Customer Relationship Marketing Essay Assignment
Individual Assignment 2 Scenario: Best Buy
As a team leader of a consulting company, John Landers is in deep thought wondering how to
develop a presentation to the client firm, the Best Buy next month. (Please read the Case 4-1: Best Buy
of the textbook). Last few years, market condition deteriorated dramatically with increased online
competition and reduced customer spending. The tough business conditions and slow economic
recovery drive many corporations into more intense customer relationship marketing programs. In
addition, increased use of online and mobile shopping and e-purchase can threaten the growth and
survival of the physical retail chains. John needs to collect any relevant information and document all
these new developments in his report. Based on the assessment, John should develop alternative value
based market segments, segment profiling, and relationship marketing options for the client firm.
In his presentation, John thinks that he needs to perform the client firm’s life time value analysis and
customer portfolio analysis. John believes that he needs to answer the following questions for his client
- What specific factors should Best Buy include in calculating its customers’ lifetime value?
Calculate the lifetime value of typical customers and identify value based segments for Best Buy.
Choose 2-3 value based segments and describe their typical customer profiles.
- What is the impact of Best Buy’s new customer strategy on its customer portfolio? What
recommendations would you offer to Best Buy in managing its customer portfolio?
- Write a 2-3 page report. Please refer to the ‘relationship marketing templates’ including the excel
table in the textbook. Make any needed assumptions and use your best estimates in calculating
the lifetime value. You may include the excel table as an appendix in your report.
- Open the ExpiredLetter-01.docx start file. If the document opens in Protected View, click the Enable Editing button so you can modify it.
- The file will be renamed automatically to include your name. Change the project file name if directed to do so by your instructor, and save it.
- Apply the following formatting changes to the entire document:
- Select the entire document.
- Change the Before and After paragraph spacing to 0 pt.
- Change the line spacing to Single.
- Change the paragraph alignment to Left.
- Change the font and font size to Calibri and 11 pt.
- Turn on Show/Hide and press Enter at the end of each paragraph to add a blank line after each paragraph (including the last paragraph).
- Type and format the opening lines of the business letter.
- Press Ctrl+Home or move your insertion point to the top of the document.
- Type the current date (use January 1, 2020 format) and press Enter four times.
- Type the following inside address and press Enter two times after the last line: Mr. Rick Hermann 9035 Masi Drive Fair Oaks, CA 95528
- Type Dear Mr. Hermann: as the salutation and press Enter two times after the salutation. One blank line displays between the salutation and the body of the letter.
- Add 72 pt. Before paragraph spacing to the date line.
- Type the closing lines of the business letter.
- Place your insertion point on the blank line below the last body paragraph and press Enter.
- Type Best regards, and press Enter four times.
- Type the following closing lines: Emma Cavalli Realtor Consultant Placer Hills Real Estate
- Press Enter two times after the company name and type your reference initials in lowercase letters.
- Move a paragraph and sentence.
- Move the third body paragraph so it appears before the second body paragraph. Confirm one blank line displays between each of the body paragraphs. If a blank space displays in front of the first word in the third paragraph, delete it.
- Move the last two sentences in the new second body paragraph (“A lot of detail . . .”) to the beginning of the paragraph. Verify proper spacing displays between sentences.
- Apply formatting to text in the business letter.
- Select “Placer Hills Real Estate” in the first body paragraph and apply Bold and Small caps formatting.
- Select the first sentence in the third paragraph including the period (“The service and experience . . .”) and apply Italic formatting.
- Select the writer’s name at the bottom and apply Small caps formatting.
- Select the writer’s title and apply Italic formatting.
- Select the company name below the writer’s title and apply Bold formatting.
- Use Smart Lookup to research selected words.
- Select “Fair Oaks” in the first body paragraph.
- Click the Smart Lookup button [References tab, Research group]. The Search pane opens on the right.
- Review the research results in the Search pane.
- Click the X in the upper-right corner of the Search pane to close the pane. IMPORTANT: If this is the first time you have opened Smart Lookup, you will need Turn on intelligent services to let Office get web results for your highlighted text, and then continue to the next step. If you cannot turn on the services, skip the rest of this step and continue to step 10.
- Use the Read Aloud feature [Review tab, Speech group] to read the first two body paragraphs.
- Add the following document properties:
- Title: Expired Letter
- Company: Placer Hills Real Estate
- Manager: Kelsey Kroll
- Author: Emma Cavalli (right-click and choose Remove Person to remove existing author)
- Spell and grammar check the entire document, apply changes where necessary, and ignore proper nouns.
- Save and close the document (Figure 1-102).Word 1-4 completedFigure 1-102 Word 1-4 completed
- Upload and save your project file.
- Submit project for grading.