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1. 1-1
Satisfaction is a person’s
feelings of pleasure or
disappointment resulting
from comparing a product’s
perceived performance (or
outcome) in relation to his or
her expectations.

2. 1-2
Determinants of Customer Delivered Value
Image value
Personnel value
Services value
Product value
Total
customer
value
Monetary cost
Time cost
Energy cost
Psychic cost
Total
customer
cost
Customer
delivered
value

3. 1-3
Marketing and Customer Value
 There are two views of the value delivery process
 Traditional Physical process Sequence (Traditional view of
marketing)Make the Product
 Value Creation and Delivery Sequence
Design
Product
Procure Make Price Sell Promote Distribute Service
Make the product Sell the Product
Customer
Segmentation
Market
Selection
Value
Positioning
Product
Development
Service
Development
Pricing
Sourcing
Making
Distribution
Servicing
Sales
force
Sales
promotion
Advertising
Choose the value Provide the value Communicate the value
Strategic Marketing Tactical Marketing

4. 1-4
The Generic Value Chain
Primary Activities
Support
Activities
Procurement
Serv-
ice
Technology Development
Human resource management
Firm infrastructure
Inbound
Logistics
Opera-
tions
Out-
bound
Logistics
Market-
ing
and
sales

5. 1-5
Satisfied Customers:
 Are loyal longer
 Buy more (new products & upgrades)
 Spread favorable word-of-mouth
 Are more brand loyal (less price sensitive)
 Offer feedback
 Reduce transaction costs

6. 1-6
Holistic Marketing Framework
 This Physical evidence in 7ps
 Value exploration: It means how organizations can identify new value
opportunities.
 It involves understanding the relationship among three spaces
 This requires an understanding of customer's cognitive space which
reflects existing and latent needs and includes dimensions such as
need for participation, stability, freedom and change.
 The companies competence space (broad versus focused scope of
business and physical versus knowledge-based capabilities.
 Collaborators resource space includes horizontal partnership with
partners chosen for exploiting market opportunities and vertical
partnership with partners who can serve the firm’s value creation

7. 1-7
 Value creation: how can a company efficiently create more
promising new value offerings?
 It includes identifying new customer benefits from the
customer’s view.
 Marketers must make efforts to recognize the new customer
benefits from the customer's perspective, use key
competencies from its business field and choose and manage
business collaborators from its combined networks.
 Marketers must recognize what the customer thinks about
wants, does and worries about and observe whom customer
admire and interact with and who influences them.

8. 1-8
 Value delivery: How can a company use its capabilities and infrastructure to
deliver the new value offerings more efficiently.
 Delivery value denotes extensive investment in infrastructure and
capabilities.
 The company must become capable at customer relationship management,
internal resources management, and business partnership management.
 Customer relationship management enables the company to determine
who its customers are, how they behave, and what they need or want. It
also facilitates the company to respond properly, logically, and promptly
to different customer opportunities.
 To respond effectively, the company requires internal resources
management to incorporate major business processes like order
processing, general ledger, payroll, and production within a single
family.
 Business partnership management enables the company to manage
complex relationships with all its business contacts.

9. 1-9