Chapter 5 doromal

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  • Modern Customer-Oriented Company Organization
  • Chapter 5 doromal

    1. 1. Chapter 5: CREATING CUSTOMER VALUE, SATISFACTION, AND LOYALTY<br />Hannah Paula V. Doromal<br />Ateneo School of Medicine and Public Health<br />Top 10 Concepts<br />
    2. 2. Customers are on Top<br />Customers as Value Maximizers<br />Satisfaction: The Difference between Performance and Expectation<br />Quality is key to Value Creation and Satisfaction<br />Customer Profitability = Net Positive Value<br />OUTLINE<br />
    3. 3. Customer Lifetime Value Implies Profit<br />CRM for a Strong Long-Term Relationship<br />Retaining Customers is More Profitable than Attracting Them<br />Loyalty is Key to Long-Term Marketing Success<br />Customer Database Makes Known the Customer<br />OUTLINE<br />
    4. 4. Concept 1: Customers are on Top<br />CUSTOMERS<br />CUSTOMERS<br />
    5. 5. Kotler: U.S. Retailer CompUSA onsite customer reviews<br />Local: Medical City<br />RP Medical Application: The Doctor-Patient relationship<br />Concept 1: Customers are on Top<br />
    6. 6. How then do customers ultimately make choices?<br />Concept 2: Customers as Value Maximizers<br />CUSTOMER-PERCEIVED VALUE (CPV)<br />TOTAL CUSTOMER COST<br />TOTAL CUSTOMER BENEFIT<br />=<br />-<br /><ul><li> Product benefit
    7. 7. Services benefit
    8. 8. Personnel benefit
    9. 9. Image benefit
    10. 10. Monetary cost
    11. 11. Time cost
    12. 12. Energy cost
    13. 13. Psychological cost</li></li></ul><li>Kotler: Hewlett-Packard Co., Dell Inc.<br />Local: Which gym package to subscribe to?<br />RP Medical Application: Patient packages<br />Concept 2: Customers as Value Maximizers<br />
    14. 14. Performance > Expectations =<br />Deliver high Customer satisfaction<br /> subject to delivering acceptable<br /> levels of Stakeholder satisfaction<br />Regular measurement needed<br />Concept 3: Satisfaction: The Difference between Performance and Expectation<br />
    15. 15. Kotler: Joie de Vivre Hospitality Inc. chain of boutiques<br />Local: Hotel service<br />RP Medical Application: After discharge, transport services and follow-up enquiries for patient<br />Concept 3: Satisfaction: The Difference between Performance and Expectation<br />
    16. 16. Concept 4: Quality is key to Value Creation and Satisfaction<br />
    17. 17. Concept 4: Quality is key to Value Creation and Satisfaction<br />Kotler: GE<br />Local: Antique pinya barong<br />RP Medical Application: Hospital facilities and services<br />
    18. 18. Concept 5: Customer Profitability = Net Positive Value<br />COMPANY COST<br />COMPANY REVENUE<br />PROFITABLE CUSTOMER<br />=<br />><br />
    19. 19. Kotler: Casino Membership Cards<br />Local: Mabuhay Miles<br />RP Medical Application: PhilHealth premiums <br />Concept 5: Customer Profitability = Net Positive Value<br />
    20. 20. Maximizing long-term customer profitability<br />A lifetime stream of revenue and cost<br />Concept 6: Customer Lifetime Value Implies Profit<br />
    21. 21. Kotler: Planning customer investments<br />Local: Life Insurances<br />RP Medical Application: Health Preventive measures (Primordial prevention)<br />Concept 6: Customer Lifetime Value Implies Profit<br />
    22. 22. Customer Relations Management (CRM) - managing customer “touch points” to maximize customer loyalty<br />Increasing the value of Customer Base<br />Concept 7: CRM for a Strong Long-Term Relationship<br />
    23. 23. Kotler: Harrah’s Entertainment Inc. loyalty program<br />Local: Pharmaceutical companies<br />and doctors<br />RP Medical Application: OB-GYNE and Pediatric practices<br />Concept 7: CRM for a Strong Long-Term Relationship<br />
    24. 24. 5% reduction in defection rate can increase profits by 25%-85%<br />Concept 8: Retaining Customers is More Profitable than Attracting Them<br />
    25. 25. Kotler: Citizens Bank and dog biscuits<br />Local: Cable companies <br />RP Medical Application: Keeping<br /> patient’s medical records<br />Concept 8: Retaining Customers is More Profitable than Attracting Them<br />
    26. 26. Concept 9: Loyalty is Key to Long-Term Marketing Success<br />
    27. 27. Kotler: Harley-Davidson<br />Local: Apple products<br />Concept 9: Loyalty is Key to Long-Term Marketing Success<br />
    28. 28. RP Medical Application: Patient-doctor relationship<br />Concept 9: Loyalty is Key to Long-Term Marketing Success<br />
    29. 29. Marketers must know<br /> their customers<br />A Database:<br />Identifies prospects<br />Decide which customer<br /> should receive a particular<br /> offer<br />Deepen customer loyalty<br />Reactivate customer purchase<br />Avoid serious customer mistakes<br />Concept 10: Customer Database Makes Known the Customer<br />
    30. 30. Kotler: UK supermarket chain Tesco’s Clubcard frequent-shopper program<br />Local: Formula milk companies and free milk with their registration<br />RP Medical Application: Personalized greeting cards for patients from their doctors (Pedia)<br />Concept 10: Customer Database Makes Known the Customer<br />
    31. 31. Customers should be on Top<br />Customers are value maximizers<br />Satisfaction is when performance is greater than expectation<br />Quality is leads to value creation and customer satisfaction<br />Customer profitability yields a Net Positive Value<br />CONCLUSION<br />
    32. 32. Maximizing CLV brings the firm profit<br />CRM is needed to establish a strong long-term relationship<br />Retaining customers is more profitable<br />Customer loyalty brings long-term marketing success<br />Customer database makes known the customer<br />CONCLUSION<br />
    33. 33. Chapter 5: CREATING CUSTOMER VALUE, SATISFACTION, AND LOYALTY<br />Hannah Paula V. Doromal<br />Ateneo School of Medicine and Public Health<br />Top 10 Concepts<br />

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