Discussion questions:
Consider customer lifetime value (CLV). Choose a business and show how you would go about developing a quantitative formulation that captures the concept. How would that business change if it totally embraced the customer equity concept and maximized CLV?
Since we discussed this chapter in an earlier week, I am not posting a first message. However, please feel free to begin a discussion that does not replicate the earlier one.
Pick a brand and go to its Web site. Locate as many forms of communication as you can find. Conduct an informal communications audit. What do you notice? How consistent are the different communications?
OR (BETTER YET), use the company for whom you now work.
What are some of your favorite TV or Internet ads? Why? How effective are the message and creative strategies? How are they creating consumer preference and loyalty and building brand equity?
The chapter discusses various forms of and ways to stimulate interpersonal communication. Choose a company you think has effectively done this and analyze their efforts. Do you think it was effective? How might you improve the process?
Think of a recent situation where a company faced negative publicity. How did the firm handle it? Was this an effective method? What would you recommend they could have done differently?
The video mentions that the rise in use of social media has dramatically altered the face of PR. Have social media made a difference in the way you engage in consumer behavior (search, evaluate. and purchase) products? If so, how?
Based on your simulation results, what are some key things to consider in identifying target audiences and evaluating results from a campaign?