This is a paper that is focusing on the Customer Satisfaction, Management and Empowerment assignment. The paper also provides directions to follow in writing the assignment paper.

Customer Satisfaction Management and Empowerment assignment

Part 2 – Customer Satisfaction, Loyalty,  Management and Empowerment
Learning Outcomes
1.  Customer empowerment.  Student can identify how their chosen product or service offering uses social networks to communicate and also empower customers to be part of the marketing process.
2.  Customer satisfaction.  Secondly, student can identify how customers communicate their satisfaction or dissatisfaction with the chosen product or service offering.
3.  Customer Relationship Management.  Thirdly, student can explain customer lifetime value and how a customer relationship management program can have a role in attracting and retaining most valuable customers.
4.  Customer privacy.  Fourthly, student can identify the product or service offerings privacy policy and analyze its effectiveness in protecting their customer’s information.

Directions

·         Firstly, you may want to find a Most Valuable Customer (MVC) of the product or service if you are not one yourself, or alternatively think like an MVC.  What is the evidence of an MVC of your product or service?  It isn’t just that the customer regularly buys the product or service.  Also, it means that the customer is treated differently — better — than other customers.  It means that the MVC represents about 20% of the company’s revenues.   These are the customers with whom the company regularly communicates, offers special deals,  and other ways as outlined in the text and as you can find with just a little bit of googling on the internet.

·         Secondly, you may want to calculate the lifetime value of a most valuable customer. Click on this link https://neilpatel.com/blog/how-to-calculate-lifetime-value/  for instruction on how to calculate the lifetime value calculation, and calculate the LTV using this simple equation:  LTV = (Price – cost to produce the product) * number of annual purchases * number of years expected to purchase – initial acquisition costs.  For simplicity sake, you can assume your customer will have a relationship with you for ten years and you can make an educated guess as to how much the initial acquisition costs were to get him as a customer in terms of advertising or other types of promotion efforts.

Customer Satisfaction Management and Empowerment assignment

If you are not an MVC yourself, make and share your assumptions about your calculation. If you are not an MVC, you might want to find someone who is and ask them why they are loyal to the product or service and what they feel the company does for them that is special that they don’t do for other customers.
·         Thirdly, you may need call or visit a store to take a look at your product or service. If the website does not provide you everything you need to evaluate the company’s product or service privacy policy.  Usually the privacy policy is available on the website.
·         Answer the following four questions in order and number the beginning of your response to each question.

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