What recommendations would you make to increase the customer lifetime value of a Black & Decker customer?

The Black & Decker GyroTM (http://www.blackanddecker.com/gyro) recently won a Bronze Edison Award in the Household category. Briefly, the Edison Awards, voted on by more than 3,000 senior business executives and academics, recognize and honor the year’s best innovations in the spirit of Thomas Edison.

Customer Orientation (10 points)

1. The Black & Decker GyroTM provides a different customer experience than the traditional
screwdriver and power screwdriver. Using a customer journey map, discuss whether the customer experience of the GyroTM is evidence of a customer orientation.

1. What recommendations would you make to increase the customer lifetime value of a Black & Decker customer?

Product (7.5 points)

1. Analyze the positioning of the Black & Decker GyroTM. What recommendations would you provide to differentiate the product from the other power screwdriver offerings of Black & Decker?

Price (7.5 points)

1. Analyze the pricing strategy of the Black & Decker GyroTM. Justify your recommendations in view of the pricing implications of the product life cycle and price elasticity.

Place (7.5 points)

1. Discuss the channel strategy of Black & Decker in terms of customer reach, operating efficiency, and service quality.

Promotion (7.5 points)

1. Stanley Black & Decker, the parent company of Black & Decker, engages in two brand programs, partnerships with the English Premier League and This Old House, that specifically feature Black & Decker. Compare and contrast these two brand programs in terms of creating brand awareness and brand associations.

Strategy (10 points)

1. Stanley Black & Decker currently holds a market share of approximately forty percent in the US market with their portfolio of brands. In 2012, approximately half of Stanley
Black & Decker’s $10.2 billion in revenue came from the construction and do it yourself (CDIY) market segment. Further, forty-eight percent of Stanley Black & Decker’s CDIY revenue came from outside the US (Europe – 19%, Canada, Australia, and Japan – 10%, and emerging markets – 19%). Recent forecasts expect the global power tools market to grow at a compound annual growth rate of approximately fifteen percent from 2014-2019. In particular, analysts forecast demand in the US and emerging markets to see the highest growth. Competition for this growth, however, is also expected to increase as Chinese brands, such as Positec (sold in the US under the brand name WORX), are entering the global marketplace.
Given the current situation, identify and justify the strategic direction(s) (offensive, defensive, or combination) you would recommend Stanley Black & Decker follow for the next five years.

Words length should be around 3000

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