Customer Value Management Assignment Solved
Added on 2020-10-23
15 Pages4454 Words282 Views
CUSTOMER VALUEMANAGEMENT
Table of ContentsINTRODUCTION..........................................................................................................................1P1 Different factors which analyse customer lifetime value......................................................1P2 Main Benefits of customer lifetime value of the organisation...............................................3P3 Influence of customer lifetime value.....................................................................................4M1 Concept of customer lifetime value and its relation with customer data of B2B or B2Corganization.................................................................................................................................5P4 Different types of market segmentation and opportunities for customer value creation.......6P5 Opportunities for customer value creation and its evaluation...............................................7M2 different segmentation models of B2C or B2B and its marketing intelligence....................8P6 Different techniques to analyse customer loyalty..................................................................8M3 Different stages of decision making process and CLV........................................................9D1 key concepts of customer lifetime value management........................................................10
INTRODUCTIONCustomer lifetime value can can be discussed as the relationship with thecustomer which gives the net profit to the company. This relationship is defined in the monetaryterms in which customer is valued where the cash flow from the customer is calculated(Nenonen and Storbacka, 2016). It is an important concept of marketing mix model and showsthe way to capture new customers. Customer value management can be defines as thecomparison of cash flows perceived from the customers in relation to the customers of therivalries. It is an important way of making relation with the mechanism of purchasing powerswhich has direct impact on profit and loss, ROI, and market share of the company. LO1P1 Different factors which analyse customer lifetime valueCustomer can achieve its value by the delivering of the most valuable products andservices. It is one the important marketing tool. The expected value created by customers inretail sector in the organisations make the customers understand its value and make them decideto take actions on the experience and use of products. Currently, retail sector working fromhome have achieved customer's satisfaction by giving them innovative products and services.This satisfaction can be decided as the performance detected which is resulted from the person'semotions and feelings by using the product as compared to the products of the competitivebodies (Abe, 2015). In market based planning, customer's orientation is also very crucial andplays an important in which the leader have the responsibility to sustain the the customers byproviding great level of satisfaction and by implementing good marketing skills. And throughthese innovative ideas it is already decided that customer will definitely perceive good qualityproducts. The calculation cost provided the value of the home based products which are relatedwith their stages of emotions and decisions like corporate brand, functional image, personnel etc.To understand customers, Customer lifetime values are used as metric and most common factorin marketing research. CLV can be calculated through 1.Average revenue per user : In this the average revenue is calculated depending upon percustomer's per month and then multiplied to get two year or one CLV.2.Cohort Analysis : A bunch of customers that share a portion of characteristics.Companies can get clear vision of relationships with customers by examining cohorts.1
3.Individualized CLV : In this companies mainly focus on the calculation of total value ofcustomers by running any campaign, channel or source.Advantages Of CLV:1. Helps in saving funds : This the the most cost effective and cheapest method which is usedin Home base for the retention of customers instead of searching the new customers. Herecustomer's satisfaction are treated on higher level and they understand this as well. That's whythe main focus is fulfilling customer's exceptions (King, Dhameeth and Kim, 2017). This onother saves time and momey of the company which they spend on building new customer baseline The new customers no doubt are difficult to understand and consumes more time of themanagers to know the complete preview of the products and services of the company.2.High level of marketing: It heads towards concrete marketing of the customers of Homebase by calculating the benefits produced by the products sold of their customers.3.Increment in Branding : There is regular contact with customers which leads topopularity in brands of the products.Related to their purchasing power and meeting the expectations the companies have to generatetrust over the expectations of the customers. And for this security system workplace has beendevelop by Home base. Instead of finding new customers which proves good for the company ,Home base tries to retain their old customers by using their own Marketing metrics, which is anold age calculation (Zhang, Liang and Wang, 2016) . Rather than this, organisation can calculateby simply deducting the cost revenue from the amount which is produced by the customers. Andfor actual value the leaders need to identify the real value when it was created. At each and everypoint of marketing , profits should be measured accurately and then summed up all together.2
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
(pdf) Customer Value Management - Assignmentlg...
|11
|3119
|236
Introduction to Customer Value Management : Assignmentlg...
|12
|4041
|438
Customer Value Management Analysislg...
|13
|4740
|55
Customer Value Management Assignment - Homebaselg...
|12
|4205
|92
Customer Value Management Assignment Helplg...
|14
|4156
|89
Customer Value Management: Homebaselg...
|10
|3292
|345