Q Instructions Instructions for the second memo: The team is to write memo to the Director of Marketing addressing the below concerns and using the data supplied in this section. The team may also include data from previous module assignments based on the LusterLast® scenario. The memo should be single-spaced, as is the norm for a marketing memo, and not exceed two pages. Please submit in the assigned drop box in this module. The specific due date will be determined by the instructor. Scenario Janice Gardner, Director of Marketing for LusterLast®, has a report put together by the company’s Management Information Systems department (MIS). Below are the highlights. LusterLast® Customer Topline Report Average Number of Retail Customers Average Customer Lifespan Average Sale Per Customer ($) Average Number of Purchases Per Year Annual Sales ($) Customer Retention Rate (%) 19,000 10 $2.77 15 $276,300 60% Number of Retail Outlets in US Number of Outlets Served Number of Small Retail Outlets Number of Medium-sized Retail Outlets Number of Large Retail Outlets 10,000 5,7000 6,000 3,000 1,000 Average Annual Purchases ($) Average Annual Purchases ($) Industry Annual Purchases ($) $25,000 $37,000 $500,000 Please address the following in this memo: 1. What is the Customer Lifetime Value (CLV) for LusterLast® products? Explain what impact might it have on Marketing Spending, both in terms of revenue and as a percentage of sales? What is your rationale supporting your perspective? 2. Provide an estimation of the sales potential for LusterLast® based on the data provided? Based on your analysis of the data in this section, evaluate whether an increase in marketing spending is warranted? 3. How would you suggest the firm measure sales force effectiveness? What variables do you recommend would be the best to measure given the industry and product category? Compare and contrast how each variables identified offers a unique view of sales force effectiveness. 4. Lastly, offer recommendation of what distribution channel metrics would compliment the sales force effectiveness metrics the team recommends. Support the team's perspective by comparing an contrasting each metric suggested for measuring sales force effectives versus distribution channel effectiveness. The team may utilize tables to enhance understanding. 4. Please include an Executive Summary at the top of the memo. And, it is advised that you use main and subtopic headings to guide the reader through the document.