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Topics and Objectives:
Like products, customers too have a lifecycle.
Just as the Product Lifecyle is the foundation for Product Management, the Customer Lifecycle forms the foundation for Customer-Centric Marketing. As you will see from the (optional) links below, consulting firms have been quick to promote the virtues of Customer Lifecycle Management.
The case focuses on the early stages of the customer lifecyle: prospecting and customer acquisition.
Required Readings:
The Customer Lifecycle
Marketers are all familiar with the Product Life Cycle - this note introduces the Customer Lifecycle which will serve as a unifying framework for
customer-centric marketing. As customers progress through the customer lifecycle, their profitability changes, firms accumulate more data on them and they are targeted with different marketing initiatives.
A Framework for Customer Relationship Marketing
Case: The Independent Adviser for Vanguard Investors
Prepare the case for class discussion. Specifically, what should Dan do with respect to his next prospecting offer?
Optional Readings:
Building the Customer-Centric Enterprise: Understanding the Customer Life Cycle, DM Review
This article - written by a team of consultants - is an excerpt from the book Building The Customer-Centric Enterprise - Data Warehousing
Techniques for Supporting Customer Relationship Management.
Is the customer life cycle in your business strategy? Stakeholder Power, Walker Information.
Leveraging CRM Throughout the Customer Lifecycle (Conversys Corporation)
Conversys is a large supplier of 'integrated customer care' including multi-channel customer contact centers. Their lifecycle management
focuses on 4 stages: acquisition, service, retention and growth.
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