MKT 300 Lecture Notes - Lecture 1: Structure Mining, Pivot Table, New Product Development

• School: Ryerson University
• Department: Marketing
• Course: MKT 300
• Professor: Marla Spergel

Document Summary

E(cid:454)pe(cid:374)ses: capital (cid:272)osts for data(cid:271)ase i(cid:373)ple(cid:373)e(cid:374)tatio(cid:374, operati(cid:374)g (cid:272)osts for e(cid:373)plo(cid:455)ees, data(cid:271)ase a(cid:374)al(cid:455)sts ear(cid:374) ,000- ,000: e(cid:449)ard fulfill(cid:373)e(cid:374)t (cid:272)osts, y (cid:272)e(cid:374)ts per (cid:373)ile redee(cid:373)ed, u(cid:373)(cid:373)ar(cid:455) (cid:272)osts. Loyalty program goals: goals: lower costs, increase revenue, improve performance. Customer with high customer value provided higher levels of service, better pricing. Lift, shift & retain: lift: lo(cid:455)alt(cid:455) progra(cid:373)s help (cid:858)lift(cid:859) or ele(cid:448)ate spe(cid:374)di(cid:374)g per tra(cid:374)sa(cid:272)tio(cid:374, get current customers to spend more and more often, cross sell others services: e. g. , banks cross sell insurance, gic, mortgages, credit facilities, improve margins. Basic loyalty metrics: participation rate: the number of customers registered for the loyalty program as compared to those who do not participate. Participation rate (%) = # registered loyalty members / total # of. Customers: tenure: length of time the customer has been a member of the program, activity rate: an evaluation of the number of registered customers who are (cid:272)olle(cid:272)ti(cid:374)g a(cid:374)d/or redee(cid:373)i(cid:374)g poi(cid:374)ts (usuall(cid:455) defi(cid:374)e (cid:858)a(cid:272)ti(cid:448)it(cid:455)(cid:859) for a specified period)