markma report chapter 5

Creating Customer Value, Satisfaction and Loyalty

How is this created?

• Through customer value• What are the steps in customer value

analysis?• Through customer satisfaction• What is CRM Framework?• Through customer loyalty• Customer retention: using database

Customer Value

• What customer gets from a product & what he has to give to attain it

Steps:Customer Value Analysis

• Know major attributes & benefits • Assess importance• Assess performances• Examine ratings

• Monitor customer values

Customer Satisfaction

Measured

by number of repeat and happy customers

CRM Framework

• Identify customers• Differentiate customers• Interact• Customize for each customer

Customer Loyalty

Measure of success of supplier in retaining

a long term relationship with customer

Customer Retention

• Use Database

-Identify/attract prospects-Target offers-Deepen loyalty-Reactivate customers-Avoid mistakes

CUSTOMERS

Customer Value

Customer SatisfactionCustomer Loyalty

Framework

5 Steps:

Retention