Assignment: Application: Consumer Portrait
Note that in many of the relationship-building programs that exist today, there is a distinction between casual users and heavy users. Companies have some customers that spend a lot of money with the company. Other customers sporadically buy from them, often when a substantial discount is associated with the purchase.
Another way to state this is that there are high-profit customersbut there are also low-profit customers that actually cost your company money. How do you ensure that you have an accurate consumer portrait that will allow you to create an effective relationship-building program?
For this weeks Assignment, you apply your learning to the airline industry when you create a customer portrait and utilize that information for marketing efforts at the fictional Walden Airlines. As the new Chief Marketing Officer (CMO), what are your big ideas for Walden Airlines? As you plan to complete this Assignment, consider some of the challenges airline loyalty programs face. How might awarding points based on ticket price generate more high profit customers? What other strategies can you employ at Walden Airlines to attract and retain high-profit customers?
To prepare:
Review this weeks Learning Resources.
The Assignment:
Create a 2- to 3-page paper (plus a cover page, according to APA standards) in which you do the following:
Generate a portrait of a consumer/customer for Walden Airlines. Is this your best customer or average customer? Share what she or he might look like.
List and describe this prospects preferences and how a marketer would utilize that informationperhaps better than they do today. For example, British Airways notes which magazines are selected by their first class passengers on previous flights and provides them at their seat for their next flight upon their arrival. By the way, British Airways reports that this actually saved them money by not stocking so many different periodicals.
Explain how you plan to differentiate or tailor your marketing strategies while still casting a wide and potentially profitable customer net. What are your big ideas?
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