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Customer Value Management Assignment - HOME BASE company

   

Added on  2020-11-12

12 Pages3630 Words229 Views
CUSTOMER VALUEMANAGEMENT
Customer Value Management Assignment - HOME BASE company_1
Table of ContentsINTRODUCTION...........................................................................................................................1a) Different components of enable an organisation to determine and calculate customer'slifetime value .............................................................................................................................1 b) Explain and justify the benefits of customer lifetime value .................................................2 c) Evaluate the factors of customer lifetime value ...................................................................2d) Concept of customer lifetime value and the use of collating customer data within specificorganisational B2C or B2B context............................................................................................3 1) Types of market segmentation strategies ..............................................................................4 2) B2C and B2B decision making models and opportunities for customer value creation.....53) Segmentation model of B2C and B2B and marketing intelligence for customer valuecreation .......................................................................................................................................5TASK 3............................................................................................................................................61) Different techniques and method apply to increase customer relationship and customerloyalty..........................................................................................................................................6 2)Evaluate the techniques and methods applied at different stages of the consumer decisionmaking process and CLV............................................................................................................7 3)Provide evidence of critical evaluation and synthesis of key concepts of customer lifetimevalue management in an organisation contest ............................................................................7Conclusion ......................................................................................................................................8....................................................................................................................................................8
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·INTRODUCTIONCustomer value management (CVM)is very important aspects for organisation wheremarketing promotions, products and channels are transitory, company increase their value ofcustomer relationship because now days customers play a very vital role in generating profit ofany industry (Verhoef and Lemon, 2015). The objective of CVM identifying the profitableconsumer and reducing customers acquiring cost. It also includes this report HOME BASEcompany manager using different types of components and providing the justification ofcustomer value lifetime. This file also giving the all the information different types of marketsegments and BC2 or BCB decision making and value of consumers. This company haveadopted innovative client relationship management strategies to handle customer.TASK 1l壱a) Different components of enable an organisation to determine and calculate customer'slifetime value The most important components are customer relationships management, supports,services, order marketing, strategy. It refers with customer value means every consumer aredifferent needs and wants no two or more client will place the same value on the product orservices. Home base company manager provide the customer service in effective manner, thisindustry manager identifying the actual the need of people and giving a quality of product(Nagaoka and et.al, 2016). The highest value of this firm product and services does not alwaysprovide the highest customer value, since the benefits of each items calculate against cost.Consumer increase their lifetime value through acquisition cost, repeat transaction and clientretention rate, customer lifetime value is the most essential part of marketing. Home base manager focus on the channels that provide the best and profitable customer.This company managing director main motive earn profit through trying maximise customerlifetime value in their relation cost of acquisition. This firms directors also focus on retentionof marketing strategy means make a long term plan for growth of their industry as well as build-up relationship between customers and their employees as well (Hassan and et.al, 2015). Theycreate more effective messaging, targeting, improve their behaviour with clients and alsoimprove output from consumer support. This organisation giving a special attention those1
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valuable customer who help in generating their 80% revenue of their industry. Using customerlife value help to find out the top most valuable consumer will help their deciding what theyservice provide and customer will also help to push their margin and making strong relationshipthrough better service.l壱 b) Explain and justify the benefits of customer lifetime value Customer lifetime value are very helpful for develop the optimal strategies for the clientengagement, create better understanding of potential value of a consumer and change theworkforce to improve the relationship with customer. Home base company manager is based onthe calculation of lifetime value and focus on organisation increasing their revenue .·Better forecasting: Home based making a better plan for availability of their service bypredicting coming demand by their consumer (Keyte, B. and Locher, 2016). It helps tomanaging proper investment in asset, manpower and inventory based on future need. Thisorganisation manager also helps in cutting down their productivity loss by leading sufficientallocation of resources. It also include multiple products , prediction of purchasing chances foreach product can able efficient uses of resources translating into high profit.·Retention and saving time: Home based company manager work on customer lifetime valuecan go a long term and making a new program regarding reduction in attritions. Thisorganisation also focus on save time it refer with customer service means this industry manageralso focus on save their organisation time through giving a quality of service it is very importantfor development of customer relationship and their trust on product services (Hassan and et.al,2015).·Customer lifetime value help to growing their business and making a effective plan for future like how to save money through effective cost of their product and service. Home base company manager also focus on making strategies their firm and running their work ling term and it also concentrates on their customer. This organisation try to full fill clients need and growth of their industry (Hassan and et.al, 2015). · c) Evaluate the factors of customer lifetime value There are several factors of customer lifetime value that effect future buyingperformance. It includes method of recruitments, Home Base company using incentives ordiscounts for raised their market share and attracted a various types of clients. This organisation2
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