Question: TOPIC 2: Customer Relationships
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 selfishgiving. Scroll to the author's list of 2016 best cause-related marketing campaigns. Select a campaign to share with us and explain why you think this was a good cause-marketing campaign.
Conversely, find a cause-related marketing campaign you think was not launched.
Comment on at least one (1) classmate's postings. Use at least one (1) reference and a link to the cause-related marketing campaign.
TOPIC 3: CRM
The goal of any formal customer relationship management program is to attract and retain profitable customers with high customer lifetime value.
Can you identify a company for which you might be considered a most valuable customer, where you are in Level 1 of their customers (See Figure 2.5, Levels of Customers Based on Profitability)?
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. 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.
Required: Record your lifetime value calculation and discuss how the company tries to retain and grow your business as a most valuable customer.
You do not need to interact with another classmate and you do not need to use a reference.