The document summarizes 10 key concepts from Chapter 5 of the marketing textbook about customer value, satisfaction, and loyalty. The concepts discuss how customers maximize value, the importance of customer satisfaction for loyalty, measuring quality and satisfaction, maximizing lifetime customer value, managing customer relationships through databases, attracting and retaining customers, and developing customer retention processes. Maintaining current customers is emphasized as less costly than acquiring new ones, and small reductions in defection rates can significantly increase profits.

1. TOP 10 Learning Concepts Chapter 5: Customer Value, Satisfaction, and Loyalty Cabunilas, Michelle M. 13 April 2011 http://cabunilasmichelle.blogspot.com Kotler, Keller, Marketing Management, 13th ed.

3. Concept 1: Customer Value, Satisfaction, and Loyalty http://cabunilasmichelle.blogspot.com Kotler, Keller, Marketing Management, 13th ed. Customers 

4. http://cabunilasmichelle.blogspot.com Kotler, Keller, Marketing Management, 13th ed. Customer Perceived Value Image Benefit Psycho. Cost Concept 1: Customer Value, Satisfaction, and Loyalty Personal Benefit Energy Cost Services Benefit Time Cost Product Benefit Total Customer Banefit Monetary Cost Total Customer Cost Determinants Of Customer Perceived Value

5. Concept 1: Customer Value, Satisfaction, and Loyalty http://cabunilasmichelle.blogspot.com Kotler, Keller, Marketing Management, 13th ed.

6. Concept 2: Customer Satisfaction http://cabunilasmichelle.blogspot.com Kotler, Keller, Marketing Management, 13th ed. A person’s feelings of pleasure or disappointment that result from comparing a product’s perceived performance to their expectations. Customers

7. Concept 2: Customer Satisfaction http://cabunilasmichelle.blogspot.com Kotler, Keller, Marketing Management, 13th ed. Measurement Techniques for Customer Satisfaction: PERIODIC SURVEYS MYSTERY SHOPPER LOSS RATE FROM CUSTOMERS MONITORING PERFORMANCE

8. Concept 3: Product and Service Quality http://cabunilasmichelle.blogspot.com Kotler, Keller, Marketing Management, 13th ed. WHAT IS Is the total feature and characteristic of a product or service that has an ability to satisfy needs .

9. Concept 3: Product and Service Quality http://cabunilasmichelle.blogspot.com Kotler, Keller, Marketing Management, 13th ed. Product & Service Quality Customer Satisfaction Company Profit

10. Concept 3: Product and Service Quality http://cabunilasmichelle.blogspot.com Kotler, Keller, Marketing Management, 13th ed.

11. Concept 4: Maximize Customer Lifetime Value http://cabunilasmichelle.blogspot.com Kotler, Keller, Marketing Management, 13th ed. Customer Profitability Lifetime Value Customer Equity Top 20% customers generates 80% or more of company’s profits Most profitable 20% customers contribute as much as 150%-200% profit. Least profitable 10%-20% cutomers lose 100% profit.

12. Concept 5: Customer Relationship Management http://cabunilasmichelle.blogspot.com Kotler, Keller, Marketing Management, 13th ed. Process of managing detailed information about individual customers & all customer “touch point” to maximize customer loyalty. Customer encounters the brand and product—from actual experience to personal or mass communications to casual observation.

14. Concept 5: Customer Relationship Management http://cabunilasmichelle.blogspot.com Kotler, Keller, Marketing Management, 13th ed.

15. Concept 6: Attracting and Retaining Customers http://cabunilasmichelle.blogspot.com Kotler, Keller, Marketing Management, 13th ed. Customers

16. Concept 6: Attracting and Retaining Customers http://cabunilasmichelle.blogspot.com Kotler, Keller, Marketing Management, 13th ed.

17. Concept 7: Increase Customer Value http://cabunilasmichelle.blogspot.com Kotler, Keller, Marketing Management, 13th ed. REDUCE RATE OF CUSTOMER DEFECTION INCREASE LONGEVITY OF CUSTOMER REL. ENHANCING GROWTH POTENTIAL THROUGH “ SHARE OF WALLET”, CROSS-SELLING, AND UP-SELLING MAKING LOW-PROFIT CUSTOMERS MORE PROFITABLE FOCUSING DISPROPORTIONATE EFFORT ON HIGH-VALUE CUSTOMER

19. Concept 8: Building Loyalty http://cabunilasmichelle.blogspot.com Kotler, Keller, Marketing Management, 13th ed.

20. Concept 9: Database Marketing http://cabunilasmichelle.blogspot.com Kotler, Keller, Marketing Management, 13th ed. Collection of information about customers that is current, accessible, and actionable for marketing purposes. Process of building, maintaining, and using customer databases to contact, transact, and build customer relationships.

21. Concept 9: Database Marketing http://cabunilasmichelle.blogspot.com Kotler, Keller, Marketing Management, 13th ed. IDENTIFY PROSPECTS DECIDE WHO TO OFFER DEEPEN CUSTOMER LOYALTY REACTIVATE CUSTOMER PURCHASES AVOID CUSTOMER MISTAKES

22. Concept 10: Customer Dev’t. Process and Retention http://cabunilasmichelle.blogspot.com Kotler, Keller, Marketing Management, 13th ed. potentials prospects First time customers Repeat customers clients members advocates partners In-active or Ex-customers Disqualified prospects

25. TOP 10 Learning Concepts Chapter 5: Customer Value, Satisfaction, and Loyalty Cabunilas, Michelle M. 13 April 2011 http://cabunilasmichelle.blogspot.com Kotler, Keller, Marketing Management, 13th ed.