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    Product Most People Can Buy Only Every Couple of Years?

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    Avijit Chakraborty
    Customer loyalty is important for companies like Audi that sell high-cost products that customers typically only purchase every few years. By achieving customer loyalty, Audi can gain repeated business from customers, greater annual sales volumes, and protection from competitors. The lifetime value of an Audi customer is estimated based on an example where a customer purchases one car every 5 years over a 10 car lifetime, spending $40,000 total. For Audi to build long-term loyalty, they should communicate effectively with customers, design tailored marketing plans, engage customers through experiences, understand their brand relationships, and make each customer feel special through individualized strategies.

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    Product Most People Can Buy Only Every Couple of Years?

    Uploaded by

    Avijit Chakraborty
    1K views2 pages
    Customer loyalty is important for companies like Audi that sell high-cost products that customers typically only purchase every few years. By achieving customer loyalty, Audi can gain repeated business from customers, greater annual sales volumes, and protection from competitors. The lifetime value of an Audi customer is estimated based on an example where a customer purchases one car every 5 years over a 10 car lifetime, spending $40,000 total. For Audi to build long-term loyalty, they should communicate effectively with customers, design tailored marketing plans, engage customers through experiences, understand their brand relationships, and make each customer feel special through individualized strategies.

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    Customer loyalty is important for companies like Audi that sell high-cost products that customers typically only purchase every few years. By achieving customer loyalty, Audi can gain repeated business from customers, greater annual sales volumes, and protection from competitors. The lifetime value of an Audi customer is estimated based on an example where a customer purchases one car every 5 years over a 10 car lifetime, spending $40,000 total. For Audi to build long-term loyalty, they should communicate effectively with customers, design tailored marketing plans, engage customers through experiences, understand their brand relationships, and make each customer feel special through individualized strategies.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    1K views2 pages

    Product Most People Can Buy Only Every Couple of Years?

    Uploaded by

    Avijit Chakraborty
    Customer loyalty is important for companies like Audi that sell high-cost products that customers typically only purchase every few years. By achieving customer loyalty, Audi can gain repeated business from customers, greater annual sales volumes, and protection from competitors. The lifetime value of an Audi customer is estimated based on an example where a customer purchases one car every 5 years over a 10 car lifetime, spending $40,000 total. For Audi to build long-term loyalty, they should communicate effectively with customers, design tailored marketing plans, engage customers through experiences, understand their brand relationships, and make each customer feel special through individualized strategies.

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    Marketing Excellence: Audi:

    Question 1: In your option how important is it to invest in customer loyalty for cars, a
    product most people can buy only every couple of years?
    Customer loyalty is one of the valuable marketing concept of the type of product a company is
    marketing. It is the result of customer satisfaction, positive experience and value of goods and
    service from a business. When a customer is loyal to a specific brand, they are not easily
    influenced by availability or pricing. They are willing to pay more as much as they get the same
    quality product or service they are familiar with and love. All businesses should stick to improve
    customer loyalty to keep clients purchasing and make them promote their brand to new
    audiences. From the traditional marketing concepts, business should focus on targeting new
    customers. In modern marketing strategy, business should focus on retaining the existing
    customers in addition to targeting the new ones. It is assumed that loyal customers can purchase
    the product again and again. But customer loyalty is challenged when it comes to the product
    which customers are likely to purchase again over a couple of years like Audi. So in my opinion,
    it is important for Audi to invest in customer loyalty.
    By achieving customer loyalty, Audi can get many return like
     Repetition of business with customers.
     Greater volume of annual sales.
     Creating protection from many competitors.

    Question 2: Try to estimate the lifetime value of an Audi customer


    The lifetime value of a customer indicates the total amount of money a customer is expected to
    spend in business or product in life time. We should easily realize the lifetime value of a
    customer by giving an example. Assuming that Audi profit per year is $4000. A customer can
    purchase a car every 5 years, so in his lifetime he purchases 10 cars. In that case, profit from
    customer will be $40000.

    Question 3: What measures should Audi take to build long term loyalty relationship?
    By taking these following steps, Audi can make long term customer loyalty.
     Audi have to build best communication mean with customer. Trying to follow each
    customer needs and expectation and making relevant promotion and communication with
    customer are needed in making long term relationship.
     Designing a comprehensive, specific marketing and communications plan for each of the
    customer profiles Audi have made.
     By designing a communications and marketing strategy to keep customers coming back
    again and again.
     Audi have to engage customers to make long term relationship.
     Allowing customers to experience brand is needed to make it happen.
     Understanding relationship with brand by customer is needed to be taken care of.
     Keeping the track of social media is also important for that.
     By creating specific marketing strategy for each customer, Audi have to make then
    believe they are special.

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