Marketing 101 chapter2 building customer satisfaction

[object Object],[object Object],CHAPTER 2

An excerpt from the book: ,[object Object],[object Object],[object Object],[object Object],[object Object]

How To Win Customers and Out-performing Competitors: ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

WHAT ARE CUSTOMER VALUE AND SATISFACTION? ,[object Object],[object Object]

WHAT IS CUSTOMER DELIVERED VALUE? ,[object Object],[object Object],[object Object]

DETERMINANTS OF CUSTOMER DELIVERED VALUE: PRODUCT VALUE SERVICES VALUE PERSONNEL VALUE IMAGE VALUE TOTAL CUSTOMER VALUE MONETARY COST TIME COST ENERGY COST PSYCHIC COST TOTAL CUSTOMER COST CUSTOMER DELIVERED VALUE

Delivered Value can be measured as a difference or ratio: ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Why buyers did not choose suppliers who offered high delivered value? ,[object Object],[object Object],[object Object],[object Object],[object Object]

Implications on Delivered Value Maximization: ,[object Object],[object Object]

CUSTOMER SATISFACTION : ,[object Object],[object Object],[object Object],[object Object],[object Object]

How do buyers form their expectation? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

What high satisfaction can do? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

HOW TO ACHIEVE HIGHLY SATISFIED CUSTOMERS? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

TOOLS FOR TRACKING AND MEASURING CUSTOMER SATISFACTION: ,[object Object],[object Object],[object Object],[object Object]

CAUTIONS in Measuring Customer Satisfaction: ,[object Object],[object Object],[object Object],[object Object]

DELIVERING CUSTOMER VALUE and SATISFACTION... ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Core Business Process : ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

VALUE DELIVERY NETWORK : ,[object Object],[object Object],[object Object],[object Object],Du Pont (Fibers) Milliken (Fabric) Levi’s (Apparel) Sears (Retail) Customer

How can companies both attract and retain customers? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

B. The Need for Customer Retention: ,[object Object],[object Object],“ The cost of attracting a new customer is estimated to be 5x the cost of keeping a current customer happy.”

Two Ways to Strengthen Customer Retention: ,[object Object],[object Object],[object Object]

RELATIONSHIP MARKETING: THE KEY ,[object Object],Inactive or ex-customers Partners Advocates Clients Repeat customers First-time customers

Five(5) Levels of Company Investment in Customer-Relationship Building : ,[object Object],[object Object],[object Object],[object Object],[object Object]

Marketing Tools to Develop Stronger Customer Bonding and Satisfaction: ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

SOCIAL ACTIONS AFFECTING BUYER-SELLER RELATIONSHIPS: Good Things: Initiate positive phone calls Make recommendations Candor in language Use phone Show appreciation Make service suggestions Use “we” problem-solving language Get to problems Use jargon/shorthand Personality problems aired Talk of “our future together” Routinize responses Accept responsibility Plan the future Bad Things: Make only callbacks Make justifications Accommodate language Use correspondence Wait for misunderstandings Wait for service requests Use “owe-us” legal language Only responds to problems Use long-winded communications Personality problems hidden Talk about making good on the past Fire drill/ emergency responsiveness Shift blame Rehash the past

CUSTOMER PROFITABILITY ,[object Object],[object Object],[object Object]

How can companies practice Total Quality Marketing? ,[object Object],[object Object],[object Object],[object Object]

Total Quality is the key to value creation and customer satisfaction… ,[object Object],[object Object]

Responsibilities of a Marketing Manager: ,[object Object],[object Object],[object Object]

Thank you for listening … God bless us all…

Marketing 101 chapter2 building customer satisfaction

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Marketing 101 chapter2 building customer satisfaction