strategic marketing ppt
TRANSCRIPT
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GAINING & RETAING
CUSTOMERS
PRESENTED BY: ARVIND KUMAR TRIPATHI
CHANCHAL KANSHAL JOGENDRA WALVOIKAR
JUSTIN JOSEPH
JUBIN JOY SAMUEL
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CUSTOMER
A Customer is usually used-to refer to a
current or potential buyer or user of theproduct of an individual or a organization
called the supplier, seller or vendor.Customer is king
Customer is GodCustomer is always Right
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The process of retaining the existing customers. Itis obvious that customer retention is more
powerful and effective than customer satisfaction
Customer Retention
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Every activity which occurs within an
organization ensures that a customer is not
only satisfied but also retained.
Customer care
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CUSTOMER RETENTION
OLIVER SAYS:Deeply held commitment to re-buy or re-
patronize a preferred product or service consistently inthe future, despite situational influences and marketing
efforts having the potential to cause switching behavior.
If we dont take care
of our customers,
someone else will.
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CustomerRetention
Overallsatisfaction
BrandStrength
FutureIntentions
PerceivedValue For
Money
COMPONENTS OF
CUSTOMER RETENTION
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8 CS OF CUSTOMER RETENTION
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Step 1 - Ask
Step 2 - Evaluate Step 3 - Stimulate
Step 4 Reward
Step 5 - Aggregate
Step 6 Take action
The Path to customer retention involves six
steps!
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Welcomethe
complaints
Instigateloyalty
programs
Sendquestionnaires
and surveys
Check forrepeat sales
Reactivatedormant
customers
Frequentcommunicatio
n plans
Do regularreviews
Make goodfirst
impression
Provideexceptional
services
Best Customer Retention Strategies
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Productextras
Reinforcingpromotions
Sales forceconnections
Post
purchasecommunication
Marketing Mix for retaining customers
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Reduced costs for customer
acquisition.
Fostering greater interaction
between business and customer.
Having more delighted customers.
Possibility of repeat business.
Benefits of Customer Retention
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Pricing
Inconvenience
Core service failure
Service encounter failure
Response to service failure
Competition
Ethical problems
Involuntary switching
Challenges in retaining a customer:-
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