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Customer Value Model
Within customer relationship management, a customer value model (CVM) is a data-driven representation of the worth, in monetary terms, of what a company is doing or could do for its customers.Siphamandla Ernest nhlebela:Using Customer Value Models to Improve B2B New Product Development, Siphamandla Ernest nhlebela,0637867845 Customer value models are tools used primarily in B2B markets where the choice of a given product, service, or offering is based primarily upon the amount customer value created. Customer value is defined as Value = Benefits - Price. Thus, customer benefits are quantified in a CVM - product features and capabilities are translated into dollars. Customer value models are different from customer lifetime value models, which seek to quantify the value of a customer to its suppliers. Firms using customer value models Many firms have been reported to use customer value models, including General Electric, Alcoa, W.W. Grainger, Qualcomm, Sonoco, BT Industries Group, R ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customer Relationship Management
Customer relationship management (CRM) is a process in which a business or other organization administers its interactions with customers, typically using data analysis to study large amounts of information. CRM systems compile data from a range of different communication channels, including a company's website, telephone, email, live chat, marketing materials and more recently, social media. They allow businesses to learn more about their target audiences and how to best cater for their needs, thus retaining customers and driving sales growth. CRM may be used with past, present or potential customers. The concepts, procedures, and rules that a corporation follows when communicating with its consumers are referred to as CRM. This complete connection covers direct contact with customers, such as sales and service-related operations, forecasting, and the analysis of consumer patterns and behaviors, from the perspective of the company. According to Gartner, the global CRM market ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customer Lifetime Value
In marketing, customer lifetime value (CLV or often CLTV), lifetime customer value (LCV), or life-time value (LTV) is a prognostication of the net profit contributed to the whole future relationship with a customer. The prediction model can have varying levels of sophistication and accuracy, ranging from a crude heuristic to the use of complex predictive analytics techniques. Customer lifetime value can also be defined as the monetary value of a customer relationship, based on the present value of the projected future cash flows from the customer relationship. Customer lifetime value is an important concept in that it encourages firms to shift their focus from quarterly profits to the long-term health of their customer relationships. Customer lifetime value is an important metric because it represents an upper limit on spending to acquire new customers.Farris, Paul W.; Neil T. Bendle; Phillip E. Pfeifer; David J. Reibstein (2010). ''Marketing Metrics: The Definitive Guide to M ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Harvard Business Review
''Harvard Business Review'' (''HBR'') is a general management magazine published by Harvard Business Publishing, a wholly owned subsidiary of Harvard University. ''HBR'' is published six times a year and is headquartered in Brighton, Massachusetts. ''HBR'' covers a wide range of topics that are relevant to various industries, management functions, and geographic locations. These include leadership, negotiation, strategy, operations, marketing, and finance. ''Harvard Business Review'' has published articles by Clayton Christensen, Peter F. Drucker, Michael E. Porter, Rosabeth Moss Kanter, John Hagel III, Thomas H. Davenport, Gary Hamel, C. K. Prahalad, Vijay Govindarajan, Robert S. Kaplan, Rita Gunther McGrath and others. Several management concepts and business terms were first given prominence in ''HBR''. ''Harvard Business Review''s worldwide English-language circulation is 250,000. HBR licenses its content for publication in thirteen languages besides English. Ba ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
General Electric
General Electric Company (GE) is an American multinational conglomerate founded in 1892, and incorporated in New York state and headquartered in Boston. The company operated in sectors including healthcare, aviation, power, renewable energy, digital industry, additive manufacturing and venture capital and finance, but has since divested from several areas, now primarily consisting of the first four segments. In 2020, GE ranked among the Fortune 500 as the 33rd largest firm in the United States by gross revenue. In 2011, GE ranked among the Fortune 20 as the 14th most profitable company, but later very severely underperformed the market (by about 75%) as its profitability collapsed. Two employees of GE – Irving Langmuir (1932) and Ivar Giaever (1973) – have been awarded the Nobel Prize. On November 9, 2021, the company announced it would divide itself into three investment-grade public companies. On July 18, 2022, GE unveiled the brand names of the companies it will ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alcoa
Alcoa Corporation (an acronym for Aluminum Company of America) is a Pittsburgh-based industrial corporation. It is the world's eighth-largest producer of aluminum. Alcoa conducts operations in 10 countries. Alcoa is a major producer of primary aluminum, fabricated aluminum, and alumina combined, through its active and growing participation in all major aspects of the industry: technology, mining, refining, smelting, fabricating, and recycling. In May 2007, Alcoa Inc. made a US$27 billion hostile takeover bid for Alcan in an attempt to form the world's largest aluminum producer. The bid was withdrawn when Alcan announced a friendly takeover by Rio Tinto in July 2007. On November 1, 2016, Alcoa Inc. split into two entities: a new one called Alcoa Corporation, which is engaged in the mining and manufacture of raw aluminum, and the renaming of Alcoa Inc. to Arconic Inc., which processes aluminum and other metals. After relocating its corporate operations to New York City in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Qualcomm
Qualcomm () is an American multinational corporation headquartered in San Diego, California, and incorporated in Delaware. It creates semiconductors, software, and services related to wireless technology. It owns patents critical to the 5G, 4G, CDMA2000, TD-SCDMA and WCDMA mobile communications standards. Qualcomm was established in 1985 by Irwin M. Jacobs and six other co-founders. Its early research into CDMA wireless cell phone technology was funded by selling a two-way mobile digital satellite communications system known as Omnitracs. After a heated debate in the wireless industry, the 2G standard was adopted with Qualcomm's CDMA patents incorporated. Afterwards there was a series of legal disputes about pricing for licensing patents required by the standard. Over the years, Qualcomm has expanded into selling semiconductor products in a predominantly fabless manufacturing model. It also developed semiconductor components or software for vehicles, watches, laptops, wi- ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sonoco
Founded in 1899, Sonoco Products Company () is a United States-based international provider of diversified consumer packaging, industrial products, protective packaging, and packaging supply chain services and the world's largest producer of composite cans, tubes, and cores. With annualized net sales of approximately $4.9 billion, Sonoco has 19,900 employees in more than 335 operations in 33 countries, serving more than 85 nations. The company is headquartered in Hartsville, South Carolina, and is South Carolina's largest corporation in terms of sales. Sonoco is a member of the New York Stock Exchange Century Index and the S&P 400. Operations Sonoco is the world's largest producer of tubes, cores, and fiber concrete columns under the brand name Sonotube concrete forms and a leading manufacturer of blow-molded plastic containers, consumer and industrial thermoformed plastic packaging, engineered molded and extruded plastic products, rigid paperboard containers, and convenience ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rockwell Automation
Rockwell Automation, Inc. is an American provider of industrial automation whose brands include Allen-Bradley, FactoryTalk software and LifecycleIQ Services. Headquartered in Milwaukee, Wisconsin, Rockwell Automation employs approximately 26,000 people and has customers in more than 100 countries worldwide. The Fortune 500, ''Fortune'' 500 company reported fiscal year 2021 global sales at $7.8 billion. History Early years Rockwell Automation traces its origins to 1903 and the formation of the Compression Rheostat Company, founded by Lynde Bradley and Dr. Stanton Allen with an initial investment of $1000. In 1904, 19-year-old Harry Lynde Bradley, Harry Bradley joined his brother in the business. The company's first patented product was a carbon disc compression-type motor controller for industrial cranes. The crane controller was demonstrated at the St. Louis World's Fair in 1904. In 1909, the company was renamed the Allen-Bradley Company. Allen-Bradley expanded rapidly ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Akzo Nobel
Akzo Nobel N.V., stylized as AkzoNobel, is a Dutch multinational company which creates paints and performance coatings for both industry and consumers worldwide. Headquartered in Amsterdam, the company has activities in more than 80 countries, and employs over 32,000 people. Sales in 2020 were €8.5 billion. History AkzoNobel has a long history of mergers and divestments. Parts of the current company can be traced back to 17th-century companies. The milestone mergers and divestments are the formation of AKZO in 1969, the merger with Nobel Industries in 1994 forming Akzo Nobel, and the divestment of its pharmaceutical business and the merger with ICI in 2007/2008 resulting in current-day AkzoNobel. History and formation of Akzo Akzo was formed in 1969 as merger of Algemene Kunstzijde Unie (AKU) and Koninklijke Zout Organon (KZO). The AKU was formed in 1929 when the Vereinigte Glanzstoff Fabrike (est. 1899) and Nederlandse Kunstzijdefabriek (ENKA, est. 1911) merged, forming A ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
