In this activity, student need to work through a customer lifetime value exercise (CLV) and calculate the CLV for both the firm’s business and individual customers.
Working with Customer Lifetime Value Review the Teaching Activity
In this exercise, the student’s task is to calculate the customer lifetime value (CLV) for two retailers and will also consider the impact of the number of years (that is, the customer’s lifetime) in the calculation.
Calculating Customer Lifetime Value (Impact of Future Years) Review the Teaching Activity
Customer retention can also be enhanced through the creation of switching barriers, with the task being to review examples to assess the likely satisfaction level of the customer involved.
Switching Barriers (Customer Retention) Review the Teaching Activity
In this exercise, students will evaluate the potential benefits and limitations of customer relationship management (CRM).
Perceptions of CRM Review the Teaching Activity
Assuming that students are the owner of a restaurant, they need to identify the three main benefits that the firm would receive from implementing a CRM program.
CRM’s Mutual Benefits Review the Teaching Activity
In this exercise, students consider whether a customer is likely to increase their relationship with a firm over time, by evaluating likelihood of them progressing through a relationship life-cycle path.
Will Profit per Customer Increase Each Year? Review the Teaching Activity
The task is to outline a marketing mix for a holiday that would best suit different market segments.
Meeting Target Market Needs Review the Teaching Activity
The student task in this activity is to review the examples of retailing servicescape in order to identify what the firm is trying to achieve by their particular in-store design.
Understanding In-store Influences (Servicescape) Review the Teaching Activity
In this exercise, students are presented with the campaign results from a bank that has tested different promotional tactics. Their task is to interpret the campaign’s results.
Analyzing Campaign Results Review the Teaching Activity
In this exercise, students are required to help a traditional hamburger store adapt to the new market environment of more health-conscious consumers. To help guide them, market research data has been presented.
A New Environment; Time for a New Strategy? Review the Teaching Activity