customer satisfaction

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Building Customer Satisfaction, Value, and Retention by:

3- 1 Building Customer Satisfaction, Value, and Retention by

Kotler on Marketing:

3- 2 It is no longer enough to satisfy customers. You must delight them. Kotler on Marketing

Defining Customer Value and Satisfaction:

3- 3 Defining Customer Value and Satisfaction Customer Perceived Value (CPV) Total customer value Total customer cost

Figure 3-1: Determinants of Customer Delivered Value:

3- 4 Figure 3-1: Determinants of Customer Delivered Value

Defining Customer Value and Satisfaction:

3- 5 Total Customer Satisfaction Satisfaction Customer Expectations Delivering High Customer Value Value proposition Value-delivery system Measuring Satisfaction Defining Customer Value and Satisfaction

Table 3-1: Tools for Tracking and Measuring Customer Satisfaction:

3- 6 Table 3-1: Tools for Tracking and Measuring Customer Satisfaction Complaint and suggestion systems: Customer satisfaction surveys: A customer-centered organization makes it easy for customers to register suggestions and complaints. Some customer-centered companies-P&G, General Electric, Whirlpool—establish hot lines with toll-free numbers. Companies are also using Web sites and e-mail for quick, two-way communication. Studies show that although customers are dissatisfied with one out of every four purchases, less than 5 percent will complain. Most customers will buy less or switch suppliers. Responsive companies measure customer satisfaction directly by conducting periodic surveys. While collecting customer satisfaction data, it is also useful to ask additional questions to measure repurchase intention and to measure the likelihood or willingness to recommend the company and brand to others. See text for complete table

PowerPoint Presentation:

3- 7 Would you feel more brand loyalty for a company that tried to immediately resolve a complaint via E-mail, or a company that had a customer service representative call within two business days to resolve the problem over the phone? Discussion Question

PowerPoint Presentation:

3- 8 Premier Dell.com is a special business-oriented part of the Dell Web site that allows customers to interact with Dell and customize all phases of doing business with Dell.

The Nature of High Performance Business:

3- 9 The Nature of High Performance Business High-performance business

Figure 3-2: The High Performance Business:

3- 10 Figure 3-2: The High Performance Business

The Nature of High Performance Business:

3- 11 The Nature of High Performance Business Stakeholders Processes Resources Core competency Distinctive capabilities Organization and Organizational Culture Organization Corporate culture Scenario analysis

PowerPoint Presentation:

3- 12 Can you name a company that has changed the public’s perception of their corporate culture? Has this effectively rehabilitated that company’s image? Discussion Question

Delivering Customer Value and Satisfaction:

3- 13 Delivering Customer Value and Satisfaction Value Chain Value chain

Figure 3-3: The Generic Value Chain:

3- 14 Figure 3-3: The Generic Value Chain

Delivering Customer Value and Satisfaction:

3- 15 Delivering Customer Value and Satisfaction Benchmarks Core Business Processes The market sensing process The new offering realization process The customer acquisition process The customer relationship management process The fulfillment management process

Delivering Customer Value and Satisfaction:

3- 16 The Value Delivery Network (Supply Chain) Delivering Customer Value and Satisfaction

Figure 3-4: Levi Strauss’s Value-Delivery Network:

3- 17 Figure 3-4: Levi Strauss’s Value-Delivery Network

Attracting and Retaining Customers:

3- 18 Attracting and Retaining Customers Partner relationship management (PRM) Customer relationship management (CRM)

PowerPoint Presentation:

3- 19 Saturn has gained a customer loyalty rate of more than 60% by fundamentally changing the buyer-seller relationship. Can you think of another company that has made a change of similar magnitude? Have they had similar results? Discussion Question

Attracting and Retaining Customers:

3- 20 Attracting and Retaining Customers Attracting Customers Computing the Cost of Lost Customers Customer churn Lifetime value

PowerPoint Presentation:

3- 21 On the Lands’ End Web site, customers can click a button to talk with a customer service representative

Attracting and Retaining Customers:

3- 22 Attracting and Retaining Customers The Need for Customer Retention Measuring Customer Lifetime Value (CLV) Customer Relationship Management (CRM): The Key Customer equity Three drivers of customer equity Value equity Brand equity Relationship equity

Figure 3-5: The Customer-Development Process:

3- 23 Figure 3-5: The Customer-Development Process

Attracting and Retaining Customers:

3- 24 Attracting and Retaining Customers Five levels of investment in customer relationship building Basic marketing Reactive marketing Accountable marketing Proactive marketing Partnership marketing

Figure 3-6: Levels of Relationship Marketing:

3- 25 Figure 3-6: Levels of Relationship Marketing

Attracting and Retaining Customers:

3- 26 Attracting and Retaining Customers Forming Strong Customer Bonds: The Basics Cross-departmental participation Integrate the Voice of the Customer into all business decisions Create superior offering for the target market

Attracting and Retaining Customers:

3- 27 Organize and make accessible a database of customer information Make it easy for customers to reach the appropriate personnel Reward outstanding employees Adding Financial Benefits Frequency programs (FPs) Attracting and Retaining Customers

PowerPoint Presentation:

3- 28 The H.O.G. Web site presents the benefits of joining.

Attracting and Retaining Customers:

3- 29 Attracting and Retaining Customers Adding Social Benefits

Table 3-2: Social Actions Affecting Buyer-Seller Relationships:

3- 30 Table 3-2: Social Actions Affecting Buyer-Seller Relationships Good Things Bad 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 or shorthand Personality problems aired Talk of “our future together” Routinize responses Accept responsibility Plan the future Make only callbacks Make justifications Accommodative language Use correspondence Wait for misunderstandings Wait for service requests Use “owe-us” legal language Only respond to problems Use long-winded communications Personality problems hidden Talk about making good on the past Fire drill and emergency responsiveness Shift blame Rehash the past

Attracting and Retaining Customers:

3- 31 Attracting and Retaining Customers Adding Structural Ties Create long-term contracts Charge lower price to high volume customers Turn product into long-term service

Customer Profitability, Company Profitability, and Total Quality Management:

3- 32 Customer Profitability, Company Profitability, and Total Quality Management Measuring Profitability Profitable customer

Figure 3-7: Customer-Product Profitability Analysis:

3- 33 Figure 3-7: Customer-Product Profitability Analysis

Figure 3-8: Allocating marketing investment according to customer value:

3- 34 Figure 3-8: Allocating marketing investment according to customer value

Customer Profitability, Company Profitability, and Total Quality Management:

3- 35 Customer Profitability, Company Profitability, and Total Quality Management Increasing Company Profitability Competitive advantage Implementing TQM Total Quality Management Quality

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