customer value, satisfaction and loyalty
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CUSTOMER VALUE, SATISFACTION AND LOYALTYMarketing Concepts as Applied to Petron Corporation
Joanna B. MordenAteneo Graduate School of BusinessMay 10, 2013
Six Key Concepts
• Customer Perceived Value• Measuring Satisfaction•Quality• 150-20 Rule• Customer Relationship Management• CRM Strategies
Concept 1: Customer Perceived Value
Customer Perceived Value for a MotoristTotal Customer Value Total Customer Cost
Product Value• High quality fuel and additives
Monetary Cost• higher octane number = better engine performance = more expensive
Services Value• efficient service• Additional services
Time Cost• longer service time / stay at the station
BENEFITS – COST = CUSTOMER PERCEIVED VALUE
Concept 2: Measuring Satisfaction
Periodic Survey
Customer Loss Rate
Mystery Shopper
Monitor Competition
Methods Employed by Petron
Monitor Competition• depot / SS constructions• rollbacks and price hikes• current promos
Mystery Shopper• participant
employees are assigned SS to conduct survey at
Customer Loss Rate• Industrial Accounts
Concept 3: Quality
Quality is the totality of features and characteristics of a product or service that bear on its ability to satisfy stated or implied needs.
Fuel Quality. Fuel Success.
QUALITY MANAGEMENT
SYSTEMS
RESEARCH AND TESTING
CENTER
Concept 4: 150-20 Rule
The 150-20 Rule : The most profitable 20% of customers may contribute 150% of profitability.
TOP 20%
150% OF PROFITABILITY
Sales per Customer Group – March 2013
GasulIndustrialLubeReseller
Concept 5: Customer Relationship Management
Framework for CRM
Identify prospects and customers
Differentiate customers by needs and value to the
company
Interact to improve knowledge
Customize for each customer
Concept 5: Customer Relationship Management
Framework for CRM
Identify prospects and customers
Differentiate customers by needs and value to the
company
Interact to improve knowledge
Customize for each customer
Concept 5: Customer Relationship Management
Framework for CRM
Identify prospects and customers
Differentiate customers by needs and value to the
company
Interact to improve knowledge
Customize for each customer
Concept 5: Customer Relationship Management
Framework for CRM
Identify prospects and customers
Differentiate customers by needs and value to the
company
Interact to improve knowledge
Customize for each customer
Everyone’s Petron
RESELLER LPG RETAIL
INDUSTRIAL
FLEET LUBES
Concept 6: CRM Strategies
Reduce the rate of defection
Increase longevity
Enhance “share of wallet”
Terminate low-profit customers
Focus more effort on high-profit customers
Customer is KING
Promos
Rebates
Discount
Targets
Perks
Customer is KING
Promos
Rebates
Discount
Targets
Perks
Customer is KING
Promos
Rebates
Discount
Targets
Perks
Customer is KING
Promos
Rebates
Discount
Targets
Perks
Customer is KING
Promos
Rebates
Discount
Targets
Perks
RESELLER: target monthly volume
INDUSTRIAL: discount for larger contract volume
- Longer credit terms
REMEMBER THIS!
CUSTOMERSParty that receives or consumes products (goods or services) and has the ability to choose between products and suppliers
Total Customer Value Benefits that the product provide to the customer
Total Customer Cost Monetary, time, energy and psychological components of the product/service
Customer Perceived Value Difference of Total Benefits and Total Costs
Benefits > CostsDo benefits outweigh the costs?
Customer Satisfaction - Attained when what the customer holds important are met
Customer Satisfaction - Can be monitored and evaluated using quantifiable measurement methods
Customer Satisfaction almost always leads to Customer Loyalty
Which will eventually translate to Profit
Total Customer Cost
Total Customer Benefit
Customer Perceived Value
Benefits > Cost Customer Satisfaction
Customer Satisfaction
Customer Loyalty
Profits
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