Customer Lifetime Value
It is important to understand what you are selling before you can craft messages to target specific markets. The marketing “P” for product defines the features and benefits of the product that explains why a customer should buy your product. Product (or service) strategy is a guiding step in the overall marketing plan.
Your product line presentation to senior management will take place via video conferencing. You will need to prepare a PowerPoint presentation and an accompanying script in Word for the meeting.
Launching your Product
Your PowerPoint presentation and accompanying script will include the following:
· Company Competition—Develop a SWOT analysis to graphically depict your company’s current competition. Explain the SWOT in words.
· Segmentation—Consider who is interested in your product. Identify the type of customer groups interested in the product and why.
· Targeting Customers—Based on the product offering and customer segments, describe what customers segments you will serve and why.
· Product Positioning—Determine your positioning strategy for the product. What image do you want to project to your customers and prospects? How will you appeal to your selected customer segments?
· Use the 4Ps of marketing to help with this. For example, will we differentiate the price based on quality and value? Where will we distribute the product? For example, is your product distinctive, unique, or the best quality for the price? Write your positioning statement for the product.
· Customer Lifetime Value—How will you build customer lifetime value for the company based on your product marketing strategies?
Two files will need to be uploaded.
1. SCRIPT: A Word document using the attached template (MKT501 SLP2 Script). The Body of the Word Script must be at least 1000 words. Be sure to cite and reference your resources in the Word Script.
2. POWERPOINT Presentation of at least 15 slides in length
Mastering-Strategic-Management Chapter 5 Selecting Business-Level Strategies (PDF)
Mastering-Strategic-Management Chapter 6 Supporting the Business-Level Strategy- Competitive and Cooperative Moves (PDF)
Customer Lifetime Value http://www.marketingmo.com/campaigns-execution/how-to-calculate-customer-lifetime-value/