what are customer value, satisfaction, and loyalty, and how can companies deliver them ?
TRANSCRIPT
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What Are Customer Value, Satisfaction, And Loyalty,
And How Can Companies Deliver Them ?
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Successful Marketers are those who carefully manage their
customer base
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Creating Loyal Customers
is at the heart of every business
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The only value that your company will ever create is the value that comes from Customers :
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The only value that your company will ever create is the value that comes from Customers :
The ones you have nowand the ones you will have in the future
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Without Customers, there is no Business
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No Customers = Checkmate
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Customers are Value Maximizers
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Buyers will buy from the firm that they perceive to offer the highest customer
delivered value
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Customer Perceived Value is the difference betweenTotal Customer Benefit and Total Customer Cost
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Customer Perceived Value
Total Customer Benefit
Total Consumer Cost
= -
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Customer Perceived Value
Total Customer Benefit
Total Consumer Cost
= -
Monetary Cost
Time Cost
Energy Cost
Psychological Cost
ProductBenefit
ServicesBenefit
PersonnelBenefit
Image Benefit
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How to Sell effectively ?
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How to Sell effectively ?
Higher Total Customer Benefit
Lower Total Customer Cost
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Delivering High Customer Value
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Delivering High Customer Value
The Value Proposition System consists of a cluster of benefits that the company promises to deliver
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Delivering High Customer Value
The Value Proposition System consists of a cluster of benefits that the company promises to deliver
It is more than the core positioning of the offering
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For example, Volvo’s core positioning
has been safety !
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But the buyer is promised more than just a safe car
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Also ensure an efficient Value Delivery System
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A Customer’s Satisfaction is a function of the product’s perceived performance and the buyer’s
expectations
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If the performance falls short of the expectations :
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If the performance falls short of the expectations :
The Customer isDissatisfied !
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If the performance exceeds the
expectations :
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If the performance exceeds the
expectations :
The Customer isSatisfied !
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High Satisfaction leads toHigh Customer Loyalty
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But Customer Satisfaction does not ‘guarantee’ Customer Loyalty !
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Undertake Customer surveys – Get to know your Customer
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Address your Customer complaints ASAP !
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After All,Your Most Unhappy
CustomersAre Your Greatest
Source Of Learning !
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Slides by : Priyanjit Biswas