Define Customer lifetime value

Writing Assignment 4 (30 points)

MKTG 601

· The primary learning objective in module 5 is to identify options for gathering and using data to improve marketing management decisions.

Purpose of the assignment:

This assignment is designed to improve your ability to examine how marketing metrics are used in your career or in one you want to have. It also provides an opportunity for you to identify examples in your own life that reflect generalizations about marketing’s impact on organizational success.

Many studies in education indicate that reflection is an effective part of effective learning. The purpose of this assignment is to give you a guided approach for reflecting on the assigned article readings and for Module 5.
Assignment Due Date: Sunday, Feb.16, 11:00 PM Central Time.

What to do: Answer each of these questions (2 questions, each with multiple parts)

1. Using either the company you currently work with or one that you can research online, give examples of how the following metrics are tracked/calculated (see Note 3, below, if you cannot find examples for these metrics).

a. Customer satisfaction

b. Service quality (if the company’s offerings do not have an important service component, this metric may not be tracked. If it is not tracked please refer to NOTE 3, below)

c. Customer loyalty (or net promoter or other similar metric)

d. Customer behavior (may be customer acquisition, customer retention, page visits, or other meaningful metric related to customer behavior)

e. Customer lifetime value

f. Firm Performance (profitability, value, or other meaningful metric).

NOTE 1: The response to this question may take more time and research than responses to questions in other assignments in this class.

NOTE 2: You do not have to provide proprietary or private data if using your company – you can just report general information regarding how the data is tracked/calculated.

NOTE 3: If you are using your own company and any type of information (for a-f, above) is not tracked, simply indicate so. After indicating so, either (a) provide some realistic options for how your company could do so, or (b) provide a clear explanation for why the respective metrics do not need to be tracked.

if you are using a company you do not work for and you cannot identify information on 2 or more metrics (for a-f, above), then choose a different company.

NOTE 4: If you do not work with or around customer data in your career, it may be difficult to find this information in either your own organization or by searching for it online from other organizations. However, students in previous MKTG 601 classes have successfully completed this work. If you are searching for information online, you may need to search for through press releases, news articles, and annual reports as ways to learn how this information is tracked.

***Please note, the 2nd question in this assignment is on the next page***

2. Provide an example of each of the following [for full credit, you must answer (a) and (b)]:

a. Pick one of the generalizations noted in the “Customer Metrics and Their Impact on Firm Performance” article and describe an example of the generalization found in a real scenario. You may use an example from an organization (or industry) for which you do or have worked or you can find an example from past news stories or PR releases.

b. Provide an example of an organization either successfully or unsuccessfully implementing/following the links the service-profit chain. Your example does not need to detail every link in the chain, but it should incorporate a majority of the links.

Formatting Guidelines.