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The economic value of the existing customers can be calculated by multiplying the customer lifetime value of each segment by the segment’s size and then summing the value of all segments.

Implementing change in an organization is complicated. It is important that a manager understands their role and responsibilities for which could very well be the success or failure of an organization. A manager should know how to handle staff resistance, and the areas that require change. There are processes that help management with assisting their staff members with adjusting to change and concentrate on the areas of importance. This process includes planning, assessment, implementation, and evaluation. The difference between a failed organization and a successful manager is when the manager has the ability to implement change with little disruption to

Customer Value is ‘the performance characteristics, features and attributes, and any other aspects of goods and which customers are willing to give up resources’ (Robbins, Bergman, Stagg and Coulter, 2012). This broad definition highlights the fact that there are multiple aspects that contribute to create a sense of value within the customer.

How is marketing defined? What is its importance in a company’s success? This paper will discuss and explain different definitions of marketing along with a definition of author himself. In addition, this paper will elucidate the importance of marketing by giving three examples where marketing was adapted with few mistakes resulting in disaster.

Every company wants to make money and bring in customers, but what about making loyal customers out of them so they continue to come back? How do you even bring in potential new customers and turn them into loyal customers to begin with? The lifetime value of a customer is a predicted value of net profit credited to the total future relationship of a customer. We want to know the financial value of each customer so that we know how much to spend in marketing when looking for new customers and the potential of profits back from the money in advertising spent. The grocery store chain must start looking at customers and how to make them happy and loyal in the long run, as opposed to how to boost sales right now. From the Marketing Management book, a well-known rule states that 80 percent or more of a firm’s profits come from the top 20 percent of its customers. Thus, we want to focus on brining in new customers with successful marketing and turning them into loyal returning customers.

Positive or negative, change can be challenging to manage because employees need to be on board and be obliged to make necessary changes as well as adjust his or her work habits. When implementing change, a manager may run into numerous obstacles from resistance from the staff to morale issues. This is primarily caused by a lack of understanding by the employees and a fear of how the change will affect him or her directly. Implementing change within an organization can be extremely difficult without a manager who understands d his or her role and responsibilities. This could be the deciding factor of whether or not the

Leaders within a business need to be cognizant of the signs of change resistance and develop strategies to overcome them. Individuals are averse to change for four reasons: fear of loss of value, lack of understanding regarding the modification, belief change is not warranted, and an intolerance for change (Kotter, & Schlesinger, 2008). Comprehending and addressing these concerns are crucial steps between success or failure.

Marketing is an important part of the business organization; it is more than just promoting and selling a product. Marketing is gratifying the changing needs of the customer. This can be best summed up by the very successful businessman Bill Gates when he quoted, "Your most unhappy customers are your greatest source of learning ". The purpose of this paper is to define marketing from at least two different sources; based on these definitions I will explain the importance of marketing in organizational success. Also, I will offer three examples from the business world of the importance of marketing to the

We will calculate the lifetime value of customers so that we know which ones are most desirable and most profitable.

Week 3, the lecture on Managing Change describes organizational changes that occur when a company makes a shift from its current state to some preferred future state. Managing organizational change is the process of planning and implementing change in organizations in such a way as to decrease employee resistance and cost to the organization while concurrently expanding the effectiveness of the change effort. Today's business environment requires companies to undergo changes almost constantly if they are to remain competitive. Students of organizational change identify areas of change in order to analyze them. A manager trying to implement a change, no matter how small, should expect to encounter some resistance from within the organization.

Section 1: Introduction. It has been said that resistance to change can paralyze an organization. My paper will examine the reasons organizations resist change, and present one strategy an organization should consider to reduce the organization's resistance to change. The resources for this paper will come from Chapters 6 and 10 of the textbook.

Customers are assets, and their values grow and decline. Segmenting customers based on their lifetime value is a powerful way to target them because marketing mix activities can then aim at enhancing customer value. (Ho, 2006)

Nowadays, more and more enterprises, especially hotels, put specific emphasis on the management of customer relationship. They start to notice that today’s market is no longer the enterprise-oriented market, while turns to be customer-oriented. Customer Relationship Management (CRM) is a series of commercial activities that are designed to help a company obtain and maintain the closer and long-term relationship with customers, so as to understand more about each individual, and then create value for them. Thus, customers can be more valuable to the company as well. In order to implement CRM strategies, the company needs to utilize advanced information

It is imperative to satisfy customers and give them an amazing experience at the company. While it cost less to sell to existing customers and companies can increase profit by selling to the same customers; if customers are satisfied, there is more chance they will come back for more services or products. Satisfied customers are a free marketing for the company. However, it is the opposite if customers are dissatisfied. Dissatisfied customer will tell 8 to 10 people about his or her experience (O’Brien, A & Marakas, G. 2004). If by any reason, representatives see that the customer is not satisfy, they should act fast and fix the problem. Furthermore, there is more chance for sale representatives to sell to an existing customer that to a new customer. A good strategy for customer retention is to reward good customers. Companies can easily do

The concept of marketing has evolved over time. Whilst in today’s business world “the customer is king”. In the past this was not the case, some businesses put factors other than the customer first. Product focused companies define themselves by their products. For example Kodak originally defined its self as being in the photo processing business. This definition impact the culture of the company in a way that hamstrings thinking and creates impediments for action. When the shift to digital cam Kodak resisted this because of the impact on its “products photo processing”.