through Quality, Service, and Value

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Presentation transcript:

through Quality, Service, and Value Chapter 2 Building Customer Satisfaction through Quality, Service, and Value Marketing Management Tenth Edition Philip Kotler

Objectives Define value & satisfaction - understand how to deliver them The nature of high-performance businesses How to attract & retain customers Improving customer profitability Total quality management

Determinants of Customer Delivered Value Image value Personnel value Services value Product value Total customer value Customer delivered value Monetary cost Time cost Energy cost Psychic cost Total customer cost

Satisfaction is a person’s feelings of pleasure or disappointment resulting from comparing a product’s perceived performance (or outcome) in relation to his or her expectations.

High Performance Business Stake- holders Set strategies to satisfy key... Processes By improving critical business... Resources Organization and aligning...

The Generic Value Chain Firm infrastructure Out- bound Logistics Inbound Logistics Opera- tions Market- ing and sales Margin Primary Activities Support Activities Human resource management Technology Development Procurement Serv- ice

Levi Strauss’ Value-Delivery Network Du Pont (Fibers) Order Delivery Order Milliken (Fabric) Levi’s (Apparel) Order Order Sears (Retail) Customer Delivery Delivery Delivery Competition is between networks, not companies. The winner is the company with the better network.

Satisfied Customers: Are loyal longer Buy more (new products & upgrades) Spread favorable word-of-mouth Are more brand loyal (less price sensitive) Offer feedback Reduce transaction costs

Levels of Relationship Marketing High margin Medium Low Many customers/ distributors Medium number of Few Accountable Reactive Basic or reactive Proactive Accountable Reactive Accountable Proactive Partnership

Customer Development Suspects Prospects Clients Advocates Partners First-time customers Repeat customers Clients Advocates Partners Inactive or ex-customers Disqualified prospects

Customer/Product Profitability Analysis Customers P1 Highly profitable product P2 Profitable P3 Losing P4 Mixed-bag Products + High profit customer + - Mixed-bag customer + - Losing customer

Competitive advantage The Profit Triangle Profit Value creation Internal operations Competitive advantage

Quality Quality is the totality of features and characteristics of a product or service that bear on its ability to satisfy stated or implied needs. #1

Review Define value & satisfaction - understand how to deliver them The nature of high-performance businesses How to attract & retain customers Improving customer profitability Total quality management