Creating Customer Value, Satisfaction, and Loyalty

Slides:

Advertisements

Similar presentations

Developing New Market Offerings

Advertisements

MARKETING MANAGEMENT 12 th edition 5 Creating Customer Value, Satisfaction, and Loyalty KotlerKeller.

MARKETING MANAGEMENT 14th edition

18/3/2003 Chapter 5 Building Customer Satisfaction, Value and Retention and Loyalty.

Creating Customer Value, Satisfaction, and Loyalty

Copyright 2009, Prentice-Hall, Inc.4-1 A Framework for Marketing Management Chapter 4 Creating Customer Value, Satisfaction, and Loyalty.

Marketing Management • 14e

Creating Customer Value, Satisfaction, and Loyalty Marketing Management, 13 th ed 5.

5 Creating Long-Term Loyalty Relationships

5 Creating Long-Term Loyalty Relationships

Customer Value, Satisfaction and Loyalty. The New “Managerial Paradigm”

5-1 MARKETING MANAGEMENT Creating Customer Value, Satisfaction and Loyalty.

5 Creating Customer Value, Satisfaction, and Loyalty

Creating Customer Value and Customer Relationships

Creating Customer Value, Satisfaction, and Loyalty

MKTG131 – Marketing Management.  To understand how companies deliver customer value and satisfaction.  To identify the factors that make a high performance.

Creating Customer Value, Satisfaction, and Loyalty

©2003 Prentice Hall, Inc.To accompany A Framework for Marketing Management, 2 nd Edition Slide 0 of 18 Chapter 3 Building Customer Satisfaction, Value,

Customer Value, Satisfaction and Loyalty. The New “Managerial Paradigm”

1 ENT4310 Business Economics and Marketing Needs, Value, Satisfaction and Loyalty Arild Aspelund IØT, NTNU.

5 Creating Customer Value, Satisfaction, and Loyalty

Creating Customer Value, Satisfaction, and Loyalty

Lecture 5 Creating Customer Value, Satisfaction and Loyalty By: Dr Shahinaz Abdellatif.

three Core strategy PART Chapter 8: Relationship marketing

Creating Customer Value, Satisfaction, and Loyalty

Creating Customer Value, Satisfaction, and Loyalty Marketing Management, 13 th ed 5.

A FRAMEWORK for MARKETING MANAGEMENT

MARKETING MANAGEMENT 12 th edition 5 Creating Customer Value, Satisfaction, and Loyalty KotlerKeller.

Creating Customer Value and Customer Relationships

©2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition Upper Saddle River, NJ Kotler, Bowen, and Makens Chapter 11 Building.

Creating Customer Value, Satisfaction, and Loyalty

MARKETING MANAGEMENT 12 th edition 5 Creating Customer Value, Satisfaction, and Loyalty KotlerKeller.

Kotler Keller PhillipKevin Lane Marketing Management 14e.

Creating Customer Value, Satisfaction, and Loyalty LECTURE-5.

Objectives Define value & satisfaction - understand how to deliver them The nature of high-performance businesses How to attract & retain customers.

CHAPTER 2 BUILDING CUSTOMER SATISFACTION, VALUE, AND RETENTION.

5 Creating Long-Term Loyalty Relationships 1. Figure 5.1 Customer-Orientations Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 5-2.

C REATING C USTOMER V ALUE, S ATISFACTION, AND L OYALTY MBA 649 : Marketing Management M Wahidul Islam Fall 2014 LECTURE 5.

Session 1. Changes in Marketing OLD MARKETING OLD MARKETING –Transaction oriented –Market share oriented –All customers are equal –Marketers sell –4P.

Sultan Ahmed 1 Topic 04. Sultan Ahmed 2 You would be able to answer the followings after reading the chapter: 1.Definitions: perceived value, satisfaction,

MARKETING MANAGEMENT 12 th edition 5 Creating Customer Value, Satisfaction, and Loyalty KotlerKeller.

Kotler Keller PhillipKevin Lane Marketing Management 14e.

5 Creating Customer Value, Satisfaction, and Loyalty 1.

CUSTOMER RELATIONSHIP MANAGEMENT

Maximizing Customer Lifetime Value Customer Profitability Customer Equity Lifetime Value.

Building Customer Relationship. Customer Value Total Customer Value (Product,Services, Personnel & Image Value MinusTotal Customer Cost( Monetary,Time,

MARKETING MANAGEMENT Creating Customer Value and Loyalty Buyer Behavior.

A Framework for Marketing Management International Edition 4 Creating Long-Term Loyalty Relationships 1.

5 Creating Long-Term Loyalty Relationships

4 Creating Long-Term Loyalty Relationships

Creating Customer Value, Satisfaction, and Loyalty

To accompany A Framework for Marketing Management, 2nd Edition

Arab World Edition Kotler, Keller, Hassan, Baalbaki and Shamma

through Quality, Service, and Value

5 Creating Long-Term Loyalty Relationships

Arab World Edition Kotler, Keller, Hassan, Baalbaki and Shamma

Creating Customer Value, Satisfaction, and Loyalty

Creating Customer Value, Satisfaction, and Loyalty

Chapter 03: Creating Long-term Loyalty Relationships

MARKETING MANAGEMENT 12th edition

5 Creating Long-Term Loyalty Relationships

through Quality, Service, and Value

5 Creating Long-Term Loyalty Relationships

Chapter 11 Building Customer Loyalty through Quality

Determinants of Customer Delivered Value

MARKETING MANAGEMENT Adapting marketing for the new economy and Creating Customer Value, Satisfaction, and Loyalty Kotler Keller.

through Quality, Service, and Value

Objectives Define value & satisfaction - understand how to deliver them The nature of high-performance businesses How to attract & retain customers Improving.

Chapter 2 Building Customer Satisfaction, Value, and Retention by

Presentation transcript:

Creating Customer Value, Satisfaction, and Loyalty MARKETING MANAGEMENT Creating Customer Value, Satisfaction, and Loyalty

Chapter Questions What is customer, satisfaction, and loyalty? How can companies deliver value, satisfaction, and loyalty? What is the lifetime value of customers? How can companies both attract and retain customers?

A Customer-Oriented Model?

The Value Proposition The cluster of benefits the company promises to deliver

Measuring Satisfaction Periodic Surveys Customer Loss Rate Mystery Shoppers Monitor competitive performance

Loyalty A commitment to re-buy or re-patronize a product or service in the future.

Building Loyalty Partnership Proactive Accountable Reactive Basic

Maximizing Customer Lifetime Value Profitability Customer Equity Lifetime Value

Customer-Product Profitability Analysis

Estimating Lifetime Value Annual customer revenue: $500 Average number of loyal years: 20 Company profit margin: 10 Customer lifetime value: $1000

Framework for CRM Identify prospects and customers Differentiate customers by needs and value to company Interact to improve knowledge Customize for each customer

CRM Strategies Reduce the rate of defection Increase longevity Enhance “share of wallet” Terminate low-profit customers Focus more effort on high-profit customers

Customer Retention Acquisition of customers can cost 5 times more than retaining current customers. The average customer loses 10% of its customers each year. A 5% reduction to the customer defection rate can increase profits by 25% to 85%. The customer profit rate increases over the life of a retained customer.

Customer-Development Process Suspects Prospects Disqualified First-time customers Repeat customers Clients Members Partners Ex-customers

Reducing Customer Defection Define and measure retention rate. Distinguish causes of customer attrition. Estimate profit loss associated with loss of customers. Assess cost to reduce defection rate. Gather customer feedback.

Forming Strong Customer Bonds Add financial benefits Add social benefits Add structural ties