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

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Presentation transcript:

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 Total customer value Monetary cost Time cost Energy cost Psychic cost Total customer cost Total customer cost Customer delivered value Customer delivered value

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.

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

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

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

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 Many customers/ distributors Medium number of customers/ distributors Few customers/ distributors AccountableProactivePartnershipProactiveAccountableReactiveAccountableReactive Basic or reactive High margin Medium margin Low margin

Inactive or ex-customers Customer Development PartnersAdvocatesClients Repeat customers First-time customers Suspects Prospects Disqualified prospects

Customer/Product Profitability Analysis P1P1 Highly profitable product P2P2 Profitable product P3P3 Losing product P4P4 Mixed-bag product ProductsProducts High profit customer + - Mixed-bagcustomer Losing customer C1C1 C2C2 C3C3 Customers

The Profit Triangle Value creation Competitive advantage Internal operations ProfitProfit

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