what are customer value, satisfaction and loyalty and how can companies deliver them

BUILDING CUSTOMER VALUE, SATISFACTION AND LOYALTY….

HOW??

aCreating loyal customers is the heart of every business

a The only value your company will ever create is the value that comes

from customers

a CUSTOMER PERCEIVED VALUE

Total customer

benefit

Total customer

cost

Customer Perceived

Value

a

Customer Value AnalysisIdentify major attributes and

customer values

Assess their importance

Assess the company’s

and the competitors performance

Examine how the

customers rate the

performance

Monitor consumers value over

time

a

Buyers operate under various constraints and occasionally make choices that give more weight to

their personal benefit.

a

Delivering High Custom

er Value

a LOYALTY

A deeply held commitment to repatronize a product or

a service in the future despite of efforts and situations having the

potential to cause switching behavior

a

CUSTOMER SATISFACTION

When is a Customer Satisfied?

a WHEN

ExPECTATION

=

PERFORMANCE

a

Monitoring Satisfaction

A very important

step

a

Periodic Surveys help in tracking customer satisfaction directly

a

Customer Complaints

A single unhappy customer is not good

for the company,Consumer complaints

should be resolved swiftly and patiently

a

Higher levels of quality results in

higher levels of customer satisfaction

a

Disclaimer

Created by Palak Goyal, IIT Kharagpur during an internship by Prof. Sameer Mathur, IIM Lucknow

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