阿金森管理会计 6e ch06Solutionmanual.docx
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阿金森管理会计 6e ch06Solutionmanual.docx
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阿金森管理会计6ech06Solutionmanual
Chapter6
MeasuringandManagingCustomerRelationships
QUESTIONS
6-1Nonfinancialmeasuressuchascustomersatisfactionandcustomerloyaltyareimportantinmanagingrelationshipswithcustomers,butanexcessivefocusonimprovingcustomerperformancewithonlythesemetricscanleadtodeterioratingfinancialperformance.Tobalancethepressuretomeetandexceedcustomerexpectations,companiesshouldalsobemeasuringthecosttoserveeachcustomerandtheprofitsearned,customerbycustomer.
6-2Examplesofdifferencesbetweencustomerswhohavehighandlowcosts-to-servemaybedrawnfromthechapter’sExhibit6-1,partofwhichappearsbelow.
HighCost-to-ServeCustomers
LowCost-to-ServeCustomers
•Ordercustomproducts
•Orderstandardproducts
•Smallorderquantities
•Largeorderquantities
•Customizeddelivery
•Standarddelivery
•Manualprocessing;highordererrorrates
•Electronicprocessing(EDI)withzerodefects
•Largeamountsofpre-salessupport(marketing,technical,andsalesresources)
•Littletonopre-salessupport(standardpricingandordering)
•Largeamountsofpost-salessupport(installation,training,warranty,fieldservice)
•Nopost-salessupport
•Payslowly(havehighaccountsreceivablefromcustomer)
•Payontime(lowaccountsreceivable)
6-3Companiesshouldnotnecessarilyavoidhighcost-to-servecustomers.Thehighcostofservingsuchcustomerscanbecausedbytheirunpredictableorderpatterns,smallorderquantitiesforcustomizedproducts,nonstandardlogisticsanddeliveryrequirements,andlargedemandsontechnicalandsalespersonnel.Activity-basedpricingmaybeusedtoensurethatcompanieschargepricesthatarehighenoughtocoverthehighcostsofservingsuchcustomers.Customersmay,inresponse,changetheirbehaviortobecomelowercost-to-servecustomers.Companiesmayalsoimprovetheprocessusedtoproduce,sell,deliver,andservicecustomersinordertoimprovecustomerprofitability.
6-4The80-20ruleasappliedtosalesrevenuesreferstothecommonfindingthatwhencompaniesrankproductsandcustomersfromthehighestsalesvolumetothelowest,theygenerallyfindthattheirtop-selling20%ofproductsorcustomersgenerateabout80%oftotalsales.
6-5Thetypicalshapeofagraphofcumulativeprofitsversuspercentageofcustomersrankedfrommostprofitabletoleastprofitableisa“whalecurve,”inwhichthemostprofitable20%ofcustomersgenerateabout180%oftotalprofits;thisisthepeak,orhumpofthewhaleabovesealevel.Themiddle60%ofcustomersapproximatelybreakeven,andtheleastprofitable20%ofcustomersloseabout80%oftotalprofits,leavingthecompanywithits100%oftotalprofits(“sealevel”inthewhalecurverepresentsthecompany’sactualreportedprofits).Thehump(ormaximumheight)ofacumulativeprofitabilitycurvegenerallyhits150%to250%oftotalprofits,andthisheightisusuallyachievedbythemostprofitable20%to40%ofcustomers.
6-6Servicecompanies,evenmoresothanmanufacturingcompanies,mustfocusoncustomercostsandprofitabilitysalesbecausethevariationindemandfororganizationalresourcesismuchmorecustomerdriventhaninmanufacturingorganizations.Amanufacturingcompanyproducingstandardproductscancalculatethecostofproducingtheproductswithoutregardtohowtheircustomersusethem.Inthissense,themanufacturingcostsarecustomerindependent.Ofcourse,thecostsofmarketing,selling,orderhandling,delivery,andserviceoftheproductsmightbecustomerspecific.Forservicecompanies,incontrast,customerbehaviordeterminesthequantityofdemandsfororganizationalresourcesthatproduceanddelivertheservicetocustomers.
6-7Considercustomerswhomaintaincheckingaccountsatabank.Onecustomermaymaintainahighcashbalanceinhischeckingaccount;makeveryfewdeposits,withdrawals,balanceinquiries,orservicerequests;anduseonlyelectronicchannels(i.e.,automatictellermachinesandtheInternet).Anothercustomermaymanagehercheckingaccountbalanceveryclosely,keepingonlytheminimumamountonhand,anduseheraccountheavilybymakingmanysmallwithdrawalsanddepositsviamanualtransactionswithbanktellers.Theconsequenceofthecustomers’verydifferentuseofthebank’sresourcesisthatthesecondcustomerismuchmorecostlytoservethanthefirstcustomer.
6-8Thefourbroadgroupsofactionsthatmanagersmightusetotransformunprofitablecustomersintoprofitableonesare:
∙Improvetheprocessesusedtoproduce,sell,deliver,andservicethecustomer.
∙Deploymenu-basedpricingtoallowthecustomertoselectthefeaturesandservicesitwishestoreceiveandpayfor.
∙Enhancethecustomerrelationshiptoimprovemarginsandlowerthecosttoservethatcustomer.
∙Usemoredisciplineingrantingdiscountsandallowances.
6-9Apricingwaterfallchartdepictsthemultiplerevenueleaksfromlistpricecausedbyspecialallowancesanddiscountsgrantedtoobtaintheorderandbuildcustomerloyalty.
6-10Salespersons’incentivesorcompensationplansthatsetminimumquotasandcommissionsbasedonsalesrevenue,andtiebonusesandrewardstoachievingsalesrevenuesaboveastretchtargetcontributetounprofitablecustomerrelationships.Sucharrangementsencouragesalespeopletoclosedealsandgeneraterevenueswithoutregardtothecostoffulfillingthespecialarrangementsnegotiatedinthedealandtheimpactofdiscountsandallowancesgrantedtoclosethedeals.
6-11Life-cycleprofitabilityanalysisweighstheexpectedvalueofthestreamofacustomer’snetmarginsagainstthecostofacquiringthecustomer.Companiesmustunderstandvariationofcustomerdemandsacrossmultipleproductsandservicesandtheexpectedlengthofeachcustomer’srelationshipwiththecompany(givenpotentiallycostlyretentionefforts),inordertocalculateeachcustomer’stotallife-cycleprofitability.Theanalysisinvolvesidentifyingcharacteristicsofprofitablecustomers.Companiescanthendirecttheirmarketingeffortsaccordinglytospecificsegmentsthataremostlikelytoyieldandretainprofitablecustomers.Acquiringtheinformationnecessaryforlife-cycleprofitabilityanalysisandusingthisinformationtocalculatelife-cycleprofitabilitythusprovidesinsightsaboutwhichcustomergroupsarelikelytobeprofitableovertheexpectedlifeofacustomer’srelationshipwiththecompany.
6-12No.Expertsnowagreethatitisamistakeforacompanytousethesatisfactionscoreasitsonlycustomermetric.Acustomer’ssatisfactionisanattitudeorbeliefstemmingfromafeelingthattheproductorservicehasgenerallydeliveredonthecustomer’sexpectationofperformance.Buthavingattitudesandbeliefsarenotactions;acustomer’sattitudetowardaproductoracompanydoesnotreadilytranslateintothedesiredbehaviorofrepeatedandincreasedpurchasesoftheproductorservice,orcustomerloyalty.
6-13Loyalcustomersarevaluableforseveralreasons.Threereasonsarerequiredinthisquestion;thechapterliststhefollowingfivereasons:
1.Loyalcustomershaveagreaterlikelihoodtorepurchase,andthecoststoretainthemaregenerallymuchlowerthanthecosttoacquireanentirelynewcustomer.
2.Loyalcustomerscanpersuadeothers,throughwordofmouth,tobecomenewcustomers;theycanbecomereferencesforpotentialfuturecustomers.
3.Loyalcustomersarelesslikelytodefectwhenacompetitoroffersasimilarproductatthesameorslightlylowerprice.
4.Loyalcustomersareoftenwillingtopayapricepremiumtoretainaknownandtrustedrelationshipwithakeysupplier.
5.Loyalcustomersarewillingtocollaboratewiththesuppliertoimproveperformanceanddevelopnewproducts.
6-14Customerretentionrate,thoughatraditionalcustomerloyaltymetric,isapoorindicatorofacustomer’sloyalty.Thisisbecausecustomersoftenremainwiththeircurrentsupplierbecauseofinertia,highswitchingcosts,orthecurrentlackofanalternativesupplier.
6-15Thefivestagesofahierarchyforcategorizingcustomersatisfactionandloyaltyare:
1.Satisfiedcustomers,asmeasuredbyhowwellacustomer’sexpectationshavebeenmetorexceededinanindividualtransactionorlong-termrelationship.
2.Loyalcustomers,asmeasuredthecustomerdevotinganincreasing“shareofwallet”forrepeatpurchasesfromthesamesupplier.
3.Committedcustomers,thosewhonotonlypurchasefrequentlyfromthesupplierbutalsotellothersaboutthesupplier’sgreatproductsandservice.
4.Apostlecustomers,committedcustomerswhohavecredibilityandauthoritywhentheyrecommendthesuppliertofriends,neighbors,andcolleagues.
5.Customer“owners,”whotakeresponsibilityforthecontinuingsuccessofthesupplier’sproductorservice.
Acompanyshouldstrivetohavemoreofitscustomersincategories3,4,and5above,sincetheirwillingnesstorecommendthecompanytoothersandtocollaboratewithittocontinuallyimproveproductfeaturesandservicemakesthemfarmorevaluable,withamuchhighercustomerlifetimevalue,thancustomerswhoaremerelysatisfiedwiththemostrecenttransaction.
Companiesthatofferpersonalizedservicestocustomers,suchasbyaNordstromsalesperson,orthatofferrewardstoloyalcustomerscangeneratehighcustomerloyalty.Theseloyalcustomersthenrecommendthecompaniestoothers.Onlinecompaniessuchasgeneratecustomerloyaltybecauseprovideagoodselectionofdesiredproducts,competitiveprices,easyordering,quickdelivery,andreviewers’commentsonproducts.Loyalcustomers,inturn,providecommentsonproducts;helpfulreviewsinconjunctionwiththeotherpositiveattribut
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