What are customer value, satisfaction, and loyalty, and how can companies deliver them?
The document discusses customer value, satisfaction, and loyalty. It defines customer perceived value as the difference between the benefits and costs of an offering compared to alternatives. Companies can deliver customer value by focusing on a customer-oriented organization structure with customers and frontline employees prioritized over top management. Customer perceived value is determined by comparing total customer benefits like product benefits to total customer costs like monetary and time costs. The document also defines loyalty as a commitment to rebuy a preferred product/service and satisfaction as products meeting or surpassing a customer's expectations. It recommends monitoring satisfaction using measurement techniques and addressing customer complaints to influence satisfaction.
What are customer value, satisfaction, and loyalty, and how can companies deliver them?
- 2. What are customer value, satisfaction, and loyalty, and how can companies deliver them?
- 3. What is Customer Perceived Value? the difference between the prospective customer’s evaluation of all the benefits and all the costs of an offering and the perceived alternatives
- 4. Top Management Middle Management Frontline people CUSTOMERS Traditional Organization Chart For those who believe customers are true profit center
- 5. CUSTOMERS Frontline People Middle Management Top Management Modern Customer-Oriented Organization Chart For new and successful marketing companies
- 6. Image Benefit Personal Benefit Services Benefit Product Benefit Total Customer Benefit Psychological cost Energy Cost Time Cost Monetary Cost Total Customer Cost Total Customer Benefit Total Customer Cost Customer- perceived Value Determinants of Customer-Perceived Value
- 8. What is Loyalty? a deeply held commitment to re-buy or re- patronize a preferred product or service in the future
- 9. What is Customer Satisfaction? a marketing term that measures how products or services supplied by a company meet or surpass a customer's expectation