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Educating the world for a better change
,Elite Academic Institute 084 62 44 729
WARNING: PLEASE NOTE THAT PLAGIARISM IS A SERIOUS ACADEMIC
OFFENSE, therefore, the documents provided here including past assignments, tests
and notes are intended SOLELY for educational purposes and as a guide to help
students understand academic concepts and improve their writing skills. These
materials should not be submitted as final work, as doing so may constitute academic
dishonesty. Students are encouraged to use them as reference points, develop their
own understanding and produce original work that reflects their knowledge and critical
thinking. Students are also encouraged to regenerate their own (personalized)
solutions paying particular attention to module contents as prescribed by module
facilitators, lecturers and supervisors. If this document is plagiarized by the users and
fails, ELITE ACADEMIC INSTITUTE should not be rendered accountable since the
contents in this document only give learners a kick-start on what is expected of them
from their areas of specialty.
CAUTION: STUDENTS ARE NOT MANDATED TO USE ALL THE INFORMATION IN
THIS DOCUMENT IN WRITING THEIR ASSIGNMENTS
Educating the world for a better change
, Elite Academic Institute 084 62 44 729
Start here
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 the next stage of the
relationship. (2 marks per stage of the relationship ladder of loyalty) [12]
Based on the 1st for Women case study excerpt1 and general principles of relationship
marketing and CRM within the South African insurance industry, here is advice on two
practical retention strategies for each stage of the relationship development ladder of
loyalty to ensure a customer such as Ms. Lebogang Mkhize remains with the company
and progresses:
Assumptions (due to lack of specific details on Ms. Lebogang Mkhize's profile)
We will assume Ms. Mkhize is a typical insurance consumer in South Africa who values
reliable service, competitive pricing, and a sense of being understood and valued by
her insurance provider.
Stages of the Relationship Development Ladder of Loyalty & Retention
Strategies
Stage 1: Suspect (Potential customers who might fit 1st for Women's target
market)
Strategy 1: Targeted Awareness Campaigns Implement marketing campaigns
(like Investec Private Banking's #MoreThanData campaign2 which focuses on
individual needs) that highlight 1st for Women's unique selling propositions, such as
their focus on women's specific needs and their commitment to understanding
Educating the world for a better change
Ac sti
te
tu
Eli
te
he
de
W
re a
G ra eM
d u a t e s Ar
Educating the world for a better change
,Elite Academic Institute 084 62 44 729
WARNING: PLEASE NOTE THAT PLAGIARISM IS A SERIOUS ACADEMIC
OFFENSE, therefore, the documents provided here including past assignments, tests
and notes are intended SOLELY for educational purposes and as a guide to help
students understand academic concepts and improve their writing skills. These
materials should not be submitted as final work, as doing so may constitute academic
dishonesty. Students are encouraged to use them as reference points, develop their
own understanding and produce original work that reflects their knowledge and critical
thinking. Students are also encouraged to regenerate their own (personalized)
solutions paying particular attention to module contents as prescribed by module
facilitators, lecturers and supervisors. If this document is plagiarized by the users and
fails, ELITE ACADEMIC INSTITUTE should not be rendered accountable since the
contents in this document only give learners a kick-start on what is expected of them
from their areas of specialty.
CAUTION: STUDENTS ARE NOT MANDATED TO USE ALL THE INFORMATION IN
THIS DOCUMENT IN WRITING THEIR ASSIGNMENTS
Educating the world for a better change
, Elite Academic Institute 084 62 44 729
Start here
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 the next stage of the
relationship. (2 marks per stage of the relationship ladder of loyalty) [12]
Based on the 1st for Women case study excerpt1 and general principles of relationship
marketing and CRM within the South African insurance industry, here is advice on two
practical retention strategies for each stage of the relationship development ladder of
loyalty to ensure a customer such as Ms. Lebogang Mkhize remains with the company
and progresses:
Assumptions (due to lack of specific details on Ms. Lebogang Mkhize's profile)
We will assume Ms. Mkhize is a typical insurance consumer in South Africa who values
reliable service, competitive pricing, and a sense of being understood and valued by
her insurance provider.
Stages of the Relationship Development Ladder of Loyalty & Retention
Strategies
Stage 1: Suspect (Potential customers who might fit 1st for Women's target
market)
Strategy 1: Targeted Awareness Campaigns Implement marketing campaigns
(like Investec Private Banking's #MoreThanData campaign2 which focuses on
individual needs) that highlight 1st for Women's unique selling propositions, such as
their focus on women's specific needs and their commitment to understanding
Educating the world for a better change
