341 F10 C1.2 CRM

341 F10 C1.2 CRM - Chapter 1 Part Deux From the Creators of...

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Chapter 1 Part Deux
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From the Creators of South Park.
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Jenny Hess – show the love group. From the “Love Group.”
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“Learn and understand fundamental components and tools for marketing and how each relates to creating and sustaining value for customers.” Attract and retain the right customers. Profitability
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Customer Relationship Management Building relationships by delivering satisfaction Customer Perceived Value Perceived benefits minus costs relative to competition
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Dissatisfaction Delight Satisfaction
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The Anticipation before…
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$50,000 $600,000
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0 1 2 3 4 5 6 7 Customer Profit Year Price Premium Referrals Cost Savings Revenue Growth Base Profit Acquisition Cost
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Impact of 5% retention increase on NPV
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Loyalty Latent Loyalty Inertia (not loyalty) No Loyalty High Low High Low Behavior Attitude “The Love Group!!”
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1. Reduces the cost to acquire customers 2. Reduces the cost to serve customers 3. Helps firm identify unprofitable customers 4. Facilitates experimentation / learning 5. Helps firm measure ROMI 6. Allows the firm to focus marketing dollars
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Identify Key Information Set up a system for Marketing
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This note was uploaded on 11/27/2011 for the course BUS M 341 taught by Professor Scottsmith during the Fall '10 term at BYU.

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341 F10 C1.2 CRM - Chapter 1 Part Deux From the Creators of...

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