Strategic Marketing for T-mobile?
- Customer satisfaction can identify how customers communicate their satisfaction or dissatisfaction with the chosen product or service offering.
- You may want to find a Most Valuable Customer (MVC) of the product or service if you are not one yourself, or alternatively think like an MVC. What is the evidence of an MVC of your product or service? It means that the customer is treated differently — better — than other customers. It means that the MVC represents about 20% of the company’s revenues. These are the customers with whom the company regularly communicates, offers special deals, and other ways as outlined in the text and as you can find with just a little bit of googling on the internet.
- You may want to calculate the lifetime value of a most valuable customer. See the discussion of the lifetime value calculation in the week’s reading, and calculate the LTV using this simple equation: LTV = (Price – cost to produce the product) * number of annual purchases * number of years expected to purchase – initial acquisition costs. For simplicity sake, you can assume your customer will have a relationship with you for ten years and you can make an educated guess as to how much the initial acquisition costs were to get him as a customer in terms of advertising or other types of promotion efforts. If you are not an MVC yourself, make and share your assumptions about your calculation. If you are not an MVC, you might want to find someone who is and ask them why they are loyal to the product or service and what they feel the company does for them that is special that they don’t do for other customers.
- SWOT analysis. Identify at least one element of each of the SWOT categories (a strength, a weakness, an opportunity, and a threat). Explain your choice using a citation if needed. Then identify possible implications for each of the four elements. Design a Table in which these elements are posted. For example, if a strength is a a strong national brand name, the implication is that the company may be able to launch other related products under the positive umbrella of the same brand name. Conversely, if a major weakness is the company is carrying a lot of debt, the implication is that the company not not be able to achieve significant growth, but may have to consider retrenchment strategies.