Assignment : (30% of final grade)
APA format, please cite the sources well, good citation, good in text citationand references.
Instructions
Written Assignment - Customer Lifetime Value, the Value Chain and Mass Customization
Papers should be four pages in length, excluding cover page and references page which will make it six pages in whole, double-spaced. Use headers to separate major themes or topics. Respond fully. Give examples when appropriate. Be sure to provide your own perspective on each of the questions.
1. . Not all customers have the same value to the organization. What does this mean in terms of managing CRM. How is this related to the concept of Customer Lifetime Value?
2. . Discuss customer anticipation or expectation and customer satisfaction. What does this imply in managing customer relationships?
3. What do we mean by the value chain? Why is this an important concept in CRM?
4. . Define mass customization. How does this concept relate to customer satisfaction and customer retention?
These are the readings; pls use this reading along with outside for the assignment. Please it is also very very important to follow the rubric below because the professor is really strict and wants everyone to follow the rubric.
https://saylordotorg.github.io/text_principles-of-marketing-v2.0/s17-customer-satisfaction-loyalty-.html
https://learn.umuc.edu/d2l/le/content/165747/viewContent/7317660/View
https://learn.umuc.edu/d2l/le/content/165747/viewContent/7317661/View
Rubric Name: Rubric for Written Assignment Three
The Lifetime Value of Customers Responds fully in explaining why customers do not have the same value to the organization. Provides a full explanation of how this relates to CRM and thoroughly discusses the concept of CLV and its relationship to CRM strategies. Responds a limited explanation of why customers do not have the same value to the organization. Provides a cursory explanation of how this relates to CRM and thoroughly discusses the concept of CLV and its relationship to CRM strategies. Does not thoroughly respond to the question of why customers do not have the same value to the organization. Provides a flawed explanation of how this relates to CRM and thoroughly discusses the concept of CLV and its relationship to CRM strategies. Does not discuss the differing value of customers to organizations. Does not discuss how this relates to CRM and does not discuss the concept of CLV and its relationship to CRM strategies.
Expectation and Satisfaction Thoroughly and completely discusses the relationship between customer expectation and customer satisfaction. Provides a thorough discussion of the implications of this phenomenon to CRM. Discussion the relationship between customer expectation and customer satisfaction is limited and lacking depth and detail. Provides a limited discussion of the implications of this phenomenon to CRM. Does not correctly identify the relationship between customer expectation and customer satisfaction. Does not understand or discuss the implications of this phenomenon to CRM.
Value Chain and CRM Thoroughly and completely defines the value chain and provides an extensive and detailed discussion of the importance of this concept to CRM. Discussion of the value chain is limited. Does not provide an extensive and detailed discussion of the importance of this concept to CRM. Definition of the value chain is incorrect. Discussion of the importance of this concept to CRM is flawed. Does not define the value chain. Does not provide a discussion of the importance of this concept to CRM.
Mass Customization and CRM Provides a thorough and accurate definition of the concept of mass customization. Provides an extensive discussion of how this concept relates to customer satisfaction and customer retention. Provides a limited definition of the concept of mass customization. Discussion of how this concept relates to customer satisfaction and customer retention lacks depth and detail. Mass customization is not correctly defined. Discussion of how this concept relates to customer satisfaction and customer retention is flawed. Does not define the concept of mass customization. Does not discuss of how this concept relates to customer satisfaction and customer retention.