteristics.This indicates various situations that affect CLV to create and maintain healthy relationswith customers. Homebase need to identify all such individuals and customers whichhave similar cohort so that they could maintain and manage their better and signifiedworking which further enable in accomplishing targets. Such components enable Homebase to evaluate customer lifetime value which support inmanaging things better and in proper frame so that effective and efficient outcome for a businesscould be drawn. P2 Benefits to customer lifetime value to an organisationCustomer lifetime value enable and support a business to grow and expand themselves.This enable them in attempting more profit so that better and supportive outcome could be drawn(Kim and et. al., 2015). Thus, for a business it is really essential to understand about customerlifetime value to Homebase so that better and effective outcome could be drawn. Below arecertain merit for CLV for Homebase which need to understand by managers so that effectivenessand efficiency could be maintain:Support in managing goodwill: Customer lifetime value enable and support in managinggoodwill of a company. A business could gain benefit and sustain in an environment byproviding better products at keen competitive world. Although, lifetime value alsofacilitate a good relationship with users so that chances of deriving effective and suitableoutcome could become possible. Homebase could gain and enhance their goodwill onlywhen they provide and deliver right quality products. Thus, for managing goodwill for acompany it is really essential to craft a better and signified thing in a define manner. 2
(Solved) Customer Value Management Analysis_4

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