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Chap 5 - creating customer value, satisfaction and loyalty


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markma chap 5 kotler - creating customer value, satisfaction and loyalty

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Chap 5 - creating customer value, satisfaction and loyalty

  1. 1. Crisostomo, Kathleen Lizette C.MARKMAChapter 5 - Creating Customer Value, Satisfaction,and Loyalty
  2. 2. The CUSTOMER isnow a top priority inthe modernorganization chart
  3. 3. Customer Perceived Value (CPV) =Difference between all benefitsand costs of an offering and theperceived alternatives
  4. 4. Loyalty = deeply held commitmentto re-buy or re-patronize apreferred product or service in thefuture despite situationalinfluences and marketing effortshaving the potential to causeswitching behaviorQuality = totality of features andcharacteristics of a product orservice that bear on its ability tosatisfy stated or implied needs
  5. 5. Marketing is the art ofATTRACTING and KEEPINGprofitable customersProfitable Customer = revenuefromperson/household/company isgreater than the company’s costof attracting, selling andservicingSatisfaction = CustomerLifetime Value
  6. 6. Customer Relationship Management =carefully managing detailed informationabout individual customers and allcustomer touch points to maximizecustomer loyalty
  7. 7. Framework for CRM:1. Identify prospects andcustomers
  8. 8. 2. Differentiate customers byneeds and value to company
  9. 9. 3. Interact to improve knowledge
  10. 10. 4. Customize for each customer
  11. 11. CRM Strategies (how winning companiesimprove their customer base):1. Reduce the rate of defection
  12. 12. 2. Increase longevity
  13. 13. !3. Enhance share of wallet
  14. 14. !4. Terminate low-profit customers
  15. 15. !5. Focus more effort onhigh-profit customers