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1. what are customer value, satisfaction, and loyalty, and how can companies deliver them

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Sameer Mathur
Sameer Mathur

Creating Long-term Loyalty Relationships

Marketing
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Customer Value, Satisfaction & Loyalty
Without customers, you don’t have a business
CPV = Total Benefits – Total CostCustomer Perceived Value Monetary Time Energy Psychological Product Services Personnel Image Deliver a high value
what he buys what he expects CPV > Expectations  Satisfaction
Top 20% of customers account for 80% of revenue
But satisfaction does not always guarantee loyalty
Take regular feedback
Setup a friendly toll free 24x7 hotline
Only 5% complain if 25% are dissatisfied Redressal of their complaints is of paramount importance
Contact the customer as soon as possible
Be accountable for the problem
Resolve the problem swiftly to the customer’s satisfaction
Thank You Created by Ashutosh Rungta, IIT Roorkee, during an internship by Prof. Sameer Mathur, IIM Lucknow www.IIMInternship.com References: All images have been taken from Google image search and do not violate any copyrights.

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