Customer Lifetime Value, the Value Chain and Mass Customization

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  1. Not all customers have the same value to the organization. What does this mean in terms of managing CRM. How is this related to the concept of Customer Lifetime Value
  2. Discuss customer anticipation or expectation and customer satisfaction. What does this imply in managing customer relationships?
  3. What do we mean by the value chain? Why is this an important concept in CRM?
  4. Define mass customization. How does this concept relate to customer satisfaction and customer retention?

Rubric Name: Rubric for Written Assignment Three

Criteria

Responds fully in explaining why customers do not have the same value to the organization. Provides a full explanation of how this relates to CRM and thoroughly discusses the concept of CLV and its relationship to CRM strategies.

Responds a limited explanation of why customers do not have the same value to the organization. Provides a cursory explanation of how this relates to CRM and thoroughly discusses the concept of CLV and its relationship to CRM strategies.

Does not thoroughly respond to the question of why customers do not have the same value to the organization. Provides a flawed explanation of how this relates to CRM and thoroughly discusses the concept of CLV and its relationship to CRM strategies.

Does not discuss the differing value of customers to organizations. Does not discuss how this relates to CRM and does not discuss the concept of CLV and its relationship to CRM strategies.

Thoroughly and completely discusses the relationship between customer expectation and customer satisfaction. Provides a thorough discussion of the implications of this phenomenon to CRM.

Discussion the relationship between customer expectation and customer satisfaction is limited and lacking depth and detail. Provides a limited discussion of the implications of this phenomenon to CRM.

Does not correctly identify the relationship between customer expectation and customer satisfaction. Does not understand or discuss the implications of this phenomenon to CRM.

Thoroughly and completely defines the value chain and provides an extensive and detailed discussion of the importance of this concept to CRM.

Discussion of the value chain is limited. Does not provide an extensive and detailed discussion of the importance of this concept to CRM.

Definition of the value chain is incorrect. Discussion of the importance of this concept to CRM is flawed.

Does not define the value chain. Does not provide a discussion of the importance of this concept to CRM.

Provides a thorough and accurate definition of the concept of mass customization. Provides an extensive discussion of how this concept relates to customer satisfaction and customer retention.

Provides a limited definition of the concept of mass customization. Discussion of how this concept relates to customer satisfaction and customer retention lacks depth and detail.

Mass customization is not correctly defined. Discussion of how this concept relates to customer satisfaction and customer retention is flawed.

Does not define the concept of mass customization. Does not discuss of how this concept relates to customer satisfaction and customer retention.
Overall Score

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