In the chapter discussion about CRM, you read about four key characteristics of CRM: share of customer, lifetime value of a customer, customer equity, and customer prioritization. Each of these elements is discussed in the context of monitoring and assessing the effectiveness of a CRM initiative. Consider J.C. Penney's loyalty program, JCP Rewards. Go to their website (www.jcprewards.com) and review the infor- mation about their reward program. 5-17. In what ways could J.C. Penney expect to measure the four elements of CRM within the context of a reward program such as this? 5-18. How would data be collected for each element, and how might management at J.C. Penney use that data to provide loyal customers with a very strong relation- ship with the firm?
In the chapter discussion about CRM, you read about four key characteristics of CRM: share of customer, lifetime value of a customer, customer equity, and customer prioritization. Each of these elements is discussed in the context of monitoring and assessing the effectiveness of a CRM initiative. Consider J.C. Penney's loyalty program, JCP Rewards. Go to their website (www.jcprewards.com) and review the infor- mation about their reward program. 5-17. In what ways could J.C. Penney expect to measure the four elements of CRM within the context of a reward program such as this? 5-18. How would data be collected for each element, and how might management at J.C. Penney use that data to provide loyal customers with a very strong relation- ship with the firm?
Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
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Transcribed Image Text:In the chapter discussion about CRM, you read about four key
characteristics of CRM: share of customer, lifetime value of a
customer, customer equity, and customer prioritization. Each
of these elements is discussed in the context of monitoring and
assessing the effectiveness of a CRM initiative.
Consider J.C. Penney's loyalty program, JCP Rewards. Go
to their website (www.jcprewards.com) and review the infor-
mation about their reward program.
5-17. In what ways could J.C. Penney expect to measure the
four elements of CRM within the context of a reward
program such as this?
5-18. How would data be collected for each element, and
how might management at J.C. Penney use that data
to provide loyal customers with a very strong relation-
ship with the firm?
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How would data be collected for each element and how might management at JC Penney's utilized the data to provide loyal customers with a very strong relationship with the firm
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