More Related Content Similar to Kotler Mm13e Media 05 Creating Customer Value, Satisfaction, And Loyalty (20) More from Institute of Management Studies UOP (20) Kotler Mm13e Media 05 Creating Customer Value, Satisfaction, And Loyalty3. Ritz Carlton - Famous for its Exceptional Service Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 5- 6. Figure 5.2 Determinants of Customer Perceived Value Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 5- Image benefit Psychological cost Personnel benefit Energy cost Services benefit Time cost Product benefit Monetary cost Total customer benefit Total customer cost 11. The Value Proposition Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 5- The whole cluster of benefits the company promises to deliver 13. Measuring Satisfaction Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 5- Periodic Surveys Customer Loss Rate Mystery Shoppers Monitor Competitive Performance 14. J.D. Power Rates Customer Satisfaction Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 5- 15. Single Key Question of Net Promoter “How likely is it that you would recommend this product or service to a friend or colleague?” Use 0-10-point scale 0-6 are Marketers than subtract Detractors 7-8 are deemed Passively satisfied 9-10 are Promoter (Net Promoter Score-NPS) Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 5- 17. World class companies used NPS Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 5- 19. What is Quality? Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 5- Quality is the totality of features and characteristics of a product or service that bear on its ability to satisfy stated or implied needs. 21. Maximizing Customer Lifetime Value Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 5- Customer Profitability Customer Equity Lifetime Value 22. Figure 5.3 The 150 – 20 Rule Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 5- 26. Framework for CRM Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 5- Identify prospects and customers Differentiate customers by needs and value to company Interact to improve knowledge Customize for each customer 28. CRM Strategies Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 5- Reduce the rate of defection Increase longevity Enhance “share of wallet” Terminate low-profit customers Focus more effort on high-profit customers 29. Focus on CRM Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 5- 31. Figure 5.5 The Customer Development Process Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 5- Prospects Suspects Disqualified First-time customers Repeat customers Clients Members Partners Ex-customers 35. Using the Database Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 5- To identify prospects To target offers To deepen loyalty To reactivate customers To avoid mistakes 40. Brought to You By Hashim Khan IMS University of Peshawar [email_address]