Week 2 Discussion Forum
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
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.
Record your lifetime value calculation and discuss how the company tries to retain and grow your business as a most valuable customer.
As you read through your classmates’ posts you will notice that they may be a most valuable customer to a product for which you hate or infrequently purchase. Comment on these inconsistencies as you see them and why you think that happens.
Review the customer satisfaction scores in Table 2.2 of the Week 2 readings. What do you think? Do you find these particularly low, and would you prefer to see them close to 100 percent? Why do you think they fluctuate? Can any company ever achieve 100 percent customer satisfaction? As a customer, what are some of the sources you use to assess customer satisfaction with a product or service you are considering? How dependable do you view that source? (Think of consumer sources like Consumer Reports, or customer-provided reviews,etc.)
Please post on only one or two of these questions and allow your fellow classmates to post something original. Feel free to comment on classmates' posts, especially if they already identified one of your sources for customer satisfaction.
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 best cause-related marketing campaigns of 2014. Pick one to share with us why you think this was a good cause-marketing campaign.
Then, review classmates' posting as comment as appropriate.
Go online to the M&Ms website (http://www.mms.com/us/index.jsp) and evaluate it. You will have to go through more than just the main landing page—click on the current contests and other pages to get the data you need. What does the company do to build loyalty? To build community? Are there opportunities for feedback? Does the company partner with other organizations to leverage the loyalty those other companies enjoy with their customers? If so, what is the company doing? Overall, what do you think is most effective about the site? What is the least effective? Are you a loyal customer of M&Ms? If so, why?
These questions are meant to stimulate your thinking and you don't have to answer each and every one one them, especially if another classmate has already covered the topic adequately.
Then, after reviewing other posts, comment as you deem appropriate.