We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Customer equity - Essay Example

Comments (0) Cite this document
Summary to essay on topic "Customer equity"
1. The goal of customer relationship is to produce high customer equity. Customer equity is the total discounted lifetime values of all the firms' customers. There are three drivers of customers' equality: value equity, brand equity and relationship equity…
Download full paper
Polish This Essay
Customer equity
Read TextPreview

Extract of essay "Customer equity"

Download file "Customer equity" to see previous pages... Value equity is the customer's objective assessment of the utility of an offering based on perceptions of its benefits relative to its cost. The sub drivers of value equity are quality, price and convenience. Brand equity is the customer's subject time and intangible assessment of the brand, beyond its objectively perceived value.
Let us write or edit the essay on your topic "Customer equity" with a personal 20% discount.. Try it now
The sub drivers of brand equity are customer brand awareness, customer attitude towards the brand and customer perception of brand ethics. Relationship equity is the customer's tendency to stick with the brand, beyond objective and subjective assessment of its worth. Sub drivers include loyalty programs, special recognition and treatment programs, community building programs and knowledge building programs. In the present relationship-marketing situation, most of the companies using technology such as E-mail, websites, call centers, databases and database software are helping to foster continuous contact between company and customers. Companies that want to develop strong customer relationships generally add financial benefits, social benefits and structural ties to its product. In providing financial benefits, companies provide customer the frequency rewards and club marketing. Today, most supermarket champions including Sainsbury offer price club cards and provide member customer with discounts. Many companies have created club membership programs to strengthen relationship with customers. Open clubs are good for building a database or snagging customers from competitors, limited membership clubs are more powerful long-term loyalty builders. Companies' personnel work on increasing social bonds with customers by individualizing and personalizing customer relationships. Customer relationship is more or less of the view that customer must maximize his or her relationship with the company through up selling and at the same time, enhancing profitability by identifying, attracting and retaining the best customers. Through better relationship and customer's information, customer time could be saved. Putting better customer relationship requires developing a set of integrated applications to address all aspects of front office needs including automation of customer services, field service, sales and marketing. The main aim of better customer relationship includes acquiring, enhancing and retaining the customer. Sainsbury has done this quite successfully. To acquire and retain the customer and to develop a long-term relationship Sainsbury is providing healthy, safe, fresh and tasty food as well as at fair prices. Sainsbury's price competitiveness is currently the best. It has been for many years following the investment of more than 450 million pound over the last three years. Around 15,000 prices are checked every week to make sure its competitive position has been maintained. In August 2007, Sainsbury has launched. "Different values" campaign to provide its customer, the products of higher quality specifications and great values. In March 2003, Sainsbury launches "Feed your family for a fiver" campaign to reach out and maintain a long-term relationship with its customers through providing affordable, healthy and nutritious meals for a family of four could be prepared with the budget of 5 pound. Sainsbury's values are not just for food items but available for non-food ...Download file "Customer equity" to see next pagesRead More
Cite this document "Customer equity"
  • APA
  • MLA
  • CHICAGO
(“Customer equity Essay Example | Topics and Well Written Essays - 6000 words”, n.d.)
Customer equity Essay Example | Topics and Well Written Essays - 6000 words. Retrieved from https://studentshare.org/miscellaneous/1501816-customer-equity
(Customer Equity Essay Example | Topics and Well Written Essays - 6000 Words)
Customer Equity Essay Example | Topics and Well Written Essays - 6000 Words. https://studentshare.org/miscellaneous/1501816-customer-equity.
“Customer Equity Essay Example | Topics and Well Written Essays - 6000 Words”, n.d. https://studentshare.org/miscellaneous/1501816-customer-equity.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC "Customer equity"
The Role of Social Media in Managing Customer Relationships
According to the paper customer Relationship Management is not a new concept. It is major part of the customer centric concept management.The varied CRM techniques will be highlighted and its significance while promoting the products, services through social media marketing will be also analyzed. Finally, the study will deal with the critical analysis, my opinion and the key aspects of the CRM in the usage of social marketing.
17 Pages(4250 words)Essay
The role of social media in managing customer relationship
‘Consumerism’ is the pivotal goal or motto of almost all the enterprises in the modern world. Business firms can never be successful in generating economic surplus without enhancing and modifying customer relationships.
15 Pages(3750 words)Essay
Significance of Customer Portfolio Management in Modern Business Environment
Significance of Customer Portfolio Management in Modern Business Environment Introduction Today the business world is facing too many challenges when it comes to rapidly changing customer needs and new business practices. In the new business environment, organisations cannot run their business successfully unless they are well informed about the needs of their different customer groups.
10 Pages(2500 words)Essay
Customer Portfolio Management
Customer Portfolio Management [Student’s Name] [Course Title] [Instructor’s Name] [Date] Customer Portfolio Management Introduction Customers are considered as an asset for a business, because; these customers are the one who influence policy and business strategy development.
10 Pages(2500 words)Essay
Customer Value Measurement
Customers and suppliers are important stakeholders. "Stakeholders are those individual or groups who depend on the organisation to fulfill their own goals and on whom, in turn, the organisation depends" (Johnson et. al.2005:179). Today, with increasing number of challenges facing firms with respect to stakeholders' management, they are obligated to deliver quality just to keep up or stay even with their rivals.
8 Pages(2000 words)Essay
Identity-Based Brand Equity Model A Conceptual Framework
As a matter of fact, the majority of these brand equity models are based on an outside-in perspective focusing on the consumer's perception of the brand and the related buying and usage behavior. An integrated perspective including an internal perspective such as employees as an important internal source of brand equity has received little attention.
11 Pages(2750 words)Essay
W6 Asign BA541 Customer-Based Metrics
ward Schultz implemented all the changes to the coffee shop, an observer can say that the company was able to provide a product and service customers wanted. As a consequence, it can be deemed that Starbucks satisfied this metric. An issue with this is at some point there will
3 Pages(750 words)Essay
Customer Lifetime Value (CLV)
It is one of the leading international food-service retailers serving 52 million customers with over 30,000 restaurants in more than 99 countries. More than 70 percent of the company of the company are operated and owned by independent local women and men. I. CLV aids in
1 Pages(250 words)Essay
Summary
First an organization needs to identify the reason due to which the customer was causing losses and assess their overall relationship with the organization. Next the
1 Pages(250 words)Essay
Customer portfolio and Strategic Account Management 04255
This as a result gave rise to the customer relationship management which became a vital part of strategic account management. The customer portfolio is now considered as a vital part of
12 Pages(3000 words)Essay
Let us find you another Essay on topic Customer equity for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us