Fred Reichheld argues that customer loyalty is key to business growth and profitability. His research found that most companies lose half their customers every 5 years, employees every 4 years, and investors within a year. This disloyalty stunts company growth by 25-50%. Reichheld's loyalty-based management strategy focuses on building superior customer value, finding the right customers and employees, and earning their loyalty through quality products and service. When implemented successfully, this approach leads to increased revenues and market share, sustainable growth, and a cost advantage through higher productivity.
CRM is a competitive strategy and process of acquiring, reacting and partnering with selective customers to create superior value for the company and the customer.
CRM is a competitive strategy and process of acquiring, reacting and partnering with selective customers to create superior value for the company and the customer.
How can companies attract and retain the right customers and cultivate strong...Sameer Mathur
Based on the chapters from A South Asian Perspective by Philip Kotler
Learn how companies attract and retain their customers. Learn how companies personalize the market, how they empower the customer and how the customer reviews affect the companies growth, how companies reduce defection rates, the retention dynamics
It's a B2B and a B2C case where revenue comes from advertising and also from people. Case analysis of fashion channel with the interpretation of Demographic and attitudinal cluster analysis, problems pertaining to TFC, studying the solutions to the problems and answered to why "Dual targeting" ?
Contained in this paper is a Marketing Communications plan for Farm to Table Organic Café (Homemade Ice-cream). The target consumers of children, teenagers and young adults between the ages of 8 and 27 is the focus of the proposed campaign. Every research has been completed to identify and utilize Farm to Table Organic Café strengths, weaknesses, opportunities and threats to prepare a plan most beneficial to the shop also based on their financial reports, feedback from customers and comment from employees themselves. Objectives and tactics have been designed to fix mostly perfect with the development of Farm to Table Organic Café.
Allentwen material corporation - Electronic product divisionSaurabh Arora
Introduction
Leading manufacturer of speciality glass
Eight Line Divisions
First Company to establish an Industrial Research Laboratory
Marketing & R&D the strongest functional areas
Average growth of 10% a year
Electronics Product Division
Manufactured high quality electronic components
Initially, Business was from military market
Shifted to Commercial Market in late 1980s.
Growth in commercial market leading to high competition.
Current Scenario – (July 1992)
What can be done -
As it was seen Rogers has not been an effective leader, there is a need for training for him in more instructing management style
Rogers should remove himself from product development team and focus more on resource allocation
Team comprising for new product development should have employees from all the functions i.e. – it should be cross-functional
Sales team should be incentivized for bringing additional revenue for the company. It should have a dual salary structure – less fixed and more variable (commission)
More freedom needs to be given in budget allocation
More trainings about the specifications of the products(capacitors and resistors) should be provided
More team activities should be there so that trust and relation can be built amongst the teams
For fostering collaborative thinking, a common integrated system should be developed wherein feedback from the clients regarding product specification and product quality should be updated without any delay
Loyalty is a deeply held commitment to re-buy or re-patronize and preferred product or services, in the future despite situational influences and marketing efforts having the potential to cause switching behavior.
This presentation contains the following for Eileen Fisher, Retail Fashion Brand:
Problem Statement
Decisions to be Made
Company Introduction
POP and POD
Competitive Advantage
Brand Elements
Re-positioning Strategy
Keller Model
Aqualisa Quartz - Simply A Better Shower (HBR Case Study)Arjun Parekh
Probable Solution to HBR Case on Aqualisa Quartz. The Presentation consists of info about Channel Distribution, Development of Quartz Shower Valve, UK Shower Market, Initial Sales Results, 4Ps of Marketing for Aqualisa, A shift in Marketing Strategy.
We are living in times where customer loyalty is decreasing. Is it possible to create a strong emotional relationship with your clients. Or even better: can you become Friends with your clients? In this presentation I describe the difficult road to friendship. It is about doing business with the heart and it is about involving people. That combination leads to the strong emotional bond. In the end, this leads to Friends with benefits: more sales, more word-of-mouth and more loyalty. This philosophy is part of the marketing of the future, in my belief. Doing business with and to the heart will become an asset in these modern times.
How can companies attract and retain the right customers and cultivate strong...Sameer Mathur
Based on the chapters from A South Asian Perspective by Philip Kotler
Learn how companies attract and retain their customers. Learn how companies personalize the market, how they empower the customer and how the customer reviews affect the companies growth, how companies reduce defection rates, the retention dynamics
It's a B2B and a B2C case where revenue comes from advertising and also from people. Case analysis of fashion channel with the interpretation of Demographic and attitudinal cluster analysis, problems pertaining to TFC, studying the solutions to the problems and answered to why "Dual targeting" ?
Contained in this paper is a Marketing Communications plan for Farm to Table Organic Café (Homemade Ice-cream). The target consumers of children, teenagers and young adults between the ages of 8 and 27 is the focus of the proposed campaign. Every research has been completed to identify and utilize Farm to Table Organic Café strengths, weaknesses, opportunities and threats to prepare a plan most beneficial to the shop also based on their financial reports, feedback from customers and comment from employees themselves. Objectives and tactics have been designed to fix mostly perfect with the development of Farm to Table Organic Café.
Allentwen material corporation - Electronic product divisionSaurabh Arora
Introduction
Leading manufacturer of speciality glass
Eight Line Divisions
First Company to establish an Industrial Research Laboratory
Marketing & R&D the strongest functional areas
Average growth of 10% a year
Electronics Product Division
Manufactured high quality electronic components
Initially, Business was from military market
Shifted to Commercial Market in late 1980s.
Growth in commercial market leading to high competition.
Current Scenario – (July 1992)
What can be done -
As it was seen Rogers has not been an effective leader, there is a need for training for him in more instructing management style
Rogers should remove himself from product development team and focus more on resource allocation
Team comprising for new product development should have employees from all the functions i.e. – it should be cross-functional
Sales team should be incentivized for bringing additional revenue for the company. It should have a dual salary structure – less fixed and more variable (commission)
More freedom needs to be given in budget allocation
More trainings about the specifications of the products(capacitors and resistors) should be provided
More team activities should be there so that trust and relation can be built amongst the teams
For fostering collaborative thinking, a common integrated system should be developed wherein feedback from the clients regarding product specification and product quality should be updated without any delay
Loyalty is a deeply held commitment to re-buy or re-patronize and preferred product or services, in the future despite situational influences and marketing efforts having the potential to cause switching behavior.
This presentation contains the following for Eileen Fisher, Retail Fashion Brand:
Problem Statement
Decisions to be Made
Company Introduction
POP and POD
Competitive Advantage
Brand Elements
Re-positioning Strategy
Keller Model
Aqualisa Quartz - Simply A Better Shower (HBR Case Study)Arjun Parekh
Probable Solution to HBR Case on Aqualisa Quartz. The Presentation consists of info about Channel Distribution, Development of Quartz Shower Valve, UK Shower Market, Initial Sales Results, 4Ps of Marketing for Aqualisa, A shift in Marketing Strategy.
We are living in times where customer loyalty is decreasing. Is it possible to create a strong emotional relationship with your clients. Or even better: can you become Friends with your clients? In this presentation I describe the difficult road to friendship. It is about doing business with the heart and it is about involving people. That combination leads to the strong emotional bond. In the end, this leads to Friends with benefits: more sales, more word-of-mouth and more loyalty. This philosophy is part of the marketing of the future, in my belief. Doing business with and to the heart will become an asset in these modern times.
The product manager for coffee development at Kraft Foods Canada is faced with a decision of whether to embark on a marketing initiative for Kraft’s coffee pod machines in Canada. The machines dispense a single serving of coffee, and are currently being launched by Kraft in the United States. While existing Kraft brands dominate 1/3 of the Canadian market, 2/3 of market is occupied by competitors. While higher-priced premium is a smaller market, it is growing rapidly. Coffee sales were greatest among middle to upper income Canadians.
Alternate Choices:
Warmed Blankets, Air Circulating Blankets, Electric Blankets, Water Circulating Blankets, Adjusting room temperature, Heating Lamps (Infrared), Intravenous fluids (warmed), medication, Heated Mattresses
PROBLEM STATEMENT
How should Augustine Medical price the Bair Hugger Patient Warming System?
"A business model is the proprietary methodology used to acquire, service, and retain customers.” -- Jim Muehlhausen Author “The 51 Fatal Business Errors and How to Avoid Them”
Chapter 4 Creating Customer Value, Satisfaction, and LoyaltyNishant Agrawal
Creating Customer Value, Satisfaction, and Loyalty
Organizational Charts
What is Customer Perceived Value?
Determinants of Customer Perceived Value
Steps in a Customer Value Analysis
Measuring Satisfaction
What is Quality?
Knowing your customer, Doing a regular follow-up, Interacting with them, Offering them the best most importantly simplifying work to get the best output....
Consult Australia Tasmania Seminar - Proactive Business DevelopmentSarah Edson
Proactive business development tips and techniques for consultants to deliver more work!
Are your business development practices the right ones?
This session will help you win more business, differentiate yourself from your competitors and help you build your consulting practice. Presenter Kym Williams will work through how to build your pipeline, increase repeat work and referral opportunities and also take you through the meetings and structures you need to proactively put in place to engage your entire team around business development.
The presentation will:
· Work through how to build your pipeline, increase repeat work and referral opportunities
· Take you through the meetings and structures you need to proactively put in place to engage your entire team around business development.
Recently I was required to provide a brief run down of psychometric tests and their applications. There's more than I thought. Hopefully someone else might find this powerpoint useful too.
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Remote sensing and monitoring are changing the mining industry for the better. These are providing innovative solutions to long-standing challenges. Those related to exploration, extraction, and overall environmental management by mining technology companies Odisha. These technologies make use of satellite imaging, aerial photography and sensors to collect data that might be inaccessible or from hazardous locations. With the use of this technology, mining operations are becoming increasingly efficient. Let us gain more insight into the key aspects associated with remote sensing and monitoring when it comes to mining.
Explore our most comprehensive guide on lookback analysis at SafePaaS, covering access governance and how it can transform modern ERP audits. Browse now!
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
Accpac to QuickBooks Conversion Navigating the Transition with Online Account...PaulBryant58
This article provides a comprehensive guide on how to
effectively manage the convert Accpac to QuickBooks , with a particular focus on utilizing online accounting services to streamline the process.
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
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Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
1. Loyalty Based Management
(The Loyalty Effect)
Frederick F. Reichheld
‘The Loyalty Effect’ Harvard Business
School Press, 1996.
2. Who is Fred Reichheld?
• Director of the leading
strategy consultants Bain & Co
• Highly respected speaker and
writer on business strategy.
• Published ‘The Loyalty Effect’
in 1996.
• Also ‘The Ultimate Question’
and ‘Loyalty Rules’.
• Blog:
http://www.netpromoter.com
/netpromoter_community/blo
gs/fred_reichheld
• You can also check his talks on
YouTube.
3. The problem identified by Reichheld:
Most corporations lose:
• 50% of customers ever 5 years
• 50% of employees in 4 years
• 50% of investors in less than one year
Disloyalty stunts company growth
by 25% to 50%
4. Reichheld’s solution:
• Customer retention is the best way to
measure how well a company creates value
• Creating value for customers builds loyalty
• Loyalty builds growth and profit
The fundamental mission of business
is not Profit but Value Creation
5. “Business must be
run at a profit , else
it will die. But when
anyone tries to run a
business solely for
profit, then also the
business must die,
for it no longer has a
reason for
existence.” Henry Ford
6. The benefits of Customer Loyalty:
• Increased • Long term
revenues and employees reduce
market share costs and improve
• Sustainable quality
growth attracts • Long term
and keeps the best customer relations
employees exclude
competitors
7. The economics of customer retention
The company needs to quantify and profile the lifecycle
of profits from long term customers:
• Lower acquisition costs • Lower operating costs
– Less promotion, smaller – Long term customers
sales force make fewer demands on
admin and servicing
• Long term base profits
– Sustained profit on basic
• Customer referrals
purchases – Bring the right
customers
• Revenue growth
– Customers spend more
• Premium pricing
over time – Satisfied customers are
less price sensitive
8. Reichheld’s Loyalty Management
Strategy
1. Build a superior 5. Earn employee
customer value loyalty
proposition 6. Gain cost advantage
2. Find the right through superior
productivity
customers
7. Find the right
3. Earn customer investors
loyalty 8. Earn investor
4. Find the right loyalty
employees
9. 1: Build a superior customer value
proposition
Develop a value proposition that offers selected key
customers truly superior value in compared to the
competition
• Better quality products –
– better performance / design
– Zero defects
• Better quality service
– at each point of customer contact
– high performing retail intermediaries
– don’t exploit ‘hostage’ customers
10. 2: Find the right customers
Target customers. Look for:
• Inherently ‘loyal’ customers –
– prefer stable, long term supplier relations
• Profitable customers
– Spend more, prompt payers, need less service
• Customers that value your offering more than
that of the competition
– Fit your strengths with customer needs
11. 3: Earn customer loyalty
Aim to retain customers to increase life time
value. Manage loyalty by designing customer-
value into:
• The product offer
• Pricing policies
• Employee incentives & bonuses
• Service level delivery
12. 4: Find the right employees
Be selective in the people you employ. Look for
people who:
• Have character and share company values
• Have skills to achieve high productivity in
long-term careers
Develop policies which attract, hold, motivate,
recognise, reward and serve people who deliver
customer value.
13. 5: Earn employee loyalty
• Invest heavily in developing and training
employees
• Career paths and company structures which
enable staff to make the most of their abilities
• Share the ‘productivity surplus’ with staff
Loyal employees build loyal customers
14. 6: Gain cost advantage through
superior productivity
• Better employee and customer loyalty grows a
‘productivity surplus’
• Employees earn better salaries, but bonuses take
a lower percentage of revenues compared to
competitors
• Correctly structured incentives also cut expense
claims
Reduce costs by making it possible for employees to
earn more by providing higher levels of customer
value and service
15. “Cutting wages does
not reduce costs – it
increases them. The
only way to get a
low cost product is
to pay a high price
for a high grade of
human service...”
Henry Ford
16. 7: Find the right investors
• Mutual and private-owned companies are
inherently more stable and focuses on the
long term
• Public companies should target long-term
investors / partners
• Investments based on stock market
expectations do not foster long term growth
• Growth comes from delivering customer
value, not shareholder value
17. 8: Earn investor loyalty
• Investors should earn fair return before
bonuses are paid to managers
• Managers are incentivised to re-invest profits
where they will create maximum (customer)
value
18. What else?
• Examine failures honestly
– why did a key customer defect?
• How do you measure success?
• Track retention / defection rates of customers, employees,
investors
• Develop tools and training to analyse failures
and continuously improve value
19. Strive to create so much value for
customers that there is plenty
leftover for employees and investors
20. The service-profit chain (Heskith)
Employee
Satisfaction
Profit and Employees
Growth Loyalty
Internal
Customer
Quality
Productivity
Loyalty
Customer
Value
Satisfaction
21. Other sources:
• Heskett, James L., Jones, Thomas O., Loveman, Gary
W., Sasser, W. Earl, and Schelsinger, Leonard A. "Putting
the Service Profit Chain to Work", Harvard Business
Review, (March-April 1994) 164-174
• Heskett, James L., Sasser, W. Earl Jr., and Schlesinger,
Leonard A. “The Service Profit Chain: How Leading
Companies Link Profit and Growth to Loyalty,
Satisfaction, and Value.” The Free Press, New York,
1997.
• Reichheld, Fredrick and Sasser, W. Earl Jr. "Zero
Defections: Quality Comes to Services." HBR
September-October 1990
Editor's Notes
In the service-profit chain employee satisfaction is a result of ‘internal quality’ which is measured by the feelings that employees have toward their jobs, colleagues, and companies. This is related to a number of elements that have to be present to ensure employee satisfaction such as workplace design, job design, employee selection, training and development, rewards and recognition, and tools for serving customers.