This paper is a study of the economics of the retention of customers.
Written in 2005; 10,950 words; 0 sources; APA; $ 216.95
Paper Summary:
This paper presents a general review of the literature on customer loyalties to understand the return on investment (ROI) for holding a member for one, five or ten additional years and to understand the cost-effectiveness and programs of various companies in the banking, computers, and other competitive environments to demonstrate in what way membership organizations channel their resources. The author uses an exploratory comparative case study to analyze specific companies: Pacific Coffee Company, Canadian Imperial Bank, First Union Bank City Super, USAA, Mercedes, SunExpress, Telesales and PC Universe. The paper states that companies must develop a strategic that focuses their energy and resources totally on customer retention, customer relationships and the creation of customer loyalty and value so that attrition can be quickly identified and remedied and defection can be prevented. Tables
Table of Contents
Introduction
Introduction
Background
Purpose of the Study
Hypotheses
Definitions of Terms
Organization of the Remainder of the Study
Literature Review
Customer Loyalty
The Customer Loyalty Pyramid
Store Loyalty and Brand Loyalty
Return in Investment (ROI) of Customer Retentions
Customer Lifetime Value (CLV)
Research Methodology
Purpose of this Study
Introduction
Participant Samples
Research Design
Conclusion
Research Findings
Pacific Coffee Company
Canadian Imperial Bank
First Union Bank
USAA
Mercedes
SunExpress
Research Analysis
Conclusion
Recommendations
From the Paper:
"Determining the CLV, or economic worth of a customer, is, in principle, a straightforward exercise. To calculate CLV, project the net cash son, household, or company whose revenues over time exceed, by an acceptable amount, the company costs of attracting, selling, and servicing that customer. This excess is called customer lifetime value (CLV). Customer lifetime value should be an important construct in designing and budgeting a number of marketing decisions such as customer acquisition programs (Dwyer, 1989). Recognizing its importance, many researchers in direct marketing have studied CLV and its managerial applications "
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