A key driver of shareholder value is the aggregate value of the customer base. Identify the five strategies employed by successful companies to improve the value of their customer base
What will be an ideal response?
Winning companies improve the value of their customer base by excelling at the following five strategies:
1. Reducing the rate of customer defection
2. Increasing the longevity of the customer relationship
3. Enhancing the growth potential of each customer through "share-of-wallet," cross-selling, and up-selling
4. Making low-profit customers more profitable or terminating them
5. Focusing disproportionate effort on high-value customers
You might also like to view...
State Street Digital Company starts the year with $3500 in its Estimated Warranty Payable account. During the year, there were $213,000 in sales and $4900 in warranty repair payments. State Street Digital estimates warranty expense at 4% of sales. The Warranty Expense for the year is ________.
A) $8520 B) $4900 C) $3500 D) $7120
Interpersonal and intrapersonal communication can be hindered by the following critical errors.
A. assumption-observation, failure to discriminate, and allness B. assumption-observation, failure to quantify, and sameness C. assumption-observation, failure to listen, and sameness D. assumption-observation, failure to discern, and oneness
Discuss differences in approach and potential usage between target and kaizen costing
Since Debbie's last test score was ________, she plans on studying ________ this time around
A) the miserablest/most diligently B) more miserable/most diligently C) miserably/diligent D) miserable/more diligently