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Customer RelationshipManagement
( CRM )
Customer Satisfaction
&Customer Value
Group Members
Tahir Rauf, Mudasir, Jawad Munir, Fehmida Ali, Raheel, M. Hafeez.
Submitted To: Ms Nuzhat Jadoon
Presenttation ON
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The most important concept of modern marketing.Until recently, CRM has been defined narrowly as acustomer data management activity.
In broader sense, customer relationshipmanagement is the overall process of buildingand maintaining profitable customer relationships
by delivering superior customer value andsatisfaction.
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Building Customer
Relationships :The first three steps in the marketingprocess:
2. Understanding the marketplace andcustomer needs,3. Designing a customer driven marketing
strategy
4. Constructing marketing programsAll leads up to the fourth andmost important step:
Building profitablecustomer relationshi s .
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Customer satisfaction depends on productsperceived performance relative to a buyers expectations . If the products performance falls short of expectations, thecustomer is
dissatisfied.
If performance matches
expectations, the customer is satisfied . If performanceexceeds expectations, the customer is highly satisfied .
Most studies show that higher levels of customersatisfaction lead to greater customer loyalty , which in
turn in better company performance.Smart companies aim to delight customers bypromising only what they can deliver, then delivering more than they promise .
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Stays Buyer Longer
Buys More Talks Favorably aboutProducts
Offers Ideas Costs Less than NewCustomer
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For Example :McDonold
People Flocking System Not Hamburger High Standard Of QSCV Quality Service
Cleanliness Value
Works with Suppliers, Franchise Employeesfor Giving Better Value To Customers
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Quality & Price :Quality is the totality of features andcharacteristics of a product or service that
bear on its ability to satisfy stated orimplied needs.
Price is the sum value of all the values thatconsumers exchange for the benefits or having or usingthe product or service
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Customer Delivered
Value :Customer-delivered value is the differencebetween total customer value and total customercost of a marketing offer
Customer satisfaction depends on the productsperformance relative to a buyers expectations
Companies must be customer centered anddeliver superior value to target customers
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Customer Value:
1. Product Value :Hybrids that offer benefits of multipple products (Multiplexes:CinemaHall+Resturant+Shopping; Kaun Banega Karorepati: Realityshow+education
Innovations (features, sizes, packaging): Maggi offereing noodlesusing atta and dal, smaller packs at only Rs. 5
4. Brand Value :Enganging custommers with the brand: Sunsilk-enaging
customers through the gang of girls website
Emotional appeal for mundane: Airtel advertisement that useemotional and exhort people to express yourself
7. Service Value :Supplementary offerenings: Free toys for children with meals atMcDonalds, Virgin Atlantic: Flight + Shopping
Easy access through multi channels: ICICI Bank-access through retailcounters, ATM, internnet, telephone etc. Dominos Pizza: 30 minutesdelivery
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Capturing value from
customers: Creating customer loyalty and retention: The aim of customer relationship management is to create not justcustomer satisfaction, but customer delight.
Customer lifetime value: the value of the entire of purchases that the customer would make over alifetime of patronage. (Companies are realizing that losing acustomer means losing more than a single sale.) Growing share of customer: The portion of the
customers purchasing that a company gets in itsproduct categories. (banks want to encrease share of wallet) Building customer equity: the total combinedcustomer lifetime values of all of the companyscustomers. (It may be a better measure of firmsperformance than current sales or market share) ......
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KEY POINTS:
Marketing is about mutually satisfyingexchanges between buyers and sellers
Customer focuswhat the customer wants, needs, desires
Competitor focusbetter than other firms
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THANK YOU
Tahir Rauf Awan
MBA 1 st ,R/N : 3 .GCC