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The scenario of this determines that marketing manager of Home base company has decide to introduce customer lifetime value matrixes in order to develop an understanding among staff members in the context of effective customer relationship.
- Discuss the concept of customer lifetime value and analyze how to calculate the impact different factors within Home base company.
- Analyze several segments related to customer’s base and opportunity of customer value creation process.
- Determine appropriate technique as well as method that can assist in increasing customer lifetime value in Home base company.
The aim of the report to show the custom life time values it is very important aspect tit give the proper knowledge of customer values. So most of the organization uses this system fro earning more profit and increasing their sales (Kotler, P., 2017). This report also explaining the different kind of method and technique increase the customer value for lifetime and establishing the trust in brand , it also show the several types of components and it is also expanding the business to business models and business to consumer models. It also defining the benefits of customer life time management to the organization. consumer are use Home base company product and satisfied with them,product is very effective and more consumer like there services it will help for long run work and they have earn more income so they use in their customer value management.
P1) Explain and analyze the various components that enable an organization to determine and calculate a customer life time value
Today customer is the king of the market so every company has to need maintain customer trust regarding their product. It is necessary for achieving the goal of the organizations. it is related to the monetary value that effect the customer purchasing power. Home base organization is maintained to their customer relationship with customer. So they have maintained their services as follow marketing strategies. It can be defined that value of consumer. The components of marketing (Kotler, P., 2017). It is one of the most importances of customer relationship and increasing the ability of clients or individuals. Home base organization is using some tools marketing practices they provide n effective management to their customer. It is related to the consumer satisfaction they focus on product. They specifically focus on on their client demand.
They increasing the availability of customer details and also create the marketing strategies. Customer Value Management helps to maintain business efficiency. It is one of the most important data. Home Base Company is research and analysis some method and technical issues research on consumer and determinants of consumer life time this firms. They implement of consumer value management de .The aim of this organization is provide customers value managements. This company produce lots of production market they focus on their quality of products it is very important aspect to maintain the quality of product as well maintain their relationship with customer (Kotler, P., 2017). They increase their profit through customer so they need to maintain customer value or managing all the work in organizations. They develop their brand loyalty it is also most crucial point. They develop CLV models also and using in proper manner. They also retention their customer and deals with effective manner and using multi channels for managing their customer values though social media, email.