Superior Customer Value Strategies For Winning And Retaining Customers 3rd Edition Art Weinstein , D. Hank Ellison - Solutions

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What technological breakthroughs will AAA need to align with future customer travel needs and requirements?
Critique the organization’s business performance based on traditional (e.g., sales, profits, market share, and image) and valuebased (e.g., net present value, value over time) performance criteria. What can the organization do to improve its performance?
Do customers (level IV) perceive value as unsatisfactory, satisfactory, or superior? Why? Which attributes do customers value that are not receiving adequate attention by the organization?
Explain how the focal organization (level III) creates value for its customers. What strategic changes are required to deliver outstanding value to its customers?
Discuss the market factors (level II) in the case study. How do collaboration, competition, supplier, and regulators affect the performance of the focal organization?
Identify the relevant macroenvironmental factors (level I) in the case study. What impact do these issues have on the focal organization?
Discuss how supply-chain management enhances each of the following value elements:a. Priceb. Servicec. Qualityd. Time
Using the companies listed below, provide examples of how practicing supply-chain management would create more value for their end-user customers:a. Searsb. GMc. Motorolad. Disney
Are there situations when relationship marketing is not advisable? Why?
Discuss how to create “win-win” relationships with customers.
Why has interest in relationship marketing grown over the past decade?
List some of the customer retention strategies and tactics that your organization uses. What are some additional CR approaches that they should think about using?1. Compare and contrast traditional and relationship marketing.
Which of the CR measures listed in Figure 8.4 does your company currently use? Which measures should it use?
Does your firm segment its market through usage analysis?Describe your usage segments, and explain how you would implement a targeted customer value/marketing program for each key market segment.
What are the top three reasons for customers leaving your company? How can these switching motives be overcome?
Should companies develop a separate marketing plan for keeping customers?
In today’s quickly changing and highly competitive market environment, customer retention is more important than customer attraction. Do you agree or disagree with this statement?Why or why not?
Clarify the distinction between a company that focuses on products vs. one that focuses on customer needs.
How can your organization use the customer value/retention model to do a better job getting and keeping customers?
What is the relationship among customer value, customer satisfaction, loyalty, customer retention, and business performance?
Identify five companies that do a good job in retaining customers and upgrading customer relationships.
On a five-point scale, where 1 is “not very successfully” and 5 is“very successfully”, how good a job does your company do with respect to practicing integrated marketing communications(IMC)? How can your firm improve its use of IMC as a foundation for communicating customer value and
Explain how a retailer can use the six-step value-adding process to attract new business as well as do a better job satisfying and retaining existing customers.
Given the following value-added strategies, identify which techniques you are (1) currently using, (2) should be using, and (3)could use more effectively: Additional features/benefits Affordability Branding Customer involvement Customization/choice Enhanced quality Exceptional service Frequency
Is your firm’s positioning strategy based on the core, extended, or total product? What can be done to position your firm via a longer-term time horizon?
Discuss your current unique selling proposition (USP). Can you develop an even stronger USP which simply but elegandy communicates maximum value to your target market(s)?
How does your firm differentiate itself from its rivals? Describe your real and perceived competitive advantages.
Determine your “reference” price for each of the following products or services:a. 2-liter bottle of sodab. Bestseller bookc. Oil change for your card. 1-hour massage
Suppose a local used-car dealer is faced with the threat of an AutoNation opening up a few miles away. Which price differentiation strategy would you recommend, and why?
Price customization involves setting prices based on differences in customers and how they use the product or service and when and where the offering is used. Give several examples of how price could be customized in each of the following situations:a. Concert ticketsb. Car rentalc. Management
Select an industry and create a value map that shows individual brands and how they compare to one another on price and performance (follow the example given in Figure 6.2).
How much does price contribute to an offering’s perceived value?
Discuss the relative importance of price in each of the following purchase situations:a. Automobileb. Life insurancec. Graduate educationd. Hair cut or stylee. Symphony ticketsf. Health care
How well understood is the pricing function in your company?Discuss.
How can businesses improve service quality? Discuss.
What evidence is there that quality and improving quality are important to the success of a business?
Suppose you were managing a mid-priced hotel catering to business travelers. Determine the key factors for assessing service quality; also, suppose you were a customer of that same hotel. What factors would you use to judge service quality?Rank your choices for each situation and then compare the
Suppose you were interested in purchasing personal tax preparation software. Give examples of how service failures could occur during pre-sale, transaction, and post-sale phases of the buying process.
Determine the extent of search quality, experience quality, and credence quality for each of the following situations:a. Buying a personal computerb. Applying to graduate schoolc. Setting up a retirement programd. Dining at a local restaurante. Visiting a theme park
How does quality function deployment bridge customer requirements with product/service features?
What are some of the common denominators in the definition of quality?
Why has quality become such a priority today?
What can your organization do to deliver truly superior customer value?
Does your firm offer a best value, discount value, expensive value, fair value, or poor value?
Has your company broken any industry “rules” lately? If so, explain.
How does your company work at being different and better than the competition?
What is unique about your VP?
How does your company augment its VP through the 3I’s:image, innovation, and intangibles (e.g., time, specialized knowledge, etc.)?
What core aspect of the value proposition (VP) does your company emphasize — quality, service, or price?
What do your customers value?
Define your company’s value proposition.
Suppose you are the manager of a quick-serve restaurant and you begin to notice that your lunch business is steadily declining. Moreover, you notice that customers are queuing up longer at the drive-through window. Which of the process improvement tools would you consider using, and why?
What is service blueprinting and when is it appropriate to use?
What is a value statement? See if you can describe your firm’s value statement.
What questions would you ask if your company was currendy undergoing a review of its processes?
Explain the purpose of the Deming cycle for assessing process effectiveness.
Explain how you would use the marketing cycle and process model to analyze your current business situation.
How does the process view differ from the functional view?
Describe the relationship between process and value.
How good a job does your organization do with respect to internal, interactive, and external marketing? How can these areas be improved?
Are your company’s marketing programs and processes nonresponsive, reactive, responsive, proactive, or anticipatory? Provide anecdotal support for your view.
How does your firm’s market orientation assist your firm in delivering superior customer value?
Is top management committed to being market oriented? What changes does your company need to implement to become more customer driven? Discuss business culture and strategic issues in your response.
Discuss product-related factors that impact your market orientation (e.g., current product mix, new product development programs, perceived product and service quality, etc.).
How customer oriented is your organization? Comment on each of the following attributes:a. Customer focus — who are your customers and what do they value?b. Competitive focus — who are your competitors and what are their strengths and weaknesses?c. Interfunctional coordination— how is your
How can your organization improve with respect to purpose(customer focus) and process (customer support) activities?
Does your company stress conquest or retention marketing?What should they emphasize and why?
Are there new types of value providers (adders) that your firm should employ to do a better job of serving customers? Which existing management or staff positions should be restructured or eliminated because they add little or no value to customers?
How does your current service mix create value for customers?What new service products should be introduced that your company does not offer?
Identify three “best practices” from other industries that your company can adapt to provide better value to your customers.
Using the value hierarchy (attributes, consequences, and end states), assess how well your organization fares with respect to customer value desires?
Based on the QSP approach, objectively rate your company as above average, average, or below average on product quality, service, and pricing.
How does your organization create value for customers? How are your competitors creating value? What can your organization do to offer superior value to customers?
What is meant by customer value? In general, what do customers value?
You are the owner of a small professional services firm and want to get a better handle on your customer value metrics. You heard about the idea of a marketing dashboard at a recent trade association meeting and think that may solve your problem. How should you proceed? What key performance
In contrast to question 6, “you’re hired” by a telecommunications company seeking to increase its market presence in Latin America and Asia. As one of the many hats you will be wearing, your boss, the vice-president for emerging markets, has asked you to develop a marketing metrics program.
In the television show, The Apprentice, Donald Trump is known for saying,“You’re fired.” At times, that response is called for when dealing with unprofitable or difficult clients. How should you handle instances where separation from customers is the best strategy. Provide an example from the
Explain why a customer equity perspective is preferable to a brand equity perspective.
Many high-tech companies have a hard time getting everyone onboard with the corporate mission, vision, and goals. Marketing does not communicate well with sales, and engineering and finance are at odds. Given this situation, what should the CEO do to align business objectives? What are the
In what ways can a Web-based company capture customer data? How should that company convert the data into CLV?
How does your company measure the value of customers? Does your company collect VOC data? How might CLV be utilized within your company?
Why is it important to measure customer value? To whom (within the company)is customer valuation important?
As an entrepreneur starting a Web-based company selling restaurant supplies, what metrics would matter the most to you?
A marketing dashboard consists of a battery of measures of business performance. As a consultant to a consumer packaged-goods company, identify five key CV-based metrics that should be part of the dashboard.
NPS—used by Enterprise Rent-A-Car, JetBlue, Intuit(manufacturer of TurboTax software), and thousands of other companies—is a valuable and easy-to-use metric.Critique this metric as the primary tool for monitoring business performance.
Are your metrics based on subjective measures or objective measures (key performance indicators)?
Do your measures consider relative performance (compared to competitors) as well as absolute numbers (your corporate business performance)?
Can you move your analysis from independent measures(e.g., sales or profits) to causal chains (e.g., value creation, satisfaction, loyalty, market performance)?
Do your marketing metrics consider microlevel data (e.g., share of customer) as well as macrolevel data (e.g., market share)?
Do your marketing metrics adopt a long-term perspective?
Does your company develop forward-looking metrics taking into account changing competitive dynamics, environmental shifts, and internal initiatives, such as new product launches and brand extensions.
Do your marketing metrics use the same financial language as the rest of the company?
Best Buy has redesigned its stores to appeal to specific market segments such as high-income men (Barrys), suburban moms (Jills), male technology enthusiasts (Buzzes), young family men (Rays), and small-business owners.The company plans on targeting two of the five segments based on the
Choose a company in one of the following industries: business services, technology, B2B distribution, or an Internet pure-play. Answer the following five questions:a. Identify approaches that the company should use to retain customers and build long-term relationships.b. Rank your top three
Does your firm segment its market through usage analysis? Describe your usage segments and explain how you would implement a targeted customer value/marketing program for each key market segment.
List some of the customer retention strategies and tactics that your organization uses. What are some additional CR approaches that it should think about using?
What are the top three reasons that customers leave your company? How can these switching motives be overcome?
Identify five product or service categories (and organizations, as applicable)whereby you exhibit varying customer loyalty patterns.a. Complete loyaltyb. Situational loyalty—high loyalty for selected purchasesc. Multiple loyalty—a high degree of loyalty to two or more organizations in a
Should companies develop a separate marketing plan for keeping customers?
In today’s fast-changing and highly competitive market environment, customer retention is more important than customer attraction. Do you agree or disagree with this statement? Why or why not?

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