By the 1950s, the emphasis on understanding the needs of customers and forging long-term brand relationships (from cradle to grave) was becoming main stream. The expression "cradle to grave" is used in several different contexts in business most commonly as a description of a product's life cycle in marketing and advertising. It is specifically pronounced in marketing that targets children with the hope that they will become loyal consumers of that company's products for life. "Cradle to grave" is also a key concept to marketers who are trying to familiarize prospective customers or clients with new, improved or existing brands.
“Cradle to grave” denotes an ongoing process. It involves monitoring and assessing the entire life cycle of a subject or object. McNeal (1992) observes that the only way to increase customers is to either switch them from other brands or "grow" them. It is easier to grow customers from birth than switch them.
The Cradle to the Grave Marketing Process
The cradle to grave concept aims at developing appropriate products, communications and promotions that maximize sales to consumers at each stage of life. The concept is based on the "lifetime value" of a customer. Lifetime Customer Value (LTV) is calculated based on assumptions about the total quantity and corresponding dollar value of a company's product that a consumer could purchase throughout his lifetime. To maximize LTV, a company must develop a cradle-to-grave strategy for its products.
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The author, Mumassabba Janet [email protected] is a Masters of Business Administration (MBA) Student, Strategic and Management Option at Jomo Kenyatta University of Science and Technology (JKUAT). She attained her Bachelor of Business Development degree in Enterprise Development and Management at Masinde Muliro University of Science & Technology (MMUST).