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Customer Value Management Homebase

   

Added on  2020-10-05

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Customer ValueManagement
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Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Various elements to ascertain customer's lifetime value.......................................................1P2 Advantages of customer lifetime value to an organisation....................................................3P3 Factors impact the customer lifetime value...........................................................................4TASK 2............................................................................................................................................5P4 Types of market segmentation which can be applied to customer base................................5P5 B2B and B2C decision making models.................................................................................7TASK 3............................................................................................................................................9P6 Different methods and techniques to increase customer loyalty and relationship.................9CONCLUSION..............................................................................................................................10REFERENCES .............................................................................................................................11
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INTRODUCTIONCustomer value management is that techniques and method which has been evaluatingand measuring the organisation customers views of perceived value for delivering effectivemoney towards their competitors buyers. It is termed as that art which help in increasingcustomer value in individual manner. This will mainly designed and prepared for companywhich highlighting the major business operations and functions which directly affect oncompany profitability and productivity in effective manner. This is the main feature andcharacteristics of particular concept which assist company for analysing and examining thecustomer value, concentrate on insufficient resources for making competitive benefits. Alongwith this, it is necessary for company is to determine the customer lifetime value which isrequired for an organisation so this will help administration for taking right and appropriatedecision in proper manner (Hammer, 2015). The report is based on Homebase which is discussedin this project. The major element is to measure and evaluate customers lifetime value and alsogain advantages which are described in this assignment. TASK 1P1 Various elements to ascertain customer's lifetime valueIn the current business environment, customer relationship will play an essential role inenhancing the company income and revenue. Along with this, company will generating highamount of profitability at the time when buyers purchase large amount of items. The loyalcustomers are the major source which has value for the firm but this is scarce in quality. Then themaximum efforts can be done by the company for enhancing the customers value and formulateeffective strategies and policies along with desired goals and targets of the firm. Homebase is thebroadcasting company which serve and offer SMS facilities and services for getting potentialgoals and objectives in appropriate manner. Also firm will performing different efforts bydelivering effective and good services to their buyers and try to satisfying their all needs andwants in better way (Hollensen, 2015). This concept help in generating high amount ofprofitability. The approaches and concept of customer lifetime value is used by company toforecasting effective values and also maintain the strong relationship with their desiredcustomers. Along with this, CLV should be described in terms of periodical value that candeclared for predicting the 12 months relationship which determined the value will be £ x. with1
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the help of this, company can retain their customers for long time period and as per this result, itwill assist in analysing the income and productivity of firm. The main motive of the firm is tomaintaining and managing strong relationship with their buyers that will assist in creating hugeamount of profitability and revenue. There are various elements which can used by Homebasefor measuring customer lifetime value that are as under:Present value – It is that elements which addressing the customers point of view towardscompany goods and services (Kerzner and Kerzner, 2017). Along with this, it willindicates the discounted value which present cash flows that are acquired by firmconsumers in proper manner. Therefore, this will captured the time value money whichassist in retain the large number of buyers for lengthy period of framework. Along withthis, the periodical value should be included in this. Customer's loyalty – In addition to this, CLV mainly depend on customers loyalty. Withthe assistance of this, organisation can retain their buyers for long period of time. Loyaltyof customers assist firm for surviving in the large market place of specific time.Therefore, this will increasing the CLV concepts. The customers loyalty providescompetitive advantages to company and lack of reduction in the company income andprofitability. Mathematical formula – In this, specialist determine the customer relationship value(CRV) in terms of monetary price that will be considered with the assistance ofmathematical techniques and methods in appropriate manner. The formula is included inthis that is total financial gain of company separated by large number of time periodwhen customers connected the organisation. It can indicated that average income of thecompany generated by buyers (Kim and et. al., 2015). Thus, company will performdifferent efforts for motivating their customers towards purchasing their innovative andcreative products of the Homebase. Apart from this, this is one of the helpful andeffectual elements which assist firm for analysing the customers relationship value thathelp them in retaining their employees as well as purchasers for lengthy instance frame. Personalised CLV – The company measuring CLV on the basis of broad so this does notget much, at the time when company determine value on the basis of person and this canbe point out as demonstration towards customer measure. 2
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