Published on April 26, 2014
3-1Copyright © 2003 Prentice-Hall, Inc. Customer needs & values
3-2Copyright © 2003 Prentice-Hall, Inc. It is no longer enough to satisfy customers. You must delight them. Building Customer Satisfaction, Value, and Retention Kotler on Marketing
3-3Copyright © 2003 Prentice-Hall, Inc. Defining Customer Value and Satisfaction Customer Perceived Value (CPV) Total customer value Total customer cost
3-4Copyright © 2003 Prentice-Hall, Inc. Determinants of Customer Delivered Value
3-5Copyright © 2003 Prentice-Hall, Inc. Total Customer Satisfaction Satisfaction Customer Expectations Delivering High Customer Value Value proposition Value-delivery system Measuring Satisfaction Defining Customer Value and Satisfaction
3-6Copyright © 2003 Prentice-Hall, Inc. Tools for Tracking and Measuring Customer Satisfaction Complaint and suggestion systems: Customer satisfaction surveys: A customer-centered organization makes it easy for customers to register suggestions and complaints. Some customer-centered companies-P&G, General Electric, Whirlpool—establish hot lines with toll-free numbers. Companies are also using Web sites and e-mail for quick, two-way communication. Studies show that although customers are dissatisfied with one out of every four purchases, less than 5 percent will complain. Most customers will buy less or switch suppliers. Responsive companies measure customer satisfaction directly by conducting periodic surveys. While collecting customer satisfaction data, it is also useful to ask additional questions to measure repurchase intention and to measure the likelihood or willingness to recommend the company and brand to others.
3-7Copyright © 2003 Prentice-Hall, Inc. Discussion question Would you feel more brand loyalty for a company that tried to 1. Immediately resolve a complaint via E-mail, or 2. A company that had a customer service representative call within two business days 3. Resolve the problem over the phone?
3-8Copyright © 2003 Prentice-Hall, Inc. Delivering Customer Value and Satisfaction Benchmarks Core Business Processes The market sensing process The new offering realization process The customer acquisition process The customer relationship management process The fulfillment management process
3-9Copyright © 2003 Prentice-Hall, Inc. The Value Delivery Network (Supply Chain) Delivering Customer Value and Satisfaction
3-10Copyright © 2003 Prentice-Hall, Inc. Attracting and Retaining Customers Partner relationship management (PRM) Customer relationship management (CRM) Saturn gained a customer loyalty rate of more than 60% by fundamentally changing the buyer-seller relationship.
3-11Copyright © 2003 Prentice-Hall, Inc. Attracting and Retaining Customers Attracting Customers Computing the Cost of Lost Customers Customer churn Lifetime value
3-12Copyright © 2003 Prentice-Hall, Inc. Attracting and Retaining Customers The Need for Customer Retention Measuring Customer Lifetime Value (CLV) Customer Relationship Management (CRM): The Key Customer equity Three drivers of customer equity Value equity Brand equity Relationship equity
3-13Copyright © 2003 Prentice-Hall, Inc. The Customer- Developme nt Process
3-14Copyright © 2003 Prentice-Hall, Inc. Attracting and Retaining Customers Forming Strong Customer Bonds: The Basics Cross-departmental participation Integrate the Voice of the Customer into all business decisions Create superior offering for the target market
3-15Copyright © 2003 Prentice-Hall, Inc. Organize and make accessible a database of customer information Make it easy for customers to reach the appropriate personnel Reward outstanding employees Adding Financial Benefits Frequency programs (FPs) Adding Social Benefits Attracting and Retaining Customers
3-16Copyright © 2003 Prentice-Hall, Inc. Social Actions Affecting Buyer-Seller Relationships Good Things Bad Things Initiate positive phone calls Make recommendations Use phone Show appreciation Make service suggestions Get to problems Use jargon or shorthand Talk of “our future together” Accept responsibility Plan the future Make only callbacks Make justifications Use correspondence Wait for misunderstandings Wait for service requests Only respond to problems Use long-winded communications Talk about making good on the past Shift blame Rehash the past
3-17Copyright © 2003 Prentice-Hall, Inc. Attracting and Retaining Customers Adding Structural Ties Create long-term contracts Charge lower price to high volume customers Turn product into long-term service
3-18Copyright © 2003 Prentice-Hall, Inc. Customer Profitability, Company Profitability, and Total Quality Management Increasing Company Profitability Competitive advantage Implementing TQM Total Quality Management Quality
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