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C5: Creating Long term Loyalty Relationships (Customer Value, Satisfaction…
C5: Creating Long term Loyalty Relationships
Customer Value, Satisfaction, Loyalty
(1)Customers, (2)Front line people, (3) Middle Management, (4) Top Management
Total customer benefit / Total customer cost
Examples brand customer loyalty
Apple, Samsung, Google, Walmart, Amazon,Nike, Accer
Satisfaction
: person feelings of pleasure that result from comparing a products perceived performance to expectations.
Quality
Customer complaints
Customer profiability analysis
Customer Relationships
CRM:
Process of managing information about individual customers and all customers "touch points" to maximize loyalty
Personalizing marketing
Customer empowerment
Customer reviews and recommendations
Loyalty programs (club memberships, cards)
Customer Databases
Customer mailing list
Data mining
Determine trends, segments, individual needs
Big Data info
Manage carefully the customer info
Examples: Dell, Caterpillar, Home Depot (quality). Dominos (build your own pizza), Apple (loyalty programs)