Chapter 10 Exceed Expectations with Value
<ul><li>Value is  perceived </li></ul><ul><li>Value is a tradeoff </li></ul><ul><li>Benefits gained </li></ul><ul><ul><li>...
<ul><li>A customer’s perception of value includes: </li></ul><ul><li>Internal (core) value </li></ul><ul><li>External valu...
<ul><li>Intrinsic  value must be satisfactory. </li></ul><ul><li>Extrinsic  value that exceeds expectations can create lon...
<ul><li>If a product or service exceeds customer expectations, the customer is highly likely to become a loyal, long-term ...
<ul><li>Enhance the perception of value with: </li></ul><ul><li>Packaging </li></ul><ul><li>Boxed items vs. items lying on...
<ul><li>Enhance the perception of value with: </li></ul><ul><li>Guarantees or Warranties </li></ul><ul><li>Long-term guara...
<ul><li>Enhance the perception of value with: </li></ul><ul><li>Goodness of Fit </li></ul><ul><li>Think of customers as in...
<ul><li>Enhance the perception of value with: </li></ul><ul><li>Memorable Experiences </li></ul><ul><li>The experience may...
<ul><li>Enhance the perception of value with: </li></ul><ul><li>Uniqueness and Shared Values </li></ul><ul><li>Employees s...
<ul><li>Enhance the perception of value with: </li></ul><ul><li>Credibility </li></ul><ul><li>The degree of trust for a co...
<ul><li>Enhance the perception of value with: </li></ul><ul><li>Add-ons </li></ul><ul><li>Give customers something unexpec...
<ul><li>Use the principles of exceeding expectations and A-Plus value with employees (internal customers) as well as with ...
<ul><li>Even if customers don’t consciously realize that you are giving them “external value” with their purchase, they wi...
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Timm chapter 10

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Timm chapter 10

  1. 1. Chapter 10 Exceed Expectations with Value
  2. 2. <ul><li>Value is perceived </li></ul><ul><li>Value is a tradeoff </li></ul><ul><li>Benefits gained </li></ul><ul><ul><li>Costs expended </li></ul></ul><ul><li>Value is a sense of the product or service’s quality </li></ul>
  3. 3. <ul><li>A customer’s perception of value includes: </li></ul><ul><li>Internal (core) value </li></ul><ul><li>External value </li></ul><ul><li>Perception of the buying experience </li></ul>
  4. 4. <ul><li>Intrinsic value must be satisfactory. </li></ul><ul><li>Extrinsic value that exceeds expectations can create long-term customer relationships </li></ul>
  5. 5. <ul><li>If a product or service exceeds customer expectations, the customer is highly likely to become a loyal, long-term customer. </li></ul>
  6. 6. <ul><li>Enhance the perception of value with: </li></ul><ul><li>Packaging </li></ul><ul><li>Boxed items vs. items lying on a shelf </li></ul><ul><li>Gift wrapping </li></ul><ul><li>Notes or engravings </li></ul>
  7. 7. <ul><li>Enhance the perception of value with: </li></ul><ul><li>Guarantees or Warranties </li></ul><ul><li>Long-term guarantees </li></ul><ul><li>Short guarantees may encourage returns </li></ul><ul><li>Return rates equal </li></ul>
  8. 8. <ul><li>Enhance the perception of value with: </li></ul><ul><li>Goodness of Fit </li></ul><ul><li>Think of customers as individuals </li></ul><ul><li>Avoid stereotyping </li></ul><ul><li>Create “industrial intimacy” </li></ul><ul><li>Use intelligent systems </li></ul>
  9. 9. <ul><li>Enhance the perception of value with: </li></ul><ul><li>Memorable Experiences </li></ul><ul><li>The experience may be the highest level of economic value </li></ul><ul><li>Connect with customers through experiences, not just products </li></ul>
  10. 10. <ul><li>Enhance the perception of value with: </li></ul><ul><li>Uniqueness and Shared Values </li></ul><ul><li>Employees sharing corporate values </li></ul><ul><li>Customers sharing corporate values </li></ul><ul><li>Customers bonding with employees </li></ul>
  11. 11. <ul><li>Enhance the perception of value with: </li></ul><ul><li>Credibility </li></ul><ul><li>The degree of trust for a company </li></ul><ul><li>Communicate clearly to build trust </li></ul><ul><li>Follow up with customers to build trust </li></ul>
  12. 12. <ul><li>Enhance the perception of value with: </li></ul><ul><li>Add-ons </li></ul><ul><li>Give customers something unexpected </li></ul><ul><li>Sell them something else they will need </li></ul><ul><li>Add-ons make customers feel cared for </li></ul>
  13. 13. <ul><li>Use the principles of exceeding expectations and A-Plus value with employees (internal customers) as well as with paying customers. </li></ul>
  14. 14. <ul><li>Even if customers don’t consciously realize that you are giving them “external value” with their purchase, they will believe that you offer them greater value when you exceed their expectations. </li></ul>

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