Sunday, January 10, 2010

The Customer Life Cycle (CLC) and Customer Relationship Management (CRM).

The Customer Life Cycle (CLC) has obvious similarities with the Product Life Cycle (PLC). However, CLC focuses upon the creation of and delivery of lifetime value to the customer i.e. looks at the products or services that customers NEED throughout their lives. It is marketing orientated rather than product orientated, and embodies the marketing concept. Essentially, CLC is a summary of the key stages in a customer's relationship with an organisation. The problem here is that every organisation's product offering is different, which makes it impossible to draw out a single Life Cycle that is the same for every organisation.

Reference: http://www.economist.com/

1 comments:

Syed Ahmad Hashmi said...

Both these aspects are of great importance for marketers because relating a customer life cycle stage to the required customer relations can prove to be resource saving altogether because we have limited resources. Moreover, Customer driven marketing stategy requires both these aspects as its tools.
Good Job.