what are customer value,satisfaction,loyalty and how can companies deliver them?
TRANSCRIPT
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What are the customer value,satisfaction and
loyalty; and how can companies deliver them?
1.
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“Successful managers 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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“NO Customers = No Business”
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Interact with thy customer.
Tony Fernandes,CEO,
Asia Air
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Customer perceived value = Total customer
benefits - Total customer cost
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How to sell to a buyer?
Total customer benefit
Total customer cost
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How to explain and influence erratic customer choices?
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The buyer might be under orders to buy at a lower price.
Solution Possibility
Convince the buyer about the long term benefits and customer value
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The buyer will retire before the company realises its mistake.
Solution Possibility
Convince the other people in the company that the product has great
customer value.
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The buyer enjoys a long-term relationship with the rival company.
Solution Possibility
Convince the buyer that the rival company’s product is below par.
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Delivering high customer value
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Value proposition
What the customer buys…
What he expects…
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Ensure a proper value delivery system
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Customer satisfaction : Comparison between product’s performance to expectations.
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Expectations > Product performance
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“The ultimate goal is customer satisfaction”
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Monitoring customer satisfaction
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Customer satisfaction does not guaranty customer loyalty.
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Undertake periodic customer surveys.
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Only 5% customers ever
complain!
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Addressing customer complaints
Set up a hotline
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Addressing customer complaints
Contact the customer ASAP
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Addressing customer complaints
Take responsibility
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Addressing customer complaints
Resolve the problem swiftly
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“Quality is the best business plan.”
~John Lesseter