Why is it important for the marketer to distinguish between customer acquisition, conversion, and retention when developing marketing strategies?

Module 4 Assignment

After reading chapter 4 and viewing this week’s video lecture, respond to the following questions in accordance to the criteria below.

1.     Why is it important for the marketer to distinguish between customer acquisition, conversion, and retention when developing marketing strategies?

2.     In addition to the offer, what are the elements of a direct marketing strategy?

3.     How do direct marketers distinguish between the “front end” and the “back end” of a transaction? Why is this important?

4.     Explain the customer lifetime value (CLV) concept. Thinking about a specific firm, how could it use the concept of CLV to increase the overall profitability of its customer base?

The assignment will meet the APA 6th edition format criteria, write a minimum of 2 full pages, and follow the structure:

1. APA Title page

2. Body (do not write each question, use a heading then start the text after each heading)

3. Question 1 (Write a minimum of 150 words for this response)

4. Question 2 (Write a minimum of 150 words for this response)

5. Question 3 (Write a minimum of 150 words for this response)

6. Question 4 (Write a minimum of 150 words for this response)

7. References (make sure that each reference is cited in the text)