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

Slides:

Advertisements

Similar presentations

Seeking new ways Arina Negoda University of St. Thomas Master of Business Communications Minneapolis, Minnesota May 2008.

Advertisements

BA 631 Marketing Management

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

MARKETING MANAGEMENT 14th edition

Consumer Behavior Consumer Satisfaction ConsumerSatisfaction.

Copyright © 2002 by The McGraw-Hill Companies, Inc. All rights reserved.

Consumer Satisfaction 18 Chapter McGraw-Hill/Irwin Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved.

Creating Customer Value, Satisfaction, 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.

Chapter 5. Creating customer value, satisfaction, and loyalty Building customer value, satisfacation, and loyalty Traditional vs Modern customer oriented.

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

 Types of Customer Value  Customer Perceived Value  Satisfaction  Loyalty  Customer Satisfaction and Marketing Performance.

Creating Customer Value, Satisfaction, and Loyalty

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.

Customer Loyalty and Customer Retention. 2 Outline Definition of Customer Loyalty What Affects Customer Loyalty Relationship programs Customer life cycle.

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

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.

Dr. Saleh Alqahtani Chapter 1 Defining Marketing for the 21 st Century by.

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

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.

Maximizing Customer Lifetime Value Customer Profitability Customer Equity Lifetime Value.

Marketing 547 Post-Purchase Processes (and Consumer Satisfaction)

MARKETING MANAGEMENT Creating Customer Value and Loyalty Buyer Behavior.

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

1 Chapter 1 Marketing: Managing Profitable Customer Relationships.

5 Creating Long-Term Loyalty Relationships

4 Creating Long-Term Loyalty Relationships

Creating Customer Value, Satisfaction, and Loyalty

through Quality, Service, and Value

5 Creating Long-Term Loyalty Relationships

Building Customer Satisfaction, Value, and Retention by

Creating Customer Value, Satisfaction, and Loyalty

Creating Customer Value, Satisfaction, and Loyalty

Chapter 03: Creating Long-term Loyalty Relationships

Points-of-Parity and Points-of-Difference

MARKETING MANAGEMENT 12th edition

5 Creating Long-Term Loyalty Relationships

through Quality, Service, and Value

Creating Customer Value, Satisfaction, and Loyalty

5 Creating Long-Term Loyalty Relationships

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:

Customer Value, Satisfaction and Loyalty

The New “Managerial Paradigm”

Amazon epitomizes the “Customer-Oriented” Model

So does Jones Soda…

So does Threadless…

Value Benefits (actual or perceived) – Come from features or product attributes – May be economic, social or personal Costs (actual or perceived) – Economic/Financial Money Time Resources – Social/Personal Aggravation, worry, feelings of uncertainty, distress Social embarrassment, inferiority The Value Equation: Value = Benefits - Costs

The Value Proposition The whole cluster of benefits the company promises to deliver less the associated total cost.

Loyalty A deeply held commitment to re-buy or re-patronize a preferred product or service in the future despite exposure to situational influences and marketing efforts that have the potential to cause switching behavior.

The Customer-Development Process Prospects Suspects Disqualified First-time customers Repeat customers ClientsMembers Partners Ex-customers

JetBlue has loyal customers

Question du Jour Is it better to reward your most or least loyal customers?

Customer Satisfaction Two components – Cognitive (thinking, reasoning, logic) – Affective (emotional) Driven by Performance vs. Expectations Gap Articulation Issues – Consumers can almost always articulate the reasons for their dissatisfaction – Sometimes harder for consumers to articulate why they are satisfied

Measuring Satisfaction Periodic Surveys Customer Loss Rate & Returns Mystery Shoppers Word of Mouth

Product and Service 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.

Quality Conformance quality Performance quality

Customer Acquisition & Retention Acquisition of new customers is almost always far more expensive than retaining current customers. Consumers aren’t as brand loyal as they used to be. Small reductions in customer churn can have huge implications for profit gain. Customer profitability tends to increase over the life of a retained customer.

Quality Exercise How do consumers typically define QUALITY for the following products? – Flights – Dinner Out – Cars – Computers – Medical Services – Artwork – Hotel Stays