In Chapter 5, the text discusses the concept of “Maximizing Customer Lifetime Value” (“CLV”). 1.) Explain in detail what this concept means. 2.) Describe how a company or organization might perform the process of actually measuring “CLV”. In other words, how can I determine which are my most valuable versus least valuable customers? (For example “RFM”) 3.) Situation: You are a member of the Management Committee at NetFlix. Provide at least three legitimate recommendations as to how NetFlix can Maximize CLV in 2021 given the current competitive environment. Provide outside reference sources to support your answer.
In Chapter 9, the text discusses the concept of “Identifying Market Segments & Targets”. 1.) Explain in detail what this concept means – And why it is important is to you as a marketer. 2.) Using the four (4) bases for segmentation discussed in the text, how would you define the ideal market segment(s) for a targeted marketing campaign for NetFlix? 3.) We have discussed the foundational concept of “Database-Driven Marketing” (“DBM”) several times in the first half of this course. Situation: Again, you are a member of the Management Committee at NetFlix. How does database-driven marketing fit into NetFlix’s strategy to compete successfully in 2021? Provide outside reference sources to support your answer.
In both parts there are 3 questions each. For each question the answer should be minimum 2 pages in Apa format. So the total pages should be minimum 12 pages not including references.
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