TOPIC 2: Customer Relationships
Many companies use cause-related marketing to build their customer relationships. You see this when a product or service indicates a portion of each sale will benefit a specific charity.
Check out the blog www.selfishgiving.com. Scroll to the author’s list of 2016 best cause-related marketing campaigns. Select a campaign to share with us and explain why you think this was a good cause-marketing campaign.
Conversely, find a cause-related marketing campaign you think was not launched.
Comment on at least one (1) classmate’s postings. Use at least one (1) reference and a link to the cause-related marketing campaign.
TOPIC 3: CRM
The goal of any formal customer relationship management program is to attract and retain profitable customers with high customer lifetime value.
Can you 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)?
In this week’s writing assignment, you will get a chance to calculate a customer lifetime value. This will be a simple calculation, but if you want more details about the calculation or perhaps use it for your writing assignment, visit https://blog.kissmetrics.com/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.
Required: Record your lifetime value calculation and discuss how the company tries to retain and grow your business as a most valuable customer.
You do not need to interact with another classmate and you do not need to use a reference.
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