chapter 5 kotler customer value, satisfaction and loyalty
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Chapter 5
Customer Value, Satisfaction and Loyalty
Mark Angelo Reyes MARKMA
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Customers – marketing is the art of attracting and
keeping profitable customers
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Total Customer Benefit – the actual benefits afforded by the product
and/or service to the customer
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Total Customer Cost - the monetary, time,
energy and psychological cost components of the
product/service
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Perceived Value - The total perceived value of the customers is determined by the
difference of the Total Customer Benefit and Total Customer Cost
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More Benefits than Costs – Does the benefits out weight the
costs?
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Competitive Advantage – Are the products/services that you offer superior to competitors/alternatives?
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Customer Satisfaction – Analyze what the customer holds
important to make it easier to meet the requirements. Once met, there is
customer satisfaction.
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Customer Satisfaction – Quantifiable measurement
methodologies are available to monitor satisfaction levels of the customers.
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Customer Loyalty – Customer satisfaction almost
always leads to customer loyalty (Loyalty is a
commitment to repurchase or re-patronize a preferred
product )
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Profits – with customer loyalty comes
company profits
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CustomerSatisfaction Customer Loyalty Profits
Competitive Advantage
More Benefits than Costs
Customer Satisfaction
Perceived ValueTotal Customer
CostTotal Customer
Benefit