what are customer value, satisfaction, and loyalty, and how can companies deliver them ?
TRANSCRIPT
What Are Customer Value, Satisfaction, And Loyalty,
And How Can Companies Deliver Them ?
Successful Marketers are those who carefully manage their
customer base
Creating Loyal Customers
is at the heart of every business
The only value that your company will ever create is the value that comes from Customers :
The only value that your company will ever create is the value that comes from Customers :
The ones you have nowand the ones you will have in the future
Without Customers, there is no Business
No Customers = Checkmate
Customers are Value Maximizers
Buyers will buy from the firm that they perceive to offer the highest customer
delivered value
Customer Perceived Value is the difference betweenTotal Customer Benefit and Total Customer Cost
Customer Perceived Value
Total Customer Benefit
Total Consumer Cost
= -
Customer Perceived Value
Total Customer Benefit
Total Consumer Cost
= -
Monetary Cost
Time Cost
Energy Cost
Psychological Cost
ProductBenefit
ServicesBenefit
PersonnelBenefit
Image Benefit
How to Sell effectively ?
How to Sell effectively ?
Higher Total Customer Benefit
Lower Total Customer Cost
Delivering High Customer Value
Delivering High Customer Value
The Value Proposition System consists of a cluster of benefits that the company promises to deliver
Delivering High Customer Value
The Value Proposition System consists of a cluster of benefits that the company promises to deliver
It is more than the core positioning of the offering
For example, Volvo’s core positioning
has been safety !
But the buyer is promised more than just a safe car
Also ensure an efficient Value Delivery System
A Customer’s Satisfaction is a function of the product’s perceived performance and the buyer’s
expectations
If the performance falls short of the expectations :
If the performance falls short of the expectations :
The Customer isDissatisfied !
If the performance exceeds the
expectations :
If the performance exceeds the
expectations :
The Customer isSatisfied !
High Satisfaction leads toHigh Customer Loyalty
But Customer Satisfaction does not ‘guarantee’ Customer Loyalty !
Undertake Customer surveys – Get to know your Customer
Address your Customer complaints ASAP !
After All,Your Most Unhappy
CustomersAre Your Greatest
Source Of Learning !
Slides by : Priyanjit Biswas
Created by :
PRIYANJIT BISWAS,JADAVPUR UNIVERSITY
During an Internship by :
Prof. SAMEER MATHUR,IIM LUCKNOW
www.IIMInternship.com