Customer Satisfaction, Loyalty, Management and EmpowermentLearning OutcomesCustomer empowerment. Student can identify how their chosen product or service offering uses socialnetworks to communicate and empower customers to be part of the marketing process.Customer satisfaction. Student can identify how customers communicate their satisfaction ordissatisfaction with the chosen product or service offering.Customer Relationship Management. Student can explain customer lifetime value and how a customerrelationship management program can have a role in attracting and retaining most valuable customers.Customer privacy. Student can identify the product or service offerings privacy policy and analyze itseffectiveness in protecting their customers information.DirectionsRefer to the product or service you selected last week ( DIET COKE). This week you want to take a closerlook at the companys website to identify how that company interacts with its customers. If they haveFacebook pages or other social media, check them out as well and add that information to your researchdata.You may want to find a Most Valuable Customer of the product or service if you are not one yourself, oralternatively think like an MVC. What is the evidence of an MVC of your product or service. It isn't justthat the customer regularly buys the product or service. It means that the customer is treateddifferently better than other customers. It means that the MVC represents about 20% of thecompany's revenues. These are the customers with whom the company regularly communicates, offersspecial deals, and other ways as outlined in the text and as you can find with just a little bit of googlingon the internet.You may want to calculate the lifetime value of a most valuable customer. See the discussion of thelifetime value calculation in the week's reading, and calculate the LTV using this simple equation: LTV =(Price - cost to produce the product) * number of annual purchases * number of years expected topurchase - initial acquisition costs. For simplicity sake, you can assume your customer will have arelationship with you for ten years and you can make an educated guess as to how much the initialacquisition costs were to get him as a customer in terms of advertising or other types of promotionefforts. If you are not an MVC yourself, make and share your assumptions about your calculation. If youare not an MVC, you might want to find someone who is and ask them why they are loyal to the productor service and what they feel the company does for them that is special that they don't do for othercustomers.You may need call or visit a store to take a look at your product or service if the website does not provideyou everything you need to evaluate the company's product or service privacy policy. Usually the privacypolicy is available on the website.Prepare your assignment beginning with a title page with your name and product or service. Thenanswer the following four questions in order and number the beginning of your response to eachquestion.Customer Empowerment. How does your product or service offering empower its customers asdiscussed in the course readings this week? In other word, how are customers part of the marketing forthe company? Identify the feedback vehicles they may use, especially social media. Do the social mediaefforts seem to be creating buzz marketing? If not, what could they do to generate more buzz?Customer satisfaction. How does your product or service offering communicate ways for customers toexpress their dissatisfaction and if possible, outline what remedies the product or service may be takingto ensure satisfaction.Customer Relationship Management. Does it appear that your product has a customer relationshipmanagement strategy? In other words, do they treat the top tier of customers differently than othercustomers? If so, what is your evidence? If not, should they have a CRM strategy? Or, are therecompelling reasons why your product or service should treat all customers the same? Refer to coursecontent concepts in your response.Customer privacy. Review your product or service offering's privacy policy (usually published on itswebsite). Analyze whether you think they do enough to protect the customers privacy or what steps youmight suggest they take to protect customer's privacy. Refer to the privacy policies or the information onwarranties and guarantees. The company's customer support page might also be useful. Do they pubisha remedy should the customer's privacy be breached? Should they?We are using Diet Coke. From a continuation you did last week.