Chapter 5 Kotler Customer value, Satisfaction and Loyalty
- 1. Chapter 5 Customer Value, Satisfaction and Loyalty Mark Angelo Reyes MARKMA
- 2. Customers – marketing is the art of attracting and keeping profitable customers
- 3. Total Customer Benefit – the actual benefits afforded by the product and/or service to the customer
- 4. Total Customer Cost - the monetary, time, energy and psychological cost components of the product/service
- 5. Perceived Value - The total perceived value of the customers is determined by the difference of the Total Customer Benefit and Total Customer Cost
- 6. More Benefits than Costs – Does the benefits out weight the costs?
- 7. Competitive Advantage – Are the products/services that you offer superior to competitors/alternatives?
- 8. Customer Satisfaction – Analyze what the customer holds important to make it easier to meet the requirements. Once met, there is customer satisfaction.
- 9. Customer Satisfaction – Quantifiable measurement methodologies are available to monitor satisfaction levels of the customers.
- 10. Customer Loyalty – Customer satisfaction almost always leads to customer loyalty (Loyalty is a commitment to repurchase or re-patronize a preferred product )
- 11. Profits – with customer loyalty comes company profits
- 12. Total Customer Total Customer Benefit Cost Perceived Value More Benefits Competitive Customer than Costs Advantage Satisfaction Customer Satisfaction Customer Loyalty Profits