Customer Lifetime Value, the Value Chain and Mass Customization

Written Assignment 3 –  Customer Lifetime Value, the Value Chain and Mass Customization

1.       .   Not all customers have the same value to the organization.  What does this mean in terms of managing CRM.  How is this related to the concept of Customer Lifetime Value?

2.        .  Discuss customer anticipation or expectation and customer satisfaction.  What does this imply in managing customer relationships?

3.          What do we mean by the value chain?  Why is this an important concept in CRM?

4.         . Define mass customization.  How does this concept relate to customer satisfaction and customer retention?