[TYPE THE COMPANY NAME]
MNM3712 Assignment 1
(COMPLETE ANSWERS)
Semester 1 2025 - DUE 3
April 2025
NO PLAGIARISM
[Year]
[Type the company address]
, MNM3712 Assignment 1 (COMPLETE
ANSWERS) Semester 1 2025 - DUE 3 April
18:00PM 2025; 100%
Book
Customer Relationship Management
MNM3712 Assignment 1 (COMPLETE ANSWERS) Semester 1 2025 - DUE 3
April 18:00PM 2025; 100% correct solutions and explanations.
QUESTION 1 Refer to the 1st for Women case study in the case study book
and the profile of Ms Lebogang Mkhize on page 7 of this tutorial letter to
answer the question that follows. You can make your own assumptions based
on the 1st for Women case study, the South African insurance industry and
the customer profile of Ms Lebogang Mkhize when you answer the question.
Advise 1st for Women on two practical retention strategies it can use in each
stage of the relationship development ladder of loyalty to ensure that a
customer such as Ms Lebogang Mkhize remains with the company and
progresses to
To advise 1st for Women Insurance on retention strategies at different stages of the
relationship development ladder of loyalty, we first need to understand the stages of this ladder.
These stages generally include:
1. Awareness
2. Engagement
3. Conversion
4. Retention
5. Advocacy
Since you’re referring to Ms. Lebogang Mkhize’s profile, let’s assume she is a typical customer
that 1st for Women Insurance is trying to engage, and we will focus on practical strategies that
can be implemented at each stage of the relationship development ladder to retain her.
1. Awareness Stage
At this stage, the customer is becoming aware of the company’s existence, its offerings, and how
it can meet her needs.
Retention Strategies:
, Targeted Advertising & Social Media Engagement: Create personalized
advertisements (e.g., on social media platforms, radio, or TV) that highlight the
company's values, such as providing tailored insurance for women. Use Ms. Mkhize’s
profile and similar customer personas to tailor the messaging. For example, if she values
family or health, focus on how the product can protect her and her loved ones.
Referral Programs: Introduce referral programs where existing customers, like Ms.
Mkhize, can refer friends or family for rewards. This will increase brand awareness and
start building a relationship.
2. Engagement Stage
At this stage, Ms. Mkhize has shown interest and is engaging with the brand, perhaps by
researching or interacting with content like blogs, webinars, or insurance policy details.
Retention Strategies:
Personalized Communication: Send Ms. Mkhize personalized content, such as
information about the insurance products she is most interested in. A mix of emails or
messages about new product features, updates, or tips that resonate with her values (e.g.,
financial independence, security) will keep her engaged.
Customer Education: Offer webinars, online tools, or one-on-one consultations where
customers can learn more about the products and services in-depth. Ms. Mkhize may
value the knowledge and experience shared during these interactions.
3. Conversion Stage
This is where the customer decides to make the purchase or choose the service, i.e., converting
interest into a formal relationship by buying an insurance product.
Retention Strategies:
Onboarding Experience: Ensure a smooth, personalized onboarding process. This
includes welcoming Ms. Mkhize with a tailored welcome pack or a call to guide her
through the specifics of her new policy, addressing any concerns or questions she may
have.
First-Policy Discounts or Benefits: Offer Ms. Mkhize a special discount or added
benefit for her first year of insurance or policy renewal. This creates an emotional tie and
strengthens her decision to stay with the company.
4. Retention Stage
At this stage, the focus is on keeping the customer satisfied and loyal to the brand by providing
excellent customer service and ongoing value.
Retention Strategies:
MNM3712 Assignment 1
(COMPLETE ANSWERS)
Semester 1 2025 - DUE 3
April 2025
NO PLAGIARISM
[Year]
[Type the company address]
, MNM3712 Assignment 1 (COMPLETE
ANSWERS) Semester 1 2025 - DUE 3 April
18:00PM 2025; 100%
Book
Customer Relationship Management
MNM3712 Assignment 1 (COMPLETE ANSWERS) Semester 1 2025 - DUE 3
April 18:00PM 2025; 100% correct solutions and explanations.
QUESTION 1 Refer to the 1st for Women case study in the case study book
and the profile of Ms Lebogang Mkhize on page 7 of this tutorial letter to
answer the question that follows. You can make your own assumptions based
on the 1st for Women case study, the South African insurance industry and
the customer profile of Ms Lebogang Mkhize when you answer the question.
Advise 1st for Women on two practical retention strategies it can use in each
stage of the relationship development ladder of loyalty to ensure that a
customer such as Ms Lebogang Mkhize remains with the company and
progresses to
To advise 1st for Women Insurance on retention strategies at different stages of the
relationship development ladder of loyalty, we first need to understand the stages of this ladder.
These stages generally include:
1. Awareness
2. Engagement
3. Conversion
4. Retention
5. Advocacy
Since you’re referring to Ms. Lebogang Mkhize’s profile, let’s assume she is a typical customer
that 1st for Women Insurance is trying to engage, and we will focus on practical strategies that
can be implemented at each stage of the relationship development ladder to retain her.
1. Awareness Stage
At this stage, the customer is becoming aware of the company’s existence, its offerings, and how
it can meet her needs.
Retention Strategies:
, Targeted Advertising & Social Media Engagement: Create personalized
advertisements (e.g., on social media platforms, radio, or TV) that highlight the
company's values, such as providing tailored insurance for women. Use Ms. Mkhize’s
profile and similar customer personas to tailor the messaging. For example, if she values
family or health, focus on how the product can protect her and her loved ones.
Referral Programs: Introduce referral programs where existing customers, like Ms.
Mkhize, can refer friends or family for rewards. This will increase brand awareness and
start building a relationship.
2. Engagement Stage
At this stage, Ms. Mkhize has shown interest and is engaging with the brand, perhaps by
researching or interacting with content like blogs, webinars, or insurance policy details.
Retention Strategies:
Personalized Communication: Send Ms. Mkhize personalized content, such as
information about the insurance products she is most interested in. A mix of emails or
messages about new product features, updates, or tips that resonate with her values (e.g.,
financial independence, security) will keep her engaged.
Customer Education: Offer webinars, online tools, or one-on-one consultations where
customers can learn more about the products and services in-depth. Ms. Mkhize may
value the knowledge and experience shared during these interactions.
3. Conversion Stage
This is where the customer decides to make the purchase or choose the service, i.e., converting
interest into a formal relationship by buying an insurance product.
Retention Strategies:
Onboarding Experience: Ensure a smooth, personalized onboarding process. This
includes welcoming Ms. Mkhize with a tailored welcome pack or a call to guide her
through the specifics of her new policy, addressing any concerns or questions she may
have.
First-Policy Discounts or Benefits: Offer Ms. Mkhize a special discount or added
benefit for her first year of insurance or policy renewal. This creates an emotional tie and
strengthens her decision to stay with the company.
4. Retention Stage
At this stage, the focus is on keeping the customer satisfied and loyal to the brand by providing
excellent customer service and ongoing value.
Retention Strategies:
