Running Head: CHOOSING MY DOCTORAL TOPIC1Choosing My Doctoral TopicAlexandra FosterWalden University
CHOOSING MY DOCTORAL TOPIC2Choosing My Doctoral TopicMy Proposed TopicFor my doctoral research, I plan to study the effects of the Bucket Theory of marketing in relationship to customer retention. In a video produced by Walden University, Dr. Shawn Stanley emphasized the importance of choosing a topic you are interested in, as well as one you are comfortable with (Laureate Education, 2012b). Studying customer retention is very important to me, because customers are what drive every single business. You could have the best management, technology, business model, etc. in the world, but you are nothing without your customer base. Retention of current customers is extremely important, because there should be absolutely no reason for someone to shop somewhere else or buy a different product once they have purchased your product. A customer-centered atmosphere is a fool-proof way to ensure that you are keeping your current customer base, as well as reaching out to new customers. What many people do not realize is that word-of-mouth goes a lot further than any advertisement ever could, therefore making your current customers happy is the key way to ensure new customers will keep coming. HistoryThe Bucket Theory of marketing came about in 1990 when James L. Schorr, Senior VP ofMarketing at Holiday Inn presented the concept (Jones, 2008). The theory describes a bucket of water in which the water represents business. Therefore, the more business, the more revenue.