Week 2 Writing AssignmentCustomer Satisfaction, Loyalty, Management and Empowermentâ??Apple Watchâ?
Week 2 Writing AssignmentCustomer Satisfaction, Loyalty, Management and Empowerment“Apple Watchâ€Learning Outcomes1. Customer empowerment. Student can identify how their chosen product “AppleWatch†or service offering uses social networks to communicate and empower customersto be part of the marketing process.2. Customer satisfaction. Student can identify how customers communicate theirsatisfaction or dissatisfaction with the chosen product or service offering.3. Customer Relationship Management. Student can explain customer lifetime value andhow a customer relationship management program can have a role in attracting andretaining most valuable customers.4. Customer privacy. Student can identify the product or service offerings privacy policyand analyze its effectiveness in protecting their customer’s information.DirectionsRefer to the product or service you selected last week “Apple Watchâ€. This week youwant to take a closer look at the company’s website to identify how that companyinteracts with its customers. If they have Facebook pages or other social media, checkthem out as well and add that information to your research data.You may want to find a Most Valuable Customer of the product or service if you are notone yourself, or alternatively think like an MVC. What is the evidence of an MVC ofyour product or service. It isn’t just that the customer regularly buys the product orservice. It means that the customer is treated differently — better — than other customers.It means that the MVC represents about 20% of the company’s revenues. These are thecustomers with whom the company regularly communicates, offers special deals, andother ways as outlined in the text and as you can find with just a little bit of googling onthe internet.You may want to calculate the lifetime value of a most valuable customer. See thediscussion of the lifetime value calculation in the week’s reading, and calculate the LTVusing this simple equation: LTV = (Price – cost to produce the product) * number ofannual purchases * number of years expected to purchase – initial acquisition costs. Forsimplicity sake, you can assume your customer will have a relationship with you for tenyears and you can make an educated guess as to how much the initial acquisition costswere to get him as a customer in terms of advertising or other types of promotionefforts. If you are not an MVC yourself, make and share your assumptions about yourcalculation. If you are not an MVC, you might want to find someone who is and ask themwhy they are loyal to the product or service and what they feel the company does forthem that is special that they don’t do for other customers.You may need call or visit a store to take a look at your product or service if the websitedoes not provide you everything you need to evaluate the company’s product or serviceprivacy policy. Usually the privacy policy is available on the website.Prepare your assignment beginning with a title page with your name and product orservice. Then answer the following four questions in order and number the beginning ofyour response to each question.1. Customer Empowerment. How does your product or service offering empowerits customers as discussed in the course readings this week? In other word, howare customers part of the marketing for the company? Identify the feedbackvehicles they may use, especially social media. Do the social media efforts seemto be creating buzz marketing? If not, what could they do to generate more‘buzz’?2. Customer satisfaction. How does your product or service offering communicateways for customers to express their dissatisfaction and if possible, outline whatremedies the product or service may be taking to ensure satisfaction.3. Customer Relationship Management. Does it appear that your product has acustomer relationship management strategy? In other words, do they treat the toptier of customers differently than other customers? If so, what is your evidence?If not, should they have a CRM strategy? Or, are there compelling reasons whyyour product or service should treat all customers the same? Refer to coursecontent concepts in your response.4. Customer privacy. Review your product or service offering’s privacy policy(usually published on its website). Analyze whether you think they do enough toprotect the customer’s privacy or what steps you might suggest they take toprotect customer’s privacy. Refer to the privacy policies or the information onwarranties and guarantees. The company’s customer support page might also beuseful. Do they publish a remedy should the customer’s privacy be breached?Should they?Be sure to follow all of the submission requirements outlined in the syllabus and provided belowagain for your easy reference:• Prepare as a word processed document (such as Microsoft Word).• Your assignment should be the equivalent of two pages of double-spaced text,approximately 1/2 page for each of the four questions.• Be sure your name, writing assignment number, and the name of your product or serviceare on the first page of your writing assignment.• Use a simple 12-point font such as Times New Roman. Use black ink for majority of yourwork and only use colors if it enhances your ability to communicate your thoughts.• If the writing assignment requires external research, be sure to use footnotes and includea bibliography. You may use APA style.
