Customer Value N Satisfaction

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Tutored Tutored by by : : Prof. Prof. Sunil Sunil D D Anto Anto
Make your customer the center of your culture

: : John John Chambers, Chambers, CEO CEO Cisco Cisco Systems Systems
Overall Market Share (OMS / MS)

OMS = Customer Penetration Customer Loyalty Customer Selectivity Price Selectivity x x x
CP = % of all customers who buy from the company CL = % of purchases from the company / total purchases from all suppliers of the same product CS = % of the size avg. customer purchase from the company / size of avg. customer purchase from an avg. company. PS = % of Avg. price charged by the company / avg. price charged by all companies
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Customer Value n Satisfaction. Tutored by : Sunil D Anto
We will learn & analyze
Customer Value, Satisfaction & Loyalty and their Delivery Lifetime value of Customers How companies can attract & retain customers How companies can cultivate strong customer relationships (CRM) How companies can deliver Total Quality
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Traditional Vs. Modern Orgn. Chart
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Customer Value
CPV CV CDV = Total C.Value Total C.Cost
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Loyalty de-mystified
Loyalty is a deeply held commitment to re-buy / re-patronize a preferred product in the future, despite situational influences & marketing efforts having the potential to cause switching behaviour
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Keys to generating high C. Loyalty

Deliver high C. value ! The company must design a competitively superior value proposition aimed at specific market segment, backed by a superior valuedelivery system.
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Value Proposition
VP consists of the whole cluster of benefits the company promises to deliver; it is more than the core positioning of the offering. For eg., Volvos core positioning is safety. But a user gains more than just safety !
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Value Proposition (contd.)
VP is a statement abt the resulting exp the customer will gain from the offering & from the reln.ship with the company. The brand must represent the promise abt the total EXPERINCE the customer can expect.
Whether the promise will be kept depends on the cos ability to manage its value-delivery system.
Value Delivery System (VDS)

.. Includes all the experiences the customer will have on the way to obtaining & using the companys offering (product).
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Total C. Satisfaction
Whether the customer is satisfied after purchase depends on the products performance in relation to the buyers expectations. Satisfaction is the customer's feelings of pleasure or disappointment resulting from comparing a products perceived performance in relation to his expectation.
C. Satisfaction the ultimate goal?
Although the customer-centric firm seeks to create high customer satisfaction, that is NOT its ultimate goal ! Ultimately, the co. must operate on the philosophy that it is trying to deliver a high level of customer satisfaction subject to delivering acceptable levels of satisfaction to the other stakeholders, given its total resources.
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Customer Expectations
How are customers expectations formed? from past buying exp. Friends & associates advice Marketers & competitors information and promises
If marketers raise expectations too high, the buyer is likely to be disappointed; if it is set too low, it wont attract enough customers !
Successful cos. are raising expectations & delivering performance to match the same.
10/13/2008 Customer Value n Satisfaction. Tutored by : Sunil D Anto
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C. Expectations (contd.)
A customers decision to be loyal or to defect depends upon the sum total of a large numbers of small encounters with the co. These encounters result in positive outcome and should lead to some memorable customer experience !
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Are Your Customers Happy?

Get behind the wheel of any luxury car today, and you'll face a dashboard and console packed with buttons that run elaborate climate control, stereo and navigation systems. On paper all these options sound greatin practice, though, attempting to operate increasingly complicated electronics might leave many drivers frustrated and annoyed, yearning for the days of a few dials and a couple of knobs.
Are Your Customers Happy?

@ Harvard BS, Rita McGrath argues that one way to improve customer experienceand something few of us consideris to take away something they find negative. She offers the example of a new PC packed with pre-installed software you don't want. "Getting rid of it is fiddly and time-consuming and exposes you to the risk of deleting something you really do need from your system," she says. It has become such an issue, notes McGrath, that Best Buy has a prominent in-store display that offers to remove all the excess software for a fee. You get a nice, clean, machine which only has exactly what you wanted. No slow starts, no baffling come-ons for software you don't know you need (or do you?) and no confusing competition among three (or more) programs that do the same thing." A oncetolerable feature has become intolerable, and a retailer discovered there's money to be made in resolving a problem that originates with the supplier.
Your Marketing Inspiration:

"I always encourage companies to think about whether the new things they are adding to their offers really benefit the customer or not," says McGrath. "If not, it runs the risk of being a tolerated, disliked, or ultimately hated feature that can put your company at a competitive disadvantage."

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Please purchase PPT to Flash on http://www.verydoc.com to remove this watermark.

Tutored Tutored by by : : Prof. Prof. Sunil Sunil D D Anto Anto

Make your customer the center of your culture

Please purchase PPT to Flash on http://www.verydoc.com to remove this watermark.

Please purchase PPT to Flash on http://www.verydoc.com to remove this watermark.

Overall Market Share (OMS / MS)