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What are the customer value,satisfaction and
loyalty; and how can companies deliver them?
1.
“Successful managers are those
who carefully manage their
customer base”
“Creating loyal customers is at the heart of every business”
“NO Customers = No Business”
Interact with thy customer.
Tony Fernandes,CEO,
Asia Air
Customer perceived value = Total customer
benefits - Total customer cost
How to sell to a buyer?
Total customer benefit
Total customer cost
How to explain and influence erratic customer choices?
The buyer might be under orders to buy at a lower price.
Solution Possibility
Convince the buyer about the long term benefits and customer value
The buyer will retire before the company realises its mistake.
Solution Possibility
Convince the other people in the company that the product has great
customer value.
The buyer enjoys a long-term relationship with the rival company.
Solution Possibility
Convince the buyer that the rival company’s product is below par.
Delivering high customer value
Value proposition
What the customer buys…
What he expects…
Ensure a proper value delivery system
Customer satisfaction : Comparison between product’s performance to expectations.
Expectations > Product performance
“The ultimate goal is customer satisfaction”
Monitoring customer satisfaction
Customer satisfaction does not guaranty customer loyalty.
Undertake periodic customer surveys.
Only 5% customers ever
complain!
Addressing customer complaints
Set up a hotline
Addressing customer complaints
Contact the customer ASAP
Addressing customer complaints
Take responsibility
Addressing customer complaints
Resolve the problem swiftly
“Quality is the best business plan.”
~John Lesseter
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