1. a) One of the factors mentioned in the reading from the textbook was data mining. L.L. Bean kept records of customer purchases stretching back four years which loosened the return policy for customers even more because they had in store proof of purchase. b) Chapter 5 discusses the topic of differentiation which is something L.L. Bean used specifically in their long time return policy. This policy is what separated the company for many years from the competition and now that they are dismantling
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Marketing: Managing Profitable Customer Relationships Learning Objectives After studying this chapter, you should be able to: 1. Define marketing and outline the steps in the marketing process 2. Explain the importance of understanding customers and the marketplace, and identify the five core marketplace concepts 3. Identify the key elements of a customer-driven marketing strategy and discuss the marketing management orientations that guide marketing strategy 4. Discuss customer relationship management
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the average ratings in comparison with other programming channels such as CNN and Lifetime. TFC’s rating was 1.0 per 1.1 million households, while CNN’s average rate was 4.0 per 4.4 million households and 3.0 per 3.3 million households for Lifetime. Another way to increase the revenue of the company is to increase the advertising price. TFC is not a good position in terms of consumer demographics. CNN and Lifetime have a better percentage of the male (45%) and female (43%) audience. Current main
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rise by about 4% in 2007, which is above 2006’s 2.5% price increase. Inflation remained fairly constant at 2.8%, and real GDP growth is expected to stay near 4.8% (Exhibit 1). GDP per capita is expected to rise, albeit only slightly. Regarding customers, TFC’s main strength is its ability to attract women between ages 35-54. The network’s main weakness lies in attracting men. A large threat to the company involves cable affiliates, who pay TFC a subscriber fee
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communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others. Defining Marketing An organizational function and a set of processes for creating ,communicating, and delivering value to customers and for managing customer relationships in ways
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company. The values that are presented represent not dollars but an index. Here is how the index works: Xavier has an average value customer score of 100. Howard on the other hand has a value score which is 50. The customer CLV becomes more valuable when your CLV value score is higher. For this organization we target the CLV customers that are in the 80s, 90s, and 100s. The customers with the highest scores are our most valuable customers and they are in the group I call the “loyal customers”. These are
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to fashion features 24 hours a day 7 days a week to a broad range of audience. This gave the channel a competitive edge marking it as the fashion leader channel in the market. However beginning 2006, the company noticed that other channel namely Lifetime and CNN were including fashion programs in their network and thus attracting audiences and advertisers. Advertisers had more choices to advertise through now and since these competitors were targeting the younger and stronger groups of audiences
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2. Tomorrow’s Car Wash products or services, and customers by developing a mission statement. Ensure that you are differentiating your product or service. 3. Mission and mission statement 4. Vision and vision statement 5. Guiding principles or values for my business. Culture, social responsibility, and ethics. 6. The vision, mission, and values guide the organization's strategic direction. 7. The organization addresses customer needs and critique how they achieve competitive advantage
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1) What is the value proposition of XM to different consumer segments? Who should be the primary target market for XM? * Nationwide coverage with excellent audio service * Greater variety of channels to choose from * Availability: home as well as for people on the go * Commercial-free XM satellite radio’s ability to provide radio service throughout the entire country regardless of a consumer’s location. Furthermore, terrestrial radio offers limited selection and is becoming increasingly
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Assignment solving spans various streams such as 5 C's of marketing - company, collaborators, customers, competitors, and climate Market Segmentation Target Market Selection Market Analysis – involving market sizing, drivers, restraints, trends, distribution channel, etc. 4P’s of Marketing Brand Equity Pricing Strategy Product life cycle Business Marketing Customer Lifetime Value Customer Relationship Management Marketing Orientation Integrated marketing communication Our highly
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