What is customer value,satisfaction and loyalty and how cancompanies earn them?

“The cornerstone of a well conceived holistic marketing orientation is strong customer relationships”

“Successful managers carefully managetheir customer base”

“Creating loyal customers is the heart of every business”

Customer perceived value (CPV)

Total customer benefits -Total customer cost

=

How can we explain and influence erratic customer choices?

Problem: The buyer might be under orders to buy at a lower price

Solution: convince the buyer about the long term benefits and customer value

Problem: The buyer will retire before the company realises it’s mistake

Solution: Convince the other people in the company that the product has great customer value

Problem: The buyer enjoys a long time relationship with the rival company

Solution: Convince the buyer that the rival company’s product is below par

Delivering High Customer Value

What customer buys....

What customer expects..

Ensure a proper value delivery

system

Customer satisfaction : comparison between product’s performance to expectations

“The ultimate goal is customer satisfaction”

Created by Yash Akshay Reddy, SVCE , during an internship By Prof. Sameer Mathur, IIM Lucknow.www.IIMInternship.com