Rapid changes in the business environment are driving the need for professionals to employ data analysis at all levels of the organization. Understanding the information needs requires that professionals consider various business strategies.
Part 1 Simulation Results Report
Based on your Marketing
Simulation: Customer Centricity results, write a report that analyzes the relationship between market valuation and customer equity.
Instructions Part 1
Based on your Marketing Simulation: Customer Centricity results (https://forio.com/simulate/harvard/customer-centricity/simulation/#/dashboard), write a report that analyzes the relationship between market valuation and customer equity.
Note: You will need a free Harvard Business Publishing student account to access this resource. Please review the HBP account tutorial (https://forio.com/simulate/harvard/customer-centricity/simulation/#/dashboard
Summarize the business objective presented in the simulation.
Compare the Customer Lifetime Value (CLV) approach to a product-driven approach.
Identify the most valuable customers and discuss how the target customers maximize the business’ CLV by addressing the following:
Sector size differences
Customer acquisition costs per sector
Churn rates of customers within the sector, and effectiveness of retention efforts
The propensity to purchase premium products and services
The propensity to refer other customers
Recommend acquisition channels by describing how new customers with similar qualities will be found and attracted
Citation Requirements: minimum of 4
Word Count: 1,100
Summary of the business objective
Comparison of the Customer Lifetime Value (CLV) approach to a product-driven approach
Identification and discussion of the targeted customer based on the customer characteristics
Recommendation of the acquisition channels