Marketing (General)

Topic 1: Customer satisfaction, loyalty & empowerment

Visit and choose ONE of these corporate websites to assess:

Note: You will have to go beyond the main landing page to obtain the data you need for your response.

Respond to the following questions for the company website you have chosen:

  • What does this company do to build customer loyalty? To build community?
  • Are customers are empowered to do anything here? Are there opportunities for customer feedback?  Anything else?
  • Does the company partner with other organizations to leverage the loyalty those other companies enjoy with their customers? If so, what organizations?  What partnering activities is the company doing with those organizations?
  • Are you a loyal customer of this company or might be consider becoming one? Why or why not?

TOPIC 4: CUSTOMER LIFETIME VALUE – Personal Application

The goal of any formal customer relationship management program is to attract and retain profitable customers with high customer lifetime value.

Identify a company for which you might be considered a most valuable customer, where you are in Level 1 of their customers (See Figure 2.5, Levels of Customers Based on Profitability).

  • Visit https://neilpatel.com/blog/how-to-calculate-lifetime-value/. This site will give you an example of lifetime value using Starbucks as an example. Note all the variables that go into lifetime value calculations.
  • Record your lifetime value calculation and discuss how the company tries to retain and grow your business as a most valuable customer.

How to calculate lifetime value [Infographic]. (n.d.). https://neilpatel.com/blog/how-to-calculate-lifetime-value/

 

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