2 Consider Figure 3.5 (pg.74) and the differences in profitability and sales growth between the three firms. Are there any other factors other than those mentioned in the text that explain the differences in profitability and sales growth between these companies? I just wanted to add the importance of going above and beyond the product or service you offer and think about your customer service. Although the text was very detailed and explained all the factors that I feel are necessary for profitability.
3 Explain the “customer lifetime value” concept. CLV (Customer Lifetime Value) is a prediction of all the value a business will derive from their entire relationship with a customer. Thinking about a specific firm, how could it use the concept of CLV to increase the overall profitability of its customer base? Specifically the firm I work ApplExec Tax Consulting is the firm I chose. I believe the value of any product or service should remain consistent and reliable. In a supervisory position such as the one I maintain. Its important to instill in my team mates the importance of building “CLV”.
4 What do you think the future is for customized products? The future for customized products is growing. Personally, I love customized items; everyone wants things exclusive to only them. I know my mother for one thing she is very well off so its hard finding a gift