The leaky bucket theory is an analogy used in customer lifetime value to highlight the need to balance new customer acquisition and customer retention. Students review what is the best approach and what impact it has on a firm.
Leaky Bucket Theory Review the Teaching Activity
An in-class activity for students to understand which products are more suited to the 4Ps (goods) or the 7Ps (services) marketing mix.
EXCLUSIVE MEMBER ACTIVITY
Do We Use the 4Ps or the 7Ps? Review the Teaching Activity
In this work conversation, each staff member has strengths in one particular area. The student task is to identify where the staff member is experienced, and then determine whether their skills are likely to enhance customer satisfaction.
EXCLUSIVE MEMBER ACTIVITY
Potential Benefits of Internal Marketing Review the Teaching Activity
Students review the viral video launch of the highly successful Dollar Shave Club and then identify their 7P’s offering and the mindset of their target market. Great activity for breaking down the full 7P’s marketing mix.
EXCLUSIVE ACTIVITY FOR MEMBERS
Marketing Mix of the Dollar Shave Club Review the Teaching Activity
In this case study, students look at a successful implementation of a CRM program and how it was able to transform the success of a credit union.
EXCLUSIVE MEMBER ACTIVITY
Implementing a CRM Program Review the Teaching Activity
In this task, students download and use the free customer journey map (CJM) Excel template to develop CJM’s for different personas.
Creating Customer Journey Maps (Student Tool and Tasks) Review the Teaching Activity
The purpose of this exercise is for students to consider the financial consequences of various strategic decisions. Their goal is to increase overall profitability of this music festival event, while ensuring the foundation of a logical marketing strategy.
EXCLUSIVE MEMBER ACTIVITY
Financially-driven Marketing Strategy Review the Teaching Activity
RBW was a small hamburger chain established in the UK in the early 2000’s. Despite a significant financial investment, professional management, the use of branding consultants, and extensive media coverage, the business did not prove to be viable and closed within a few years.
Real Burger World (RBW) Case Study Review the Teaching Activity
In this exercise, students work through a customer lifetime value calculation and explain the individual components, ideal for advanced marketing students.
Customer Lifetime Value Calculation (a step-by-step guide) Review the Teaching Activity
A task for marketing students where they need to interpret the output of a customer lifetime value (CLV) calculation.
EXCLUSIVE MEMBER ACTIVITY
Interpreting Customer Lifetime Value Review the Teaching Activity