3 pages/≈825 words
Literature & Language
CUSTOMER VALUE MANAGEMENT (Essay Sample)
Read this article about Levi-Strauss found in the ProQuest data base. Tullo, Paul. Cutomer value management: The true value of customers Paul Tullo. Brand Strategy. London: May 8, 2008. pg. 30 http://tinyurl.com/cvmarticle Here's a thought-provoking article from the Wharton School database: http://wharton.universia.net/index.cfm?fa=viewfeature&id=1452&language=english Here are some notes from an online forum. it' not an academic or published source but I found it accurate and helpful: http://www.customerthink.com/forum/important_customer_value_management You can also google "Customer Value Management" and "CRM" to get additional info. Just stay away from Wikipedia. Assignment: Choose any company you know from first-hand experience or reading. imagine the president of the company hires you as a consultant. He's paying you big bucks to answer this question: "We have been practicing CRM for many years. Now we want to take a CVM approach. We want to focus only on the highest-value customers. We will encourage the rest to ...well, go elsewhere. "I need a very strong recommendation from you. You will not get paid to say, 'It depends.' But I also need lots of logic -- i have to sell your answer to our Board of Directors. "Please cite sources you use but do not use long quotes (that's for amateurs, not pro consultants like you). No definitions. We want your analytical brainpower displayed in this memo." Click here for guidance on citing sources. Important: Please use your own words and ideas. Copying ("cut and paste") and close paraphrasing are not appropriate. You cannot get credit for a paper that includes *any* component of plagiarism. You are expected to develop and support your own ideas. Summarizing or "regurgitating" from the background materials will not be considered fulfillment of an assignment. source..
CUSTOMER VALUE MANAGEMENT
(24, October, 2010)
There are various ways in which individuals and companies in the world use to obtain new customers and at the same time maintain the customers that they have acquired in the process of the trading process. Many companies in the world uses different types of management and customer relations that are aimed at ensuring the companies maintain there customers and at the same time maintain there customers in the companies. This is by ensuring that customers are well taken care of and at the same time their varied needs are fulfilled, thus making the customers feel as parts of the company (Pease, 2002).
There are several methods that are used by companies in attempts aimed at retaining and recruiting more customers into there companies amongst these methods; some common methods of customer retaining includes Customer Value Management (CVM) and the Customer Relationship Management (CRM). These are some methods used by various company’s marketing departments in there efforts of retaining and relations with there customers (Yunak, 2009).
After being hired by Hewlett-Packard as a consultant in the customer relations area in my capacity as the customer relations consultant, I will introduce different aspect of customer relations that will bring the company and customers close to each other. At the same time bridging up the gap that was initially there between customers and the company and in the end this will result to a good relations between the customers and the company (Shulman, 2008).
The company has always been practicing Customer Relationship Management (CRM) in the ways that it interacted with its customers. In this type of customer relations the company used the strategy of in managing the way the customers of the company interacts with its clients, customers and sales prospects (Prater, 2010). This is when the company used technology in ways aimed at organizing, computerize and coordinate its business activities. This was mostly in the sales, marketing, customer service and technical sectors. While in the long run the company attracted new customers natured and maintained the once it had. This method also resulted to the company cutting down its costs in marketing and customer relations. This strategy was large as it catered for a large section of the customer relation department and the other departments (Shulman, 2008).
As a new consultant I am aiming at increasing the company’s sales and customer interaction with the company even further it I will introduce the use of Customer Value Management (CVM). These will improve the relationship between the company and its customers (Chang & Cheng, 2007). Hence, use of CVM will address the issues affecting the business, by combining customer values and economic values in order to improve customer services being offered to the ...
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