Maximizing Customer Lifetime Value Customer Profitability Customer Equity Lifetime Value.

Slides:

Advertisements

Similar presentations

Developing New Market Offerings

Advertisements

Building Customer Satisfaction, Value, and Retention

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

MARKETING MANAGEMENT 14th edition

Creating Customer Value, Satisfaction, and Loyalty

Copyright © 2003 Prentice-Hall, Inc. 2-1 Chapter 2 Adapting Marketing To The New Economy by PowerPoint by Milton M. Pressley University of New Orleans.

Copyright © 2003 Prentice-Hall, Inc. 2-1 The Internet will create new winners and bury the laggards. The Internet will create new winners and bury the.

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”

Overview of CRM and Web-based Technologies. The current business environment is a dynamic mix of growing competition, new and emerging channels, and changing.

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

5 Creating Customer Value, Satisfaction, and Loyalty

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

BUS7450 Strategic Marketing Management

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

©2003 Prentice Hall, Inc.To accompany A Framework for Marketing Management, 2 nd Edition Slide 0 in Chapter 2 Chapter 2 Adapting Marketing to the New Economy.

5 Creating Customer Value, Satisfaction, and Loyalty

MKT 346: Marketing of Services Dr. Houston Chapter 12: Managing Relationships and Building Loyalty.

Creating Customer Value, Satisfaction, and Loyalty

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

Customer Relationship Management (CRM)

1 Chapter 21: Customer Relationship Management (CRM) Prepared by Amit Shah, Frostburg State University Designed by Eric Brengle, B-books, Ltd. Copyright.

three Core strategy PART Chapter 8: Relationship marketing

Customer Relationship Management Key Concepts. Customer Relationship Management Strategy Link all processes of the company from its customers through.

Copyright Cengage Learning 2013 All Rights Reserved 1 Chapter 21: Customer Relationship Management (CRM) Introduction to Designed & Prepared by Laura Rush.

BGS Customer Relationship Management

Customer Relationship Management System. o CRM introduction o Functioning targets and roles o Aspects of CRM o Architecture o Strategies o Pitfalls What.

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.

Copyright © 2009 Pearson Education South Asia Pte Ltd

Marketing Unit, Slide No. 1 Build Profitable Customer Relationships Step 4 in the Marketing Process.

Creating Customer Value, Satisfaction, and Loyalty

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

Group Names & Strap Lines

Kotler Keller PhillipKevin Lane Marketing Management 14e.

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

Marketing Management Dr. Doni P. Alamsyah, MM Meeting 3.

MARKETING REVISED.

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.

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.

CUSTOMER RELATIONSHIP MANAGEMENT. “CRM is an IT enabled business strategy, the outcome of which to optimize profitability, revenue and customer satisfaction.

CUSTOMER RELATIONSHIP MANAGEMENT

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

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

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

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

5 Creating Long-Term Loyalty Relationships

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

Presentation transcript:

Maximizing Customer Lifetime Value Customer Profitability Customer Equity Lifetime Value

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

What is Customer Relationship Management? CRM is the process of carefully managing detailed information about individual customers and all customer touchpoints to maximize customer loyalty.

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 five 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.

Figure 5.5 The Customer Development Process Prospects Suspects Disqualified First-time customers Repeat customers ClientsMembers Partners Ex-customers

Creating Customer Evangelists

Database Key Concepts Customer database Database marketing Mailing list Business database Data warehouse Data mining

Using the Database To identify prospects To target offers To deepen loyalty To reactivate customers To avoid mistakes