Use the Excel template VLC to find the average value of a loyal customer (VLC) in a target market segment if the average purchase price is $75 per visit, the frequency of repurchase is seven times per year, the contribution margin is 10 percent, and the average customer defection rate is 25 percent? Round your answer to the nearest dollar. $ 69
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- r = discount rate C = net cash flow (the profit) at time t (The initial cost of ac- quiring a customer would be a negative net cash flow at time 0.) How much are you worth to a given company if you continue to purchase its brand for the rest of your life? Many marketers are grappling with that question, but it's not easy to determine how much a customer is worth to a company over his or her lifetime. Calculating customer lifetime value can be very com- plicated. Intuitively, however, it can be a fairly simple net pres- ent value calculation, which incorporates the concept of the time value of money. To determine a basic customer lifetime value, each stream of profit (C, the net cash flow after costs are subtracted) is discounted back to its present value (PV) and then summed. The basic equation for calculating net present value (NPV) is: NPV can be calculated easily on most financial calculators or by using one of the calculators available on the Internet, such as the one found at…You are approached by the marketing director of a local company, who believes that he has devised a foolproof way to measure customer satisfaction. He explains his scheme as follows: “It’s so simple that I can’t believe that no one has thought of it before. I just keep track of the number of customer complaints for each product. I read in a data mining book that counts are ratio attributes, and so, my measure of product satisfaction must be a ratio attribute. But when I rated the products based on my new customer satisfaction measure and showed them to my boss, he told me that I had overlooked the obvious, and that my measure was worthless. I think that he was just mad because our bestselling product had the worst satisfaction since it had the most complaints. Could you help me set him straight?” Who is right, the marketing director or his boss? If you answered, his boss, what would you do to fix the measure of satisfaction? What can you say about the attribute type of the original…Customer lifetime value (CLV) focuses on: Group of answer choices net present value of a customer's business over the span of it's relationship with the selling firm. The initial order size to establish a customers buying patterns for future orders. Expediting future orders as customers are staying with sales firms for shorter periods. the profitability value of a customer short and long term.
- Which of the following is a retail selling expense for an aromatherapy shop like Sage? OElectricity. Mall rent. O Interest payment on a start-up loan. Office supplies. Salaries paid to its sales staff2-19. EXCEL APPLICATION: IT Benchmarks Jay's Bikes is a family-owned and operated business that stocks a wide range of bikes designed to fit the needs of professional riders, your child's first bike, and everything in between. The business has 12 full-time employees. Download the Excel file Ch02Ex01 (Figure 2.21) to calculate average IT spending so that it can be compared with the retail industry average. Recall that average IT spending in the retail industry is about 2 percent of revenue. How do Jay's IT expenditures compare with the industry average? How much would Jay need to change spending in order to match the retail industry average? Figure 2.21 Jay's Bikes revenue and IT expenditures. A 1 2 3 34 Revenue B Apparel & shoes Bike accessories New bikes Used bikes Bike repairs 5 6 7 IT Expenditures Hardware 8 9 10 11 12 13 с $ 1,250,000 $ 550,000 $ 2,650,000 $ $ $ 15,000 18,000 4,500 4,500 5,000 5,000 $ 1,200 sssssssssss Software updates Software licenses Software support Employee…Consider a telecommunication service provider. You have the following quarterly data: STATISTICS TYPICAL CONSUMER Number of referrals per period (n=n1+ n2) 5 of which, customers that joined due to the referral (n1) 3 of which, customers that would have joined anyway (n2) 2 Marketing cost per period (Mty) $30 Average gross margin (Aty) $78 Cost of referral (aty) $15 Acquisition cost savings (ACQ1ty and ACQ2ty) $10 Yearly discount rate (r) 15% Calculate CRV of a typical customer for one year (over 4 quarters).
- What is the result when sales exceed the cost to produce goods or render services? What is the result when cost to produced goods or render services is greater than the sales? A. Selling B. Revenue C. Benchmarking D. LossTHE CORRECT ANSWER IS OPTION A . EXPERT SOLUTION IS MISLEADINGAn analytical tool that measures a company’s performance against a predetermined standard is a/an: Multiple Choice profitability analysis common-size statement benchmark comparison analysis time-series analysis.
- Use the Excel template VLC to find the average value of a loyal customer (VLC) in a target market segment if the average purchase price is $90 per visit, the frequency of repurchase is five times per year, the contribution margin is 20 percent, and the average customer defection rate is 25 percent? Round your answer to the nearest dollar. $give the correct options for questions 1 to 4 and give a brief why the option is correct.The marketing manager of a large truck manufacturer was surprised to learn that the price lists generated by his department had little relation to the prices that were actually charged to customers. The company’s finance department often changed the prices to conform to profit goals before the prices reached the company’s sales force. The salespeople often gave customers discounts to increase their sales volume. The operations manager made price adjustments to accommodate delays in promised shipping times. Based on the situation above, what do you think is the best possible solution?