Let’s look at the ‘Customer LifetimeValue’ marketing concept. We’ll use the following hypothetical scenario to calculate the total expenditurefor auto insurance: Monthly cost = $130Number of previous years = 15Number of future years = 35Prepare a one-page analysis (approximately 75-100 words) based on the following two questions: What would the total Customer Lifetime Value using these calculations? (show your worksheet)Why should all of a firm’s departments understand the impact of this strategy?
Originally posted 2018-07-13 23:55:17. Republished by Blog Post Promoter
. blackboard. com/webapps/assignment/uploadAssignment?content_id=_2536413_1&course_id=_60958_1&assign_group_id=&mode=view”>Business Model Canvas project – due this weekYou started working on the first 5 components last week, and this week, and you are required to submit all 9 sections before the end ofn this week using the link in Unit 3. Here is outline of the assignment titled: . blackboard. com/bbcswebdav/pid-2536413-dt-content-rid-22025351_1/xid-22025351_1″>Strategic Planning Using a Business Model Canvas. The submission of your completed project (all nine components) is due on or before 11: 59p EST on Sunday of this week. Each of your slides must have a complete set of notes explaining each component. Planning is a critical part of managing an organization, division, function, or department. We will be working towards the development of a marketing plan for a new venture that will be due in week 7. To help with that final project we’ve been practicing with a Business Model Canvas project in weeks 2 & 3. You will be using the Business Model Canvas as the format of your final marketing plan project due in week 7. Alex Osterwalder’s Business Model Canvas (BMC) is a strategic management and lean startup template for developing new or documenting existing business models. It is a visual chart with elements describing a firm’s value proposition, infrastructure, customers, and finances. It assists firms in aligning their activities by illustrating potential trade-offs. The chart consists of 9 such elements (1) Key Partners, (2) Key Activities, (3) Key Resources, (4) Value Proposition, (5) Customer Relationships, (6) Channels, (7) Customer Segments, (8) Cost Structure, and (9) Revenue Streams. . blackboard. com/bbcswebdav/pid-2536413-dt-content-rid-22025367_1/xid-22025367_1″>You can see a template for the BMC here. Here is a key point. . . you will be graded on your understanding of how each of the nine components relate to each other. For example, suppose your business model focuses on offering a high level of customer service. This will impact your cost structure, which, in turn, impacts your revenue (pricing) strategy. On the other hand, the value proposition component of your business model might be based on a low price/low service strategy. The same holds true for all nine components of the Business Model Canvas, and it will be your job to explain the strategy for each component and how they interact with each other. I know there is a lot here, but do the research, ask questions, and it will all make perfect sense once you get started!