A brand’s ability to measure consumer attitudes provides a very helpful insight into what is driving consumer behavior. Generally a consumer’s attitude towards the various brands in the marketplace has a significant influence over their purchase and … Read more...
Firms will often have the goal of increasing market share. Increased market share is primarily delivered through winning a greater proportion of the market’s business. In particular, one or more of the following situations must occur for a firm/brand to … Read more...
Market share can be decomposed into three components, namely:
The following video explains how these three components work together to calculate overall market share.
In addition to measuring brand awareness, firms will often look to measure advertising awareness through a similar/same survey of the target market. This would be an extension of the questionnaire discussed in the article on brand … Read more...
Brand awareness is fundamental to success in the marketplace; if consumers are unaware of the brand they are unlikely to become customers. This is why the first goal in a marketing communications … Read more...
There are numerous hierarchy of effects models that are covered in marketing literature. Probably the most common one was developed in 1961 and is a six stage model … Read more...
Relative market share is a marketing metric used to compare the firm’s market share to the largest competitor in the market. When calculating relative market share, the market leader’s market share is used as the … Read more...
For those people familiar with the BCG matrix, you should recall that the horizontal axis measures relative market share.
This is the more important of the two dimensions. A high or low relative … Read more...
The following free online CLV calculator is ideal for quick calculations of customer lifetime value. If you need a more detailed calculation of customer lifetime value, please download the free Excel template for calculating customer lifetime … Read more...
You only need to enter four numbers – please only type over the numbers in the white cells – the numbers in the orange cells are automatically calculated for you.
To calculate the … Read more...
There are five CLV videos available here:
Discount rate converts future cash flows (that is revenue/profits) into today’s money for the firm. For example, if you put $100 into a bank account today that have 10% interest, then in 12 months’ … Read more...
The full customer lifetime value calculator and the free Excel CLV template both provide a summary outcome for several related financial metrics. Please refer to the image below of the full CLV … Read more...
Let’s look at the main CLV formula is two ways – the first way in words and then as a CLV equation (see separate article on another one of my websites). As you will see, the main customer lifetime value … Read more...
Customer lifetime value has three main components:
The final component in the customer … Read more...
Customer lifetime value has three main components:
The main component of the customer lifetime … Read more...
The calculation for customer lifetime value has three main components:
This is the amount of money it … Read more...
Marketing strategy is designed to deliver short-term financial and marketing goals and to build and strengthen the firm’s competitive advantages over time. A firm that has significant competitive advantages will enjoy greater profitability and stability of performance.
A key aspect in the customer lifetime value (CLV) calculation is time spent as a customer – commonly referred to as the customer’s lifetime. When we refer to the customer’s lifetime in a marketing context, we are considering the … Read more...
This website has a free Excel spreadsheet template that can enable to quickly calculate customer lifetime value for your university assignment or for your firm. Go here to download the customer lifetime value template.
There are also step … Read more...
