The Programs

Title: Creating Competitive Advantages for Hospitality Businesses: Adopting Customer Lifetime Value Strategy
(formerly Customer Equity: Understanding and Managing your Customer Value)

Singapore (July 23-25, 2009)
Course Cost US$2,500 CLOSED

Course Focus:

If there is one clear trend today in the hospitality industry that is the need to adopt a Customer-Centered perspective when managing the business, and the main implication of this is the need to incorporate real measures of Customer Profitability like the Customer Lifetime Value.

In the hospitality industry most executives today agree that their efforts should be focused on growing the lifetime value of their customers. Yet, few hospitality companies really understand the concept and have come to terms with the implications of that idea for their company strategy

The objective of the course is to introduce the central concepts involved in determining Customer Lifetime Value, with detailed analysis and examples of the analytic tools necessary for calculating customer acquisition costs and customer retention costs. Implications for marketing strategy and customer relationship management will be discussed.

The participants would move from the traditional services marketing concept of customer satisfaction and customer relationship management, to a new perspective on how to manage their business from a customer profitability viewpoint and how to create competitive advantages by incorporating the Customer Lifetime Value concept into their management tools.

Key Benefits:

Using a combination of lectures, exercises, and case studies, participants would gain a deeper understanding of how to calculate and manage Customer Lifetime Value and would develop a personal agenda for maximizing their hospitality business Customer Profitability and Lifetime Value.

Topics Include:

• Understanding how the customer evolves over time: prospects, first-time buyers, early repeat customers, core customers and defectors.

• The business lifetime cycle: from customer attraction, to retention, to recovery.

• Understanding the concept of Customer Lifetime Value and its implications for a hospitality company.

• Analyzing, and calculating Customer Lifetime Value in different hospitality businesses.

• Customer Lifetime Value and the Marketing Paradigm: Satisfaction – Loyalty - Profitability. Where should I put my marketing resources?

• Creating a Customer-Centered organization by adopting Customer Lifetime Value measures.

• Gaining a competitive advantage by focusing your business in managing Customer Profitability and Customer Lifetime Value.

Faculty

• Ramon Diaz-Bernardo, Ph.D., Professor of Marketing: Singapore, (July 23 - 25, 2009)

Level 

View Course Schedules by Location

PDP Schedule for Singapore July 2009

PDP Schedule for Brussels, Belgium*

PDP Schedule for Ithaca, New York*

*You will be re-directed to the School of Hotel Administration website of Cornell University