marketing concept

Core Marketing Concepts :Core Marketing Concepts


Building Customer Value, satisfaction & retention. :Building Customer Value, satisfaction & retention.


Slide 3 :Basic Marketing task-”to create customers”.


Slide 4 :Value!


Customer Perceived Value :Customer Perceived Value Customer Perceived Value is the difference between customer’s evaluation of all the benefits and all the costs of an offering relative to perceived alternatives. Total customer value is the perceived monetary value of the bundle of economic, functional, and psychological benefits customers expect from a given market offering. Total customer cost is the bundle of costs customers expect to incur in evaluating, obtaining, using and disposing of the given market offering.


Slide 6 :Customer Delivered Value Total Customer Value Total Customer Cost Product Value Service Value Personnel Value Image Value Monetary Cost Time Cost Energy Cost Psychic Cost


Total Customer Satisfaction :Total Customer Satisfaction Satisfaction is a person’s feeling of pleasure or disappointment resulting from comparing a product’s perceived performance in relation to his or her expectations. Expectations Performance Performance> Expectations => A delighted customer Performance Dissatisfied Customer Performance=Expectations => Satisfied Customer


Customer Loyalty :Customer Loyalty It is the behavior customers exhibit when they make frequent repeat purchases of a brand.


Slide 9 :Emotional Bond


Customer Expectations :Customer Expectations Too high/Too low TCS-Xerox


Delivering high customer value :Delivering high customer value High CPV => Purchase Post purchase performance>=Expectations => Satisfaction/Delight Satisfaction/Delight => Customer loyalty Customer Loyalty => Repeat Purchase => Company’s Profitability Design a competitively superior value proposition aimed at a specific market segment, backed by a superior value-delivery system.


Delivering high customer value :Delivering high customer value Value Proposition A cluster of benefits the company promises to deliver. It is more than the core positioning of the offering. Experience customers will gain from the offering and from their relationship with the supplier => Total experience customer’s can expect. Value-Delivery System All the experiences customer will have on the way to obtaining and using the offering. Don’t forget the Competitor


Measuring Satisfaction :Measuring Satisfaction Complaint & Suggestion system Customer Satisfaction Surveys Ghost Shopping Lost customer Analysis Tools for tracking & measuring Customer Satisfaction Customer Satisfaction Goal Marketing Tool


Marketing Mix :Marketing Mix


Slide 15 :Set of marketing tools the firm uses to pursue its marketing objectives in the target market. A cake Mix => Marketing Mix