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Optimal Marketing Spending Using CP, CLV and ROMI Metrics

Customer profit (CP), customer lifetime value (CLV), and return on marketing investment (ROMI) are important marketing measures that can be cascaded together and used by marketers to optimize marketing spending, reduce spending waste, and improve marketing effectiveness. CP focuses on identifying, sorting, and selecting those individual customers or a group of customers that generate profit […]

Importance of Strategic Management to Small and Medium-Sized Enterprises

Strategic management has long been used successfully by large organizations to manage uncertainties and for better positioning to generate long-term growth and profitability. Due to the current and predicted environmental uncertainties, the practice of strategic management will become a need for small and medium-sized enterprises (SMEs) to keep them in equilibrium with their external environments […]