Week7AssgnFosterA.doc - Running Head CHOOSING MY DOCTORAL...

Running Head: CHOOSING MY DOCTORAL TOPIC 1
Choosing My Doctoral Topic
Alexandra Foster
Walden University

CHOOSING MY DOCTORAL TOPIC 2
Choosing My Doctoral Topic
My Proposed Topic
For 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.
History
The Bucket Theory of marketing came about in 1990 when James L. Schorr, Senior VP of
Marketing 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.