Embedded Files
Mentor: Marco Macoratti, Head of Sustainable Business Solutions at Mondi Group, Vienna
Description: This Virtual Global Experience focusses on the concept of Customer Lifetime Value (CLV). Customers’ purchasing behaviors are described by their industry, the supply market, its own size of business, share in supplier’s business, and decision making profiles. Due to the multi-dimensional aspects of a customer relationship, it is challenging to evaluate what really drives value to the business: the product, the service, the relationship, the context, or the people. CRMs are indeed designed to collect data to validate the strength of independent variables (qualitative and quantitative) to dependent variables (business value).
The mentor will provide a short list of relevant literature and hold meetings to help participants obtain foundational information on CLV in the beginning stages of the project. Participants will then be asked to examine the application (and implications) of CLV in business operations in a B2B environment with a customer-focussed mindset. This work will be done by creating an Excel model with the mentor, which will allow participants to simulate a data set and validate the model. The project concludes with a group presentation on the model and a report, which explains how the following central questions were answered throughout the course of the virtual internship:
What CLV would best describe the journey from small customer, to key account, and ultilimately a partnership?
What independent variables will be critical for designing a pragmatic excel-based CRM for managing CLV?
What analysis needs to be considered to validate the strength of causal customer relationships?
Google Sites
Report abuse